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The global endoscopy equipment market is expected to grow at a CAGR of 6.24% over the forecast period of 2016 to 2024.
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Vision Value Visibility Report Code :HC 1002 2016-2024 Global Flexible Endoscopes Market Outlook 2024: Global Opportunity & Growth Analysis, 2016-2024 99 Wall Street, Suite No:- 527, New York, NY 10005 United States of America +1-646-568-7747 +1-437-886-1181 Office No:- 504, 5th Floor, C-51, BSI Business Park, Sector-62, Noida, PIN:- 201301 India +44-203-318-6627 +91-120-473-0422, +91-991-071-6331 www.goldsteinresearch.com sales@goldsteinresearch.com Published By: Goldstein Research Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com
Executive Summary Sample Request Global Flexible Endoscopes Market Share(%), By Region-2016-2024 Global Flexible Endoscopes Market Size USD (Billion). 2016-2024 XX% CAGR: (2016-2024) Sample Source: Goldstein Research Source: Goldstein Research In 2016,Hospitals accounted for the highest market share XX% in Flexible Endoscopes Market WithXX%share in 2016, North America region dominated the collective Global Flexible Endoscopes market Global Flexible Endoscopes Market Share(%), By Product Type-2016 Global Flexible Endoscopes Market Share(%), By Application-2016 Global Flexible Endoscopes Market Share(%), By End User-2016 Source: Goldstein Research Source: Goldstein Research Source: Goldstein Research Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com
Sample Request Key Findings Favorable Reimbursement Policies • The global flexible endoscopes market accounted for USD XX billion in 2016 and tends to reach the valuation of USD XX billion by 2024 at a CAGR of XX% over the forecast years owing to rising popularity of minimally invasive (MI) procedures is identified as one of the key factors for market growth. MI techniques are less painful and require a shorter duration of hospital stay. This encourages healthcare providers, governments, patients, and other key stakeholders to adopt MI techniques over traditional open surgical techniques. • The preference for less invasive treatment options continues to fuel technological advancements in the U.S. gastrointestinal (GI) endoscopic devices market, allowing physicians to treat more conditions without resorting to open surgery. An expanding number of treatments, coupled with a growing population that exhibits a higher prevalence of GI disorders, is driving growth in this market despite decreasing average selling prices. Although this is a mature market, several niches have demonstrated exceptional growth over the past five years, including capsule endoscopy and Barrett's ablation devices. Moreover, some pockets of the market still remain underserved and are expected to grow rapidly in the next five years. • The laparoscopy segment contributed to the maximum shares of XX% during 2016 and is witnessing a large number of innovations. Laparoscopy is used in a wide range of applications to carry out MI surgeries. The segment will continue to grow in the forthcoming years because it is highly preferred when non-invasive methods such as ultrasound, X-ray, CT and MRI scans do not provide enough insight for the diagnosis. • The flexible endoscopes market is concentrated with the presence of large, medium, and small-sized companies. The launch of new products and technological advancements will strengthen the competitive landscape of the market. Vendors are increasingly focusing on offering advanced products and services to end-users across the world, which in turn, will help them increase their market shares. Established as well as emerging companies are taking efforts to expand their market presence by launching advanced products. Increasing Unhealthy Lifestyle Sample Technological Advancements Poor Diet Plans Asia-Pacific & Latin America Flexible Endoscopes Market (USD Billion) Asia-Pacific Latin America Rising Geriatric Population XX Billion 2016 XX Billion XX Billion 2024 XX Billion Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com
Global Flexible Endoscopes Market Size (USD Billion) & Growth Analysis Global Flexible Endoscopes Market Size (USD Billion)-2016-2024 Global Flexible Endoscopes Market Y-O-Y Growth (%) Analysis-2016-2024 Sample Source: Goldstein Research Source: Goldstein Research • Global flexible endoscopes market size tends to increase at a CAGR of XX% and reach the market value of USD XX billion by 2024. In 2016, global flexible endoscopes market valued USD XX billion owing to rapid technological advances, increasing awareness of the population, high preference of minimally invasive procedures over conventional surgeries, and emerging economies • The number of people in the world who are obese or overweight has reached XX billion, up from XX million in 2016.Furthermore, approximately XX million people in the United States have symptoms of Gastroesophageal Reflux Disorder (GERD). Primary or secondary GERD diagnosis increased from a total of XX individuals diagnosed in 2016 to XX in 2017. XX% of all people hospitalized with GERD in 2016 also had an esophageal disorder. In the United States, XX deaths in 2016 were directly related to a primary diagnosis of GERD. Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com
Market Dynamics Sample Request Growth Drivers Growth Barriers Sample General Trend Highly Complex Moderately Complex Waived Advancement Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com
Growth Drivers Sample Request • Growth in aging population • Rise in aging population in many nations across the globe is a major a growth driver for the flexible endoscopes industry. • This aging population is expected to have diabetic and other health related problems in US & Japan as XX% of the total population are obese in US while in Japan it is XX% of the total population which further increases the risk of diabetes and heart related problems. • Rising concern towards fitness & healthy lifestyle among aging population is expected to spike the healthcare industry in near future. • In U.S., XX million people are aged above 65 in 2010 i.e. XX% of the total population & this aging population is expected to reach 20% of the total population by 2030 according to the report of Centers for Disease Control & Prevention (CDS) Fig: 5-1 Population(Million), Aging population(Million), World-2016-2050 World Population 2016 2050 XX Million XX Million Aging population 2016 2050 Sample XX Million XX Million Source: World Bank • Impact Analysis:- • Government funding for the advancement in healthcare sector and initiatives to promote healthcare across the globe is expected to positively impact on the growth of cardiac implant devices market. • Increase in aging population and focusing on fitness & healthy lifestyle is predicted to rise the Flexible Endoscopes market globally • Government of UK collaborated with World Bank Group & World Health Organization for the advancement of healthcare facilities across the globe • Governmental organizations like World health Organization (WHO) starts various awareness programs across the globe to promote healthcare services. • Fujifilm, a film and camera maker that has been diversifying into medical equipment and pharmaceuticals, as well as Sony Corp and Panasonic Corp were named by a newspaper last week as potential investors in Olympus. Olympus was seeking to replenish its capital base by issuing USD XX billion in preferred shares. High Medium Low Impact on Flexible Endoscopes Market Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com
Impacting Factors of Flexible Endoscopes Market Sample Request • Drivers of Flexible Endoscopes • Aside from its simplicity, endoscopy is also low-risk. The only situation a patient cannot be examined through the use of an endoscope is when he is seen to be unfit for anesthesia. Endoscopy’s low morbidity and mortality rates also reflect the safety of the procedure, according to the American Cancer Society. • An endoscope is designed to have great sensitivity to the intestinal mucosa--the moist tissue lining the intestines (and other body cavities). Such sensitivity makes it an effective tool for projecting deep mucosal visuals--allowing the doctor to effectively evaluate the digestive system. It is also excellent at obtaining samples of this tissue for further laboratory testing. • Endoscopy can also document diseases by generating videos and photographs. A “videoendoscope” or a “fiberoptic endoscope” has these capabilities. • Since the size of the lens of an endoscope is very small in order to fit in the body’s natural openings, the sample it can generate is also limited up to 2 to 3 mm deep. • Changing regulations related with medical equipments and worldwide currency devaluation is majorly impacting the flexible endoscopes business. Sample Source: Goldstein Research Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com
Country Wise Colonoscopes Sales Target, 2020-2024 Sample Request Sample Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com
Porter’s Five Force Model Sample Request Customer can easily switch to substitute products. So substitutes are a threat to your company. When there are actual and potential substitute products available then segment is unattractive. Profits and prices are effected by substitutes so, there is need to closely monitor price trends. In substitute industries, if competition rises or technology modernizes then prices and profits decline. The Barriers to Entry are significantly high which means that it is difficult for outside companies to enter the industry. New entrant is require to offer the innovative and distinguish service or product in order to make place in the competitive space, only such a player tends to establish its market presence and obtain the necessary clearance from regulatory agencies and obtain the profit. Sample Threat of new entrants Bargaining Power of buyers Bargaining power of suppliers Threat of substitute products or services • Intensity of competition among the existing competitors in the market. Intensity of rivalry depends on the number of competitors and their capabilities. Industry rivalry is high when: • There are number of small or equal competitors and less when there’s a clear market leader. • Customers have low switching costs • Industry is growing • Exit barriers are high and rivals stay and compete • Fixed cost are high resulting huge production and reduction in prices The power of Buyers is significantly low to moderate and they are able to negotiate for better pricing. However on the supplier side, the power of Suppliers is also high as there are multiple supplier for a particular test and these causes, for companies to compete on price when they do not have any point of differentiation. Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com
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