According to Transparency Market Research, the global endoscopy equipment market is estimated to witness notable growth in the coming years due to the increasing number of gastrointestinal diseases as well as cancer. The competitive landscape of the global market is seen to be fragmented due to the presence of a large number of players who are putting more focus on the development of new products and their product launching in order to stay in the market and maintain a dominant place. Major players are also investing more funds into research and development in order to produce better and unique results so as to improve their brand quality and give tough competition to the others. The global endoscopy equipment market is prognosticated to reach a valuation of USD 33.5 billion by 2022, exhibiting a promising CAGR of 4.0 percent from 2017 to 2022. The surge in the use of endoscopic equipment for diagnosis of all kinds of gastroenterological disorders is expected to boost the market at a global level.
Another factor expected to boost the global market is the rising investments in healthcare and medical sector for their enhancement. Both the government and non-government agencies are putting in effort to set up better healthcare infrastructure in order to meet the medical needs of people. The emergence and popularity of ultra-modern healthcare facilities are also creating lucrative opportunities for the overall market for endoscopy equipment. One factor that may act as a hindrance to the overall growth of the market is the high treatment cost of gastroenterology and their medication as well. The high cost of treatment may make customers think twice before opting for such treatment. Apart from that, the emerging market for ayurvedic medicines and their guaranteed no side-effect propaganda may divert patients from opting for endoscopic treatment and instead acquire natural remedies in order to cure themselves. Due to this shift, the market for endoscopy equipment may also face loss in the years to come.