The Fact That More Than 50% of the Americans Contract Chronic Diseases Is Driving the Endoscopy Procedures Estimates Market
United States, Rockville MD, July 14, 2022 (GLOBE NEWSWIRE) -- As per Fact.MR, a market research and competitive intelligence provider, the global endoscopy procedures estimates market would be valued at US$ 227 Million in 2022 and go steady with a CAGR of 1.5% from 2022 to 2032. Fact.MR has harped on the fact that minimally invasive endoscopic surgeries are being asked for due to rising prevalence of chronic ailments. On these grounds, the global endoscopy procedures estimates market is projected to reach US$ 263 Million by the year 2032.
With the fact stated by National Centre for Chronic Disease Prevention and Health Promotion (NCCDPHP) that 60% of the American adults get infected with chronic ailments, there won’t be anything to stop the endoscopy procedures estimates market from growing in the forecast period.
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Market growth will be fuelled by developments in endoscopic devices that yield high-quality images of the digestive tract, as well as the development of new, cost-effective devices. In 2019, Fujifilm launched 10 new endoscopes to strengthen its offer in interventional gastro-intestinal and interventional pulmonary endoscopy with advanced features such as Ultra-Slim, compactability, and removable single-use end caps for manual cleaning.
What can be expected from the Gastroscopy Segment during the forecast period?
In terms of procedures, the gastroscopy segment is expected to dominate the market in 2022 with a 32% share. This segment has the greatest share due to the increasing number of endoscopic surgeries performed for diagnosis of digestive tract diseases or illnesses of the esophagus.
The segment is also anticipated to grow as the demand for upper endoscopy surgery for patients with cirrhosis of the liver increases. Growth of this segment is further attributed to the fact that gastroscopy is recommended by physicians in order to diagnose several common symptoms, such as indigestion, abdominal pain, dysphagia, excessive vomiting, unusual burping, and so on. Additionally, the growing prevalence of digestion and swallowing disorders drives the growth of this segment. Approximately 15 million Americans suffer from swallowing difficulties, according to the National Foundation of Swallowing Disorders.
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Key Segments Covered in Endoscopy Procedures Estimates Industry Survey
By Application :
Gastrointestinal (GI) Endoscopy
Due to the presence of several major players, the market is highly competitive and fragmented. Companies are undertaking various strategic initiatives to recover losses resulting from the pandemic and to strengthen their market positions. Additionally, these companies make investments that allow them to hold a large share of the market.
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Key players in Endoscopy Procedures Estimates Market
China Resources Phoenix Healthcare Holdings Company Limited
Tenet Healthcare Corporation
Surgical Care Affiliates
Ramsay Health Care
Apollo Hospitals Enterprise Ltd
IHH Healthcare Berhad
Key Takeaways from Endoscopy Procedures Estimates Market Study
The Asia-Pacific holds 44% of the entire market.
Gastroscopy contributes for 32% of the market revenue.
Technological advancements to be the buzzword of endoscopy procedures estimates market
IBS (Irritable Bowel Syndrome) to propel the endoscopy procedures estimates market
North America and Europe are at the matured stage of endoscopy procedures estimates market.
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