The worldwide endoscopy device market is expected to reach $36.9 billion in 2019, growing at a compound annual growth rate of 6.8 percent from 2013 to 2019, according to the recent Transparency Market Research report. In 2012, the market was worth $24.9 billion.

Part of what is driving the market is increased interest in minimally invasive procedures.

Additionally, the endoscopy procedures can be both diagnostic and operative for gastrointestinal, urological, cardiovascular, joint and ear, nose and throat surgeries.

The recent advancements in endoscopy technology have also been spurring adoption of the devices.

Fiber-optic endoscopes are known to be fragile and easily broken, but the newer endoscopes called videoscopes have a video chip at their distal end, which allows for better durability and image quality. Videoscopes are anticipated to replace fiber-optic and rob-lens devices in the near future, according to the report.

Capsule and robot-assisted endoscopes are also revolutionizing the market. The capsule devices have built-in cameras and wireless transmission systems that transmit high-quality images of the gastrointestinal tract to external receivers.

Those options made diagnosing the gastrointestinal tract more efficient because it can reach areas where flexible endoscopes can’t. Given Imaging, which was acquired by Covidien earlier this year, owns about 85 percent of the global capsule endoscopy market share, with Olympus Corporation of the Americas, IntroMedic, and Jinshan Medical playing smaller roles.

The leader of the robot-assisted market is Intuitive Surgical, Inc., with their Da Vinci surgical system. But Endo Control, Inc., Olympus, Meere Company, Inc., MAKO Surgical and Titan Medical, Inc. also are players.

Endoscopic ultrasound devices and 3-D camera systems have also been having their imprint on the market. Advances in depth perception of the 3-D camera systems have led to fewer errors during surgery which is shortening the overall surgery time.

However, the high cost of the newest devices and the shortage of skilled professionals may hinder the market’s growth.

Many of the players in the market are keeping their eyes on the Asian market including India, China and Japan for future opportunities. The endoscopy market will flourish in that environment due to the improving economies and growing health care sectors, and an increase in the upper and middle class population.

There is also a large customer base in India, Brazil and Southeast Asia because of higher incidences of diseases.

The major companies in the endoscopic ultrasound market are Boston Scientific, Cook Medical, Covidien, Ethicon Endo-Surgery, HOYA Corporation, Intuitive Surgical, KARL STORZ Endoscopy, Olympus and Richard Wolf Medical Instruments Corporation.

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