Europe Endoscopy Guidewire Market
The endoscopy guidewire market in Europe includes France, Germany, Italy, Spain, the UK, and the Rest of Europe. The health system is comparatively expensive, with a per capita health expenditure being the second highest in Europe region in 2015, which was around 43% higher than the EU average. As per, OECD Health Statistics, Germany spends the highest share of its GDP on health in Europe, the country spends 11.2% of its GDP in health in 2015, whereas the EU average accounted for an average of around 9.9% during the same year. Health insurance is a major aspect in the German healthcare industry, with around 71.4 million Germans covered by statutory health insurance (Gesetzliche Krankenversicherung (GKV)) around 8.8 million Germans covered by private health insurance (Private Krankenversicherung (PKV)) and via state aid. Also, Germany has a very large hospital inpatient sector. As per German Federal Statistical Office, in 2016, there were around 1,951 total hospitals in Germany with 498,718 total number of hospital beds. Germany also has growing number of physicians and nurses. Growth in physician numbers has been particularly strong for hospital physicians. Since 2004, when diagnosis-related group-based hospital payment was introduced, the number of full-time equivalent physicians in hospitals increased by 30% (from 125 000 to 163 000 in 2015). This assures better availability of healthcare services across Germany. The increasing burden of common gastrointestinal (GI) conditions, such as diarrhea and colorectal cancer, has been observed commonly in Germany patients. Therefore, the landscape of GI illness is changing to morbidity and mortality from chronic illness. This rising chronic GI illnesses, such as non-infectious gastric ulcer disease, cancer, dyspepsia, and cirrhosis, creates a huge demand for endoscopic devices in Germany
The COVID–19 pandemic has shown a significant negative impact on the global as well as on European health economies. Health services in European region is highly prioritized to serve for patients affected by COVID-19. The routine health care services have remained suspended. Therefore, it has affected the market and its dependable revenue generation in the region. The endoscopy devices are negatively impacted by the COVID-19 pandemic. According to the UK’s National Endoscopy Database (NED), an average of 35,478 endoscopy procedures were performed per week (by 3007 endoscopists; which means 12 procedures per endoscopist) in the pre-COVID period. In the transition week, this fell by one-third to 23,827 endoscopy procedures. Moreover, in the COVID-impacted period, only 12% of the pre-COVID volume of procedures were conducted (average 4315 per week) and it was at its low point by the end of March 2020, fewer than 1800 procedures per week. This analysis demonstrated remarkable impact that the pandemic has had on endoscopic services.
Strategic insights for the Europe Endoscopy Guidewire provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 377.04 Million |
| Market Size by 2028 | US$ 536.60 Million |
| Global CAGR (2021 - 2028) | 5.2% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe Endoscopy Guidewire refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The endoscopy guidewire market in Europe is expected to grow from US$ 377.04 million in 2021 to US$ 536.60 million by 2028; it is estimated to grow at a CAGR of 5.2% from 2021 to 2028. Evolution of endoscopic robotic systems; Endoscopy technology is being used by the medical robotics for various procedures. It offers various benefits used by endoscopes that may reduce the trauma caused to the GI tract during the procedure. The use of robotics in surgical endoscopy offers an ergonomic mapping of the surgeon's movements to remotely controlled slave arms, helping in tissue manipulation. In gastroenterology, robotics is being used in flexible endoscopes to increase accuracy, safety, as well as improve therapeutic properties and capabilities. Robotic therapeutic endoscopes can perform various procedures from GI surface dissection to transendoluminal peritoneal surgery is possible and developments are in process. This pace of technological development is expected to be due to clinical needs. The rise in the incidence of GI cancer is anticipated to be a major factor accelerating the introduction of robotic systems in endoscopy. Also, other diseases and complications such as gastroesophageal reflux disease (GERD), ulcers in the upper GI, diverticulitis, hemorrhoids, irritable bowel syndrome (IBS), and Crohn's Disease in the lower GI are expected to account for increased demand for robotic systems. At present, robot-assisted endoscopic instruments lack the stability, strength, and precision to perform advanced maneuvers on a risk-free and reliable basis. These issues are the focus of many research groups and surgical technology companies. However, other hybrid technologies are being developed that combine a laparoscope's benefits and an endoscope. For example, the opening and closure of a gastrostomy can be done using laparoscopic instruments, and a cholecystectomy can be endoscopically performed through the gastrotomy, and tissues are removed through the mouth. This is bolstering the growth of the endoscopy guidewire market.
Based on type, the market is segmented into monofilament, coiled, coated. In 2020, the coated segment held the largest share Europe endoscopy guidewire market. Based on core material, the market is divided into stainless steel and nitinol. In 2020, the stainless steel segment held the largest share Europe endoscopy guidewire market. Based on application, the market is segmented into diagnostics and therapeutic. In 2020, the therapeutic segment held the largest share Europe endoscopy guidewire market.
A few major primary and secondary sources referred to for preparing this report on the endoscopy guidewire market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Boston Scientific Corporation
The Europe Endoscopy Guidewire Market is valued at US$ 377.04 Million in 2021, it is projected to reach US$ 536.60 Million by 2028.
As per our report Europe Endoscopy Guidewire Market, the market size is valued at US$ 377.04 Million in 2021, projecting it to reach US$ 536.60 Million by 2028. This translates to a CAGR of approximately 5.2% during the forecast period.
The Europe Endoscopy Guidewire Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Endoscopy Guidewire Market report:
The Europe Endoscopy Guidewire Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Endoscopy Guidewire Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Endoscopy Guidewire Market value chain can benefit from the information contained in a comprehensive market report.
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