The global Endoscopic Operative Devices market is expected to reach USD 11.35 Billion by 2028, according to a new report by Reports and Data. Endoscopy has also gained importance for minimally invasive surgeries. For instance: Over the years, endoscopic spine surgeries have witnessed a rising trend. In case of this surgery, patients are provided with quicker recovery and less pain than traditional spine surgery. Moreover, other benefits such as minimal or no blood loss, faster recovery and preservation of spinal mobility have also led to a wider acceptance of this method.
Increasing adoption of minimally invasive spine surgery among patients in the U.S. is also likely to stimulate market growth. The demand has almost doubled in the UK centers over the last 5 years. Similarly, in the U.S., the National Health Statistics Report for 2017 suggested that the most frequently performed procedures in the country included endoscopy of the large intestine which accounted for around 4 million and endoscopy of the small intestine which was around 2.2 million.
There has been rise in the investments for Endoscopic surgeries as well as into the respective diagnostic equipment. For instance, in September 2016, Beacon Hospital invested over €34 million in new diagnostic equipment and world-class Endoscopy, Oncology and Urology Facilities.
Further key findings from the report suggest:
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Asia Pacific is expected to lead the market growth over the coming years owing to rapid advancements in the healthcare sector in APAC countries such as India, China, and Japan. North America is anticipated to register the highest market growth over the forecast period attributed to the increasing availability of robust healthcare and clinical settings, legalization of medical marijuana, favorable reimbursement scenario, presence of key market players, and rapid technological advancements in the region.
The growing popularity of over-the-counter medications driving market growth
Growing incidence of acute and chronic diseases and lesser access to advanced medical facilities owing to low disposable income levels are driving the demand for over-the-counter medications. Availability of generic and low-cost alternatives to medical therapies are some other factors playing a major role in driving demand for over-the-counter medications.
Restriction on product launches and R&D activities to hamper the market growth
The imposition of strict government regulations and shortage of funds has put a halt on product launches and R&D activities and is expected to restrain market growth over the forecast period. In addition, the launch of expensive drugs and therapies and increasing regulations regarding safety and approvals are also hampering the market growth.
Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, mergers and acquisitions, collaborations, and joint ventures to gain a robust footing in the market.
Top Companies Profiled in the Report:
Boston Scientific Corporation, Medtronic plc. Ethicon Endo-Surgery, Inc , Fujifilm Holdings Corporation Stryker Corporation, Smith & Nephew PLC, Olympus Corporation, HOYA Corporation, Intuitive Surgical, Inc , Cook Medical, Inc.
Endoscopic Operative Devices Market Segmentation:
Type (Revenue, USD Million; 2018–2028)
Applications (Revenue, USD Million; 2018–2028)
Regional Outlook:
Frequently asked questions addressed in the report:
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