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Frost Radar™: Global Endoscopy Market, 2020

Frost Radar™: Global Endoscopy Market, 2020

  • December 2020
  • 38 pages
  • ID: 6019002
  • Format: PDF
  • Frost & Sullivan

Summary

Table of Contents

Globally, the demand for minimally invasive surgeries is trending upward at a quick pace, so consequently the demand for innovative endoscopy devices used in these procedures is anticipated to surge in the mid-to-long term.Moreover, health systems will be forced to clear the backlogs of “elective surgeries” that were postponed due to the COVID-19 pandemic.

Specifically, the amount of surgeries involving the gastrointestinal (GI) tract, urology, and gynecology will flood healthcare systems once the world recovers from the pandemic, thus leading to increased use of endoscopy devices. Because minimally invasive surgeries substantially reduce a patient’s time in hospital and minimize post-operative complications, this approach is preferred by both patients and doctors. The US Food and Drug Administration (FDA) issued safety recommendations to use partially or fully-disposable duodenoscopes; that, in addition to the awareness COVID-19 created about infection prevention have boosted the development of single-use duodenoscopes and endoscopes. The FDA’s recommendation is based on the fact that certain endoscope devices come with complicated designs and hard-to-clean components, which pose contamination risk from one patient to another if not correctly reprocessed and sterilized.To supply innovative endoscopic technologies, leading market players aim to differentiate themselves with disruptive breakthroughs and distinctive market expansion strategies. Novel endoscope types are gaining increased attention, such as capsule administered, artificial intelligence (AI)-powered, and robotic-assisted. These advancements effectively propel the global endoscopy devices market by setting new standards of care delivery and enhanced patient health outcomes.This research indicates that the global endoscopy market, which is currently crowded by traditional rigid and reprocessed endoscopes, will soon experience a major shift toward flexible single-use devices. The technological innovations are expected to introduce major transformation to the market and create new standards of safety, efficiency, cost-effectiveness, and enhanced quality of care.In a field of more than 70 global industry participants, the analyst independently plotted the top 13 companies in this radar™ analysis. The radar™ reveals the market positioning of each company using its Growth and Innovation scores as highlighted in the radar™ methodology. The document presents competitive profiles on each of the companies based on their strengths, opportunities, and market positioning. We discuss strategic market imperatives and the competitive environment that vendors operate in as well as make recommendations for each provider to spur growth.
Author: Suchismita Das

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