A recent report published by Infinium Global Research on the endoscopic accessories market provides an in-depth analysis of segments and sub-segments in the global as well as regional endoscopic accessories market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional endoscopic accessories market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global endoscopic accessories market. According to the report, the global endoscopic accessories market was sized near USD 2.4 billion in 2020 and will reach upto USD 3 billion by 2026, growing with a CAGR of 3.9% over the forecast period of 2020-2026.
Endoscopy is a non-surgical procedure, which requires instruments and accessories to examine the interior of a patient’s body. The accessories such as needle holders, forceps, injection needles, snare, overtures, biopsy valves, and surgical dissectors are used for conducting endoscopy. A large number of medical device and equipment manufacturers offer endoscopic accessories to hospitals, clinics, and other medical facilities. Moreover, endoscopic accessories are used for different types of endoscopic procedures including laparoscopy, GI endoscopy, arthroscopy, urology endoscopy, and bronchoscopy. Several market players have expertise in endoscopic accessories and are only focused on offering certain types of devices instruments and accessories. Furthermore, the endoscopic accessories market is witnessing several innovations due to the development of novel procedures, and materials.
The endoscopic accessories market is primarily driven by the growing aging population. Elderly people are prone to orthopedic, gastrointestinal, and ophthalmic diseases as well as cancer, which requires endoscopy for better diagnosis. Moreover, the increasing patients’ preference for minimally invasive surgeries is anticipated to propel the growth of the market within the projected years. As endoscopic procedures are non-invasive, they are considered low-risk procedures, augmenting their popularity among patients and healthcare professionals. However, the endoscopic procedures are comparatively expensive as compared to other diagnostic procedures, which is expected to hinder the demand for the endoscopic accessories market. Nonetheless, the development of innovative materials coupled with growing R&D activities by the market players is anticipated to create several new opportunities for the endoscopic accessories market.
In terms of region, the endoscopic accessories market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The North America region accounted for the largest share in the global endoscopic accessories market. The highest market share of the region is mainly attributed to the prevalence of chronic diseases including bladder and colon cancers. Moreover, other factors including the growing geriatric population and higher adoption of advanced robot-assisted endoscopy procedures are further augmenting the growth of the endoscopic accessories market in North America. On the other hand, the Asia Pacific endoscopic accessories market is anticipated to grow at the fastest rate over the forecast period. This is mainly due to the factors such as significant economic growth, growing prevalence of cancers, improving healthcare infrastructure, and increasing demand for advanced diagnostic therapies.
The report on the global endoscopic accessories market covers segments such as product and application. On the basis of product, the sub-markets include needle holders/forceps, injection needle, polypectomy snare, overtubes, biopsy valves, surgical dissectors, and others. On the basis of application, the sub-markets include laparoscopy, GI endoscopy, arthroscopy, urology endoscopy, bronchoscopy, and others.
The report provides profiles of the companies in the market such as KARL STORZ SE & Co. KG, Stryker Corporation, Boston Scientific Corporation, Ethicon, Inc., Covidien Plc, Hoya Corporation, Richard Wolf GmbH, Smith & Nephew plc, Aesculap, Inc., and CONMED Corporation.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the endoscopic accessories market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.