ReportBuyer expects the endoscopy equipment market to boom in the next five years, reaching $35.3 billion and expanding at a 6.2 percent compound annual growth rate.
Here's what you should know.
1. Analysts expect technological advancements to continue driving market growth. Large companies are creating equipment that addresses individual buyers' needs, thereby stimulating growth.
2. Gastrointestinal endoscopy makes up the largest segment of the market.
3. Hospitals are the endoscopy equipment market's largest user.
4. North America is the global leader followed by Europe and the Asian-Pacific regions, respectively. Analysts believe the rest of the world and the Asian-Pacific regions will experience the highest growth through 2021. They attribute the projected growth to government and venture capital investments by China in endoscopy.
5. Some key market players include:
- Ethicon, Inc.
- Olympus Corp.
- Fujifilm Holdings Corp.
- KARL STORZ GmbH & Co. KG
- Stryker Corp.
- Boston Scientific Corp.
- Pentax Medical Corp.