#Endoscopy #Devices #Market #Size #Reach #USD #Billion
Newark, Oct. 28, 2022 (GLOBE NEWSWIRE) — As per the report published by The Brainy Insights, the global endoscopy devices market is expected to grow from USD 38.21 billion in 2022 to USD 68.65 billion by 2030, at a CAGR of 7.60% during the forecast period 2022-2030.
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The growing prevalence of diseases that need endoscopy procedures, like cancers and gastrointestinal disorders, is anticipated to expand the endoscopy devices industry demand during the projection period. Moreover, the extended support & coverage for endoscopic screening and care, the increasing incidence of chronic diseases, and the improving healthcare infrastructure in developing countries are also helping to propel market growth. However, the lack of awareness, low adoption of disposable endoscopes in diagnostic and hospital centers, and high cost of sophisticated endoscopy devices are restraining the market growth. Furthermore, a strong pipeline of endoscopy device products is an opportunity for market growth.
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To enhance their market position in the global endoscopy devices market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• For example, in November 2020, Olympus Company introduced two devices procedure kits and hybrid tubing. These instruments are launched to reduce procedural time and contamination.
Market Growth & Trends
The growth of the endoscopy devices market is driven by the increasing geriatric population across the globe, the growing chronic disease burden, and favorable reimbursement policies. Moreover, the rising demand for advanced…