Gastroscopy Devices Market by Product Type (Endoscopes, Mechanical Endoscopic Equipment, Visualization & Documentation Systems, and Accessories), Hygiene (Single-use, Reprocessing, and Sterilization), Application (Bronchoscopy, Arthroscopy, Laparoscopy, Urology Endoscopy, Neuroendoscopy, Gastrointestinal Endoscopy, Gynecology Endoscopy, ENT Endoscopy, and Others
The global endoscopic devices market was valued at $31.78 billion in 2019, and is expected to grow at a CAGR of 4.1 percent to $43.82 billion by 2027.
Endoscopy is a minimally invasive medical treatment that identifies, prevents, and treats visceral organ disorders. Endoscopes are utilised to look inside hollow organs or cavities in the body during this treatment. These devices are implanted in the body either through natural openings or cavities (such as the anus and mouth) or through incisions, particularly in arthroscopy.
Other features of endoscopy equipment, such as a camera or light source at the tip of the endoscope, assist physicians or medical professionals (endoscopists) in analysing internal organs of interest. Endoscopy can be used to explore digestive system symptoms such as nausea, vomiting, abdominal pain, swallowing difficulties, and gastrointestinal haemorrhage.
The COVID-19 epidemic has had a negative influence on the endoscopic device business. In the pre-COVID period, an average of 35,478 endoscopy procedures were conducted every week (by 3007 endoscopists; 12 procedures per endoscopist), according to the UK's National Endoscopy Database (NED). This dropped by a third during the transition week, to 23,827 endoscopic procedures. Furthermore, just 12% of the pre-COVID volume of procedures were performed during the COVID-affected period (average 4315 per week), and it was at its lowest point by the end of March 2020, with fewer than 1800 procedures each week. The influence of the pandemic on endoscopic services was demonstrated in this study.
The decrease in endoscopic procedures during the COVID-19 pandemic was mostly due to a fall in patient volume in hospitals as a result of procedure rescheduling and delaying for safety concerns. Furthermore, these delays occurred after a thorough examination of the patient's medical history, and if possible, healthcare practitioners rescheduled endoscopic treatments to reduce the risk of COVID-19 exposure during hospital visits. All of these variables are expected to have an impact on the endoscopic equipment market in the future.
Because of technical improvements in endoscopes that may be utilised for early detection of diseases and the rise in the prevalence rate of diseases that require endoscopy devices, the global endoscopy devices market is expected to grow significantly over the forecast period. Furthermore, favourable FDA approvals and reimbursement policies for endoscopy devices in developed economies, a surge in patient preference for minimally invasive surgeries, and shorter recovery times and minimal postoperative complications all contribute to the global endoscopy devices market's growth. However, a scarcity of qualified physicians and endoscopists, as well as infections caused by a lack of endoscopes, limit the market's expansion.
Product, hygiene, application, end user, and geography are the segments that make up the worldwide endoscopic devices market. The market is divided into endoscopes, mechanical endoscopic equipment, visualisation and documentation systems, accessories, and other endoscopy equipment on the basis of product. The market is divided into three categories based on hygiene: single-use, reprocessing, and sterilisation. Bronchoscopy, arthroscopy, laparoscopy, urology endoscopy, neuroendoscopy, gastrointestinal endoscopy, gynaecology endoscopy, ENT endoscopy, and others are some of the applications. It is divided into hospitals, ambulatory surgery centres & clinics, and others based on the end user. The data is broken down per region.
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