The endoscopic device market is mirroring the growth seen throughout the healthcare field, according to a report released by Research and Markets.
Here's what you should know.
1. The endoscopy market is expected to grow at a high single-digit CAGR through 2022, driven by an increasing demand for minimally invasive surgical procedures. As the procedures become less intrusive, recovery times increase while hospital stays decrease.
2. Technological innovations coinciding with a rising obese population preferring bariatric surgery for weight reduction are driving the market.
Technology will continue to evolve to incorporate 3D systems, capsule endoscopy and miniaturized endoscopic device systems offers market expansion opportunities throughout the world.
Single-use devices are also emerging from the market.
3. However, a lack of skilled professionals to handle procedures and reprocessing techniques paired with the high investment cost of endoscopic equipment and the risk and infections associated with the procedures will limit the growth of the device market.
The market is threatened by the emergence of alternate technologies and the stringent regulatory bodies that guide endoscopy device manufacturers.
4. The laparoscopy segment holds the largest share of the market, and is expected to be the fastest-growing segment through 2022.
5. North America, Europe and Asia are the driving markets, geographically.
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