Endoscopy Devices Market

Endoscopy Devices Market Size by Application (Laparoscopy, Gastrointestinal Endoscopy, Obstetrics/ Gynecology Endoscopy, Bronchoscopy, Arthroscopy, Mediastinoscopy, Urology Endoscopy (Cystoscopy), Ent Endoscopy, and Others), Product (Visualization System, Endoscope, Accessories, and Other Endoscope Equipment), End-User (Ambulatory Surgery Centers/Clinics, Hospitals, and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-12974
  • Published Date: Aug, 2024
  • Pages: 234
  • Category: Healthcare
  • Format: PDF
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The global endoscopy devices market was valued at USD 41.11 billion in 2023, increasing at a CAGR of 7.60% from 2024 to 2033 and anticipated to reach USD 85.53 billion by 2033. North America is expected to grow the fastest during the forecast period. The increasing use of endoscopic bariatric metabolic therapies and endoscope & visualization technologies in healthcare settings are helping to boost the market growth during the forecast period. Further, the outbreak of COVID-19 has positively impacted the healthcare market and the endoscopy devices industry. This is due to patients' growing number of respiratory and infectious diseases. 

The endoscopy market is experiencing growth driven by several factors, including the increasing prevalence of chronic diseases, a growing geriatric population, and an improved understanding of early diagnosis. Moreover, developed country hospitals are placing greater emphasis on investing in technologically advanced endoscopic instruments and facilities, which has resulted in increased sales for these devices. As advancements have enhanced patient safety, precision, and accuracy in treatments/diagnosis through new technologies employed within endoscopes, the demand for effective and efficient endoscopy devices is anticipated to rise in the upcoming years.

Market Introduction:

The endoscopy procedure employs an endoscope to investigate the interior of a hollow organ or cavity of the body. Endoscopy may investigate symptoms in the digestive system, including abdominal pain, nausea, vomiting, difficulty swallowing, and gastrointestinal bleeding. Endoscopy devices have gained swift popularity in diagnosing and treating several diseases. A large number of patients are choosing to opt for different endoscopic devices for treatment as it allows minimally invasive surgeries. Endoscopic devices in diagnosing significant infections & disorders have become a staple for surgeons and doctors. Endoscopy can also perform various additional activities like imaging and small surgery. An endoscopy device consists of a flexible or rigid tube, eyepiece, light system, camera, lens, and another channel for other medical instruments.

Endoscopy Devices Market Size

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Recent Development

For example, in June 2020, Johnson & Johnson delivered its first Ultra High Definition 4K endoscopic imaging system in China that is not only the first 4K endoscopic imaging system in China but also marks the first time that the firm has manufactured a product representing this technology in the industry.  

For example, in October 2021, Fujifilm Company launched the first FDA-cleared dual-channel endoscope for lower and upper gastrointestinal applications.

Market Dynamics:

Drivers

The increasing demand for minimally invasive procedures: Minimally invasive surgeries offer more significant benefits than conventional open surgery approaches. These advantages may contain smaller incisions, faster recovery times, less pain, scarring, and better accuracy than their counterparts. Further, endoscopic procedures' rising illness burden has been boosted by the increasing prevalence of chronic diseases such as gastrointestinal problems and mucosal lining cancer. This factor also helps to increase market growth. Also, the high incidence of obesity, the rising geriatric population, and the increasing number of chronic ailments are stimulating market growth. In addition, the rise in ambulatory surgical centers also adds to the growing demand for minimally invasive procedures. This is also helping to drive market growth.

The high usage of endoscopy devices: Endoscopy devices are utilized to diagnose or treat diseases or disorders such as Crohn's disease, irritable bowel, stomach ulcer, ulcerative colitis, tumors, infections, blockage, gastroesophageal reflux disease (GERD), hiatal hernia, etc. The increasing applications of endoscopic devices in oncology are the driving factor of the market growth. Moreover, a shift in the trend to utilize disposable endoscopic elements to minimize the procedure price and the chance of cross-contamination is propelling the market growth. Further, the increasing medical conditions due to the rising geriatric population often need endoscopic intervention, such as endometriosis, liver abscess, intestinal perforation, and gallstones are anticipated to drive market growth. The approval & launch of new products is also driving factors of the market growth. In addition, the presence of endoscopic device manufacturers and the growing prevalence of cancer are driving factors of the market growth during the upcoming years.

Restraints:

The high cost of endoscopic devices: The absence of skilled physicians & endoscopists, lack of proper guidelines about proper selection, and usage of automated endoscope reprocessors are hampering the market growth. Furthermore, the possible failure of sales due to the delay in the release of the product and the raised costs incurred due to stringent approval policies put pressure on investments related to the production of new products are the restraining factor of the market. The unfavorable healthcare development, high cost of endoscopy procedures, and limited reimbursement hamper the market growth. Additionally, due to the outbreak of COVID-19, the funding for innovation in endoscopy devices distracted is the restraining factor for the market's growth.

Opportunities:

 The increasing number of medical devices in the emerging market: The technological progress to develop innovative endoscopic devices is a market growth opportunity. Further, the shift of preference against minimally invasive surgical methods over traditional surgeries to reduce hospital stay & minimize post-procedure difficulties are also encouraging to boost the market growth. In addition, the high adoption for the diagnosis & treatment of functional gastrointestinal disorders and cancer cost-effectively is also helping to boost the market growth. Also, the ever-increasing adoption of hyperspectral imaging is another driving factor of the market growth. Moreover, the growing healthcare industry in rising economies, the proliferation in the number of emerging markets, and the advancement in gastrointestinal endoscopic devices are stimulating market growth during the forecast period.

Challenges:

Lack of trained physicians and endoscopists: The absence of skilled endoscopists & physicians in developing countries is a challenging factor in the market growth. Further, the increasing focus of patients towards Ayurveda medicines, the lack of experienced professionals to operate the endoscopy devices, and illness caused by few endoscopic procedures are expected to hamper the market growth during the forecast period.

Regional segmentation analysis:

The regions analyzed for the market include Europe, South America, Asia Pacific, North America, the Middle East, and Africa. North America emerged as the largest market for the global endoscopy devices market, with a 49.4% share of the market revenue in 2023. North America dominates the endoscopy devices market due to the increasing prevalence of multiple chronic diseases, such as diabetes, cancer, and cardiovascular illnesses, coupled with functional gastrointestinal disorders. In addition, technological advancements, favorable reimbursement policies, and the increase in the geriatric population with long-term medical conditions & subsequent are also helping to stimulate market growth in this region. The Asia Pacific is expected to grow the fastest during the forecast period due to the increasing government initiatives to modernize healthcare facilities & constantly develop a start-up landscape. Also, the ever-increasing population of patients with cancer and gastrointestinal disorders in developed countries is propelling the market growth in this region during the forecast period.

Asia-Pacific Region Endoscopy Devices Market Share in 2023 - 49.4%

 

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Application segment analysis

The application segment is divided into laparoscopy, gastrointestinal endoscopy, obstetrics/ gynecology endoscopy, bronchoscopy, arthroscopy, mediastinoscopy, urology endoscopy (cystoscopy), ENT endoscopy, and others. The gastrointestinal endoscopy segment dominated, with a market share of 22.2% in 2023. This growth is attributed to the technological advancements in the field of AI-based devices and robot-assisted endoscopes. A gastrointestinal endoscopy, also known as digestive or gastroscopy endoscopy, is a test utilized to diagnose and treat disorders of the upper digestive system. Further, the upper digestive system contains the oesophagus, the stomach, and the duodenum (the first part of the small intestine). Gastrointestinal endoscopy is a therapeutic and diagnostic procedure that permits one to image, assess, and treat GI illnesses.

Product segment analysis

The product segment is divided into visualization system, endoscope, accessories, and other endoscope equipment. In 2023, the endoscope segment dominated the market with the largest market share of 31.2% and market revenue of 11.89 billion. This growth is attributed to the rise in incidents of chronic disorders such as gastrointestinal disorders and cancer. Further, by 2033, the visualization system segment will likely dominate the market due to technological advancements to enhance imaging capabilities. Also, medical professionals' rising adoption of the High Definition (HD) visualization systems for better imaging outcomes during endoscopic procedures is helping boost the segment's market growth.

End-User segment analysis

The end-user segment is divided into ambulatory surgery centers/clinics, hospitals, and others. In 2023, the hospital segment dominated the market with the largest market share of 43.2% and market revenue of 16.49 billion. This growth is attributed to the ever-increasing government and private funding in the healthcare sector. Further, most hospitals are well equipped with technologically advanced endoscopic facilities in developed economies.

Some of the Key Market Players:
  • Ethicon Endo-surgery LLC.
  • Stryker Corporation
  • Olympus Corporation
  • FUJIFILM Holdings Corporation
  • PENTAX Medical
  • Karl Storz GmbH & Co. KG.
  • Richard Wolf GmbH
  • Boston Scientific Corporation
  • Medtronic Plc (Covidien)
  • Machida Endoscope Co., Ltd
  • Smith & Nephew Inc.

Report Description: 

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2023 USD 41.11 Billion, Volume (Units)
Market size value in 2033 USD 85.53 Billion, Volume (Units)
CAGR (2024 to 2033) 7.60%
Historical data 2020-2022
Base Year 2023
Forecast 2024-2033
Region The key regions are North America, South America, Europe, Asia Pacific, and Middle East & Africa.
Segments Key Segments are application, product, end-user, and regions

Frequesntly Asked Questions

As per The Brainy Insights, the size of the endoscopy devices market was valued at USD 41.11 billion in 2023 to USD 85.53 billion by 2033.

Global endoscopy devices market is growing at a CAGR of 7.60% during the forecast period 2024-2033.

North America region emerged as the largest market for the endoscopy devices.

The market's growth will be influenced by the increasing demand for minimally invasive procedures.

The high cost of endoscopic devices could hamper the market growth.

The increasing number of medical devices in the emerging market will provide huge opportunities to the market.

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Application
          4.3.2. Market Attractiveness Analysis By Product
          4.3.3. Market Attractiveness Analysis By End-User
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. The growing prevalence of gastrointestinal diseases
          5.2.2. The increasing geriatric population
          5.2.3. The high usage of endoscopy devices
          5.2.4. The increasing demand for minimally invasive procedures
    5.3. Restraints
          5.3.1. The high cost of endoscopic devices
    5.4. Opportunities
          5.4.1. The increasing number of medical devices in the emerging market
    5.5. Challenges
          5.5.1. The lack of trained physicians and endoscopists

6. Global Endoscopy Devices Market Analysis and Forecast, By Application
    6.1. Segment Overview
    6.2. Laparoscopy
    6.3. Gastrointestinal Endoscopy
    6.4. Obstetrics/ Gynecology Endoscopy
    6.5. Bronchoscopy
    6.6. Arthroscopy
    6.7. Mediastinoscopy
    6.8. Urology Endoscopy (Cystoscopy)
    6.9. Ent Endoscopy
    6.10. Others

7. Global Endoscopy Devices Market Analysis and Forecast, By Product
    7.1. Segment Overview
    7.2. Visualization System
    7.3. Endoscope
    7.4. Accessories
    7.5. Other Endoscope Equipment

8. Global Endoscopy Devices Market Analysis and Forecast, By End-User
    8.1. Segment Overview
    8.2. Ambulatory Surgery centers/Clinics
    8.3. Hospitals
    8.4. Others

9. Global Endoscopy Devices Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Endoscopy Devices Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in Global Endoscopy Devices Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Ethicon Endo-surgery LLC.
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Stryker Corporation
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Olympus Corporation
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. FUJIFILM Holdings Corporation
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. PENTAX Medical
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Karl Storz GmbH & Co. KG.
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Richard Wolf GmbH
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Boston Scientific Corporation
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Medtronic Plc (Covidien)
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. Machida Endoscope Co., Ltd
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
    11.11. Smith & Nephew Inc.
          11.11.1. Business Overview
          11.11.2. Company Snapshot
          11.11.3. Company Market Share Analysis
          11.11.4. Company Product Portfolio
          11.11.5. Recent Developments
          11.11.6. SWOT Analysis

List of Table

1. Global Endoscopy Devices Market, By Application, 2020-2033 (USD Billion)

2. Global Laparoscopy, Endoscopy Devices Market, By Region, 2020-2033 (USD Billion) 

3. Global Gastrointestinal Endoscopy, Endoscopy Devices Market, By Region, 2020-2033 (USD Billion) 

4. Global Obstetrics/ Gynecology Endoscopy, Endoscopy Devices Market, By Region, 2020-2033 (USD Billion) 

5. Global Bronchoscopy, Endoscopy Devices Market, By Region, 2020-2033 (USD Billion) 

6. Global Arthroscopy, Endoscopy Devices Market, By Region, 2020-2033 (USD Billion) 

7. Global Mediastinoscopy, Endoscopy Devices Market, By Region, 2020-2033 (USD Billion) 

8. Global Urology Endoscopy (Cystoscopy), Endoscopy Devices Market, By Region, 2020-2033 (USD Billion) 

9. Global Ent Endoscopy, Endoscopy Devices Market, By Region, 2020-2033 (USD Billion) 

10. Global Others, Endoscopy Devices Market, By Region, 2020-2033 (USD Billion) 

11. Global Endoscopy Devices Market, By Product, 2020-2033 (USD Billion)

12. Global Visualization System, Endoscopy Devices Market, By Region, 2020-2033 (USD Billion)

13. Global Endoscope, Endoscopy Devices Market, By Region, 2020-2033 (USD Billion)

14. Global Accessories, Endoscopy Devices Market, By Region, 2020-2033 (USD Billion)

15. Global Other Endoscope Equipment, Endoscopy Devices Market, By Region, 2020-2033 (USD Billion)

16. Global Endoscopy Devices Market, By End-User, 2020-2033 (USD Billion)

17. Global Ambulatory Surgery centers/Clinics, Endoscopy Devices Market, By Region, 2020-2033 (USD Billion)

18. Global Hospitals, Endoscopy Devices Market, By Region, 2020-2033 (USD Billion)

19. Global Others, Endoscopy Devices Market, By Region, 2020-2033 (USD Billion)

20. North America Endoscopy Devices Market, By Application, 2020-2033 (USD Billion)

21. North America Endoscopy Devices Market, By Product, 2020-2033 (USD Billion)

22. North America Endoscopy Devices Market, By End-User, 2020-2033 (USD Billion)

23. U.S. Endoscopy Devices Market, By Application, 2020-2033 (USD Billion)

24. U.S. Endoscopy Devices Market, By Product, 2020-2033 (USD Billion)

25. U.S. Endoscopy Devices Market, By End-User, 2020-2033 (USD Billion)

26. Canada Endoscopy Devices Market, By Application, 2020-2033 (USD Billion)

27. Canada Endoscopy Devices Market, By Product, 2020-2033 (USD Billion)

28. Canada Endoscopy Devices Market, By End-User, 2020-2033 (USD Billion)

29. Mexico Endoscopy Devices Market, By Application, 2020-2033 (USD Billion)

30. Mexico Endoscopy Devices Market, By Product, 2020-2033 (USD Billion)

31. Mexico Endoscopy Devices Market, By End-User, 2020-2033 (USD Billion)

32. Europe Endoscopy Devices Market, By Application, 2020-2033 (USD Billion)

33. Europe Endoscopy Devices Market, By Product, 2020-2033 (USD Billion)

34. Europe Endoscopy Devices Market, By End-User, 2020-2033 (USD Billion)

35. Germany Endoscopy Devices Market, By Application, 2020-2033 (USD Billion)

36. Germany Endoscopy Devices Market, By Product, 2020-2033 (USD Billion)

37. Germany Endoscopy Devices Market, By End-User, 2020-2033 (USD Billion)

38. France Endoscopy Devices Market, By Application, 2020-2033 (USD Billion)

39. France Endoscopy Devices Market, By Product, 2020-2033 (USD Billion)

40. France Endoscopy Devices Market, By End-User, 2020-2033 (USD Billion)

41. U.K. Endoscopy Devices Market, By Application, 2020-2033 (USD Billion)

42. U.K. Endoscopy Devices Market, By Product, 2020-2033 (USD Billion)

43. U.K. Endoscopy Devices Market, By End-User, 2020-2033 (USD Billion)

44. Italy Endoscopy Devices Market, By Application, 2020-2033 (USD Billion)

45. Italy Endoscopy Devices Market, By Product, 2020-2033 (USD Billion)

46. Italy Endoscopy Devices Market, By End-User, 2020-2033 (USD Billion)

47. Spain Endoscopy Devices Market, By Application, 2020-2033 (USD Billion)

48. Spain Endoscopy Devices Market, By Product, 2020-2033 (USD Billion)

49. Spain Endoscopy Devices Market, By End-User, 2020-2033 (USD Billion)

50. Asia Pacific Endoscopy Devices Market, By Application, 2020-2033 (USD Billion)

51. Asia Pacific Endoscopy Devices Market, By Product, 2020-2033 (USD Billion)

52. Asia Pacific Endoscopy Devices Market, By End-User, 2020-2033 (USD Billion)

53. Japan Endoscopy Devices Market, By Application, 2020-2033 (USD Billion)

54. Japan Endoscopy Devices Market, By Product, 2020-2033 (USD Billion)

55. Japan Endoscopy Devices Market, By End-User, 2020-2033 (USD Billion)

56. China Endoscopy Devices Market, By Application, 2020-2033 (USD Billion)

57. China Endoscopy Devices Market, By Product, 2020-2033 (USD Billion)

58. China Endoscopy Devices Market, By End-User, 2020-2033 (USD Billion)

59. India Endoscopy Devices Market, By Application, 2020-2033 (USD Billion)

60. India Endoscopy Devices Market, By Product, 2020-2033 (USD Billion)

61. India Endoscopy Devices Market, By End-User, 2020-2033 (USD Billion)

62. South America Endoscopy Devices Market, By Application, 2020-2033 (USD Billion)

63. South America Endoscopy Devices Market, By Product, 2020-2033 (USD Billion)

64. South America Endoscopy Devices Market, By End-User, 2020-2033 (USD Billion)

65. Brazil Endoscopy Devices Market, By Application, 2020-2033 (USD Billion)

66. Brazil Endoscopy Devices Market, By Product, 2020-2033 (USD Billion)

67. Brazil Endoscopy Devices Market, By End-User, 2020-2033 (USD Billion)

68. Middle East and Africa Endoscopy Devices Market, By Application, 2020-2033 (USD Billion)

69. Middle East and Africa Endoscopy Devices Market, By Product, 2020-2033 (USD Billion)

70. Middle East and Africa Endoscopy Devices Market, By End-User, 2020-2033 (USD Billion)

71. UAE Endoscopy Devices Market, By Application, 2020-2033 (USD Billion)

72. UAE Endoscopy Devices Market, By Product, 2020-2033 (USD Billion)

73. UAE Endoscopy Devices Market, By End-User, 2020-2033 (USD Billion)

74. South Africa Endoscopy Devices Market, By Application, 2020-2033 (USD Billion)

75. South Africa Endoscopy Devices Market, By Product, 2020-2033 (USD Billion)

76. South Africa Endoscopy Devices Market, By End-User, 2020-2033 (USD Billion)

List of Figures 

1. Global Endoscopy Devices Market Segmentation

2. Global Endoscopy Devices Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top- Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Endoscopy Devices Market Attractiveness Analysis By Application

9. Global Endoscopy Devices Market Attractiveness Analysis By Product 

10. Global Endoscopy Devices Market Attractiveness Analysis By End-User

11. Global Endoscopy Devices Market Attractiveness Analysis By Region

12. Global Endoscopy Devices Market: Dynamics

13. Global Endoscopy Devices Market Share By Application (2023 & 2033)

14. Global Endoscopy Devices Market Share By Product (2023 & 2033)

15. Global Endoscopy Devices Market Share By End-User (2023 & 2033)

16. Global Endoscopy Devices Market Share By Regions (2023 & 2033)

17. Global Endoscopy Devices Market Share By Company (2023)

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global endoscopy devices based on below mentioned segments:

Global Endoscopy Devices Market by Application:

  • Laparoscopy
  • Gastrointestinal Endoscopy
  • Obstetrics/ Gynecology Endoscopy
  • Bronchoscopy
  • Arthroscopy
  • Mediastinoscopy
  • Urology Endoscopy (Cystoscopy)
  • Ent Endoscopy
  • Others

Global Endoscopy devices Market by Product:

  • Visualization System
  • Endoscope
  • Accessories
  • Other Endoscope Equipment

Global Endoscopy devices Market by End-User:

  • Ambulatory Surgery centers/Clinics
  • Hospitals
  • Others

Global Endoscopy Devices by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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