What is Rigid Endoscope Market?
According to the World Health Organization (WHO), between 2000 and 2050, the proportion of the world's population that is aged 60 years will double from about 11% to 22%. This aging population is the main end-user of gastrointestinal endoscopy and colonoscopy procedures. With the growing number of elderly people, age-related ailments it is expected to escalate the demand and consumption of rigid endoscopes devices. Further, the developments in healthcare facilities, rising disposable income and growing demand for technologically advanced products is driving the rigid endoscope market. Endoscopy is a minimally invasive (MI) procedure which is used for diagnosis, prevention, and treatment of complications in the internal organs. The benefits of endoscopy includes low cost, speedy recovery, and less diagnosis time. Rigid endoscopes are ideal instruments to visualize the inner surfaces of small animals without surgery. The image of the internal surface is transmitted via video technology. For the rigid scope, a rod lens system is positioned in the distal end of the endoscope.
The market study is being classified by Type (Global Straight-Rigid Endoscopes and Global Semi-Rigid Endoscopes), by Application (Laparoscopy, Arthroscopy, Gastrointestinal endoscopy, Gynecology endoscopy, ENT endoscopy, Urology endoscopy, Neurology endoscopy and Others) and major geographies with country level break-up. According to AMA, the Global Rigid Endoscope market is expected to see growth rate of 8.8%
Karl Storz, Inc. (United States), Olympus Corp. (Japan), Stryker Corp. (United States), Richard Wolf (Germany), B. Braun Melsungen (Germany), Arthrex (United States), Ecleris (United States), HMB Endoscopy products (United States), Inscope Medical (United States), Integrated Endoscopy (United States), Maxerendoscopy (Germany), NeoScope Technology Solutions (United States), Optomic Espana (Spain), Hoya Corp.(Japan), Ethicon Endo surgery Inc. (United States), Smiths Group plc (United Kingdom), Fujifim Holding Corp.(Japan) and Boston Scientific Corp. (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Aesculap Inc.(United States), Covidien PLC (Ireland), Conmed Corp. (United States) and Henke-Saas Wolf GmBH (United States).
The Rigid Endoscopes market is highly fragmented due to the presence of numerous large and medium-sized players who are involved in offering technologically advanced products and services to patients across the world. The manufacturers are extensively competing against each other based on factors such as refurbished equipment, capital support for product or technology Upgradation, and distribution partnership and are trying to remain competitive in the market by adopting collaboration and premium priced strategies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Rigid Endoscope market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Rigid Endoscope market by Type, Application and Region. On the basis of Type, Global Straight-Rigid Endoscopes are dominating the market in the year 2020
On the basis of geography, the market of Rigid Endoscope has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Preference for Less Painful and Minimally Invasive Surgeries
- Increasing Prevalence of Disease like Cancer and Gastrointestinal (GI) Disease
- Growing Geriatric Population Prone To Chronic Disease and Burden of GI Disease
- Rising Disposable Income Leading to Affordability and Advancement in Healthcare Facilities
- The Emergence of 4k Rigid Endoscopes
- Countries Are Offering Health Insurance for the Low-Risk Endoscopic Procedure
- High Demand of Minimally Invasive Procedure Leading To Postoperative Trauma and Complications Will Spur the Market
- The High Cost of Endoscopy Surgeries
- Lack of Skilled Endoscopists
- High Healthcare Spending
- Huge Investment in R & D Leading to Technological Advancement
- The Rising Popularity of Refurbished Rigid Endoscopes
Market Leaders and some development strategies
In August 2018, S Endoscopy, a leader in endoscopy device design and manufacturing, announced the release of the Revital-Ox Bedside Concentrate pre-cleaning kit enzymatic detergent and impregnated sponge designed for bedside pre-cleaning of flexible and rigid endoscopes, accessories and other medical devices. and In May 2018, KARL STORZ Endoscopy-America, Inc., announced the commercial launch of the PDD Blue Light Flexible Video Cystoscopy System for enhanced detection of non-muscle invasive bladder cancer (NMIBC) with the approval of a supplemental new drug application and a Premarket Approval supplement from the U.S. Food & Drug Administration (FDA).
Key Target AudienceEndoscopes Manufacturing Companies, Suppliers and Distributors, Hospitals, Diagnostic Centers, and Medical colleges, Independent Surgeons, Ambulatory Surgery Centers, Teaching Hospitals, Academic Medical Centers, Government Bodies and Venture Capitalists