The size of the North America Endoscopy Devices Market is forecasted to be growing 6.95% from 2022 to 2027. The market size is predicted to grow USD 21.16 billion by 2027 from USD 15.12 billion in 2022.
Increasing demand for endoscopy, rise in disorders related to the gastrointestinal tract, and the growing awareness about endoscopy devices are primarily driving the endoscopy market growth in North America. Also, the technological advancement in endoscopy ensures better results with accurate information, which is expected to uplift the market growth.
The Increasing preference for neuro endoscopy is expected to open doors for the manufacturers to introduce advanced endoscopy devices, most likely to increase the market revenue. On the other hand, the senior population primarily contributes to the endoscopy market growth, as the senior population is exposed to various chronic diseases. Furthermore, in the recent past, the preference for minimally invasive endoscopic procedures has rapidly increased due to benefits such as lower postoperative complications and a faster recovery rate.
Increasing investments and funding by the government and private organizations to develop healthcare infrastructure in the region ensures new market entrants. However, many hospitals in the developed countries such as the U.S and Canada are increasing market revenue. According to the American Board of surgery, endoscopy is one of the top five procedures performed across the North American region.
However, the unfavorable reimbursement policies in the United States are limiting the market growth. In addition, the high cost of endoscopy procedures and equipment are further restraining the market growth.
This research report on the North American endoscopy devices market has been segmented and sub-segmented into the following categories:
Geographically, the North American endoscopy devices market is estimated to hold the most significant share in the global market during the forecast period due to favorable reimbursement policies presented in the U.S., growing incidences of cancer in the U.S. and Canada, the study on new technologies in the U.S., and new funding model for Canadian hospitals.
The United States is a key national segment of the endoscopy devices market in North America. The U.S. endoscopy devices market is estimated to account for a significant share in the North American market during the forecast period. However, the market is projected to witness a prominent share in the coming years. Increasing the burden of cancer, government initiative through medical tourism, and advanced healthcare infrastructure contribute to market growth.
On the other hand, the Canadian Endoscopy devices market is projected to register a promising share during the forecast period. Growing awareness about endoscopy devices, encouraging market players in the endoscopy equipment market, and increasing investments by the government and private organizations are encouraging market growth.
KEY MARKET PLAYERS:
Companies playing a promising role in the North American endoscopy devices market profiled in this report are Ethicon, Stryker Corporation, Karl Storz GmbH, Boston Scientific Inc., Olympus Corporation, Covidien Plc, Smith and Nephew Inc., and Fujifilm Holding Corporation.
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