Endoscopy Devices Market Asia Pacific Industry Volume By Region 2016 - 2024

The Asia Pacific endoscopy devices market features a moderate level of consolidation, with the top four vendors collectively accounting for over 60% of the overall market in 2015, states Transparency Market Research in a recent report. These companies, including Ethicon Endo-Surgery, Boston Scientific Corporation, Olympus Corporation, and Stryker Corporation, compete with a large number of small- and medium-sized companies operating across specialty segments, giving rise to an intense level of price competition.

The rising demand for technologically advanced products across developing economies in Asia Pacific could further fuel rivalry among key vendors in the market. So as to stay ahead of the competition in the market, key vendors are adopting the course of innovation and introduction of technologically advanced products. Most of countries in the region being developing economies and having a large base of cost-conscious consumers, focusing on ways of reducing product costs could also enable vendors to reach-out to a larger consumer base.

Transparency Market Research states that the endoscopy devices market in Asia Pacific will expand at a healthy pace of 7.6% CAGR over the period between 2016 and 2024. The market, which had a valuation of US$7.76 bn in 2015, is expected to rise to US$14.8 bn by 2024.

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Rise in Investments and Mergers and Acquisitions to Have Far-reaching Impact on Market’s Trajectory

On a global scale, the endoscopy devices market has witnessed a vast rise in investment in companies already operating in the endoscopy devices business and acquisition of a large number of specialty medical device makers by many global medical device giants. A recent instance is the April 2016 acquisition of Stanmore Implants Worldwide Limited by Stryker Corporation. The vast numbers of mergers and acquisitions have helped the market gain notable level of maturation. This has also allowed global players to increase their scope for market expansion and pay more focus on lucrative regional markets such as Asia Pacific.

The Asia Pacific endoscopy devices market is also driven by the vast rise in the region’s geriatric population, rising disposable incomes, increased emphasis on minimally invasive surgeries, increased healthcare expenditures. With the vast rise in geriatric population, especially in countries such as Japan and China, the number of surgeries employing a variety of endoscopy devices has also skyrocketed.

High Costs of Treatment and Dearth of Trained Surgeons Still Key Challenges for Market

A vast share of population in Asia Pacific still belong to middle class or lower middle class income group. The relatively higher costs of endoscopy devices and inevitably the surgeries and diagnostic methods involving these devices is a huge setback when it comes to serving this demographic. The factor is a key restraint to the overall development of the Asia Pacific endoscopy devices market presently and is expected to remain a key-impact factor for the market for the next few years as well.

Along with this, the factor of lack of adequate specialist surgeons and physicians trained and qualified for using complex medical devices such as endoscopes is also a prominent restraint for the Asia Pacific endoscopy devices market. According to the World Bank, China, India, and Indonesia had 1.8, 0.6, and 0.3 physicians per 1,000 people, including general and specialist medical practitioners.

Nevertheless, factors such as the rising awareness regarding the availability of effective medical devices for treating complex health conditions and rising prevalence of a number of chronic conditions will continue to drive the increased demand for endoscopy devices in Asia Pacific in the next few years. On the basis of geography, Japan led the market in 2015, accounting for a 35% share in market’s overall revenues. The product segment of endoscopy visualization systems dominated, accounting for over 46% of market’s overall revenues in 2015.

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Robust Growth of Global Endoscopy Devices Market Attributed to Increasing Demand for Minimally Invasive Surgeries

Endoscopy devices continue to play an indispensable role in endoscopic surgical advances. The demand for these medical devices has surged exponentially in the last couple of years, and this rise can be attributed to the growing inclination in favor of minimally invasive surgeries. While the major applications of endoscopy devices are still in minimally invasive surgeries or MIS, their applicability has also extended into less risky exploratory medical procedures. Endoscopy has been around for a few decades. A school of medical historians suggest that the origin of the equipment can be traced back to the ancient Roman period. However, the exact period of its origin is yet to be discovered. What makes the history of endoscope more interesting is the fact that some time ago, a team of archeologists discovered an artefact in the Pompeii ruins that resembled an endoscope. Pompeii is believed to have been destroyed in AD 79, deeming it possible for the science of endoscopy to have existed before that time.  

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Modern Endoscopy Begins in Early 19^thCentury

The invention of modern endoscopy devices is, however, ascribed by the contemporary medical historians to Philip Bozzini in 1805. Bozzini, according to findings, used a special tube designed by himself that was named “Lichtleiter” (or light guiding instrument) to examine the urinary tract minutely. Antoine Jean Desormeaux – a renowned French surgeon – later coined the name ‘endoscope’ for the device.

During the initial days of use of endoscopy devices, finding a safe source of light emerged as a major challenge. Thomas Edison resolved the challenge, but it took almost 30 years to practically integrate the light source in an endoscope device. Later on, in 1954, Hopkins designed a prototype of flexible fiber imaging. Many such inventions and technological upgrades later, endoscopy devices have emerged as an indispensable category of medical equipment.

Robust Growth Anticipated for Endoscopy Devices Market

According to a recent report published by Transparency Market Research, the global market for endoscopy devices, which stood at US$24.9 bn in 2012, will grow to US$36.9 bn by 2019. If the figures hold true, the market will exhibit a CAGR of 6.8% during the 2013-2019 period. In the last few years, the global endoscopy devices market has witnessed a robust growth in demand due to the growing preference for cost-effective and minimally invasive endoscopic procedures for surgical operations.

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Endoscopy devices have helped reduce the risk of infections and blood loss due to their use in noninvasive procedures. Hence, the hospital stay for patients who underwent endoscopic procedures is also significantly less, due to the quicker recovery. These are the key reasons encouraging the adoption of endoscopy devices worldwide. Furthermore, advances introduced in endoscopy technology such as miniaturization of components, launch of wireless technology, and HD (high definition) and 3D visualization technologies have made diagnosis and surgery less risky. This has boosted the global endoscopy devices market in recent years. 

Global Endoscopy Devices Market is Expected to Reach USD 36.9 Billion by 2019: Transparency Market Research

According to a new market report published by Transparency Market Research "Endoscopy Devices Market (Endoscopes, Endoscopic Operative Devices, and Visualization Systems) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013-2019" the global endoscopy devices market was valued at USD 24.9 billion in 2012 and is expected to grow at a CAGR of 6.8% from 2013 to 2019, to reach an estimated value of USD 36.9 billion in 2019.

Browse the full Global Endoscopy Devices Market Report  at http://www.transparencymarketresearch.com/endoscopy-devices-market.html

Endoscopy procedures are performed by inserting rod shaped telescope and specialized instruments through small incisions in the body. These procedures can be diagnostic as well as operative, and are explored for various areas of surgery including gastrointestinal, urological, ENT, cardiovascular and joint surgeries. As these are minimally invasive procedures, they provide various advantages over open surgeries such as reduced blood loss, reduced chances of infection, shorter hospital stay, and quick recovery.  Due to these advantages, the adoption of endoscopy is increasing rapidly; especially in the field of oncology.

An endoscopy system comprises of an endoscope, visualization system (which includes the camera, control unit, illumination devices, image processing devices, and display) and various specialized operative instruments (which include energy systems, internal closure devices, irrigation systems, and others). An endoscope that is rigid, finds applications in arthroscopy and laparoscopies and flexible endoscopes have application in gastrointestinal, urology and other systems where rigid endoscope may not reach. Modern endoscopes called as videoscopes have a "chip-on-tip" which deliver better image quality and are more durable. Fiberoptic endoscopes are fragile and delicate, hence get damaged easily. This is a major driver for videoscopes market and the technology is expected to replace fiberoptic and rod-lens systems in the near future. Consistent technological advances have added new products to the market and expanded boundaries of the endoscopy devices market. Capsule endoscopes and robot assisted endoscopes have revolutionized the endoscopy market.

The capsule shaped devices possess built-in camera unit and wireless transmission system which delivers high quality images to external receiver as they pass through the gastrointestinal tract. The device has made diagnosis of gastrointestinal tract more efficient as the capsule is able to deliver images for intestinal areas where flexible endoscope cannot reach. Given Imaging (acquired by Covidien) accounts for about 85% of the global capsule endoscopy market share. Other key players in the capsule endoscopy market include Olympus, IntroMedic and Jinshan Medical. Intuitive Surgical leads the robot assisted endoscopy market with its flagship Da Vinci surgical system. Other companies making their mark in the robot assisted endoscopy market include Endo Control, Inc., Olympus, Meere Company, Inc., MAKO Surgical and Titan Medical, Inc. Visualization systems have been a prominent area of technological advancements.

The development of chromoendoscopy has added another dimension to the evolving market of endoscopy. Three dimensional (3D) camera systems have improved the depth perception and hence reduced errors during surgery and which has further reduced the overall surgery time. Endoscopic ultrasound devices now allow doctors to effectively diagnose intestinal tract, which might be difficult to diagnose otherwise with traditional ultrasound devices. As the ultrasound device is close to the organ as, the images obtained are more accurate giving better examination of the intestinal tract.

Although various merits are propelling the endoscopy devices market, some factors impede the acceptance of several endoscopic devices. Prominent among these factors is the high cost of latest technology devices, which has delayed the penetration of these products in developing countries. Lack of skilled professionals is also a major concern for the market to develop. Considering various market dynamics, companies are eying Asian countries which mainly include India, China, and Japan for lucrative opportunities in future. Rapidly developing economic condition, improving healthcare sector, available disposable income, and large consumer base in emerging economies such as India, China, Brazil and South-East Asia due to high prevalence of diseases will drive the endoscopy devices market in these countries.

Key players in the market are Boston Scientific, Cook Medical, Covidien PLC, Ethicon Endo-Surgery, HOYA Corporation, Intuitive Surgical, Inc. KARL STORZ Endoscopy, Olympus Corporation, and Richard Wolf among others.

The global endoscopy devices market has been segmented as follows:

Global Endoscopy Devices Market, by Device Type 

Endoscope 

• Rigid Endoscope
• Flexible Endoscope    
• Capsule Endoscope
• Robot Assisted Endoscope

Operative Devices  

• Energy Systems
• Suction/Irrigation Systems
• Access Devices
• Operative Hand Instruments
• Others (Insufflation Devices, Wound Protectors, Snares)

Visualization Systems 

• Ultrasound Devices
• Standard Definition (SD) Visualization Systems
• Two Dimensional (2D) Systems
• Three Dimensional (3D) Systems
• High Definition (HD) Visualization Systems
• Two Dimensional (2D) Systems
• Three Dimensional (3D) Systems

Global Endoscopy Devices Market, by Application 

Gastrointestinal Surgeries
Urology/Gynecology Surgeries
ENT Surgeries
Cardiovascular Surgeries
Neuro/Spinal Surgeries
Laparoscopy Surgeries
Arthroscopy Surgeries

Global Endoscopy Devices Market, by Geography 

North America
Europe
Asia-Pacific
Rest of the World

About Us  

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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