Olympus Corporation (Japan) and Stryker Corporation (US) are leading players in Endoscopy Equipment Market
The global endoscopy equipment market is projected to reach USD 39.3 billion by 2026 from USD 27.3 billion in 2021, at a CAGR of 7.5%. Endoscopy procedures are non-surgical or minimally invasive procedures wherein endoscopy instruments and supplies are used to examine a patient’s internal organ or tissue in detail. While conducting endoscopy, many tools and equipment, including procedure-specific scopes, video monitors, imaging devices, anesthetic equipment, monitoring equipment, light sources, video processors, insufflators, endoscope cabinets, endoscopy cart or trolley, are used to ensure a safe, successful procedure. Endoscopy equipment are primarily used by gastroenterologist, gynecologist, nephrologist, neurologist, cardiologist, hepatologist and liver transplant surgeon.
The global endoscopy equipment market are Olympus Corporation (Japan), KARL STORZ SE & Co. KG (Germany), Stryker Corporation (US), Boston Scientific Corporation (US), JOHNSON & JOHNSON (US), Fujifilm Holdings Corporation (Japan), Medtronic Inc. (Ireland), Hoya Corporation (Japan), Nipro Corporation (Japan), Smith & Nephew Plc (UK), Richard Wolf GmbH (Germany), ConMed Corporation (US), Intuitive Surgical, Inc. (US), Cook Medical (US), Ambu A/S (Denmark), CapsoVision, Inc. (US), Fortimedix Surgical B.V. (Netherlands), B. Braun Melsungen AG (Germany), Medi-Globe (Germany), The Cooper Companies, Inc. (US), Dantschke Medizintechnik (Germany), Laborie Medical Technologies Inc. (Canada), Teleflex Incorporated (US), Cantel Medical Corp. (US), Carl Zeiss AG (Germany), and Arthrex, Inc. (US). These companies adopted strategies such as acquisitions, partnerships, expansions, and product launches to enhance their presence in the endoscopy equipment market.
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Olympus Corporation is a leading player in the endoscope equipment market. The company’s broad and holistic service portfolio related to endoscope equipment is its key strength. The company offers a wide range of endoscopes, such as gastrointestinal endoscopes, surgical endoscopes, endoscopic systems, and repair services. The Endoscopic Solutions business of the company showed an increase in year-over-year net sales of 6% from 2019 to 2020. The company invests a significant amount of its revenue in research and development to launch technologically advanced products in the market. Various countries are witnessing raising awareness about healthcare programs to reduce medical expenses or healthcare spending. Hence, endoscopes and endotherapy devices offered by the company ensure early diagnosis and minimally invasive treatment, thereby improving patients’ quality of life (QOL).
Stryker Corporation offers a broad product portfolio in the endoscopy equipment market. Its focus on providing consumers with advanced products makes the company a key player in this market. The firm offers all categories of endoscopy products, such as endoscopes, visualization systems, and accessories. Stryker has looked toward R&D; investments increased from USD 862.0 million in 2018 to USD 984.0 million in 2020 (by 14.2%). The company is also strategically focusing on acquisitions to strengthen its product portfolio. In November 2020, the company acquired a large company, i.e., Wright Medical, a medical device company focused on extremities and biologics.
Related Reports:
Endoscopy Equipment Market by Product (Endoscope (Flexible, Rigid, Capsule, Robot-assisted, Disposable), Visualization Systems, Accessories), Application (GI Endoscopy, Laparoscopy, Bronchoscopy, Arthroscopy), End User - Global Forecast to 2026
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