The endoscope market is experiencing growth, according to P&S Intelligence. In the coming few years, North America is projected to hold the largest market share. This can be credited to the rising elderly populace, increasing occurrence of chronic illnesses, and growing count of hospitals in the continent. Also, the existence of key industry players, continuous technological improvements, and refining healthcare facilities will ease market development.
The rising cases of chronic diseases, including respiratory illnesses, and cardiovascular illnesses will boost the need for progressive endoscopy equipment in the near future. The Heart Disease and Stroke Statistics 2018 statement of the American Heart Association (AHA) stated that the U.S. witnessed 836,546 CVD demises, which was reported for about one in every three demises in the nation.
Also, as per the 2017 estimations of the Canadian Cancer Society, cancer was the major reason of death in Canada, and closely one in four people expired from it, which amounted to 30.2% of the demises in the nation.
Other major factors of demise in Canada are cardiovascular disease, accidents, and chronic lesser respiratory syndromes. The growing cases of such conditions are causing an increase in the volume of endoscopy events, therefore driving the endoscope industry development.
North America is the biggest user of endoscopes and is projected to advance with a market share of more than 47.7% in the coming few years. This can be ascribed to the quick technological growth, presence of key market companies, huge count of hospitals, better-quality healthcare infrastructure, high occurrence of chronic diseases, and a huge population of aging people.
In North America, the U.S. dominated the endoscope market because of the growing cases of gastrointestinal and respiratory illnesses, the rising elderly populace, and the rising count of hospitals.
Hence, the rising cases of chronic diseases, including respiratory illnesses, and cardiovascular illnesses are the major factors contributing to the growth of the endoscope market.