Global endoscopes market to be influenced by rising preference for minimally invasive surgeries

According to a report of Grand View Research, the global endoscopes market size is expected to reach USD 17.19 billion by 2025, progressing at a CAGR of 8.8 percent from 2017 to 2025. Growing global geriatric population, high prevalence of gastrointestinal diseases, and rising technological advancements are the key factors contributing to market growth. Rising preference for minimally invasive surgeries (MIS) is also positively influencing the growth of the market. Endoscopy surgeries are performed for diagnosis as well as treatment of gastrointestinal, gynecological, neurological, and cardiovascular diseases. Emergence of minimally invasive alternatives to open surgeries such as laparoscopy, hysteroscopy, and colonoscopy is boosting the demand for endoscopes. Preference of MIS is increasing owing to smaller incision, reduction in postoperative complications and mortality, and lesser trauma. Furthermore, they are economically viable alternatives to open surgeries.

Availability of technologically advanced endoscopes is also providing a significant push to the market. Market players are undertaking R&D initiatives to improve existing products as well as launch new products, which are expected to bolster the growth of the market. For example, in March 2018, Auris Health, Inc. announced FDA approval of its new robotic endoscopy system, Monarch Platform. In June 2017, Olympus launched the 3D surgical endoscope designed to be compatible with the Visera Elite II system. It uses 3D imaging facilitating depth perception that enables precise surgery. Pentax Medical launched Slim Linear Ultrasound Endoscope (EG-3270UK) in the United States of America in August 2017.