Minimal Invasive Methods of Endoscopy Equipment has grown Market Revenues

Endoscopy Equipment and Software Market by Product [Endoscopes (Flexible, Rigid, Capsule), Visualization Systems, Electronic, Mechanical, Software, Accessories], Application (Diagnostics, Surgery), End User (Hospitals, Ambulatory Care, Diagnostic Centre) – Forecast to 2024.

Endoscopy is an imaging technology used for examination of interior organs or vessels of the body. This technology not only used to detect the damage but also helps in surgical or the rapeutic procedures. Factors such as growing geriatric population with increasing prevalence of gastrointestinal, cancers, and other chronic diseases, rising number of hospitals, and technological advancement related to endoscopy are driving this market.

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Risen No. of Hospitals in the Developing Countries propelled the Growth of Endoscopy Equipment and Software Market

In recent years, various government initiatives towards the development of healthcare facilities have led to increase in number of hospitals. For instance, in India, in Union Budget 2017-2018, the government decided to setup 2 new AIIMS hospitals in Jharkhand and Gujarat. Further, in April 2014, the country developed AYUSH infrastructure comprised of over 8 lacs registered practitioners; 25,492 dispensaries; and 3,601 hospitals. Moreover, the Chinese government is taking initiatives to shift the burden of care from public hospitals to private hospitals and owing to this, the number of private hospitals in China doubled to a total of 16,900 hospitals in just six years, from 2011-2017. This has presented high growth opportunities for endoscopy equipment suppliers in the private sector.

Endoscope to Dominate the Global Endoscopy Equipment and Software Market

Endoscopes commanded the largest market share of global endoscopy equipment and software market due to their advantages such as easy procedure, low cost, flexible nature, real-time monitoring, and low risk compared to surgeries. Moreover, growing preference to minimally invasive procedures and use of disposable or single-use endoscopes further help to increase the adoption of these equipment.

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Asia-Pacific: Fastest Growing Regional Market

North America commanded the largest market share of the global endoscopy equipment and software market in 2017, followed by Europe, Asia-Pacific, Latin America, and Middle East & Africa. However, Asia-Pacific will be the fastest growing regional market due to accelerated economic growth of many countries in this region, and growing government focus on healthcare sector; In addition, government initiatives towards the development of healthcare facilities and increasing health insurance penetration further supports the growth of this region.

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Lucrative Growth of Ultrasound Market Due to High Prevalence of Chronic

Ultrasound Market by Product (Devices, Probes), Technology (FUS, SWL), Display (Color, B/W), Portability (Trolley, Compact, Handheld, Point of Care), Application (Diagnostic, The rapeutic, Orthopedic), End User (Hospitals, ACC)- Global Forecast to 2024.

In recent years, various government initiatives towards the development of healthcare facilities have led to increase in number of hospitals. For instance, in India, in Union Budget 2017-2018, the government decided to setup 2 new AIIMS hospitals in Jharkhand and Gujarat. Further, in April 2014, the country developed AYUSH infrastructure comprised of over 8 lacs registered practitioners, 25,492 dispensaries, and 3,601 hospitals. Similarly, the Chinese government is taking initiatives to shift the burden of care from public hospitals to private hospitals and owing to this, the number of private hospitals in China doubled to a total of 16,900 hospitals in just six years, from 2011-2017. Owing to these factors, the demand for diagnostic equipment such as ultrasound systems is rising.

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Ultrasound is an imaging modality that utilizes high-frequency sound waves to visualize organs inside the body. Apart, from imaging, the technique also guides healthcare professionals to conduct biopsies, monitor blood flow, and assess the extent of damage after a heart attack. Owing to the growing incidences of orthopedic and other internal organs related injuries; increasing geriatric population coupled with chronic illness; rising number of hospitals; technological advancements in the development of ultrasound devices; and growing government, public and private investments for the development of new ultrasound devices – this industry has witnessed a steady growth. Further, significant opportunities from emerging economies and emergence of point of care ultrasound devices have boosted the adoption of ultrasound devices. Colored ultrasound commanded the largest share of ultrasound market in 2017 due to accurate visualization, high resolution images, and ease of differentiation between the tissues based on colors. This enable the cardiac sonographers to effectively monitor the blood flow inside the heart, brain, arteries, and veins. Further, the color patterns help in identification of healthy and constrained blood flow.

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North America commanded the largest share of the global ultrasound market in 2017, followed by Europe, Asia-Pacific, Latin America, and Middle East & Africa. However, Asia-Pacific will be the fastest growing regional market due to accelerated economic growth of many countries in this region, and growing government focus on healthcare sector. In addition, government initiatives for the development of healthcare facilities and increasing health insurance penetration are the key factors propelling the growth of the Asia-Pacific ultrasound market.

Key Players in the Ultrasound Market

In the ultrasound market, the key players are diligently working towards the improvement of technology to enable confident diagnosis with appropriate workflow. In March 2018, GE healthcare (U.S.) launched advanced radiology ultrasound system LOGIQ™ E10 that integrates artificial intelligence technology to acquire and reconstruct data faster than ever before. This technology provided high resolution images, enabled the radiologists to manipulate the ultrasound’s settings with a remote control on their tablet or smart phone, and facilitated the exchange of ultrasound images among the radiologists for accurate diagnosis. Similarly, in March 2018, Koninklijke Philips N.V. in partnership with Innovative Imaging Technologies (IIT) launched integrated tele-ultrasound solution with two-way audio-visual calls.

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Infectious Disease Diagnostics Market Worth $23.4 billion by 2025

The disease global infectious diagnostics market is expected to grow at a CAGR of 5.9% from 2018 to 2025 to reach $23.4 billion by 2025.

The growth of this market will be driven by factors such as increasing global prevalence of infectious diseases, growing awareness for early detection using specific diagnostic tests, growth in funding for research on infectious disease diagnostics, and shift in focus from centralized laboratories to decentralized point-of-care testing. However, lack of unfavorable and inadequate reimbursement scenario may hamper the growth of this market to a certain extent.

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Immunodiagnostics accounted for the largest share of the infectious disease diagnostics market in 2018. This is owing to the increasing use of immunoassays in POC infectious disease testing, development of novel tests, rising trend of automation, increasing awareness about health and fitness, and reduced complications associated with the instruments. Immunodiagnostic technologies are majorly used for the detection of infectious diseases. Radioimmunoassay and Enzyme Linked Immunosorbent Assay (ELISA) were the predominant techniques used for the diagnosis. Lower complexity, high-sensitivity, and its ease of use are the major factors contributed to the growth of the immunodiagnostic technology for the diagnosis of infectious diseases. However, polymerase chain reaction (PCR) segment is expected to grow significantly during the forecast period. Increasing adoption of the molecular diagnostic technology in place of antigen testing by immunoassays, increasing chances of detecting minute amount of protein biomarkers with high specificity; and growing probability of detecting infectious diseases to mitigate the result with high accuracy is expected to drive the growth of the molecular diagnostic technology in the infectious disease diagnostics market.

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This research report analyzes major geographies and provides comprehensive analysis of North America (U.S., Canada), Europe (Germany, France, and U.K.), Asia-Pacific (China, and Japan), Latin America, and Middle East & Africa. North America commanded the largest share of the global infectious disease diagnostics market in 2017, followed by Europe and Asia Pacific. The highest share of North American region in the infectious disease diagnostics market is primarily attributed to the growing healthcare sector, increasing need to treat various infectious diseases, increasing healthcare expenditure, growing demand of point-of-care testing, increase in the research and development coupled with the development of novel advanced technologies for diagnosis, and large number of patient population.

Asia Pacific region is expected to be the fastest growing geographic market for infectious disease diagnostics market with countries, such as China, Japan, India and Singapore among others are being the largest contributors to the growth of the market. Additionally, rapid urbanization, increasing investments by healthcare providers towards infrastructure improvement, need to manage growing burden of infectious diseases, and government efforts to improve accessibility of diagnostic services are expected to equally influence the overall growth of the infectious disease diagnostics market during the forecast period.

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