An Allied Market Research report projects tremendous growth for the endoscopy device market capped by a goal of $40.8 billion by 2022.
Here's what you should know.
1. Analysts say the current endoscopy device market was at $27.7 billion in 2015. Projections have the market growing at a compound annual growth rate of 5.7 percent through 2022.
2. Flexible endoscopes dominate the market to the tune of approximately 75 percent of the market share. Analysts expect the flexible endoscope market share will continue to grow as the prevalence of gastrointestinal diseases continues to rise.
3. North America is the market leader and controls more than a third of the market.
4. Analysts anticipate that laparoscopic interventions will have the most revenue throughout the forecast period, but expect gastrointestinal endoscopy interventions to experience the most growth through 2020.