Targeting a 6.8 percent growth in endoscopy devices market

The global endoscopy market depicts the presence of a highly competitive and fragmented vendor landscape. Such an intensive competition is mainly present due to innumerable players existing in the market. Most players are fiercely focusing on R&D to expand their product portfolio. This is further expected to make them maintain a concrete stronghold in the market from a geographical perspective too. The global endoscopy devices market is expected to reach a value of USD 36.9 billion by 2019, predicts Transparency Market Research. This growth is anticipated to occur at a rising CAGR of 6.80 percent during 2017–2019. A rapidly growing preference for minimally invasive surgeries has boosted the global market, mainly due to the devices being characterized by this aspect. Rapidly developing economic conditions in several regions have made it easier for proliferation of endoscopy techniques, thus sparking a substantial growth in the global endoscopy devices market.

High cost of endoscopy operations could discourage people from opting for these thus restraining the market’s growth. This could highly occur in several economies located mainly in developing and underdeveloped regions of Asia-Pacific and Latin America, where the per capita gain of gross income is comparatively less. Lack of skilled workforce needed to operate high-tech endoscopy instrumentation in these regions is also known to substantially restrict the global endoscopy devices market. Furthermore, a shortage of endoscopy devices in remote regions is also restraining the market on a regional scale. However, many companies are projected to introduce cost-effective endoscopy solutions during next few years, thus obliterating most of the restraints affecting the global endoscopy devices market.