Market Overview
The Asia Pacific Endoscopy Equipment Market is estimated to be worth $11,032.5 million in the recent years and is expected to reach $18.551 million by the end of 2027.
Market Drivers
The increasing number of gastrointestinal diseases will drive the growth of the Asia Pacific endoscopy market over the forecast period. For example, according to the “Irritable bowel syndrome prevalence and predictors survey in the Mumbai urban slums” published in November 2018, the incidence of IBS was 12.27%, of which 56% were fathers, men and 44% women.
It is also expected that the advancement of the elderly population will contribute to the growth of the market. For example, according to the United Nations Population Fund, the elderly population in the Asia-Pacific region is expected to triple between 2010 and 2050 to reach 1.3 billion people by 2050.
Market Restraints
The negative impact of the US medical device tax and the strict regulatory process that the FDA wants to curb business growth. You
The US government plans to impose a 2.3% sales tax on medical supplies in 2013. United States of America.
In addition, the high cost of endoscopic equipment is also expected to limit market growth.
Market Opportunities
Research and development of robotic biopsy endoscopes should provide good growth opportunities for players in the Asia Pacific endoscopy equipment market. For example, in January 2020, researchers at Chonnam National University in South Korea announced the development of a new wireless biopsy capsule endoscope that uses five degrees of freedom motion and biopsy needles for the intestinal histological analysis mechanism.
The increased adoption of neuroendoscopy will also contribute to the growth of the market. Minimally invasive surgery is less painful than traditional surgery, heals faster and leaves less scarring than traditional surgery.
The Asia Pacific Endoscopy Equipment Market was valued at $10,287.7 million in 2019 and is expected to reach $18.551 million by 2027 and grow at a 7.7% CAGR from 2020 to 2027.
Market Trends
Major players in the market are focusing on getting approval and introducing new products to expand their products. For example, in June 2020, AnX Robotica Corporation’s NaviCam magnetically controlled capsule endoscopy system received a De-Novo classification from the US Food and Drug Administration.
The market has witnessed the introduction of wireless endoscopes that can be used in the operating room.
For example, in May 2020, ScoutCam, a developer of custom vision solutions, embedded the tiny wireless ScoutCam into medical endoscopy equipment.
Market Size and Segmentation
- By Device Type:
- Endoscope Devices:
- Rigid Endoscope
- Flexible Endoscope
- Capsule Endoscopy
- Robot Assisted Endoscopy
- Endoscopic Operative Devices
- Visualization Systems
- By Application:
- Urology/Gynecology Surgeries
- ENT Surgeries
- Neuro/Spinal Surgeries
- Laparoscopy Surgeries
- Others
- By Region:
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Singapore
- New Zealand
- Rest of Asia Pacific
Key Competitors
- Accellent Inc.
- Fujifilm Holding Corporation
- Aesculap Inc.
- Cook Medical Incorporated
- Arthrex Inco
- KARL STORZ Endoscopy-America IInc
- Boston Scientific Corporation
- Olympus Corporation
- 3NT Medical
- Conmed Corporation
- C.R. BARD INC
- AnX Robotica Corporation