The global Endoscopy Visualization Systems Market is estimated to expand from a value of US$ 1.3 Bn in 2021 to a value of US$ 2.2 Bn by 2028 end, and growing at a CAGR of 7.2% during the forecast period.
A significant advancement in endoscope visualization systems is the 3D endoscope visualization system. While endoscopic procedures can benefit from 3D visualization technology’s enhanced field of view, ongoing research and development have focused on the latest developments in customized 3D visualization. The first-ever endoscopy visualization system (by MedicalTek) has just been released; it uses an imaging technique that is simple to set up and modify and provides an adjustable 3D perception of the resulting endoscopic images.
Tier 1 players, who are primarily focusing on cost-effective product development, account for about 3/4th of the total revenue of the endoscopy visualization systems market.
- Leaders in the endoscopy visualization systems landscape are also prioritizing innovative product launches, product portfolio extensions, and strategic collaborations and mergers for an even stronger market footprint.
- Tier 2 and Tier 3 companies, making up for the rest of market revenue, are particularly focusing on regional expansion – especially targeting developing Asian economies.
Endoscopy visualization systems have been in high demand recently, particularly as a result of the paradigm shift to a value-based, sophisticated healthcare system and an increasing number of strategic mergers and acquisitions between top medical device manufacturers.
We anticipate a significant increase in global revenue from endoscopy visualization systems due to the rising demand for minimally invasive surgical procedures and the expanding availability of affordable diagnostic procedures. Although the endoscopy visualization systems market is worth $1 billion globally, it is more likely that in 2019, the endoscopy visualization systems market will grow by over 7% annually. Another significant factor driving the prospects for endoscopy visualization systems shortly, according to a senior research analyst at Futuresource Consulting, is the FDA’s relatively lax clearance guidelines.
Product Type Assessment: Adapting to the Trend of Minimally Invasive Surgery Demand, High-range Endoscopy Visualization Systems Remain the Top SellerThe FMI analyst explains that ever-growing It is abundantly clear that high-range endoscopy visualization systems will continue to generate the greatest amount of revenue for the market given the demand for minimally invasive surgical procedures around the world. High-range endoscopy visualization systems will have a market value share of roughly 50% shortly, thanks to favorable reimbursement policies and the availability of cutting-edge technology systems in this market segment. Mid-range endoscopy visualization systems are also predicted to hold a sizable market value share in 2019, showing a growth rate of over 7% year over year.
Diagnostic Area-wise Analysis: Maximum Opportunities Exist for GI Tract Endoscopy Visualization Systems
More than 65% of the approximately 75 million endoscopic procedures performed globally each year, according to statistics recently published by the American Society of Gastrointestinal Endoscopy (ASGE), are on the female reproductive tract. To achieve the least invasion, a significant number of endoscopies are also carried out through a tiny incision. The year-over-year revenue growth for gastrointestinal tract endoscopy visualization systems will be around 7% in 2019, while it will be higher than 7% for small-incision procedures, per FMI’s projection for the year.
Regional Outlook: the Asia Pacific Becomes an Attractive Growth Platform for Manufacturers of Endoscopy Visualization Systems
Through shifting, demographics and a growing patient base, developing economies are creating a solid foundation for the growth of endoscopy visualization systems, and Future Market Insights provides unique insights on the subject. Sales of endoscopy visualization systems are being boosted in developing Asian economies by an increasing number of endoscopy systems, primarily for disorders of the GI tract, female reproductive system, urinary tract, and respiratory system.
The FMI analyst states that while APEJ is currently the second-largest market for endoscopy visualization systems after North America, Japan is also experiencing significant growth. This is one of the key factors driving market expansion within emerging regional territories. Both the healthy rate of endoscopy visualization system adoption in hospitals and the impressively rising sales at specialty clinics are responsible for this growth.
Endoscopy visualization systems market by Category By Product Type
- High Range EVS
- Mid-Range EVS
- Low Range EVS
- Gastrointestinal Tract
- Respiratory Tract
- Urinary Tract
- Female Reproductive Tract
- Through a small incision
By End User
- Ambulatory Surgical Centers
- Specialty Clinics
- Diagnostic Imaging Centers
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