Global Pharyngoscopes Market 2018-2022 | Technological Advances in Video Pharyngoscope Systems to Boost Demand | Technavio
Technavio analysts forecast the global pharyngoscopes market to grow at a CAGR of over 8% during the forecast period, according to their latest market research report.
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Technavio analysts forecast the global pharyngoscopes market to grow at a CAGR of over 8% by 2022. (Graphic: Business Wire)
The emergence of HD pharyngoscopes and ultra HD pharyngoscopes is one of the major trends being witnessed in the global pharyngoscopes market 2018-2022. Advances in technology led to the development of HD and ultra HD pharyngoscopes with high resolution to perform endoscopy for accurate diagnosis and treatment. As the demand for highly advanced systems is increasing at a significant rate, several vendors are focusing on developing and commercializing HD and ultra HD pharyngoscopes. They are investing huge amounts in R&D activities and designing novel high definition pharyngoscopes. For instance, Halma offers an extensive range of HD pharyngoscopes designed with high optical performance and high quality.
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According to Technavio analysts, one of the key factors contributing to the growth of the global pharyngoscopes market is the growing technological advances in video pharyngoscope systems:
Global pharyngoscopes market: Growing technological advances in video pharyngoscope systems
A video pharyngoscope is an endoscope attached to a camera, which is used to view internal organs such as the pharynx. Growing preference for video endoscopy systems among the healthcare centers has pushed the sales of video pharyngoscopes, thereby contributing to the growth of the market.
According to a senior analyst at Technavio, “Video pharyngoscopes represent pioneering technology in the field of medical imaging, which is used extensively for both the diagnosis and therapeutic use. They allow doctors and medical technicians to obtain a clear image or video, which enables better detection of diseased organs or areas of concern.”
Global pharyngoscopes market: Segmentation analysis
The global pharyngoscopes market research report provides market segmentation by product (fiber pharyngoscopes and video pharyngoscopes), by end-user (hospitals, ASCs, and others), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major end-user segments, hospitals and ASCs, the hospital's segment held the largest market share in 2017, contributing to a 45% share of the market. The growth of the segment can be due to the availability of various endoscopy devices and favorable reimbursement policies.
The Americas held the largest share of the market in 2017, accounting for 42% share, followed by EMEA and APAC respectively. North America is the major revenue contributor to the region. The growth in the Americas can be attributed to the factors such as the increasing demand for video endoscopy systems and high adoption of MI surgical procedures.
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Five Forces Analysis
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- Vendors covered
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