- Endoscopy Equipment
The endoscopy equipment market is estimated to be valued at USD 31,648.3 million in 2022 and is poised to grow at a significant CAGR of 7.5% over 2023-2029. Endoscopy is a minimally invasive medical procedure used to detect, prevent, and treat visceral organ disorders. Endoscopes are used in this technique to inspect the interior of the body's hollow organs or cavities. The endoscopy equipment segment anticipated to grow at significant CAGR over the forecast years owing to a shift in the tendency of healthcare providers and patients preferring minimally invasive procedures over traditional open surgery. An aging population, increased frequency of chronic diseases, and technological breakthroughs in the field of endoscopic equipment are all factors driving the endoscopy equipment. Increase in demand for Minimally Invasive Surgeries and the adoption of Single-use endoscopy instruments are some of the key factors driving the global endoscopy equipment market.
Endoscopy Equipment Market Key Developments:
In December 2020: Cantel Medical Corp. and Censis Technology announced a new long-term alliance to merge Cantel's leading endoscope reprocessing workflow portfolio for infection prevention with Censis's surgical asset monitoring and instrument monitoring solutions.
Fastest Growing Market
The rising prevalence of chronic diseases, advancement of endoscopy technology, and greater support and coverage for endoscopic screening and care are increasing demands for endoscopy equipment market. Furthermore, the growing elderly population throughout the world is having a substantial impact on endoscopic product demand. Due to weaker immunity, that complicates medical and therapeutic options, older individuals are more sensitive to health difficulties such as ophthalmic disorders, gastrointestinal problems, orthopedic diseases, cancer, and others. Increased preference for minimally invasive and global endoscopic procedures are key factors that fuel endoscopy system demand.
The endoscopy equipment market is projected to expand at a CAGR of 7.5% during the forecast period.
Medtronic Plc, Karl Storz GmbH & Co. KG, Smith & Nephew, Plc, Johnson & Johnson,, Medrobotics Corporation.
North America is the fastest-growing region for endoscopy equipment market
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