Endoscopic Devices - Lesotho | Statista Market Forecast

Revenue in the Endoscopic Devices market market in Lesotho is projected to reach US$1.07m in 2024.
Revenue in Lesotho is expected to show an annual growth rate (CAGR 2024-2029) of 7.95%, resulting in a market volume of US$1.57m by 2029.
In a global context, the majority of revenue will be generated the United States, with projections of US$10.39bn in 2024.
In Lesotho, the adoption of endoscopic devices is steadily increasing, driven by a growing emphasis on minimally invasive surgical techniques and improved healthcare accessibility.

Definition:
The Endoscopic Devices market, a medical technology market, includes the sale of endoscopic devices. Endoscopy involves the use of an endoscope to examine the inside of a hollow organ or body cavity. The market includes various types of endoscopes, such as gastroscopes, laparoscopes, bronchoscopes, and colonoscopes.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B), and governments (B2G). Revenues are allocated to the country where the money is spent.

Key players in the market include Olympus Corporation, Boston Scientific Corporation, and Stryker Corporation. Further information on the key players can be found in the Market Shares boxes.

Endoscopic devices
Implants such as stents

pharmaceuticals for endoscopic procedure

The Endoscopic Devices Market in Lesotho is experiencing moderate growth, influenced by factors such as advancements in medical technology, increasing demand for minimally invasive procedures, and heightened awareness of diagnostic options among healthcare providers and patients.

Customer preferences: In Lesotho, there is a notable shift towards patient-centric care in the Endoscopic Devices Market, as consumers increasingly prioritize minimally invasive procedures that promise quicker recovery and reduced hospital stays. This preference is influenced by rising health awareness and the aging population, prompting a demand for advanced diagnostic tools. Additionally, cultural factors emphasizing family involvement in healthcare decisions are driving patients to seek out innovative treatment options that ensure better outcomes and enhance quality of life.

Trends in the market: In Lesotho, the Endoscopic Devices Market is experiencing a significant surge driven by the increasing demand for minimally invasive surgical options. Patients are favoring these procedures due to their associated benefits, such as shorter recovery times and reduced hospital stays. This trend is further fueled by a growing emphasis on health education and awareness within the population, alongside an aging demographic that requires advanced diagnostic options. The cultural context, which values family involvement in healthcare, encourages patients to seek innovative solutions that enhance treatment outcomes, presenting opportunities for industry stakeholders to invest in cutting-edge technologies and expand their market presence.

Local special circumstances: In Lesotho, the Endoscopic Devices Market is shaped by unique local factors, including its mountainous geography, which poses challenges to healthcare accessibility. This has led to a heightened reliance on minimally invasive procedures, as patients seek solutions that reduce the need for extensive travel for treatment. Additionally, the strong communal ties in Basotho culture encourage family involvement in healthcare decisions, promoting acceptance of innovative medical technologies. Regulatory frameworks are evolving to support the adoption of advanced devices, creating a conducive environment for market growth and attracting investments in healthcare infrastructure.

Underlying macroeconomic factors: The Endoscopic Devices Market in Lesotho is significantly influenced by macroeconomic factors such as national economic health, investment in healthcare infrastructure, and global economic trends. The country's economic stability and growth prospects play a crucial role in determining healthcare funding and the adoption of advanced medical technologies. Favorable fiscal policies aimed at improving healthcare access can stimulate demand for minimally invasive procedures, which are essential in a region with challenging geographical barriers. Furthermore, global trends in medical technology innovation and the rising prevalence of diseases are also driving the need for endoscopic devices, enhancing market potential in Lesotho.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.