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Innovator Profiles & Innovation Hotspots
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The endoscopy devices market, like most of the medical devices industry, is expected to experience slowing growth rates, in the traditional markets, across the flexible and rigid endoscopy, equipment, and accessories segments. The global market for endoscopy devices is expected to grow from $43.40 billion in 2018 to $45.95 billion in 2019, representing a year-on-year growth rate of just 6.6%. The top-ranked manufacturers like Olympus Corp, Karl Storz, Smith & Nephew, Stryker, Johnson & Johnson, Medtronic and Boston Scientific are seeking new ways of competitive differentiation to help boost their growth in this market, by developing capabilities that are synergistic to their own portfolios and therefore can provide unique value propositions in endoscopy. The question remains, how can they boost growth further, and capture higher market shares? The answer lies in innovation being driven predominantly by start-ups that attempt to transform endoscopy with the power of novel technologies.Endoscopy is now seeing a new wave of innovation, unlike another seen before. The start-up boom, innovative technology developments such as artificial intelligence (AI), and the need for incumbents to think beyond product enhancements for competitive differentiation have all resulted in several new innovative products. Frost & Sullivan has identified between 50 and 60 such innovative products for the endoscopy space, and has profiled the top 30 such products and their manufacturers. The range of products covered include new endoscopy products, AI-enabled image analysis solutions, robotic solutions, advanced visualization solutions, and even therapy products for endoscopy. Some of these products have received regulatory approvals as well, in the United States, Canada, Europe, and even in some Asian countries, while the others are yet to receive any approval. These products, summarized in the study, are sure to change the paradigm of endoscopy in the near future.
This study covers profiles of the following endoscopy innovator companies, innovation hotspots in the endoscopy area, and key growth opportunities. Companies covered include NinePoint Medical, SpectraScience, Avantis Medical Systems Inc., Transenterix, RFPi Inc., Virtual Incision Corporation, MedicalTek, CTA, 4Quant, Perceive3D, 3D Integrated, Virgo.AI, Check-Cap, Lumendi, Interscope Inc., Ambu, Creo Medical, Norgine B.V., GI View Ltd., Motus GI, Boston Scientific, Ovesco, Saneso, Docbot, Cook Medical, Auris Surgical (now part of Johnson & Johnson), VTM Technologies, Surgical Synergy, Mirai Medical, and Xion Medical. Each profile covers aspects of business: company overview, key statistics, company ownership, and funding details; product portfolio: key features and product attributes, appropriate imagery, approvals, enhancements, other specifications, pricing models; and also information on key partnerships, agreements, and growth strategy – to the extent publicly available, or can be discerned from other public information.
Author: Siddharth Shah
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