08.31.11
According to a new report from BCC Research, the global endoscopy equipment market will be worth in excess of $33.7 billion by 2016, growing at a compound annual growth rate (CAGR) of 6.4 percent.
The endoscopy market worldwide was $23.3 billion in 2010 and is projected to reach nearly $24.8 billion in 2011. Laparoscopy accounts for more than 26 percent of the total market and is expected to reach $6.8 billion by end of 2011 and to increase up to $10.6 billion by 2016 at a compound annual growth rate (CAGR) of 9.2%. Endoscopy of the GI track for tumors, adhesions, diverticulitis, etc. is projected to experience an increase from $3.7 billion in 2011 to more than $4.9 billion in 2016, a CAGR of 5.7 percent.
A major segment of the medical devices industry, the endoscope market is experiencing rapid growth which looks set to continue for the next five years. The largest endoscopy segment is laparoscopy, which holds a share of over a quarter of the market.
Significant endoscope technology advances of recent years include narrow-band imaging; high-definition imaging and HDTV; third-eye retroscope; double-balloon endoscopy devices; pillcam; picture archiving and communications systems and robot-assisted endoscopy.
Key players active in the endoscopy market include: Boston Scientific Corp., Covidien, Given Imaging, Ltd., Johnson & Johnson-Ethicon Endo Surgery, Karl Storz GmbH & Co. KG, Olympus Medical Systems, Smith & Nephew Inc. and Stryker.
The endoscopy market worldwide was $23.3 billion in 2010 and is projected to reach nearly $24.8 billion in 2011. Laparoscopy accounts for more than 26 percent of the total market and is expected to reach $6.8 billion by end of 2011 and to increase up to $10.6 billion by 2016 at a compound annual growth rate (CAGR) of 9.2%. Endoscopy of the GI track for tumors, adhesions, diverticulitis, etc. is projected to experience an increase from $3.7 billion in 2011 to more than $4.9 billion in 2016, a CAGR of 5.7 percent.
A major segment of the medical devices industry, the endoscope market is experiencing rapid growth which looks set to continue for the next five years. The largest endoscopy segment is laparoscopy, which holds a share of over a quarter of the market.
Significant endoscope technology advances of recent years include narrow-band imaging; high-definition imaging and HDTV; third-eye retroscope; double-balloon endoscopy devices; pillcam; picture archiving and communications systems and robot-assisted endoscopy.
Key players active in the endoscopy market include: Boston Scientific Corp., Covidien, Given Imaging, Ltd., Johnson & Johnson-Ethicon Endo Surgery, Karl Storz GmbH & Co. KG, Olympus Medical Systems, Smith & Nephew Inc. and Stryker.