DUBLIN–(BUSINESS WIRE)–The “Endoscopy Guidewire Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Type (Monofilament, Coiled, Coated); Core Material (Stainless Steel, Nitinol); Application (Diagnostics, Therapeutic), and Geography” report has been added to ResearchAndMarkets.com’s offering.
According to this report the market was valued at US$ 1,192.04 million in 2021 and is projected to reach US$ 1,749.60 million by 2028; it is expected to grow at a CAGR of 5.6% during 2021-2028.
The report highlights the trends prevailing in the market, and drivers and deterrents pertaining to the market growth. The growth of the market is mainly attributed to the key factors such as the rising prevalence of diseases requiring endoscopy and favorable government initiatives. However, risk of infections caused due to endoscopy and high cost of endoscopy procedures & equipment restrain the market growth. On the other side, the rising patient preference for minimally invasive procedures offer lucrative opportunities for the growth of the market during the forecast period.
Endoscopy is a procedure, which helps doctors or physicians to view and operate internal organs and vessels of the body. As this is a minimally invasive procedure, it is preferred on a large scale for diagnosis and treatment of various diseases and medical conditions. Endoscopy can be performed on different internal body organs with the help of specialized instruments. Endoscopy is preferred in diseases or medical conditions such as cancer and gastrointestinal disorders. In recent years, there has been a substantial rise in cancer cases and other diseases needing endoscopy.
For instance, the American Cancer Society estimates about 26,560 new cases (16,160 in men and 10,400 in women) of stomach cancer in the US by 2021. Endoscopy procedure is highly preferred during the detection and treatment of various indications, such as ulcers, liver & kidney diseases, and chronic joint symptoms, which have increased significantly in recent years due to various environmental factors and change in the individual’s lifestyle in developing economies. With an increase in these medical conditions, the demand for endoscopy procedures is expected to increase the adoption of endoscopy guidewire devices in the coming years.
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Market Dynamics
Drivers
Rising Prevalence of Diseases Requiring Endoscopy
Favourable Government Initiatives
Restraints
Risk of Infections Caused Due to Endoscopy and High Cost of Endoscopy Procedures & Equipment
Opportunities
Rising Patient Preference for Minimally Invasive Procedures
Future Trends
Development of Endoscopic Robotic Systems
Companies Mentioned
Olympus Corporation
Steris Plc.
Conmed Corporation
Boston Scientific Corporation
Merit Medical Systems Inc.
Medtronic
Cook Medical Llc
Medorah Meditek Pvt. Ltd.
Hobbs Medical Inc
For more information about this report visit https://www.researchandmarkets.com/r/ipw6gc