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    Endoscopy Fluid Management Market Size Projected to Grow at a CAGR of 8.2% During the Forecast Period 2021-2026
    (I-BusinessNews.Com, July 14, 2021 ) Endoscopy Fluid Management Market size was estimated at $989.6 Million in 2020, projected to grow at a CAGR of 8.2% during the forecast period 2021-2026. Endoscopy Fluid Management industry has witnessed huge demand over the last decade owing to its minimal invasive procedures. Endoscopy is medical procedure used to see inside the body. It is used to take tissue samples or gastrointestinal (GI) track fluid samples. A flexible tube with a strong light and a small camera attached to it is used with a procedure known as an endoscope. It is a most widely used medical imaging technique. Endoscopic procedures helps to examine inside of the hollow organ or a body cavity. There are different fluids inside the body that hinders the vision during this procedure. The management of fluids within the body during the endoscopy is referred as endoscopy fluid management. Endoscopy fluid management systems improves the visibility of the endoscopic procedure by providing precise fluid pressure in the internal cavities during the time of endoscopic procedures. Around 10 million gastrointestinal endoscopic techniques and medical imaging techniques are performed every year in the United States for various reasons.



    Endoscopy Fluid Management Market Segment Analysis - By Product Type:



    Based on Product, Endoscopy Fluid Management Market is segmented in to Laparoscopy Fluid Management Systems, Laparoscopy Suction Irrigation Pumps, Hysteroscopy Fluid Management Systems, and Hysteroscopy Pumps. Laparoscopy suction irrigation pumps segment accounted for largest revenue market share in 2020 owing to its compactness and easy to use system to perform gastrointestinal disorders in gastrointestinal tract. Hysteroscopy fluid management systems are predicted to grow with the fastest CAGR of 8.8% in the forecast period 2021-2026 owing to its benefits like shorter recovery time, shorter hospital stay and avoidance of open abdominal surgery during the hysteroscopy.



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    Endoscopy Fluid Management Market Segment Analysis - By End User:



    Based on End User, Endoscopy Fluid Management Market is segmented into Hospitals & Clinics, Ambulatory Surgical Centers and others. Hospitals segment accounted for the largest revenue market share in 2020 owing to the huge number of patientís footfall in addition with high number of surgeries and endoscopic procedures that take place in such places. Further, rising investments to develop latest infrastructure coupled with the presence of skilled professionals and easy accessibility is projected to buoy the industry growth. Ambulatory surgical centres are predicted to grow with the fastest CAGR of 8.9% in the forecast period 2021-2026 owing to the growing preference towards this healthcare setting particularly in developed countries, along with the infrastructure improvements to offer best class health facilities to the patients. Also, increased use of ASCs for medical imaging techniques is anticipated to further propel market growth.



    Endoscopy Fluid Management Market Segment Analysis - By Geography:



    Based on Geography, North America Endoscopy Fluid Management Market accounted for the 46% revenue share in 2020. This is majorly attributed to presence of global players along with highly developed healthcare infrastructure with latest medical imaging techniques. Presence of high number of skilled medical professionals in addition with high rate of adoption for advance technology and growing geriatric population in this region are contributing to the highest market share. The U.S. government predicts that elderly population is around 55 million. Around 75 million endoscopic procedures are performed in U.S every year. and 51.2 million or simply 68% are reported to be gastrointestinal endoscopic procedure performed in gastrointestinal tract. Moreover, the high healthcare expenditure coupled with a good reimbursement policies also aid to the market growth. Asia-Pacific market is poised to grow with the fastest CAGR in the forecast period 2021-2026 owing its rising geriatric population coupled with rising prevalence of chronic diseases.



    Endoscopy Fluid Management Market Segment Analysis Drivers



    Increasing Geriatric Population:



    Rising geriatric population is the factor boosting the endoscopy fluid management market growth. Geriatric population is exponentially rising globally, that has contributed to increase in chronic diseases. In the United States most of the deaths are caused by chronic diseases. According to WHO, the global burden of chronic diseases like gastrointestinal tract disorders, cardiac diseases and other is 57% in 2020. More than 13% of old age population are diagnosed with heart diseases in the United States. People in this region are health conscious that has contributed to increase in healthcare expenditure in this region. The most affected regions are the emerging economies where the population growth is poised to be most significant in developing countries. Owing to this there is a huge demand for diagnostic services including diagnostic imaging services.



    Growing Preference for Minimal Invasive Surgeries:



    The increasing demand for endoscopy fluid management system in various fields like urology, gastroenterology, gynaecology, dentistry, laryngoscopy, neurology, arthroscopy, cardiology, bronchoscopy, medical imaging techniques and others is boosting the markets growth. Rising preference for minimal invasive surgeries like endoscopic procedures are one of the biggest drivers driving the endoscopy fluid management market. There is a huge increase in the number of minimal invasive surgeries as most of the healthcare professional are recommending such surgeries to treat various chronic diseases. Endoscopy is a basic procedure for all such surgeries. Moreover, people are becoming more aware to the benefits of minimal invasive surgeries is boosting the market growth.



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    Endoscopy Fluid Management Market Segment Analysis Challenges



    High Cost of Minimally Invasive Surgeries:



    The cost of endosurgical procedure is higher than that of open surgeries owing to the extensive usage of specialized equipment and high surgical time. The investments costs of an endoscopic equipment and endoscopic procedures are high for many hospitals in the developing nations. An average price of an HD colonoscopy system ranges from $100,000 to $120,000. It is a high investment for healthcare professionals in the developing countries that have lower financial resources to invest in such equipment. Owing to the high capital investment, training and maintenance costs, endoscopy procedures are highly expensive. Moreover, in Asian countries there is very limited reimbursement for endoscopy procedure. This makes physicians and patients to opt for an alternative procedure with lower price, thus hindering the market for endoscopy fluid management systems.



    Endoscopy Fluid Management Market Segment Landscape:



    Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Endoscopy Fluid Management Market. Endoscopy Fluid Management Market top 10 companies are Smith & Nephew, Hologic Inc., Olympus Corporation, Kaarl Storz GmbH & Co KG, Richard Wolf GmbH, Cantel Medical Corporation, Stryker Corporation, B.Braun Nedical Inc., DePuy synthes, Medtronic Plc.



    Acquisitions/Product Launches:



    In September 2019, Stryker Corporation has announced that it has agreed to take over Moibius Imaging LLc, a promising player in imaging technology.



    In July 2019, Karl Storx, announced that the company has planned for an investment program and is planning to invest 30 million euros in the expansion of its production facilities.



    Key Takeaways



    Geographically, North America Endoscopy Fluid Management Market held the largest revenue share of 46% in 2020 owing to the highest disposable income and growing geriatric population in this region.



    In addition, growing healthcare expenditure, changing healthcare infrastructure, technological advancements in healthcare system are the factors that are boosting the market growth.



    Increasing spend on R&D activities by the key players in different region of the world are driving the market.



    Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market is provided in the Endoscopy Fluid Management Market.



    Related Reports :



    A. Endoscopy Devices Market

    https://www.industryarc.com/Research/Endoscopy-Devices-Market-Research-502022



    B. Endoscopy Equipment Market

    https://www.industryarc.com/Report/16832/endoscopy-equipment-market.html



    For more Lifesciences and Healthcare Market reports, please click here



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    IndustryARC

    Venkat Reddy

    (+1) 970-236-3677

    venkat@industryarc.com

    Source: EmailWire.Com

    Source: EmailWire.com

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