Research Nester released a report titled “Pediatric Endoscopy Devices and Equipment Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the pediatric endoscopy devices and equipment market in terms of market segmentation by type, application and region.
The pediatric endoscopy devices and equipment market is projected to grow with a moderate CAGR during the forecast period, i.e., 2021-2029 on account of the rise in demand for pediatric endoscopy and the increase in investment in endoscopy facilities. As per North American Society of Gastroenterology, Hepatology and Nutrition, pediatric endoscopy has been recognized as a safe and effective procedure for diagnosis and management of many pediatric diseases.
The market is segmented by type into devices (flexible, rigid, capsule) and equipment (biopsy forceps, polypectomy devices, endoscopic retrieval devices, homeostatic devices and others). Among these segments, the devices segment is anticipated to hold the largest share by the end of 2021 in the pediatric endoscopy devices and equipment market as a result of the greater use of flexible endoscopes among medical professionals. Moreover, flexible endoscopes are also regarded as extremely efficient and safe to use.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the pediatric endoscopy devices and equipment market in the Asia Pacific is projected to grow at the highest CAGR throughout the forecast period. Currently, the market in North America holds the largest share. This can be attributed to the increasing preference for minimally invasive surgeries and strong health infrastructure in the region.
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Rising Demand for Pediatric Endoscopy and Increasing Investment in endoscopy facilities to Drive Market Growth
According to the report, “Global Burden of Diseases, Injuries and Risk Factors Study (GBD)”, the number of individuals with inflammatory bowel disease increased from 3.7 million in 1990 to more than 6.8 million in 2017 which is an increase of 85.1% at global level.
Pediatric endoscopy can be used efficiently to diagnose inflammatory bowel disease among children. Additionally, the rising preference for minimally invasive surgeries in recent years is also expected to boost the market growth in upcoming years. However, the expensive cost of endoscopic procedures and limited reimbursements policies in low income economies are some of the factors that are estimated to restrain market growth in the near future.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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This report also provides the existing competitive scenario of some of the key players of the pediatric endoscopy devices and equipment market which includes company profiling of Olympus (TYO), KARL STORZ, Stryker (NYSE: SYK), Boston Scientific (NYSE: BSX), Ethicon, Medtronic (NYSE: MDT), Richard Wolf GmbH, Cook Medical and Cogentix Medical. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the pediatric endoscopy devices and equipment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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