The Sweden endoscopy devices market size is anticipated to expand at a significant CAGR during the forecast period, 2021-2028. The growth of the market is attributed to technological advancements in endoscopes that can be used for early detection of diseases and rise in prevalence rate of chronic diseases.
Endoscopy is a minimally invasive medical procedure that diagnose, prevents, and treats complications associated with internal organs of the body. These devices are placed in the body through anus and mouth or through incisions, especially in case of arthroscopy. Endoscopy devices provide several other parts such as camera, which helps endoscopists to examine internal organs of interest.
The endoscopy devices market was negatively impacted by the COVID-19 pandemic due to decrease in patient volume in hospitals due to rescheduling and delaying of procedures for safety reasons.
Market Trends, Drivers, Restraints and Opportunities
- Rising demand for endoscopic devices in therapeutic and diagnostic procedures is projected to drive the market growth during the forecast period.
- Increasing prevalence of diseases related to age is expected to boost the market growth in the coming years.
- Growing geriatric population is expected to spur the market growth during the forecast period.
- Rising demand for minimally invasive endoscopic interventions is anticipated to drive the market growth during the forecast period.
- Increasing demand for biopsies for cancer detection and diagnosis is projected to drive the market growth during the forecast period.
- Lack of trained physicians & endoscopists and infections caused by endoscopes are estimated to restrict the market growth in the coming years.
- Unmet medical demands in developing countries are expected to provide can create lucrative opportunities during the forecast period.
- Booming healthcare sector in emerging economies is projected to lucrative create opportunities during the forecast period.
Scope of the Report
The report on the Sweden endoscopy devices market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Endoscopy Devices Market - Sweden Industry Analysis, Growth, Share, Size, Trends, and Forecast
Type of Devices (Endoscopes, Endoscopic Operative Device, and Visualization Equipment), Applications (Gastroenterology, Pulmonology, Orthopedic Surgery, Cardiology, ENT Surgery, Gynecology, Neurology, and Others)
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Boston Scientific Corporation; Johnson and Johnson; Medtronic PLC; KARL STORZ; and PENTAX Medical
Sweden Endoscopy Devices Market Segment Insights
Visualization equipment segment to hold a significant market share
Based on type of devices, the market is divided into endoscopes, endoscopic operative device, and visualization equipment. The endoscopes segment is anticipated to hold a key share of the market in the coming years due to increase in chronic diseases and surge in adoption of technologically advanced medical devices. However, the visualization equipment segment is anticipated to expand at a rapid pace during the forecast period owing to increasing preference for HD visualization systems by medical professionals.
Neurology segment is expected to grow at a rapid pace
On the basis of applications, the market is segregated into gastroenterology, pulmonology, orthopedic surgery, cardiology, ENT surgery, gynecology, neurology, and others. The gastroenterology segment is anticipated to hold a key share of the market in the coming years due to the rising incidence of colorectal cancer (CRC) in younger adults, which leads to growing awareness of the target population of CRC screening. On the other hand, the neurology segment is anticipated to expand at a rapid pace during the forecast period owing to remove the tumor without cutting or harming other parts of the skull. For instance, in 2020, Pentax Medical announced to launch their J10 series of ultrasound video gastroscopes for better image quality and ergonomic design.
The Sweden endoscopy devices market has been segmented on the basis of
Type of Devices
- Endoscopic Operative Device
- Visualization Equipment
- Orthopedic Surgery
- ENT Surgery
- Boston Scientific Corporation
- Johnson and Johnson
- Medtronic PLC
- KARL STORZ
- PENTAX Medical
Key players competing in the Sweden endoscopy devices market includes Boston Scientific Corporation; Johnson and Johnson; Medtronic PLC; KARL STORZ; and PENTAX Medical.
Some of these players are engaging in business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market share.
In June 2021, Johnson and Johnson launched new energy product ENSEAL X1 Curved Jaw Tissue Sealer, an increases jurisdictional efficiency and provides stronger sealing and better access to more tissues.