According to an Azoth Analytics research report, the global endoscopy devices market is slated to surge at a compound annual growth rate of 6.4% from 2018 to 2023. Researchers say the rising incidence of chronic ailments, the increasing health awareness among consumers, the flourishing market for minimally invasive procedures, new device approvals, and rising health expenditures in developing countries are propelling market growth.
An ongoing demographic shift toward a geriatric population suffering from inveterate ailments is also expected to propel demand for endoscopy devices. Azoth Analytics researchers say.
In the research report, the market is segmented on the basis of type, application, and end user. By type, the flexible endoscope segment is predicted to hold its dominant market position during the forecast period. Further, North America accounted for the largest regional share in the global endoscopy devices market in 2018; however, Asia-Pacific is predicted to advance at the highest rate. The presence of a vast consumer base, particularly in emerging nations such as China and India, in addition to growing per capita expenditure on healthcare, is likely to drive the Asian-Pacific endoscopy devices market.