Over 75% Revenue Contribution of Leading Manufacturers in the Esophagoscopes & Gastroscopes Market
The esophagoscopes & gastroscopes market is largely dominated by major key players such as Olympus Corporation and Pentax Medical Company who provide various types of endoscopes. These companies are focusing on launching new innovative products in the esophagoscopes & gastroscopes market. In the esophagoscopes & gastroscopes market, companies are focusing on expand their distribution channels in emerging countries, which, in turn, is expected to increase the esophagoscopes & gastroscopes market.
Rising Prevalence of Gastrointestinal Diseases
The rising prevalence of gastrointestinal diseases is a factor mostly responsible for an increase in the use of esophagoscopes & gastroscopes. Gastrointestinal cancer is a common disease among Asian-Americans, as the prevalence rate is around 48.8 per 1,000 hospitalizations, which can increase the growth of the esophagoscopes & gastroscopes market.
The increase in the number of other diseases such as gastroesophageal reflux diseases, gastrointestinal bleeding, stomach cancer, functional gastrointestinal diseases, etc., is also expected to increase the demand for endoscopy procedures, which further propels the demand for esophagoscopes & gastroscopes. Smoking is the major factor causing gastrointestinal diseases .
Other factors that are responsible for causing gastrointestinal diseases are poor diets, urbanizations, etc., which are expected to boost the esophagoscopes & gastroscopes market. Genetics can also be a cause of gastrointestinal diseases.
Increase in the Number of Minimally Invasive Surgeries
Doctors and physicians prefer different types of endoscopes over conventional procedures for detection and treatment, owing to the safety and efficacy of endoscopy procedures. This drives the demand for endoscopes, and is expected to propel the esophagoscopes & gastroscopes market in the long run.
Minimally Invasive surgeries are simple, and the risks associated with them are very low, which is expected to boost the esophagoscopes & gastroscopes market.
According to the Centers for Disease Control and Prevention (CDC), around 48 million surgical procedures were performed in the U.S. alone in 2009. Of these, 1.1 million were cardiac catheterizations, 525,000 endoscopic procedures, and others included coronary artery bypass grafts, total hip replacement, and endoscopic procedures for the large intestines.
Moreover, around 10 million minimally invasive procedures were performed, globally, in 2011. The increase in the number of minimally invasive surgeries is expected to boost the growth of the esophagoscopes & gastroscopes market during the forecast period.
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Rise in Incidence Rate of Lifestyle Diseases in the Geriatric Population Worldwide
The geriatric population is more prone to lifestyle diseases and disorders such as cardiac disorders, diabetes, and obesity, which are the leading causes of illnesses, globally, and will enhance the esophagoscopes & gastroscopes market.
According to the World Health Organization (WHO), life expectancy has increased throughout the world. Age dynamics and increasing longevity have resulted in increasing life expectancy, which eventually has led to a rise in the geriatric population (people aging over 65 years).
Advanced medical and healthcare facilities is also an important factor that is responsible for an increase in the geriatric population.
Thus, the geriatric population has become an important segment for endoscopy procedures. An increase in the prevalence of gastrointestinal procedures for cancer, bleeding, etc., in the elderly population is expected to boost the esophagoscopes & gastroscopes market.
Ease in FDA Clearance
In the endoscope medical devices market, the FDA 510(k) premarket approval process is followed. As per the Food and Drug Administration (FDA) published list of class II (special control), devices that were subjected to certain limitations are now exempted from premarket notification requirements under the Food and Drug Administration Modernization Act of 1997 (known as Modernization Act).
The Modernization Act and exemptions relieve device manufacturers and developers from the need to submit premarket submissions, and enable the FDA to redirect resources to more significant public health issues.
This minimizes the time taken for regulatory approval – reducing costs significantly, and propelling growth of the endoscope and esophagoscopes & gastroscopes markets.
Competitive Landscape of the Global Esophagoscopes & Gastroscopes Market
The competition section of the esophagoscopes & gastroscopes market features the profiles of the key players operating in the esophagoscopes & gastroscopes industry based on their market shares, differential strategies, product offerings, marketing approach, and company dashboard. Some of the esophagoscopes & gastroscopes market key players featured in this report include Shanghai AoHua Photoelectricity Endoscope Co., Ltd., Olympus Corporation, Pentax Medical Company Fujifilm Holdings Corp., and Karl Storz GmbH & Co. KG
TKkey manufacturers offer a wide range of esophagoscope & gastroscope products and services for endoscopy procedures. Shanghai AoHua Photoelectricity Endoscope Co., Ltd. is a medical device company that is engaged in the research and development, manufacture, and sale of endoscopic devices. The company offers veterinary, medical, and industrial esophagoscopes & gastroscopes. It sells its products through a market sales network in China and internationally.
Olympus Corporation offers endoscopic ultrasound systems, endoscopic video imaging systems, endoscope ultrasound systems, and any types of gastrointestinal endoscopes.
Key manufacturers of esophagoscopes & gastroscopes are focusing on novel marketing strategies to increase product penetration. Companies offering esophagoscopes & gastroscopes products are focusing on mergers and new innovative product launches. Many companies are focusing on geographical expansion to boost their esophagoscopes & gastroscopes market share.
An instrument which is introduced into the body to view its internal parts is called an endoscope. There are two types of endoscopes – rigid endoscopes and flexible endoscopes. Rigid endoscopes give an opportunity to reach internal cavities and organs. A flexible endoscope is used for the diagnosis of the internal parts of the body.
About the Report
The company conducted a research study on the esophagoscopes & gastroscopes market for the forecast period 2018 to 2028. The report offers a comprehensive evaluation of the business opportunities prevailing in the esophagoscopes & gastroscopes market, along with insights on the consumption trend, disease incidences, and awareness level for esophagoscopes & gastroscopes, and also market competition. The report elaborates the macroeconomic factors influencing the dynamics of the esophagoscopes & gastroscopes market, and its futuristic potential.
Additional Questions Answered
Some of the additional questions addressed in this report on the esophagoscopes & gastroscopes market are-
- What is the revenue potential of the products related to esophagoscopes & gastroscopes across the regions of North America and Europe?
- Who are the key competitors, and what are their portfolios in the esophagoscopes & gastroscopes market?
- What are major challenges influencing the growth of the esophagoscopes & gastroscopes market?
- How intervention from insurance coverage is shaping the esophagoscopes & gastroscopes market growth?
The esophagoscopes & gastroscopes market has been estimated based on the supply-demand approach. A triangulation methodology is adopted to derive the esophagoscopes & gastroscopes market size, which is primarily based on overall expenditure on life science research, R&D funding, and capital equipment installed base to obtain precise market estimations and insights on life science and biotechnology associated products, technologies, applications, and services.
This information is further validated with rigorous primary research (including interviews, surveys, in-person interactions, and viewpoints of seasoned analysts) and secondary research (including verified paid sources, authentic trade journals, and resourceful databases.
The report offers a comprehensive taxonomy of the esophagoscopes & gastroscopes market based on product type, end user, and region. Based on product type, endoscopes are segmented into rigid endoscopes and flexible endosopes. Based on user, the esophagoscopes & gastroscopes market is segmented into hospitals, ambulatory surgical centres, specialty clinics, and diagnostic centres.