Global Gastrointestinal Endoscopy Devices Market 2016-2020

Endoscopy Devices Market Size

The global gastrointestinal (GI) endoscopy devices market is anticipated to grow at a steady rate and will post a CAGR of more than 5% during the forecast period. The increasing popularity of minimally invasive procedures will drive the growth prospects for the global gastrointestinal endoscopy devices market for the next four years. Traditional open surgeries involve a large number of complications, which compels the health centers to adopt GI endoscopy devices across the globe. For instance, conventional open surgeries can cause various post-operation complications such as pain, blood clots, fatigue, muscle atrophy, and infections. Some of the factors responsible for the increasing popularity of minimally invasive surgeries include the reduced cost and hospital stay, lower risks of post-operation infections, rapid results, and a faster recovery period.

Endoscopy Devices Market Share by Drivers

Another major factor that drives the adoption of GI endoscopy devices in various medical facilities is the increasing awareness of the benefits of the minimally invasive surgeries. Also, most of the vendors are providing training to the surgeons to perform endoscopy surgeries to increase the penetration of these devices worldwide. Apart from these factors, the minimally invasive surgeries are also undertaken during critical conditions, which cannot be accomplished through conventional open surgeries.

The increasing use of wireless capsule endoscopy will drive the growth prospects for the global gastrointestinal endoscopy devices market until the end of 2020. Capsule endoscopy to diagnose GI disease is used by many physicians worldwide because it is superior to barium X-ray testing and other traditional processes. One of the major factors responsible for propelling the market’s growth is increasing technological advancements in capsule endoscopy. Another major factor that boosts the demand for capsule endoscopy is its ability to produce high-quality images in comparison to conventional diagnostic procedures.

Endoscopy Devices Market: Competitive landscape and key vendors