U.S. ENDOSCOPY VIDEO PROCESSOR MARKET ANALYSIS

U.S. Endoscopy Video Processor MarketSize and Trends

The U.S. Endoscopy Video Processor market is estimated to be valued at US$ 196.5 Million in 2021 and is expected to increase to US$ 264.7 Million by 2028, witnessing a CAGR of 4.3% over the forecast period (2021-2028).

Figure 1. U.S. Endoscopy Video Processor Market Value (US$ Mn) & Y-o-Y Growth (%)

The increasing prevalence of gastrointestinal disorders is expected to drive the growth of the U.S. endoscopy video processor market.

The major factors contributing to growth of the U.S. endoscopy video processor market are increasing prevalence of gastrointestinal (GI) disorders such as ulcerative colitis, Crohn’s disease, chronic constipation, and other GI tract associated disease. For instance, according to a study published in the Lancet, in October 2017, around 319 cases of Crohn’s disease per 100,000 people were reported in the U.S. Moreover, as per the journal of Gastroenterology’s on Inflammatory Bowel Disease (IBD) in 2017, around 1.6 million patient in the U.S were suffering from IBD.

Market Trends:

The endoscopic video processors market would have a profitable growth opportunity over the forecast period.

Figure 2. U.S. Endoscopy Video Processor Market Share (%), By Product Type, 2021

U.S. Endoscopy Video Processor Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe. The coronavirus (COVID-19) pandemic and lockdown in various countries across the globe has impacted the financial status of businesses in all sectors. Private healthcare sector is one of the sectors, which is majorly impacted by the COVID-19 pandemic.

COVID-19 disease has affected the economy in three main ways; by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to lockdowns imposed in the U.S., key players are facing problems with regards to transportation of medical instruments from one place to another. Delivering care to patients with GI disease during this crisis is challenging due to competing risks of death or serious complications from SARS-CoV-2, and the likely higher risk of COVID-19 in immune compromised hosts.