Spain Endoscopy Devices Market Outlook 2031
The Spain endoscopy devices market size was USD 46.66 Billion in 2022 and is expected to reach USD 98.86 Billion by 2031 expand at significant CAGR 8.7% during forecast period 2023–2031. Growth of the market is attributed to increasing adoption of endoscopes for diagnosis and treatment, rising prevalence of cardiac disease, unhealthy lifestyles, rise in elderly population, and increasing number of treatments.
The endoscopy procedures are clinical methods that use instruments provided to inspect the inner part of a patient’s digestive tube, over cooperation with development of new product and clinics. Steris endoscopy is to give a major database of infection prevention, products, and medical devices for gastrointestinal endoscopy procedures.
The endoscopy products contain hemostatic clips, endoscopic tools for retrieval, superior polypectomy snares, and tissue acquisition endoscopy devices.
The covid-19 outbreak affected the Spain endoscopy devices corporations. The Spain endoscopy devices market players faced several problems varying from getting component required for manufacturing devices and providing end products to attract workers from quarantines. The coronavirus-driven quarantine put a brake on the element and device production, which increased product costs and reduced the market demand.
Spain Endoscopy Devices Market Trends, Drivers, Restraints, and Opportunities
- Increasing patient pool is projected to boost the market in the coming years.
- Rising geriatric population is a major factor fueling the market.
- Infection caused by few endoscopic treatments is anticipated to hamper the market growth.
- Lack of skilled technicians to operate endoscopic devices is projected to hamper the market growth in the coming years.
- R&D investment and technological advancement in endoscopy devices is projected to create lucrative opportunities for the market players.
Scope of the Spain Endoscopy Devices Market Report
The report on the Spain endoscopy devices market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Endoscopy Devices Market - Spain Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016-2021
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Forecast Period
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2023-2031
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Segmentation
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Types of Devices [Visualization Equipment, Endoscopes, Endoscopic Operative Devices, and Others], Applications [Cardiology, Neurology, Pulmonology, Gynecology, Orthopedic Surgery, Laparoscopy, Gastroenterology, ENT Surgery, and Others]
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Geographical Scope
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Spain
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players covered in the Report
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Cook Group Incorporated, Johnson and Johnson, Boston Scientific Corporation, Olympus Corporation, Medtronic PLC, Karl Storz GmbH, Olympus Corporation, and Smith and Nephew Inc.
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Spain Endoscopy Devices Market Segment Insights
The visualization equipment segment accounts for a key share of the market
Based on types of devices, the Spain endoscopy devices market is divided into visualization equipment, endoscopes, endoscopic operative devices, and others. The visualization equipment segment is estimated to expand at a high CAGR during the forecast period. Growth of the market is attributed to the increasing adoption of endoscopes for diagnosis and treatment, rising prevalence of cardiac disease, unhealthy lifestyles, rising elderly population, and increasing number of treatments.
However, the endoscope segment is anticipated to expand at a rapid pace during the forecast period due to increasing patient pool, rising geriatric population, rising demand for endoscopic devices, and increasing preference for minor invasive surgeries.
The gynecology segment is anticipated to hold major market during the forecast period
Based on applications, the Spain endoscopy devices market is fragmented into cardiology, neurology, pulmonology, gynecology, orthopedic surgery, laparoscopy, gastroenterology, ENT surgery, and others. The gynecology segment is anticipated to hold a major market share during the forecast period. Growth of the market is attributed to rising population, increasing disposable income, growing patient pool, and rising geriatric population.
However, the laparoscopy segment is anticipated to expand at a rapid pace during the forecast period due to factors such as increasing adoption of endoscopes for diagnosis and treatment, rising prevalence of cardiac disease, unhealthy lifestyles, and rising elderly population.
Geographical outlook
The Spain endoscopy devices market is anticipated to expand at significant CAGR in the coming years, owing to rising population and rising disposable income. In addition, factors such as less recovery time & minimal postoperative complications, compensation policies pertaining to endoscopy devices in developed economies, favorable FDA approvals, and surge in patient preference for minor invasive surgeries are driving the market. Unsatisfied medical demands in developing sectors are anticipated to give lucrative opportunities for market expansion.
Segments
The Spain endoscopy devices market has been segmented on the basis of
Types of Devices
- Visualization Equipment
- Endoscopes
- Endoscopic Operative Devices
- Others
Applications
- Cardiology
- Neurology
- Pulmonology
- Gynecology
- Orthopedic Surgery
- Laparoscopy
- Gastroenterology
- ENT Surgery
- Others
Geography
Key Players
- Cook Group Incorporated
- Johnson and Johnson
- Boston Scientific Corporation
- Olympus Corporation
- Medtronic PLC
- Karl Storz GmbH
- Olympus Corporation
- Smith and Nephew Inc.
Competitive Landscape
Key players competing in the Spain endoscopy devices market include Cook Group Incorporated, Johnson and Johnson, Boston Scientific Corporation, Olympus Corporation, Medtronic PLC, Karl Storz GmbH, Olympus Corporation, and Smith and Nephew Inc.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and raise their production line of the business in the coming years.