The growth of this market is majorly driven by factors such as favorable government initiatives, rising number of hospitals and growing hospital investments in endoscopy facilities, technological advancements, and rising prevalence of diseases that require endoscopy.
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The high cost of endoscopy procedures & equipment and limited reimbursement in developing countries is expected to restrain the growth of this market during the forecast period.
The global endoscopy equipment market is projected to reach USD 34.82 Billion by 2022 from an estimated USD 25.58 Billion in 2017 at a CAGR of 6.4%.
The endoscopy equipment market is well established owing to the dominance by prominent market players. In 2016, Olympus (Japan), KARL STORZ (Germany), Stryker (US) held a share of approximately 35% to 40% of the overall market.
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The Olympus Corporation is dominated the endoscopy equipment market in 2016. In the field of endoscopy, the company offers endoscopes, visualization systems, other endoscopy equipment, and accessories. These products are offered under categories such as gastroscopes, colonoscopes, laparoscopes, bronchoscopes, hysteroscopes, mobilescopes, laryngoscopes, cystoscopies, ureteroscopes, telescopes, endoscopic ultrasound, sphincterotomy, energy devices, imaging systems, camera heads, capsule endoscope sets, insufflation units, and non-capital equipment, among others.
KARL STORZ is one of the major players in the endoscopy equipment market. The company provides a wide range of products in this market including endoscopes, visualization systems, electronic and mechanical equipment, and accessories for various endoscopy applications. The company has a strong geographic reach with over 50 subsidiaries in around 40 countries across Europe, the Americas, Africa, and Asia Pacific.