The Endoscopy Fluid Management Systems Market is on a trajectory for significant growth, driven by the rising preference for minimally invasive procedures. According to a recent market study by Future Market Insights (FMI), a leading market research firm, the market is currently valued at US$414 million in 2021. This number is expected to climb steadily at a Compound Annual Growth Rate (CAGR) of 7.4%, reaching a projected market valuation of US$683 million by 2028.
Providing a brief overview of the FDA regulations for Class II medical devices such as endoscopes, a new study presented by Future Market Insights offers an exhaustive assessment of the global endoscopy fluid management systems landscape for a 10-year projection period, 2018-2028.
The report covers extensive profiling of the top four performers including a few of the biggest industry names such as Stryker Corporation and Olympus Corporation. However, research indicates that even local players have strong penetration in regional markets.
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Top 3 Insights from Key Players Analysis
While a majority of companies are focusing on new product launches, strategic mergers and acquisitions are likely to emerge as the most profitable developmental decisions shortly. Most of these strategic moves will be primarily directed to address the high price point pressure associated with endoscopy fluid management systems that often affect revenue growth in developing economies.
Major hospital networks in developed regional markets are witnessing M&A between hospitals, which is likely to shape costing of medical devices such as endoscopy fluid management systems – eventually slashing down the profitability margins of manufacturers. “Constantly increasing chronic disease instances, coupled with immense technological advances in the field of endoscopy, is prominently driving the US$ 342 Million market for endoscopy fluid management systems (or irrigation pumps) in recent years,” says a senior research analyst at the company.
Endoscopy Fluid Management Systems Market Prominent Players:
- Karl Storz GmbH & Co KG
- Olympus Corporation
- Richard Wolf GmbH
- Smith & Nephew
- Stryker Corporation
- DePuy Synthes (Johnson & Johnson Services Inc.)
- Cantel Medical Corporation
- Medtronics Plc.
- B. Braun Medical Inc.
- Hologic Inc
Top 5 Insights from Segmental Analysis
With maximum use in laparoscopic procedures, endoscopy fluid management systems continue to register maximum revenue generation through sales of laparoscopy suction irrigation pumps, followed by laparoscopy fluid management systems.
Based on the modality of endoscopy fluid management systems, the Benchtop holds a substantial market value share.
Hospitals register the highest consumption of endoscopy fluid management systems.
Owing to a massive number of cancer survivors in the US, North America’s market for endoscopy fluid management systems is currently accounting for the largest revenue share in the global landscape, followed by Asia Pacific and Europe.
MEA and Latin America are likely to represent a significant incremental opportunity, according to an FMI study.
Healthy Year-over-Year Revenue Growth Projected for Asia Pacific
APAC has become the hotspot for leading medical device companies, which is further intensified by the dramatically growing medical tourism sector. Across APAC, Japan is likely to account for substantial revenue generation, enabling the regional market to secure a second spot in the global endoscopy fluid management systems landscape. FMI projects over 7% year-on-year revenue growth in 2020 and beyond, for this regional market.
Government Regulations Favor Market Growth in Latin America
The Latin American market for endoscopy fluid management systems is thriving at a promising pace owing to favorable government initiatives regarding endoscopic procedures and medical device marketing. Noteworthy demand for laparoscopy suction irrigation pumps within the region is identified to be responsible for the rapid revenue growth of the endoscopy fluid management systems marketplace across Latin America.
Egypt’s End Users Drive Market Growth in MEA
The market for endoscopy fluid management systems in MEA is prominently driven by the improving regulatory landscape related to the marketing of medical devices, pushed further by impressive sales of laparoscopy suction irrigation pump-based endoscopy fluid management systems. FMI spots higher market attractiveness in Egypt owing to the presence of a large number of end users. However, a poor operational environment still remains a major growth barrier for the region.
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Key Segments Covered in Endoscopy Fluid Management Systems Market Survey
Product Type:
- Laparoscopy endoscopy fluid management systems
- Hysteroscopy endoscopy fluid management systems
by Modality:
- Floor Standing endoscopy fluid management systems
- Benchtop fluid management systems
by End-User:
- Hospital endoscopy fluid management systems
- Ambulatory Surgical Centers’ endoscopy fluid management systems
- Specialty clinic’s endoscopy fluid management systems
- Diagnostic center’s endoscopy fluid management systems
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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