Zion Market Research analysts believe the endoscopy device market will rocket between 2016 and 2021 growing at a compound annual growth rate of 6.12 percent.
Here's what you should know:
1. The market was valued at $29.5 million in 2015, but Zion analysts believe it'll reach $41.8 million by 2021.
2. Zion analysts attribute the growth to minimally invasive procedure and the escalating prevalence of health disorders.
3. Growth could be hampered by a lack of skilled professionals in the market as well as issues surrounding scope sanitization.
4. Gastroenterologists are the biggest users of endoscopes accounting for 38.41 percent of total market share in 2015.
5. The North American market leads the world in endoscope usage, but the Asian-Pacific market is expected to experience the most growth through 2021.
6. Major endoscopy companies include: Conmed Corp. Olympus, Fujifilm, Karl Storz Endoscopy, Boston Scientific and Pentax Medical Corp.