Asia Pacific Endoscopy Devices Market is Expected to offer Lucrative Growth by 2028 | Accellent, Aesculap, Arthrex Inco,
SEATTLE, UNITED STATES, UNITED STATES, January 7, 2022 /EINPresswire.com/ -- New Research Study "Asia Pacific Endoscopy Devices Market 2022 analysis by Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges and Investment Opportunities), Size, Share and Outlook" has been added to Coherent Market Insights.
Endoscopes are used in a variety of applications, including gastrointestinal endoscopy (for GI tract related applications), arthroscopy (for joints), cystoscopy, hysteroscopy, and ureteroscopy (for urology applications), laparoscopy (for various procedures in the pelvic and abdominal area), bronchoscopy (for lungs), laryngoscopy (larynx), and other forms that cover various sections.
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Drivers:
R&D of new endoscopy technologies is expected to boost the growth of the Asia Pacific endoscopy devices market over the forecast period. For instance, Xenocor, Inc. was awarded a patent in June 2020 for the Xenoscope Single-use Laparoscopic Device, which offers useful protection for materials used in the disposable scope that minimize fogging and increase the quality of the system's resulting images.
Restraints:
If duodenoscopes are not properly cleaned and disinfected, they can spread infection from patient to patient. Such a situation is likely to stifle business growth.
Key Takeaways:
Asia Pacific endoscopy devices market was valued at US$ 10,287.7 Mn in 2020 and is forecast to reach a value of US$ 18,551.0 Mn by 2028 at a CAGR of 7.7% between 2021 and 2028.
Asia Pacific endoscopy devices market is estimated to account for US$ 11,032.5 Mn in terms of value in 2020 and is expected to reach US$ 18,551.0 Mn by the end of 2027.
Rising prevalence of gastrointestinal diseases and technological innovation are two major factors driving the growth of the Asia Pacific endoscopy devices market during the forecast period.
In terms of pricing, Visualization Systems dominated the Asia Pacific endoscopy devices market in 2019, accounting for 47.3 percent of the market, followed by endoscopic operative devices and endoscope devices. The segment's growth is being aided by technological advances in visualization systems such as endoscopic ultrasound devices, high definition (HD) visualization systems, and others.
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Market Trends:
Major market players are concentrating on the acceptance and introduction of new products in order to extend their product range. For instance, 3NT Medical obtained 510(k) clearance from the US Food and Drug Administration in June 2020 for the Colibri Micro ENT Scope, a single-use endoscope specifically designed for otology.
Cleaning materials for endoscopy instruments are also available on the market. Toray Industries Inc., for instance, introduced TORAYSEE for ES Micro Fiber Wiping Cloths in April 2020, which are designed to clean endoscope lenses during laparoscopic surgery.
Competitive Landscape:
Major players operating in the Asia Pacific endoscopy devices market include Boston Scientific Corporation, Olympus Corporation, KARL STORZ Endoscopy-America, Inc., 3NT Medical, AnX Robotica Corporation, Accellent Inc., Aesculap Inc., Arthrex Inco,C.R. BARD INC, Conmed Corporation, Cook Medical Incorporated, and Fujifilm Holding Corporation.
Key Developments:
In March 2020, the surgiVue single-use platform of micro endoscopes earned FDA 510(k) clearance from enlightenVue.
In January 2020, The IMAGINA Endoscopy System, an endoscopy platform for gastrointestinal (GI) procedures at ambulatory surgery centers, obtained FDA 510(k) clearance from PENTAX Medical.
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The following are the study objectives for this report:
ยท SWOT Analysis focuses on worldwide main manufacturers to define, assess, and analyse market competition. By kind, application, and region, the market is defined, described, and forecasted.
ยท Examine the global and main regional market potential and advantage, opportunity and challenge, constraints and risks.
ยท Determine whether trends and factors are driving or limiting market growth.
ยท By identifying high-growth categories, stakeholders would be able to analyse market potential.
ยท Conduct a strategic study of each submarket's growth trends and market contribution.
ยท Expansions, agreements, new product launches, and acquisitions in the market are all examples of competitive developments.
ยท To create a strategic profile of the main players and analyse their growth plans in depth.
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