U.S. Endoscopy Video Processor Market, by Product Type (Video Processors with Display and Video Processors without Display), by Application (Upper GI Endoscopy, Colonoscopy, Bronchoscopy, Sigmoidoscopy, ENT Endoscopy, and Others), by End User (Hospitals, Specialty Clinics, and Ambulatory Surgical Centers), was valued at US$ 196.5 Million in 2021 and is projected to exhibit a CAGR of 4.3% during the forecast period (2021-2028).
Rapid innovation in endoscopy technologies is expected to drive growth of the endoscopy video processor market. New development in the field of endoscopy video processors offer versatile and efficient imaging platform. Furthermore, these endoscopy video processors offers compatibility to a wide range of endoscopes and multiple different observation methods such as 3D visualization and special light observation. For instance, in April 2018, PENTAX Medical, a medical company engaged in diagnostic and therapeutic endoscopy, announced the U.S. launch of the DEFINA EPK-3000 Video Processor, along with the J10 Series Video Naso-Pharyngo-Laryngoscopes. The DEFINA EPK-3000 video processor combines superior functionality with vivid HD image processing and i-SCAN enhancement technology to give clean, clear HD images of nasal, pharyngeal, and laryngeal anatomy in a light and smaller system.
U.S. Endoscopy Video Processor Market – Impact of Coronavirus (COVID-19) Pandemic
COVID-19 pandemic has affected various industries in the U.S. The players operating in the U.S. endoscopy video processor market are facing major challenges on various fronts due to the COVID-19 pandemic. According to the Coronavirus Disease (COVID-19) Weekly Epidemiological Update by the World Health Organization, the number of COVID-19 cases reported in the U.S. as of November 25, 2021, are approximately 258,830,438 confirmed cases with 5,174,646 deaths.
The coronavirus pandemic has negatively impacted the development, production, and supply of medical devices manufactured by various companies across the U.S. Moreover, the supply and production of these devices is also affected due to lockdown imposed in the U.S. during the COVID-19 pandemic. This lockdown has resulted in closure of industrial establishments, except manufacturing of essential commodities, and disruption in supply chain of the pharmaceutical products.
Browse 10 Market Data Tables and 20 Figures spread through 120 Pages and in-depth TOC on “U.S. Endoscopy Video Processor Market”- Forecast to 2028, U.S. Endoscopy Video Processor Market, by Product Type (Video Processors with Display and Video Processors without Display), by Application (Upper GI Endoscopy, Colonoscopy, Bronchoscopy, Sigmoidoscopy, ENT Endoscopy, and Others), by End User (Hospitals, Specialty Clinics, and Ambulatory Surgical Centers) - Forecast to 2028.
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The key players operating in the U.S. endoscopy video processor market are focusing on adoption of inorganic growth strategies such as acquisitions and collaborations to increase their market presence in the U.S. market. For instance, in May 2018, Olympus Corporation, a Japanese manufacturer of optics and reprography products, collaborated with ai4gi, the company that specializes in Artificial Intelligence solutions, for gastrointestinal cancer screening.
Key Takeaways of the U.S. Endoscopy Video Processor Market:
- The U.S. endoscopy video processor market is expected to exhibit a CAGR of 4.3% during the forecast period, owing to increasing prevalence of colorectal cancer. According to the data published by American Cancer Society, around 280,000 new cases and 200,000 related deaths from colorectal cancer are projected by 2030 and around 24.4 million people would need to be screened for colorectal cancer in the U.S.
- Among product type, Video processors without display is expected to account for the highest market share in endoscope video processor market in the forecast period owing to increasing launch of innovative products by key players. For instance, in March 2017, Olympus Corporation launched VISERA ELITE II, a compact surgical endoscope system with an infra-red (IR) imaging capability. This makes the system smaller and lighter and aids in reducing the overall workload.
- Among application, colonoscopy segment is expected to account for the highest market share in endoscope video processor market in the forecast period owing to increasing prevalence of colorectal cancer. For instance, according to the data published by American Cancer Society, in 2020, there will be an estimated 104,610 new cases of colon cancer and 43,340 cases of rectal cancer diagnosed in the U.S. and an estimated 53,200 people will die from it.
- Major players operating in the U.S. endoscopy video processor market include Olympus Corporation, Fujifilm Holdings Corporation, Karl Storz SE & Co. KG, Stryker Corporation, Boston Scientific Corporation, Richard Wolf GmbH, Sonoscape Medical Corp., XION GMBH, and PENTAX Medical.
