Here are six key trends in the global endoscopy market, according to a Research and Markets report.
1. The market is expected to reach a value of approximately $43 billion by 2019.
2. The market is estimated to grow at a compound annual growth rate of 7 percent from 2014 to 2019.
3. The major drivers for the market growth are an aging population, increase in cancer, diabetes and obesity patients as well as a rise in patient's preference for minimal invasive surgeries.
4. However, the shortage of qualified endoscopic technicians, the high cost of initial investment, contamination risk and patient safety of endoscopic procedures are restrictions to market growth.
5. North America accounts for the largest market share, but there is a growing demand in emerging countries as well, such as India and China.
6. Some of the leading players in the market include Johnson and Johnson, Olympus and Covidien.