Technavio, a technology research and advisory company, has released a five-year forecast for the global gastrointestinal (GI) endoscopy devices market. Their research shows an expected cumulative average growth rate of nearly 6% from 2016-2020. This large and growing market is expected to reach a total size of $5 billion by 2020.
The global move towards minimally invasive procedures is driving the trend, despite the recent uptick in publicized outbreaks related to endoscope usage. This press release from Technavio details how large the market is and why it continues to grow.
“One of the most important drivers of this market is the growing popularity of minimally invasive procedures. Traditional open surgeries with longer recovery times are on a decline due to related complications and availability of safe and efficient minimally invasive surgeries. With this, there is a growing demand for devices like GI endoscopes from various medical facilities. Combined with the advances in the medical field, general open surgeries will soon be obsolete and minimally invasive surgeries will be the most adopted form of treatment.
Other factors that are expected to affect this market during the forecast period are the technological advancements in the GI endoscopic devices, increasing product approvals, and the presence of a large patient pool with GI disorders. The global GI endoscopy devices market was valued at USD 3.9 billion in 2015, and is expected to reach USD 5 billion by the end of the market forecast period.”
Read the entire release here: Growing Demand for Minimally Invasive Procedures Drives the Global Gastrointestinal Endoscopy Devices Market: Technavio
With endoscope-related procedures showing no signs of slowing down, hospitals must get used to the trend of minimally invasive procedures. With this, the risk of outbreaks due to poor endoscope reprocessing practices increases due to sheer volume alone. Hospitals must increase their vigilance and be prepared for the volume increases by getting the right processes, people and technology on board.
Go here for more information about managing endoscopes.