This study involved four major activities in estimating the current endoscopy equipment market size. Extensive research was conducted to collect information on the market as well as its peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the value market. After that, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.
Secondary Research
The secondary research process involves the widespread use of secondary sources, directories, databases (such as Bloomberg Business, Factiva, and D&B Hoovers), white papers, annual reports, companies house documents, investor presentations, and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the endoscopy equipment market. It was also used to obtain important information about the key players and market classification & segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.
Some of the key secondary resources referred to in this study include:
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American Society for Gastrointestinal Endoscopy (ASGE)
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Society of Gastroenterology Nurses and Associates (SGNA)
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European Society of Gastrointestinal Endoscopy (ESGE)
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American Gastroenterological Association (AGA)
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European Society of Gastroenterology and Endoscopy Nurses and Associates (ESGENA)
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Canadian Association of Gastroenterology (CAG)
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Gastroenterological Society of Australia (GESA)
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Society of Gastrointestinal Endoscopy of India (SGEI)
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Asia-Pacific Association for Gynecologic Endoscopy and Minimally Invasive Therapy (APAGE)
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British Society of Gastroenterology (BSG)
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British Society for Gynaecological Endoscopy (BSGE)
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International Federation of Societies of Endoscopic Surgeons (IFSES)
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German Society for Gastroenterology, Digestive, and Metabolic Diseases (DGVS)
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American Cancer Society (ACS)
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Canadian Cancer Society
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World Health Organization (WHO)
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National Health Service (NHS)
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Indian Council of Medical Research (ICMR)
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American Hospital Association
Primary Research
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. Primary sources from the supply side include CEOs, consultants, subject-matter experts, directors, general managers, developers, and other key opinion leaders of the various companies that offer endoscopy equipment products. Primary sources from the demand side include industry experts such as doctors, hospital directors and managers, and other medical professionals.
WPrimary research was conducted to identify segmentation types; industry trends; technology trends; key players; and key market dynamics such as drivers, restraints, opportunities, challenges, and key player strategies.
Breakdown of Primary Interviews (Supply Side): By End-User Type, Designation, And Region
Note 1: Others include sales, marketing, and product managers.
Note 2: Their total revenues define the tiers of companies as of 2021, tier 1 = >USD 500 million, tier 2 = USD 200 million to USD 500 million, and tier 3 = <USD 200 million.
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Breakdown Of Primary Interviews (Demand Side): By End-User Type, Designation, And Region
Note 1: Others include diagnostic centers, mobile endoscopy and office endoscopy services.
Market Size Estimation
The total size of the endoscopy equipment market was arrived at after data triangulation from four different approaches, as mentioned below.
Bottom-up Approach: Revenues of individual companies were gathered from public sources and databases. Shares of the medical device cleaning businesses of leading players were gathered from secondary sources to the extent available. In certain cases, the share of the business unit was ascertained after a detailed analysis of various parameters, including product portfolio, market positioning, selling price, and geographic reach and strength. Individual shares or revenue estimates were validated through expert interviews.
Country level Analysis: The size of the endoscopy equipment market was obtained from the annual presentations of leading players and secondary data available in the public domain. The share of endoscopy equipment products in the overall endoscopy equipment market was obtained from secondary data and validated by primary participants to arrive at the total endoscopy equipment market. Primary participants further validated the numbers.
Primary Interviews: As a part of the primary research process, individual respondent insights on the market size and growth were taken during the interview (regional and global, as applicable). All the responses were collated, and a weighted average was taken to derive a probabilistic estimate of the market size and growth rate.
Geographic market assessment (by region & country): The geographic assessment was done using the following approaches:
Approach 1: Geographic revenue contributions/splits of leading players in the market (wherever available) and respective growth trends
Approach 2: Geographic adoption trends for individual product segments by end users and growth prospects for each of the segments (assumptions and indicative estimates validated from primary interviews)
At each point, the assumptions and approaches were validated through industry experts contacted during primary research. Considering the limitations of data available from secondary research, revenue estimates for individual companies (for the overall endoscopy equipment market and geographic market assessment) were ascertained based on a detailed analysis of their respective product offerings, geographic reach/strength (direct or through distributors or suppliers), and the shares of the leading players in a particular region or country.
After complete market engineering with calculations for market statistics, market size estimations, market forecasting, market breakdown, and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods to perform market estimation and market forecasting for the overall market segments and subsegments listed in this report. Extensive qualitative and further quantitative analysis was also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.
Global Endoscopy Equipment Market Size: Top-Down Approach
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Global Endoscopy Equipment Market Size: Bottom-Up Approach
Data Triangulation
After arriving at the market size, the total market was divided into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, data triangulation and market breakdown procedures were employed wherever applicable.
Approach to derive the market size and estimate market growth
The market rankings for leading players were ascertained after a detailed assessment of their revenues from the endoscopy equipment business using secondary data available through paid and unpaid sources. Owing to data limitations, in certain cases, the revenue share was arrived at after a detailed assessment of the product portfolios of major companies and their respective sales performance. At each point, this data was validated through primary interviews with industry experts.
Market Definition
An endoscope is a tubular viewing device that allows physicians to look inside joints and body cavities that otherwise could only be examined through invasive procedures, such as open surgeries. Endoscopy equipment includes endoscopes, visualization systems, and other instruments that support endoscopic surgical procedures, and the accessories are used to ease the handling of instruments during surgeries.
Key Stakeholders
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Manufacturing companies of endoscopes and related devices
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Suppliers and distributors of endoscopy devices
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Hospitals, diagnostic centers, and medical colleges
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Independent surgeons and private offices of physicians
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Ambulatory surgery centers
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Teaching hospitals and academic medical centers
Objectives of the Study
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To describe, analyze, and forecast the endoscopy equipment market, by product, application, end user, and region
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To describe and forecast the endoscopy equipment market for key regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa
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To provide detailed information regarding drivers, restraints, opportunities, and challenges influencing the market growth
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To strategically analyze the ecosystem, regulations, patent landscape, trade landscape, and case studies pertaining to the market under study
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To provide a detailed overview of the supply chain pertaining to the endoscopy equipment market, along with the average selling price of different types of endoscopy equipment
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To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market
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To analyze market opportunities for stakeholders and provide details of the competitive landscape for market players.
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To profile key players and comprehensively analyze their market shares and core competencies2 in the endoscopy equipment market
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To analyze competitive developments such as partnerships, collaborations, alliances & acquisitions, product launches, expansions, and R&D activities in the endoscopy equipment market.
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:
Company Information
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Detailed analysis and profiling of additional market players
Geographic Analysis
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Further breakdown of the Rest of Asia Pacific endoscopy equipment market into China, Japan, India, South Korea, and other countries.
Growth opportunities and latent adjacency in Endoscopy Equipment Market