The global endoscopy devices market is forecast to grow at a compound annual growth rate (CAGR) of 4% between 2011 and 2018, increasing from $4.59 billion in 2011 to $5.99 billion by 2018.
With the number of minimally invasive surgeries (MIS) procedures performed each year expected to increase, the market is set to continue its growth momentum.
The growing number of MIS procedures can be attributed to a lower incidence of post-operative complications, minimal scarring, and shorter hospital stays, which collectively act to improve surgery experiences both for hospitals and for the patient.
Furthermore, the global endoscopy devices market is growing rapidly due to the increase in ageing, chronic illnesses and advancement in endoscopy technology.
In Asia-Pacific, the endoscopy devices market was worth US $1.8 billion in the year 2011 and is expected to reach $3.4 billion by 2017, growing at a CAGR of 11.2% from 2011 to 2017.
Key vendors dominating the endoscopy devices market include Fujifilm Corp., HOYA Corp., Medtronic Inc., and Olympus Medical Systems Corp.
For more information on the global endoscopy devices market, see the latest research: Global Endoscopy Devices Market Report
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