The rise in the obese population, the rise in the prevalence of chronic diseases that require endoscopy devices, shorter recovery times and minimal post-operative complications, and favorable FDA approvals have fueled the growth of the global endoscopy device market for obesity, type II diabetes, and NASH. The market across Europe had the largest share in 2019, accounting for almost two fifths of the market.
Portland, OR, July 8, 2021 (GLOBE NEWSWIRE) – According to the report released by Allied Market Research, the global Obesity, Type II Diabetes and Nash Market Endoscopy Devices Generate $ 2.63 billion in 2019 and is projected to reach $ 3.71 billion by 2028, growing at a CAGR of 7.6% from 2021 to 2028.
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The rise in the obese population, the rise in the prevalence of chronic diseases that require endoscopy devices, shorter recovery times and minimal post-operative complications, and favorable FDA approvals have fueled the growth of the global endoscopy device market for obesity, type II diabetes, and NASH. In addition, technological advances and increasing patient preference for minimally invasive surgeries complement the market growth. However, infections caused by endoscopes and the lack of qualified doctors and endoscopists are hampering market growth. On the contrary, an unmet medical need in developing countries would open up lucrative opportunities for market participants in the future.
Covid-19 scenario:
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The pandemic affected the import and export of raw materials due to the lockdown in several countries. In addition, the increase in the prevalence of Covid-19 among health workers has led to a shortage of endoscopy equipment.
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Several governments imposed strict social distancing regulations that resulted in the closure of manufacturing facilities. This widened the gap between supply and demand.
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Delayed deliveries and production schedules, as well as delays in surgical interventions for safety reasons, have negatively impacted the market.
The global Obesity, Type II Diabetes, and NASH Endoscopy Devices Market is categorized based on product, procedure, disease indication, and region.
The story goes on
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Depending on the product, the market is divided into endoscopes, mechanical endoscopic devices, visualization and documentation systems, accessories and other endoscopic devices. The endoscope segment had the lion’s share in 2019, making up around three-fifths of the market. Additionally, the segment is expected to have the highest CAGR of 8.2% over the forecast period.
On the basis of the procedure, the market is divided into gastric balloon, aspiration therapy, endoscopic gastric sleeve surgery, gastric injection, and lap band surgery. The endoscopic gastric sleeve surgery segment dominated the market in 2019 and accounted for more than three fifths of the market. The segment is expected to have the highest CAGR of 8.2% over the forecast period.
The global Obesity, Type II Diabetes, and NASH Endoscopy Devices market is analyzed in multiple regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Europe had the largest share in 2019, accounting for almost two fifths of the market. However, the Asia Pacific market is expected to be the highest CAGR of 9.6% in the forecast period.
Global Obesity, Type II Diabetes, and NASH Endoscopy Devices Market report includes an in-depth analysis of key market players such as Fractyl Laboratories, Apollo Endosurgery, GI Windows, GI Dynamics, Reshape LifeSciences, Inc., Aspire Bariatrics, Obalon Therapeutics, USGI Medical, Spatz Fgia and Endo Tools Therapeutics.
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We have also published some syndicated market research in a similar area that may be of interest to you. Below is the report title for your reference considering the Impact of Covid-19 on this Market, which will assist you in assessing the aftermath of the pandemic on the short and long term growth trends of this market.
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