South Asia Flexible Endoscope Market by Application (Bronchoscopy, Arthroscopy, Laparoscopy, Urology Endoscopy, Neuro Endoscopy, Gastrointestinal Endoscopy, Obstetrics/Gynecology Endoscopy, ENT Endoscopy, and Others) and End User (Hospitals, Clinics, and Others): Opportunity Analysis and Industry Forecast, 2017

Overview

"According to a new report published by Allied Market Research, titled,""South Asia Flexible Endoscope Market by Application and End-user: Opportunity Analysis and Industry Forecast, 2018 - 2025"",the market was valued at $284 million in 2017, and is projected to reach $510 million by 2025, growing at a CAGR of 7.4% from 2018 to 2025.

Flexible endoscopes are optical medical instruments that help screen and execute diagnostic interventions inside the hollow cavities and visceral organs of the body, such as the gastrointestinal (GI) tract, brain, lungs, abdomen, and others. The increase in the number of endoscopic procedures due to growing ailments, such as abdominal pain, ulcers, digestive tract bleeding, abnormal growths in the colon, and other abdominal & gastrointestinal diseases, is expected to boost the market growth. The market for a flexible endoscope has witnessed tremendous growth in recent years, owing to the rise in patient preference toward minimally invasive surgeries.

The major factors that boost the growth of the South Asian flexible endoscope market are technological advancements in visualization systems (such as 4K cameras to improve the image and video quality), the surge in preference for minimally invasive surgeries, and rise in adoption of endoscopy procedures. In addition, an increase in unmet medical needs in the developing countries and miniaturization of endoscopic devices are anticipated to offer lucrative opportunities for market growth. However, the dearth of skilled professionals and high costs associated with medical video scope hamper the market growth. Conversely, the unmet medical needs in the developing countries along with rising in disposable incomes of the South Asian population is also anticipated to provide lucrative opportunities for the market during the forecast period.

By application, the laparoscopy segment dominated the flexible endoscopy market, accounting for a revenue nearly one-third of the market share in 2017, growing at a CAGR of 7.4% from 2018 to 2025. This is attributed to an increase in obese population and rise in demand for minimally invasive surgeries such as laparoscopy for weight reduction (bariatric surgeries). Manufacturers of laparoscopy devices have focused on developing robot-assisted endoscopy devices and sophisticated endoscopy cameras with 4-LED multi-light technology to ease the overall procedure.

The hospital's segment led the market with more than half of the market share in 2017. Flexible endoscopes majorly find application in elite hospitals, as they are an expensive modality. Sophisticated visualization systems equipped with high-definition cameras, narrow band imaging, and magnification systems have revolutionized the medical sector, especially minimally invasive surgeries, by enhancing visibility and improving image quality during endoscopy procedures. All these factors together drive the demand for flexible endoscope devices for visualization and screening interventions.
Key Findings of the South Asia Flexible Endoscope Market:

Laparoscopy application accounted for approximately one-third share of the market in 2017.
India accounted for more than two-thirds market share in 2017 and is expected to maintain this trend throughout the forecast period.
The hospital's segment is anticipated to grow at a CAGR of 6.2% from 2018 to 2025.
The gastrointestinal endoscopy segment is estimated to grow at the highest CAGR of 8.3% during the forecast period.

The report provides an extensive competitive analysis and profiles of the key market players, such as Boston Scientific Corporation, Conmed Corporation, Fujifilm Holdings Corporation, HOYA Corporation, Johnson & Johnson (Ethicon, Inc.), Karl Storz GmbH & Co Kg, Olympus Corporation, Stryker Corporation, Vimex sp. Z o.o (Vimex endoscopy). The other players included in the value chain analysis (but not included in the report) are Richard Wolf GmbH, Hill Rom holding Inc., Smith & Nephew, and Xion GmbH,
About Us:

Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry."