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Olympus Corporation and KARL STORZ GmbH & Co. KG Seek Competitive Advantage in The Global Medical Videoscope Market
In the past few years, the medical videoscopes market has witnessed significant technological advancements, such as the introduction of new endoscopy and camera systems. This has aided in the diagnosis and treatment of diseases, and also helped increase the efficiency of endoscopy procedures and enabled better patient care.
The video endoscope is a major technological advancement in the field of endoscopy that has captured a major share of the market. This is attributed to the high imaging quality offered by videoscopes over fiber endoscopes. This has led small and big players to launch their own videoscopes. These players include Olympus Corporation (Japan), KARL STORZ GmbH & Co. KG (Germany), Stryker Corporation (U.S.), Pentax Medical (Hoya Corporation (Japan)), and Fujifilm Holding Corporation (Japan).
Olympus Corporation provides cost-saving options on its endoscopy products for customers. The company has a strong presence in emerging markets in Asia, which is also the fastest-growing market for endoscopy equipment. With a strong focus on innovation, the company launched the GIF-H290Z Gastrointestinal Videoscope, which has a magnification of up to X85 for the observation and treatment of the esophagus and stomach. The firm largely focuses on building its market in fast-growing nations, primarily China. In April 2015, Olympus announced its plans to expand its medical devices sales force and double its maintenance capacity in China to roughly 20,000 scopes a year by 2019. The company seeks mergers and acquisitions to expand its operations into fields that are peripheral to surgery. In line with this strategy, in April 2013, a medical company was established as a joint venture by Olympus and Sony Corporation to undertake business related to surgical endoscopes with 3D and 4K imaging capabilities.
KARL STORZ GmbH, a leader in rigid endoscopes, has 65 years’ experience in the endoscopy industry. The company focuses on strengthening its sales activities and distribution network by working within an efficient network of dealers. In addition, the firm has a large sales force comprising highly trained professionals managing individual accounts across the country. Moreover, its customer service and technical support are available 24 hours a day to all customers. Additionally, the firm exhibits its products at more than 700 medical conventions and seminars annually. The firm also undertakes strategic acquisitions, and expansion in terms of new technologies, products, and geographical reach.
Other key growth strategies adopted include new product launches, acquisitions, expansions, agreements, partnerships, collaborations, and joint ventures. For instance, XION GmbH (Germany) launched as many as eight new endoscopy products during 2014 and 2013. With regard to acquisition, in August 2012, CONMED Corporation announced the acquisition of Viking Systems, Inc. The 3D HD surgical video products of Viking expanded the firm’s surgical imaging business.
Medical Videoscope Market by Scope (Rigid (Laparoscope, Ureteroscope), Flexible (Colonoscope, Gastroscope), Visualization Systems (Monitors, HD Camera, 3D Camera, Light Source), by Application (Colonoscopy, Laparoscopy, Arthroscopy) - Global Forecasts to 2019
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