Future Market Insights (FMI), a renowned industry research firm, has unveiled compelling insights about the Global Endoscopy Fluid Management Systems Industry. The market continues to exhibit significant consolidation, with Tier 1 players consistently contributing to over 70% of the market’s revenue.
In 2021, the global Endoscopy Fluid Management Systems Industry was valued at a noteworthy US$414 million. FMI’s latest projections indicate robust growth at a Compound Annual Growth Rate (CAGR) of 7.4%, ultimately propelling the market to a substantial worth of US$683 million by the year 2028.
The FMI report offers a comprehensive overview of the FDA regulations governing Class II medical devices, such as endoscopes. It presents a meticulous analysis of the global endoscopy fluid management systems landscape for an extensive 10-year projection period spanning from 2018 to 2028.
This comprehensive report delves into the extensive profiles of the top four market leaders, including industry giants like Stryker Corporation and Olympus Corporation. It is important to note that even local market players have made impressive inroads, demonstrating strong penetration in regional markets.
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Top 3 Insights from Key Players Analysis
While a majority of companies are focusing on new product launches, strategic mergers and acquisitions are likely to emerge the most profitable developmental decisions in the near future. Most of these strategic moves will be primarily directed to address the high price point pressure associated with endoscopy fluid management systems that often affects revenue growth in developing economies.
Major hospital networks in developed regional markets are witnessing M&A between hospitals, which is likely to shape costing of medical devices such as endoscopy fluid management systems – eventually slashing down the profitability margins of manufacturers. “Constantly increasing chronic disease instances, coupled with immense technological advances in the field of endoscopy, is prominently driving the US$ 342 Million market for endoscopy fluid management systems (or irrigation pumps) in recent years,” says a senior research analyst at the company.
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
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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 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 dramatically growing medical tourism sector. Across APAC, Japan is likely to account for substantial revenue generation, enabling the regional market secure 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
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 endoscopy fluid management systems marketplace across Latin America.
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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, poor operational environment still remains a major growth barrier for the region.
Key Segments Covered in Endoscopy Fluid Management Systems Industry Survey
Endoscopy Fluid Management Systems Industry by Product Type:
- Laparoscopy endoscopy fluid management systems
- Hysteroscopy endoscopy fluid management systems
Endoscopy Fluid Management Systems Industry by Modality:
- Floor Standing endoscopy fluid management systems
- Benchtop fluid management systems
Endoscopy Fluid Management Systems Industry by End-User:
- Hospitals endoscopy fluid management systems
- Ambulatory surgical centers endoscopy fluid management systems
- Specialty clinics endoscopy fluid management systems
- Diagnostic centers 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 faced by clients 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 stands as 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 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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