New York, United States, June 30, 2022 (GLOBE NEWSWIRE) — As of 2020, the market value was USD 28.3 billion, and with a Compound Annual Growth Rate of 7.1%, the market is likely to be valued at USD 56.2 billion in 2030. The factors that are ensuring the constant market growth are the surge in demand for endoscopic devices, the cases of functional gastrointestinal disorders increasing at a rapid pace, and a constant increase in the ageing population of most developed countries.
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Pivotal Insights into the Endoscopy Devices Market:
- By Region, North America held the highest share at 42.3% of the total value.
- By Product, the endoscopy visualization systems held the highest market share at 36.5%.
- By application, the gastrointestinal endoscopy segment dominated the segment with 53.2% of the total revenue.
- By End-users, the hospital sector accounted for 48.1% of the total sales revenue.
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Pertinent factors that are driving the market growth:
- A surge in demand for devices
There has been increasing use of endoscopic devices due to the overall increase in the number of endoscopic procedures performed. The devices enable surgeons better visual access to the surgical site. As per a study conducted…
