The Global Endoscopic Visualization Components Market Size was worth US$ 21.5 billion in 2020 and is predicted to grow at a 7% CAGR between 2022 and 2032.
Endoscopy appears to be one of the minimally invasive techniques used to check the interior organs of the body. Endoscopic techniques have emerged as a viable supplementary tool in a variety of medical specialties, including general surgery. According to the CDC, about 494K hysterectomies are performed in the United States each year, with 80% of the surgeries being conducted robotically or laparoscopically.
The market is likely to be driven by rising prevalence of diseases such as colorectal cancer, pancreatic abnormalities, gastrointestinal disorders, gynaecological disorders, and respiratory difficulties. According to the World Cancer Research Fund, colorectal cancer ranks third in men and second in women.
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Light sources, camera heads, suction pumps, video processors, insufflators, high definition monitors, and other endoscopy visualisation components are included. In the foreseeable future, the expanding geriatric population is also predicted to catalyse the industry.
Future Market Insights’ recent market analysis, named ‘Endoscopy Visualisation Components Market,’ incorporates these facts as well as future projections. Its staff of analysts and consultants is on hand to carry out its 360-degree strategy in primary, secondary, and tertiary research modalities.
“Visualization systems embedded advanced technologies are capable of providing superlative image quality; which renders them vital in medical field. This factor is likely to take the endoscopy visualization components market by storm in the near future”, says an analyst from Future Market Insights.
Key Takeaways from Endoscopy Visualization Components Market
- North America controls more than 40% of the market. This could be attributed to the rapid adoption of less invasive procedures, increased demand for sophisticated diagnostic technologies, and rising rates of colorectal and stomach cancer. According to the American Cancer Society, there will be 104K new instances of colon cancer in 2021, with 45K new rectal reimbursement insurance.
- Europe is predicted to grow rapidly in the endoscopic visualisation components market for the reasons stated above. According to Eurostat, the number of laparoscopic hysterectomies contributed to 50 per 100K inhabitants in Germany and 24 in the United Kingdom. This information is for the year 2018.
- The Asia-Pacific is expected to witness the fastest growth in the endoscopy visualization components market going forward with countries like India, China leading from the front. This is evident from the fact that China has 22 endoscopists per million population, 5 in India, 17 in Malaysia, and 6 in Vietnam.
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Competitive Visualization
- Fujifilm Holdings Corporation, of late, did release their ELUXEO 7000 spectrum of endoscopy visualization component system that makes use of multi-light 4-LED light source known for enhancing durability of close to 10K hours and reducing consumption of energy; along with minimization od maintenance requirements like changing of light bulbs on frequent basis.
- The Hoya Corporation’s Wassenburg subsidiary is focusing on high-class consumables for endoscopy components like detergents, disinfectants, and EndoFender component covers to ascertain safe storage and transportation, that too, with auto disinfecting and cleaning capabilities. The company also holds the distinction of producing specialized carts for preventing components from getting adversely affected by the airborne contaminants.
- Stryker Corporation did release 1588 AIM camera system that constitutes high definition camera components that facilitate 9 surgical camera settings with numerous advanced imagery modalities inclusive of ENV, DESAT, IRIS, and likewise. On the other hand, it tabled its PneumoClear insufflators that were abreast with integrated humidification, smoke evacuation capabilities, heating, and enhanced laparoscopy processes.
Key Players
- Hoya Corporation
- Fujifilm Holdings Corporation
- KARL STORZ GmbH
- Stryker Corporation
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What does the Report visualize?
- The research study is based on product (camera heads, insufflators, light sources, monitors, suction pumps, video processors, and printers), by application (gastroscopy, endoscopy, and likewise), and by end-user (hospital, diagnostic imaging center, and likewise).
- With high definition imagery capabilities in place, the global endoscopy visualization components market is bound to grow on a gracious note in the near future.
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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