Here are five things to know about the endoscopy devices market, according to GBI Research.
1. The global market for endoscopy devices is predicted to exceed $6.5 billion by 2016 with a compounded annual growth rate of 4 percent spanning from 2009 to 2016.
2. The global endoscopy market is driven by an emphasis and increased focus on minimally invasive surgeries, such as natural orifice transluminal endoscopic surgery and medical robotics-assisted surgery. Individuals are shown to have an increased preference for outpatient minimally invasive surgeries due to fewer tissue traumas and faster recovery.
3. The U.S. is the largest market for endoscopy devices, with a 46 percent contribution to the market. Europe closely follows with a 27 percent contribution. Currently, the value of the U.S. market for endoscopy devices is $2.3 billion and is forecast to reach $3.1 billion by 2016, increasing the U.S. market to 48 percent.
4. Capsule endoscopy systems are projected to be the fastest growing category of endoscopic devices due to a high level of comfort experienced by patients, compared to flexible and rigid endoscopes. However, flexible endoscopes currently continue to be the largest category of endoscopic devices in the global market, with a 48 percent contribution. This category is forecast to surge to 59 percent by 2016.
5. Olympus Medical Systems Corporation currently maintains the largest share of the global endoscopic devices market at 34 percent. The second largest market sharer is FUJIFILM, which has a 6 percent share of the global market.
Learn more about Endoscopy Devices Market to 2016.
1. The global market for endoscopy devices is predicted to exceed $6.5 billion by 2016 with a compounded annual growth rate of 4 percent spanning from 2009 to 2016.
2. The global endoscopy market is driven by an emphasis and increased focus on minimally invasive surgeries, such as natural orifice transluminal endoscopic surgery and medical robotics-assisted surgery. Individuals are shown to have an increased preference for outpatient minimally invasive surgeries due to fewer tissue traumas and faster recovery.
3. The U.S. is the largest market for endoscopy devices, with a 46 percent contribution to the market. Europe closely follows with a 27 percent contribution. Currently, the value of the U.S. market for endoscopy devices is $2.3 billion and is forecast to reach $3.1 billion by 2016, increasing the U.S. market to 48 percent.
4. Capsule endoscopy systems are projected to be the fastest growing category of endoscopic devices due to a high level of comfort experienced by patients, compared to flexible and rigid endoscopes. However, flexible endoscopes currently continue to be the largest category of endoscopic devices in the global market, with a 48 percent contribution. This category is forecast to surge to 59 percent by 2016.
5. Olympus Medical Systems Corporation currently maintains the largest share of the global endoscopic devices market at 34 percent. The second largest market sharer is FUJIFILM, which has a 6 percent share of the global market.
Learn more about Endoscopy Devices Market to 2016.