Endoscopy Fluid Management Market Overview
The Endoscopy Fluid Management Market size is estimated to
reach $2.3 billion by 2027. Furthermore, it is poised to grow at a CAGR of 8.7% over
the forecast period of 2022-2027. The medical procedure which allows the
medical professionals to gauge the imagery of internal organs and system
functioning is classified as endoscopy. The fluid-management prospects allow
the professionals to check for various body fluids which may or may not hinder
the vision during the procedure. Furthermore, some of the extremely critical whilst
important enzymes and digestive juices are found in digestive systems or the gastrointestinal
tracks. Thereby operations involving minimalistic surgeries are preferred,
keeping in the cover that fluid-management systems are extremely notional for positive
patient experience. Around 10 million gastrointestinal endoscopic techniques
and medical imaging techniques are performed every year in the United States
for various reasons. Furthermore, the demand has been soaring over the last
decade owing to changes in preferences for doctors and patients to skew towards
minimally invasive surgeries-as it improves patient care and reduces substantial
cost and post-operation complications. The following factors allow the Endoscopy
Fluid Management Industry to grow in a competitive environment.
Endoscopy Fluid Management Market Report Coverage
The report: “Endoscopy
Fluid Management Market Forecast
Industry ARC covers an in-depth analysis of the following segments of the Endoscopy
Fluid Management Market.
By Product- Laparoscopy Fluid Management Systems,
Laparoscopy Suction Irrigation Pumps, Hysteroscopy Fluid Management Systems,
and Hysteroscopy Pumps.
By Modality- Floor Standing and Benchtop.
By End-Use- Hospitals, Ambulatory Surgical Centers, Specialty Clinics, and Diagnostic Centers.
By Geography- North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), and Rest of the World (the Middle East, and Africa).
- Geographically, North America held a dominant market share in the year 2021. It is owing to a robust form of insurance coverage for such medical procedures. Additionally, the medical literacy along with high-purchasing power and attractive government support to create handy portable fluid-management products create a niche and an opportunistic market. Moreover, Asia-Pacific is expected to offer lucrative growth opportunities over the forecast period of 2022-2027 owing to an increasing trend in medical spending and a growing patient pool.
- The increasing demand for efficient medical instruments to perform various forms of surgeries and procedures along with the rising pervasiveness of chronic disorders requiring treatments involving endoscopic surgeries are deciphered as the key drivers for the market. However, operational challenges pertaining to mitigating complications in procedures such as endoscopic management of cerebrospinal fluid (CSF) rhinorrhoea impedes the overall market growth.
- A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in Endoscopic Fluid Management Market Report.
Endoscopy Fluid Management Market- Geography (%) for 2021.
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Endoscopy Fluid Management Market Segmentation Analysis- By Product
The endoscopy fluid management market based on the product can
be further segmented into Laparoscopy Fluid Management Systems, Laparoscopy
Suction Irrigation Pumps, Hysteroscopy Fluid Management Systems, and
Hysteroscopy Pumps. Laparoscopy Suction Irrigation Pumps held a dominant market
share in the year 2021. The following market hold is owing to its compactness
and easy-to-use system to perform gastrointestinal disorders in the gastrointestinal tract. Irritable Bowel Syndrome or IBS, a common form of the gastro-intestinal disorder has seen a rising prevalence in ages across the
demographics. As per GI Org, IBS prevalence is close to 10%-15% of the people
in the United States. Similarly, in the U.K. around 10-20% of the entire population
suffers from conditions such as IBS. Growing age has been a common
association with disease progression and severity, which in turn positively
benefits the endoscopy fluid management market. However, Hysteroscopy Fluid
Management Systems are estimated to be the fastest-growing, with a CAGR of 9.4%
over the forecast period of 2022-2027. It is owing to its benefits such as
shorter recovery time, shorter hospital stay, and avoidance of open abdominal
surgery during the hysteroscopy.
Endoscopy Fluid Management Market Segmentation Analysis- By End-Users
The endoscopy fluid management market based on end-users can
be further segmented into Hospitals,
Ambulatory Surgical Centers, Specialty Clinics, and Diagnostic Centers. Hospitals
held a dominant market share in 2021. It is owing to immense footfall in the following
location for patients. Furthermore, hospitals are backed by multinational
organizations which allow them to secure funding at a broader level, which in
turn leverages technological and latest model adoptions. Critically, the
revenue streams for hospitals are more from more than one stream, which in turn
allows patients to get a variety of diseases cured. Lastly, U.S. Medicaid and Medicare
along with Private insurance companies cover a plethora of services offered under
endoscopy fluid management, positively uplifting the market share and growth.
However, Ambulatory Surgery Centers are estimated to be the fastest-growing,
with a CAGR of 9.7% over the forecast period of 2022-2027. It is owing to robust support from government ancillaries, whose positioning strategy has been
that the following end-users have the potential to save billions of dollars in
a longer time frame. On average, Medicare saves more than $4.2 billion
annually when surgical procedures are performed at ASCs instead of
hospital outpatient departments (HOPDs). Likewise, Medicaid and other insurers
benefit from lower prices for services performed in the ASC setting. Owing to
these factors, the segment would offer strong returns.
Endoscopy Fluid Management Market Segmentation Analysis- By Geography
The endoscopy fluid management market based on Geography can be further segmented into North America, Europe, Asia-Pacific, and Rest of the World. North America held a dominant market share of 39% in 2021. It is owing to the availability of a wide array of technologies and imaging modalities. Moreover, reimbursement policies in the region positively favor market growth. Another important factor that has been influencing the growth of the global endoscopy fluid management systems market is the launch of newer products by the leading players in the market. As per various secondary studies, it can be attributed that major product manufacturers are present in North America which allows the companies to experience local demand, and with the growing slogan for “Make in America”, the market is positioned steadfastly. Additionally, between 2018 and 2020, the rate of public health insurance coverage increased by nearly 0.4 percentage points to 34.8%. In 2020, 87.0 percent of full-time, year-round workers had private insurance coverage, up from 85.1 percent in 2018. However, Asia-Pacific is expected to offer lucrative growth opportunities over the forecast period of 2022-2027. The growth of the regional market is due to the emergence of developing nations such as India and China. These countries are now opening up their economies for the development of their infrastructure including healthcare. This has presented the leading player in the global endoscopy fluid management systems to set up bases in the region and explore the previously untapped geographies for better profit generation.
Endoscopy Fluid Management Market Drivers
A growing population of elderly supplemented by illnesses and health ailments drives the market growth.
Endoscopy is a non-surgical procedure that is used to
examine a patient’s digestive tract. Moreover, body fluids can restrict images in
the digestive system can restrain the visibility of the images, and interfere with
the results obtained. Furthermore, elderly patients prefer to take the routes
for minimally invasive surgeries or pursue therapeutics courses. More and more
medical professionals are recommending such surgeries to treat chronic
diseases. The number of patients within the class of gastrointestinal cancers
is increasing globally, moreover, it is the fifth most commonly diagnosed cancer in
the world and the seventh most prevalent one, thereby curating a demand for
endoscopy fluid management systems. There were an estimated 4.8 million new
cases of gastrointestinal (GI) cancers and 3.4 million related deaths,
worldwide, in 2018. GI cancers account for 26% of the global cancer
incidence and 35% of all cancer-related deaths. As per an NCBI research
article, the highest incidence is found in the age group of 60-74 years, closely
followed by 75 years of age and older. As per the ACL Government circular, people
aged between 65+ were 16% in 2019 and will zoom to touch 21.6% in 2040 of the
total population. Hence, factors supporting current demand and future demand are
Technological advancements in endoscopic fluid management systems have positively augmented the market growth.
The market for endoscopy fluid management has been
positively impacted by various business operations amalgamations and product
launches along with key technological advancements. For example, in September
2019, Stryker Corporation announced to take over Moibius Imaging LLC, a
promising player in imaging technology, thereby increasing its
technological knowledge-which allows catering to various other forms of product
and service classes. Moreover, in 2019, Karl Storx announced that the company
has planned to invest nearly 30 million euros to expand its production
facilities. Additionally, advancement in single-port laparoscopic surgery (SLS)
utilizes a major incision and can deliver favorable outcomes with fewer
hospitalization stays and less postoperative pain. Recently, there have been
attempts to develop a new range of SLS instruments with onboard actuators, with
the aim to improve the efficiency and safety of SLS procedures. Similarly,
other advancements in technological know-how uplift the market
Endoscopy Fluid Management Market Challenges
The high cost pertaining to minimally invasive surgeries along with life-threatening complications impedes the overall market growth.
The cost for performing endo-surgical procedures is
relatively expensive than the next alternative, open surgeries. It is owing to
extensive usage of specialized equipment and intensive surgical time.
Investment costs of endoscopic equipment and procedures are extremely skewed
towards the higher quartile range for developing nations. An average cost to
conduct an HD colonoscopy system ranges from $100,000 to $120,000. Thereby,
higher investment requirements impede newer players to enter the market, or the
newer players are absorbed by giant multinationals, limiting their growth
paradigm. 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 an endoscopy procedure. This makes physicians
and patients opt for an alternative procedure at a lower price, thus
hindering the market for endoscopy fluid management systems.
Endoscopy Fluid Management Industry Outlook
Product launches, mergers and acquisitions, joint ventures,
and geographical expansions are key strategies adopted by players in the Endoscopy
Fluid Management Market.
The top 10- Endoscopy Fluid Management Market companies include:
- 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
- In September 2021, Hologic, Inc. (Nasdaq: HOLX), a global leader in women's health, launched its expanded Omni suite, a comprehensive gynecological surgical offering designed to optimize diagnostic and operative hysteroscopy, in Europe, Africa, and the Middle East (EMEA). The offering now includes a versatile Omni 30° hysteroscope, the Omni Lok cervical seal, and the Omni 5 French seal, which complement the company’s existing portfolio of GYN surgical solutions and extend physicians’ choices.
- In July 2021, Obstetrics and Gynaecology launched a service that allows the use of mobile hysteroscopy with the use of smartphones as a cost-effective diagnostic tool/ technique. Moreover, Smartphone technology can be adapted to promote cable-free, wireless, and cost-effective diagnostic mobile office hysteroscopy. Lastly, a new cable-free set up by coupling a rigid 30°, 2-mm-diameter hysteroscope to a smartphone using a commercially available adapter and using a portable and rechargeable light-emitting diode cold light source.
- In July 2021, Meditrina expanded the hysteroscopic tissue resection product portfolio with the release of the New Aveta Official Suite. The Aveta Opal HD Hysteroscope has the smallest insertion profile at 4.6mm featuring a 3.0mm working channel optimized for use with the 2.9 mm OD Aveta Auto Resecting Device, which is now part of the newly introduced Aveta office suite product portfolio. The Aveta Opal and Aveta Coral are the only commercially available hysteroscopes that have the capability to resect both fibroids and polyps without the need for a 5.5mm sheath and increased dilatation, ideal for post-menopausal patients and those with a stenotic cervix.