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Analysis of the Global Endoscopy Devices Market

  • July 2014
  • -
  • Frost & Sullivan
  • -
  • 369 pages

Summary

Table of Contents

Advances in Technology Create New Business Opportunities

This study explores the 2 broad segments of the global endoscopy devices market, namely applications (scopes) and solution components. An in-depth analysis of products/services, applications, and technologies available to end users is provided. The key topics covered include innovations and developments occurring within the endoscopy devices market, key marketed products of top participants, strategic pipeline assessment, regulatory and reimbursement analysis, key trends, company profiles, and industry highlights of the top market participants. Also, competitive landscape and SWOT analyses, as well as market challenges, drivers, and restraints are identified and analyzed qualitatively. The study period is 2010–2018 with a base year of 2013.

Methodology
-The majority of the quantitative and qualitative information contained in this research service was acquired through primary research conducted with manufacturers, distributors, and key opinion leaders within the endoscopy market. Most interviews were conducted with product managers and marketing managers, vice presidents (VPs) of business units, VPs of marketing, marketing directors, and business development directors from various companies within the endoscopy devices market.
-The analysis contained in this research service is based on the following:
oInformation collected through discussions with market participants and from secondary sources—in-house Frost & Sullivan database, hospital databases, government, industry associations, companies, scientific journals, other Web sites, and credible sources.
oPublic announcements and plans including those by original equipment manufacturers (OEMs), suppliers, and new entrants.
oFrost & Sullivan’s published research and market and technology expertise.
-Forecasts are based on the data and analyses relating to industry challenges, market drivers and restraints, and market trends. If specific revenues or market sizes were unavailable, estimates were derived through consultations with industry experts, augmented by secondary research.
-Growth trends specific to certain market participants are based on consultations, past growth rates, and technology reviews.
-Industry-specific information includes:
oRevenue breakdowns by technology segments and regions specific to the market.
oCompany revenues, market share estimates, and projected growth rates.
oMarket information including customers, regional, and technology trends.
oMarket drivers, restraints, and challenges.

Key Findings
-This global endoscopy devices market provides an in-depth analysis of different products/services, applications, and technologies applicable to end-users.
-The market is highly consolidated with multinational companies present across various regions, including emerging and high-growth markets.
-Emerging Markets present significant growth opportunities for the leading companies, that have historically focused on the US and European markets.
-As the US and European markets reach maturity, the medical device companies will increasingly tap the Emerging Markets for opportunities because these markets are witnessing fast economic growth, improvement in hospital infrastructure, and increasing public and private spending on healthcare.
-With national healthcare costs increasing due to the aging population and a rapidly increasing incidence of chronic disease, cost-saving alternatives to traditional therapies are gaining importance.
-The long-term cost efficiency associated with the use of minimally-invasive surgical devices and therapeutic treatments facilitates increased adoption of these technologies in various regions such as the the United States and Europe.
-The innovations and technological advancements in this market have been moderate and focused mainly on visualization, imaging, and miniaturization. Overall, the United States remains the largest growing market, contributing nearly % to the total global endoscopy devices market.
-As the number of surgical procedures escalates, the revenue and market for these products is expected to grow steadily, despite the economic slowdown.
-Brand reputation, strategic partnerships with local distributors, enhanced customer loyalty, and faster penetration are factors for increased penetration in all regions.
-Consolidation across facilities and among physicians as well as cost containment are some of the most impending market challenges.
-Among the Emerging Markets (Vietnam, the Philippines, and Indonesia), hospitals in Vietnam have a higher penetration of endoscopy. The country organizes training programs and workshops on various surgical disciplines through sponsorship and donation.
-In China, the rural areas are potential markets for medical equipment. The government has accorded priority to the development of rural healthcare, so the rural areas are expected to offer vast potential for medical equipment in China.
-Healthcare investments by the private sector have had multifold growth across Southeast Asia. These hospitals have identified medical tourism as one of the key strategies to drive growth and, in turn, have invested in endoscopy.

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