A Global Market Insights report has the worldwide endoscopy market surpassing $40 billion by 2024.
Here's what you should know:
1. The U.S. holds the largest market share in the global market, which is anticipated to grow at a 6.4 percent compound annual growth rate through 2024. The sustained growth can be attributed to the prevalence of gastrointestinal diseases among the baby boomer population.
2. GI endoscopy dominates the market with the 40 percent of the market share.
3. The continued worldwide growth is fueled by an aging global population.
4. While cost-efficient disposable endoscopes promote market growth, an aging physician workforce could drastically hurt growth through 2024.
5. Some key manufacturers include:
- Boston Scientific
- Conmed Corp.
- Medtronic
- Fujifilm
- Olympus
- Stryker