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3. Government Investments and Foray of Prominent Players in Asia (China, India, and Japan) are the New Revenue Pockets for the Endoscopy Devices Market

The global medical device industry has experienced substantial growth in the past decade, fueled by changes in patient demographics. A pivotal factor in this growth has been endoscopy, which has witnessed exponential growth in recent years owing primarily to increased patient acceptance of minimally invasive procedures for treatment as well as diagnosis. Endoscopy devices are most commonly used in the screening and diagnosis of diseases like cancer and GERD. Over the next five years, the growth in the endoscopy devices market is likely to be centered at China, Japan, India, Australia, and New Zealand. Furthermore, the endoscopy market in Brazil and UAE is also expected to grow during the forecast period due to ongoing government initiatives, the increasing number of endoscopy workshops, and increasing reimbursement coverage for endoscopy procedures.

In the Asian region, specifically in China, there are various factors that are responsible for creating a significant demand for endoscopes. These include the ever-increasing population, economic development, and the healthcare legislation reforms in China. The Chinese government invested ¥12 trillion (~$1.89 trillion) between 2009 and 2011 for medical infrastructure development. In addition, owing to the high incidence rate of cancer, the government has allotted funds for screening of cancer, and conducts a cancer screening program that carries out colonoscopic and endoscopic procedures in China. These investments have therefore increased the demand for endoscopy instruments in China. For instance, The People‘s Republic of China Market for Medical Devices states that the import value of endoscopes in 2010 was $XX million, witnessing an increase of XX% over that of 2009. These factors are expected to propel the market for endoscopy devices, which are extensively used in the screening activities.

Similarly, India is also witnessing an increase in demand for endoscopic surgeries owing to the rising number of physicians and patients opting for endoscopic surgeries. The Asian Institute of Gastroenterology in Hyderabad is one of the largest referral centers in Asia for therapeutic endoscopy. In addition to routine gastrointestinal procedures like endoscopy, colonoscopy, and endoscopic retrograde cholangiopancreatography (ERCP) (diagnostic and therapeutic), the institute is one of the few centers in India that performs endoscopic ultra sonography procedures, endoscopic sewing, capsule endoscopy, and ESWL (extra corporeal shock wave lithotripsy). The institute performs the largest number of ERCP procedures in the world. Besides India, patients from countries like Sri Lanka, Bangladesh, Malaysia, and Nepal, among others are also treated here. In addition, Olympus is expected to establish various endoscopy training centers at several hospitals in India. The high number of endoscopic procedures being performed in India is likely to increase the demand for endoscopy instruments and is thus expected to drive the market for endoscopes in this region.

In Japan, the Japanese Foundation for Research and Promotion of Endoscopy (JFE) is involved in supporting and funding endoscopy research. Until 2011, the foundation supported 960 cases through research grants. Since its establishment in 1982, the foundation has granted support worth 1.35 billion Yen in ~3,900 research projects. As a result, Japan is witnessing a large number of innovations in the field of endoscopy, which is likely to increase the demand for endoscopy in this region in the forecast period. In addition, Australia and New Zealand are also witnessing an increasing number of funding programs. For instance, the National Bowel Cancer Screening Program of the Australian Government is focusing on improving the quality of colonoscopy in Australia in order to meet the increasing demand for colonoscopies. Likewise, in New Zealand, the ministry rolled out the National Endoscopy Quality Improvement Program (NEQIP) to build the capacity and capability needed for a bowel cancer screening program. Thus, the growing government investments and favorable reimbursement scenario in select countries is creating a demand for endoscopy devices.

Related Reports:

Endoscopy Equipment Market by Endoscopes (Rigid, Flexible, Capsule), by Visualization Systems (HD, 3D Camera, Wireless Display & Monitor), Others (Endoscopic Ultrasound, Carts), by Application (Colonoscopy, GI Endoscopy) - Global Forecasts to 2018
https://www.marketsandmarkets.com/Market-Reports/endoscopy-devices-market-689.html

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