An endoscopic instrument is a diagnostic medical device which is used to identify the type of disease and extent of damage cause by the disease mainly related to stomach, intestines, ear, nose and throat. In it, the healthcare professional inserts the equipment into the patient body by making a small incision or via available body cavities making it one of the least invasive technique. It acted as a boon for large number of patient by helping them to discover serious diseases at early stages. Cancer and Inflammatory bowel disease (Crohn’s disease and ulcerative colitis) are some deadly disease which require early diagnosis in order to be treated. Some different types of Endoscopy are Anoscopy, Bronchoscopy, Colonoscopy, Cystoscopy etc. Gastro Endoscopic equipment’s are the most dominating ones due to the fact that majority of the Endoscopy are related to Gastro-intestinal tract making them to capture half of the market. Various players are involved in manufacturing and distributing the equipments thus controlling the market share. But the majority is hold by only a few of them making the market a little concentrated.
Different accessory parts like Insufflators, Mouthpieces and Light Cables are associated with it for its smooth and efficient functioning. Endoscopy is an Aerosol producing procedure (APP) which increases its potential of transferring the diseases. Patient having high load of microbes in their respiratory or gastrointestinal tract may lead to the contamination of the instrument which can further affect their health as well as the wellbeing of health care professionals. These are the undesirable factors which can delay the diagnosis and treatment of various diseases which can be fatal to the patients.
Certain well developed hospitals or care centers in the western countries are the main players which are responsible for partially concentrated market. The market growth depend on many factors like advancement in technology, collaboration between the different companies, post COVID surge are a few to mention. Covid played an important role to increase the market share due to post covid complications as well as increase in overall market size of personal protective equipment’s and diagnostic elements.
Disposable Endoscopic equipment’s are the new market sensations due to their ability to reduce the chances of cross contamination as well as cost effectiveness. But as every coin has two faces, Covid also effected the market by affecting the Production and supply chain of the devices around the world. During the Pandemic we have seen a large fall in the number of endoscopy procedures due to the high risk of viral transfer. The health care professionals were avoiding the less complicated cases so as to prevent the transfer of virus which also has restrained the market growth.
Global Industrial Endoscopic Equipment Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Olympus, Fujifilm, HOYA, Karl Storz, Stryker, Endo Choice, Richard Wolf, Aohua, Johnson and Johnson.
Global Industrial Endoscopic Equipment Market Segmentation:
By Application- Based on the Application, the Global Industrial Endoscope Equipment Market is segmented as; Arthroscopy, Bronchoscopy, Colonoscopy, Laryngoscopy.
By Accessories –Based on the Accessories, the Global Industrial Endoscope Equipment Market is Segmented as; Insufflator, Mouthpieces.
By End Users –Based on the End Users, the Global Industrial Endoscope Equipment Market is
Segmented as; Ambulatory Settings, ENT Clinics, Hospitals.
By Product type –Based on the Product type, the Global Industrial Endoscope Equipment Market is Segmented as; Flexible Endoscopes, Hearing Screening Devices, Rigid Endoscopes.
By Visualization System- Based on the Visualization System, the Global Industrial Endoscope Equipment Market is segmented as; Recorders, Processors, Video Converters
By Region – The majority of the market share of the Endoscopic equipment belongs to North America which is then followed by Europe and Asia pacific. These three regions are the Major holder due to availability of advanced machineries as well as large number of patients suffering from diseases which require endoscopic diagnosis. Rest of the globe only shares some portion in this market but is increasing continuously.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.