Based on a recent report published by iData Research on the global video endoscopy market, several mergers, acquisitions, and deals occurred within the past few years. Video endoscopy systems are used to view the live, color video of the interior of the body during diagnostic and therapeutic minimally invasive surgeries (MIS).
Top most impactful M&A’s and partnerships in the Global video endoscopy market include:
- Olympus acquiring Quest Photonic Devices.
- Stryker acquiring Mobius imaging and Cardan Robotics for $500 million.
- The U.S. Department of Defense entering into an agreement with Arthrex.
Olympus Acquires Quest Photonic Devices
Olympus announced in late January 2021 that it would acquire Quest Photonic Devices for $60.7 million. Through the newly announced merger, the company will be able to enhance its surgical endoscopy capabilities. Quest, a Netherland-based company, focuses and develops fluorescence imaging systems (FIS). The company’s technologies offers multi-spectral imaging and imaging systems for medical applications.
For many years, Quest Medical Imaging has been a leader in the industrial Multi-spectral camera market. With its unique 3 and 5 channel camera technologies, Quest has also become known for its specialized and high-quality software solutions that can often reveal exceptional, previously unknown data.blockquote who=”Olympus global head of surgical endoscopy Kanichi Matsumoto.” We are delighted to incorporate Quest’s advanced FIS capabilities into our comprehensive medical imaging portfolio. The combination of the Quest Spectrum product line’s leading FIS technologies with Olympus’ existing laparoscopic imaging system Visera Elite II will enable Olympus to offer surgeons a wide range of high-quality fluorescence imaging solutions, With this acquisition, Olympus is capable of expanding opportunities in the imaging space beyond the companies Visera Elite II laparoscopic imaging system.
Overall, Olympus was the leading competitor. The company, as the number one manufacturer of endoscopes in the world, used its trusted and established brand name to capture a significant share of the video endoscopy market in 2020.
Stryker Acquires Mobius
In September 2019, Stryker announced the acquisition of Mobius Imaging and its sister company Cardan Robotics for $500 million. This was a gateway for Stryker to enter the intra-operating imaging segment. Mobius has been focused on integrating advanced imaging technologies into workflows since it was founded in 2008. They developed the Airo TruCT scanner, considered a best-in-class mobile, real-time, diagnostic-quality CT imaging system which won 510(k) clearance from the FDA in April 2018.
Founded in 2015, Cardan is developing robotics and navigation technologies for spinal procedures. Spencer Stiles, president of Stryker’s orthopedics and spine group. This acquisition brings expertise in advanced imaging and robotics as well as a robust product pipeline that adds to Stryker’s portfolio and will allow the spine division to provide more complete procedural solutions, including sales, service, and support, With this acquisition, Stryker was able to boost its presence in the spine, orthopedic, video endoscopy, and neurotechnology markets. It has also granted Stryker’s spine division access to the intraoperative imaging software by Mobius, which aligns with their navigation and implants portfolio.
Overall, Stryker was the second-leading competitor. The company offered products in all segments other than medical photo printers.
The U.S. Department of Defense Enters Agreement with Arthrex
In August 2019, the U.S. Department of Defense entered into a contract with Arthrex worth up to $375 million for hospital equipment and accessories. This deal had been initiated a year prior from a direct sales pitch presented directly to the department head, allowing them to win amongst 58 other companies. The contract enabled all military hospitals, U.S. Department of Veterans Affairs hospitals, and municipal and community hospitals that serve the military to place any orders for Arthrex products through an electronic catalog.
Arthrex was the sixth-leading competitor in the Global Video Endoscopy market, which was solely attributed to its share of the surgical camera system market.
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Overall, the Global Video Endoscopy market size has reached a valuation of $6.5 million in 2020. Competitive pressures within the market are expected to continue driving its growth, allowing it to exceed $7.8 billion in 2027.