Latin American markets likely to witness balanced growth of endoscopy equipment market
According to a report published by ReportsnReports, the global endoscopy equipment market, comprising endoscopes and visualization equipment, is estimated to reach USD 37.9 billion by 2018. The Latin American markets will witness a balanced growth of the market due to extended reimbursement coverage, governments’ disbursement on healthcare services for the betterment of the sector and the mature cognizance level of patients regarding minimally invasive surgeries. The report also suggests that China, India, Japan, Australia, and New Zealand will be the center of growth of this market in coming years. The level of competition in the global market is high due to the presence of many big and small enterprises with similar product portfolios. Innovations, mergers and acquisitions and geographic expansions are the strategies followed by companies to increase their market coverage and to establish a strong presence in the global market. High costs of endoscopic systems and lack of trained professionals to handle these highly sophisticated endoscopy systems are the factors, which may limit the growth of the market.
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