The global endoscopy market is expected to reach approximately $47 billion by 2020, according to a report by IQ4I Research & Consultancy.
Here are eight key trends in the market:
1. The market is estimated to grow at a compound annual growth rate of around 7 percent from 2014 to 2020.
2. The major drivers for the market growth are aging population, increase in cancer, diabetes and obesity patients as well as a rise in patient's preference for minimal invasive surgeries.
4. The endoscopes segment commanded the largest market in 2013.
5. The visualization and documentation system is expected to grow at the highest CAGR of nearly 10 percent during the forecast period.
6. North America accounts for the largest market share with increase in endoscopic treatment options and obese population followed by Europe and Japan.
7. However, there is also a growing demand for the endoscopy market in the emerging countries such as India and China.
8. Some of the leading players in the market include Johnson and Johnson, Olympus Corporation and Covidien.
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