The Mexican endoscopy devices market is expected to witness a CAGR of 6.15%, during the forecast period. Certain factors that are driving the market growth include the increasing demand for minimally invasive surgeries, increasing prevalence of endoscopy for treatment and diagnosis, and technological advancements leading to enhanced applications.
- The increasing usage of minimally invasive surgical techniques, particularly in gastric surgeries, can be attributed to the constant innovations in robotics and virtual techniques in surgical practices. Benefits associated with minimally invasive surgeries, such as increased safety, decreased scarring, faster recovery, and reduced length of hospital stay, increase the preference for these surgical techniques over other techniques.
- The laparoscopy surgery is one of the most preferred type of minimally invasive surgeries that is performed across the country. Laparoscopic surgery has been witnessing a number of developments for the treatment of colon and gastric cancer, and cholecystectomy. Hence, rising awareness among the Mexican population regarding minimally invasive procedures and growing prevalence of chronic diseases, nationwide, are boosting the demand for endoscopy devices.
- However, several hygiene issues have been arising due to the use of endoscopes in multiple patients. These endoscopes are fitted with cameras and sensors and should be sterilized and disinfected after every use. Contaminated endoscopes are the medical devices regularly associated with outbreaks of healthcare-associated infections. Flexible endoscopes may become heavily contaminated with blood, secretions, and micro-organisms, and are also difficult to clean and disinfect. Endoscopes have revolutionized the treatment and prevention of certain diseases, but they are also imposing the risk of infection that is associated with the usage of the devices, thus negatively impacting the growth of the market studied.
Key Market Trends
The Capsule Endoscope Segment is Expected to Show Lucrative Growth
Capsule endoscopy is an effective, automatic, simple, and painless method of imaging the mucosa of the digestive tract. It has numerous potential applications and a rising role in the digestive pathological examination. The market for capsule endoscope is expected to be driven by favorable reimbursement policies, technological advancements, and an increasing number of new players in the market. The usage of a capsule endoscope not only makes a patient’s visits to the hospitals/clinics more comfortable but also lowers the examination costs, while offering proper treatment. A capsule endoscope is designed as a disposable device after use. This eliminates any possibility of in-hospital infection, as in the case of conventional endoscopy.
The market is moderately competitive and consists of a number of major players. Companies, like Boston Scientific Corporation, Conmed Corporation, Cook Medical, Ethicon Endo-Surgery (Johnson and Johnson), Fujifilm Holdings, Medtronic PLC, Olympus Corporation, Richard Wolf GmbH, and STERIS Corporation, among others, hold the substantial market share in the Mexican endoscopy devices market.
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