Market Analysis - Endoscopy 2018
The Netherlands diagnostic imaging and endoscopy market was valued at $0.593 billion in 2014 and is projected to reach $0.791 billion by 2020 growing at a CAGR of 5.91%. In the diagnostic imaging sector, at University Medical Center, Utrecht (UMC Utrecht), touted as one of the leading hospitals in Europe, the physicists, chemists, computer scientists, and clinicians are collaborating with researchers and private organizations in the Netherlands, to work together to develop commercial imaging devices to meet crucial medical needs. Following the same, UMC Utrecht developed MRI Linac, a first-of-its-kind imaging system, allowing doctors to visualize vascular abnormalities during radiotherapy. Dutch multinational company, Philips, which also ventured into healthcare, was influential in the development of the MRI Linac.
In 2013, the global endoscopy market was valued at $28.9 billion is projected to grow at a CAGR of 6.1% to reach $43.73 billion by 2020 and then thereafter with a CAGR of about 6.9% to reach the market value of $60.96 billion by 2025. With a total market value of $20 billion and $11 billion endoscopes and imaging systems have contributed about 40% of the total global endoscopy market. With ever increasing awareness of patients and physicians towards newer minimally invasive surgeries and diagnostic imaging, there is a positive growth and reception towards novel technologies due to innumerable advantages.
With the increasing demand for endoscopic procedures for the elderly and their preference for minimally invasive surgeries is the crucial factor for the growth of the endoscopic market as the elderly are quite susceptible to various gastrointestinal, urinary, orthopedic and ophthalmic diseases. Also, the percentage of obese has exceeded 2.1 billion and about 65 million people with GERD symptoms, thereby promoting the use of minimally invasive surgeries and noninvasive diagnostic techniques. North America accounts for the largest share of the global endoscopy market closely followed by Europe and Asia. North America and Europe have a high demand for endoscopes and other non-invasive imaging techniques due to advances in the technology, medicine and the ease of diagnosis.
Endoscopy and noninvasive diagnostic imaging is now being pushed in increasing number of government-run hospitals, and are being expanded to rural healthcare facilities thereby increasing the life expectancy, by reducing the risk of postoperative infections caused after explorative surgeries especially in the developing countries. China and India are being touted as the largest markets for endoscopy and abdominal imaging in the Asian market, with the steady and fast paced growth in the rest of the world.
The major market competitors in endoscopy market are Aesculap, Inc., Arthrex, Inc., Boston Scientific, ConMed, Covidien Plc., Ethicon Endo-Surgery, Inc., Fujifilm Holdings Corporation, Hoya Corporation, Karl Storz, Olympus Corporation, Richard Wolf GmbH, Smiths Group, and Stryker Corporation.
Abdominal Imaging is a field under diagnostic imaging, which is expected to grow at a CAGR of 6.6% to reach $44.48 Billion by 2025 from the value of $26.70 in 2017. The factors influencing the growth of the diagnostic imaging markets are the increasing investments and funding by the government and various organizations for the futuristic transformation of imaging facilities while being both cost and time effective. In the imaging market, North America commands the largest share of the market followed by Europe and the Asia-Pacific. Brazil, China, India, Mexico, and South Africa are the newly emerging markets for the companies to develop and market these new technologies due to the high scope of acceptance of the latest technologies and increasing awareness.
Major companies in the diagnostic imaging market are GE Healthcare, Siemens Healthcare GmBH, Koninklijke Philips N.V., Toshiba Medical Systems Corporation, Hitachi Ltd., and Shimadzu Corporation. The diagnostic imaging market includes X-ray Imaging Systems, Ultrasound Systems, Computed Tomography (CT) Scanners, Magnetic Resonance Imaging (MRI) Systems, and Nuclear Imaging Systems.
The global X-ray imaging market was valued at $11.8 billion in 2016 and is the largest market in the global diagnostic imaging market with the ultrasound imaging market valued at $6.5 billion in 2016. The computed tomography (CT) scanners imaging market was estimated at $4.8 billion and was the third largest market in the global diagnostic market in 2016. The Euro-MRI market was valued at $1579.84 million in 2016 and is projected to grow at a CAGR of 4.9% to reach $2417.90 million by 2025 while the global nuclear imaging market was estimated at $1.3 billion and was the smallest market in the global market of diagnostic imaging.
International Conference on Abdominal Imaging and Endoscopy is a premier medium for discussions and critics, by encouraging positive discussion of emerging technologies and advancements in studying unusual and usual cases of diseases, obstructions, tumours aiding in understanding the disease process, prognosis, diagnosis, and treatment of internal organs involved in the gastrointestinal tract, viz. oesophagus, larynx, stomach, gastric organs, abdomen, small and large intestine (colon and rectum) and surrounding organs.
The team involved in organizing Endoscopy 2018 believes that one only learns through his/her experiences gained through social and academic participations and that a true learning happens in the “hallways” through networking in conferences, so we focus on the increased positive social networking through discussions of participants.