Rigid Endoscopes Market: Rise in adoption of endoscopy for diagnosis and treatment of chronic diseases driving the market
Global Rigid Endoscopes Market: Introduction
Endoscopy is a minimally invasive (MI) procedure that is used for diagnosis, prevention, and treatment of complications in the internal organs of the human body. It is used in case of chronic diseases also. During the procedure, an endoscope is inserted into the patient's body either through natural cavities or by making a small incision. These endoscopes work very well in conjunction with a camera system. With the help of the camera system, surgeons can view a highly magnified image of the affected area. Benefits of endoscopy include low cost, speedy recovery, and less diagnosis time. Rigid endoscopes are available in various sizes.
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Rigid endoscopes are small tubular telescopes that allow physicians to look inside joints and body cavities that otherwise could only be examined through a more invasive procedure. Rigid endoscopes are used in procedures such as endoscopic examination and biopsies of organs such as the urinary bladder, the nose, and the ears; exploration and biopsy of the abdomen (for organs such as the liver, the prostate gland, the pancreas, the lymph nodes, the kidneys, and the small intestine); surgery or exploration of the joints (arthroscopy); examination of the thorax and the chest; and biopsy for the diagnosis on cancer.
Global Rigid Endoscopes Market: Competition Landscape
The global rigid endoscopes market is highly fragmented, owing to presence of major players in the market. Key players operating in the global rigid endoscopes market are KARL STORZ SE & Co. KG, OLYMPUS CORPORATION, Braun Melsungen AG, Stryker Corporation, Richard Wolf GmbH, Boston Scientific Corporation, Arthrex, Inc., CONMED Corporation, LABORIE, and Ecleris.
Development of new and innovative products, strategic alliances, partnerships, and mergers & acquisitions are some of the key strategies adopted by major players operating in the market. For instance, in May 2018, KARL STORZ Endoscopy-America, Inc. launched the PDD blue-light flexible-video cystoscopy system for use in enhanced detection of non-muscle invasive bladder cancer (NMIBC).
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KARL STORZ SE & Co. KG
Founded in 1945, KARL STORZ SE & Co. KG is headquartered in Tuttlingen, Germany. The company is a leading player in the field of endoscopy devices and systems. It markets rigid endoscopes primarily for use in general surgery, urology, gynecology, and pediatric surgery. With more than 50 subsidiaries, the company operates at the global level.
Established in 1919, NeilMed Pharmaceuticals, Inc. is headquartered in Tokyo, Japan. In 1979, the company acquired Winter & Ibe GmbH, a Germany-based rigid endoscope manufacturer, and expanded its business in the field of surgical endoscopes. The company offers several rigid endoscope products, primarily for use in urological and ENT surgeries. In 2016, the company increased its production capacity for medical endoscopes at different sites such as Aizu, Shirakawa, and Aomori, Japan.
B.Braun Melsungen AG
Founded in 1839, B.Braun Melsungen AG is headquartered at Melsungen, Germany. It is a leading player in the global pharmaceutical and medical devices industries. Under its AESCULAP business division, the company offers several endoscopic products. Recently, the company received an award for its 3D EinsteinVision 3.0 and 2D SmartVue camera heads used in endoscopic laparoscopy.
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Established in 1941, Stryker Corporation is a major global medical device company based in the U.S. The company sold its products in more than 100 countries and it has over 44 manufacturing and R&D facilities worldwide. It offers various rigid endoscopes such as cystoscopes, arthroscopes, laparoscopes, resectoscopes, and uretroscopes.
Global Rigid Endoscopes Market: Dynamics
Rise in adoption of endoscopy for diagnosis and treatment of chronic diseases driving the market
Prevalence of chronic diseases is increasing with the rise in elderly population. These diseases require proper and timely diagnosis and treatment. Proper diagnosis requires use of endoscopy. Thus, rise in the prevalence of chronic diseases leads to growth of the global rigid endoscopes market. Patients prefer less painful and minimally invasive surgeries. Thus, high demand for these procedures drives the market. According to National Institute of Diabetes & Digestive and Kidney Diseases, in 2010, the prevalence of digestive diseases was 60 million to 70 million people in the U.S.
Moreover, advancements in healthcare facilities and favorable reimbursement scenario are also responsible for growth of the global rigid endoscopes market.
New product development resulting from technological advancements to drive the rigid endoscopes market
Technological advancements in endoscopy lead to the development of various new and innovative products. This has made a positive impact on the global rigid endoscopes market. For instance, KARL STORZ SE & Co. KG offers swing-prism borescopes, which feature a swing prism at their tip. By using a control handle, the direction of view can be adjusted between 0° and 140°. Also, use of sterile disposable endoscopes made available by several companies has minimized the risk of infections.
Rising disposable income and increased healthcare expenditure in developing economies are also some of the factors fueling the global rigid endoscopes market.
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Lack of skilled endoscopists and high costs of endoscopic surgeries restraining the market
Endoscopy is a critical procedure and hence, it needs experts to ensure proper handling. In developing regions and less developed countries, personnel skilled in endoscopy is lacking. Also, the cost of endoscopy procedures is high. This is a major factor restraining the rigid endoscopes market in these countries.
North America Dominates Global Rigid Endoscopes Market
North America dominated the global rigid endoscopes market in 2018 and it is projected to continue its dominance throughout the forecast period. Growing geriatric population, rise in the prevalence of chronic disorders, such as gastric disorders, and favorable reimbursement policies in the region are major factors driving the rigid endoscopes market in North America. Also, availability of technologically advanced products and rising demand for minimally invasive procedures are driving the market in the region.
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