The global unilateral biportal endoscopy industry size is anticipated to experience substantial growth, with estimations projecting a surge from US$ 750 million in 2021 to a robust US$ 798 million in 2022. This upward trajectory signals a promising future, projecting a continuous climb at a compound annual growth rate (CAGR) of 6.5% from 2022 to 2032, ultimately reaching a staggering US$ 1500 million.
Attributed to the convergence of factors including the ageing population and substantial financial investments in the healthcare systems of emerging economies, the market is witnessing a significant expansion. This growth is indicative of the escalating demand for innovative medical solutions, underscoring the crucial role played by advancements in healthcare technologies.
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The current projections signify a remarkable 6.5% CAGR growth, representing a compelling opportunity for market players and stakeholders. The sustained growth trajectory not only demonstrates the market’s resilience but also highlights the potential for further advancements and innovation in the sector.
Additionally, due to its high rate of recoverability and classification based on infection risk, reusable segment Unilateral Biportal Endoscopy Aviation is becoming more and more popular. The demand for the aforementioned market is anticipated to increase in the near future as a result of the expanding investment in the healthcare sector and the supportive policies established by US and Canadian hospitals.On the other hand, exorbitant costs and a dearth of skilled endoscopic practitioners are the main obstacles to the growth of the worldwide unilateral biportal endoscopy market.
Key Takeaways from the Market Study:
- Unilateral Biportal Endoscopy for Decompression application segment captures the largest share of more than 40% across the globe, documenting a CAGR of 7% throughout the forecast period.
- Reusable type segment to expand at a CAGR of 6.7% during the forecast period
- Hospitals segment is likely to capture the largest market share of more than 48%
- The North American market is expected to secure USD 720 Million while expanding at a CAGR of 7%
- APAC to record a CAGR of 6.5% during the forecast period
“Increasing prevalence of chronic diseases like cancer and upward trend of adopting less invasive procedure is propelling the demand for the Unilateral Biportal Endoscopy across the world.” says an analyst at Future Market Insights
Competitive Landscape:
Key players in the global Unilateral Biportal Endoscopy market include Endovision Co. Ltd., Karl Storz, Smith & Nephew, Stryker Corporation, CONMED Corporation, Maxer Endoscopy GmbH, Joimax GmbH, Richard Wolf, Jiangsu Bonss Medical Technology Co. Ltd., Kinetix Lifesciences
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Some of the recent key developments among the players are:
- In May 2022, Boston Scientific Corporation announced the worldwide commercial availability of its SpyGlass™ Direct Visualization System for single-operator duodenoscope assisted cholangiopancreatoscopy (SODAC) or visual examination of the bile ducts.
- In Jan 2022, Stryker announced completed the acquisition of all of the issued and outstanding shares of common stock of Vocera Communications, Inc. for US$ 79.25 per share, or a total equity value of approximately US$ 2.97 billion and a total enterprise value of approximately US$ 3.09 billion.
- In May 2022, DLA Piper advised CONMED Corporation in its agreement to acquire privately-held In2Bones Global, Inc. (In2Bones), on a cash-free, debt-free basis, for cash consideration of US$145 million at closing. The deal also includes an additional US$110 million in growth-based earnout payments over four years
More Valuable Insights Available:
FMI, in its new offering, presents an unbiased analysis of the global Unilateral Biportal Endoscopy, presenting historical market data (2017 to 2021) and forecast statistics for the period of 2022 to 2032.
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Key Segments Covered in the Unilateral Biportal Endoscopy Industry Survey:
Unilateral Biportal Endoscopy by Product Outlook:
- Reusable Unilateral Biportal Endoscopy
- Single-use Unilateral Biportal Endoscopy
Unilateral Biportal Endoscopy by Application:
- Unilateral Biportal Endoscopy for Decompression
- Unilateral Biportal Endoscopy for Lumbar Central Canal Stenosis
- Unilateral Biportal Endoscopy for Degenerative Lumbar Canal Stenosis
- Unilateral Biportal Endoscopy for Lumbar Spinal Stenosis
- Unilateral Biportal Endoscopy for Deherniation
- Unilateral Biportal Endoscopy for Spinal Stabilization
- Others
Unilateral Biportal Endoscopy by End-user:
- Unilateral Biportal Endoscopy in Hospitals
- Unilateral Biportal Endoscopy in Ambulatory Surgery Centers/Clinics
- Other end-users
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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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