Endoscopy Devices Market exhibiting CAGR of 7.2% from 2023 to 2032, owing to increasing adoption of minimally invasive surgeries | insightSLICE
The global Endoscopy Devices market size was estimated to be US$ 43 billion in 2021 and is expected grow at a CAGR of 7.2% between 2023 to 2032.
An endoscopy is equipment that can be used to see inside a body through the use of a camera and its use in relation to medical care is expanding.
The biopsy is crucial for the early diagnosis of medical conditions like cancer due to the increasing complexity of serious illnesses and developments in the medical profession. The National Cancer Institute estimates that 442.4 new instances of cancer are diagnosed for every 100,000 men and women in the US.
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The key players of the Global Endoscopy Devices Market are:
HOYA Corporation, Olympus Corporation, Boston Scientific Corporation, Fujifilm Holdings Corporation, Stryker Corporation, CONMED Corporation, Medtronic Plc, KARL STORZ GmbH & Co. KG, Johnson & Johnson, Smith & Nephew Plc, and others are the major competitors in the Endoscopy Devices Market.
Cancers are contributing majorly to the growth of endoscopy market:
Rising cancer and other disease diagnostic and treatment costs represent a significant development opportunity for companies selling endoscopic devices. There are 158.3 incidences of cancer mortality per 100,000 people in the USA as of current data.
Additionally, traditional diagnostic techniques like X-rays and CT scans are unable to distinguish between malignant and benign cell development in the majority of cancer types.
Doctors frequently need a biopsy to be certain of the diagnosis. The market for endoscopy equipment is expected to experience significant growth due to the rising prevalence of cancer, increased knowledge of biopsy procedures, and advancements in endoscopic devices.
Research that was published in the New England Medical Journal estimates that 10 million endoscopies and related gastronomy operations are carried out annually in the United States.
Endoscopy is a crucial component of gastronomical operations because doctors utilize it to diagnose a wide range of illnesses, including anemia, hemorrhaging, infection, and malignancies of the digestive and endocrine systems. The healthcare system is currently faced with significant challenges from several of these disorders.
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Irritable Bowel Syndrome, also known as IBS, affects 10% to 15% of adults across the United States, based on the American College of Gastronomy report. The Centers for Disease Prevention and Control acknowledge that it is frequently accompanied by chronic disorders.
It continues to be among the most commonly diagnosed diseases by doctors. Therefore, early detection of this condition is crucial, and lifestyle factors like sedentary behavior, poor eating habits, and the increase of other diseases like cardiovascular disease are likely to exacerbate its effects in the adult population.
Players in the endoscopic devices market are projected to see growth due to the increase in requirement for gastronomical treatments, expansion in the older population, and deteriorating health conditions.
Other factors that are providing boost to this market:
The growing geriatric population and the incidence of illnesses like bladder cancer will continue to be major drivers of market growth for endoscopic devices. More than 80,000 people in the US received a diagnosis of bladder cancer in 2019, according to the American Cancer Society.
Additionally, the illness is anticipated to cause close to 20,000 fatalities in 2019. Endoscopy has traditionally been used primarily to diagnose and examine urinary tract problems.
Chronically ill patients’ reliance on intensive hospitalization, their need for biopsies, and the requirement for careful evaluation of the urinary tract continue to be major development drivers.
Meanwhile, new developments in endoscopic technology have made robotic-assisted endoscopy and disposable endoscopes a reality for cutting-edge applications. In order to facilitate the expansion of sophisticated medical equipment like single-use cystoscopy among several others, the FDA has also shortened the approval process.
On the consumer end, factors including lack of exercise, an increase in sedentary behavior, and the popularity of cystoscopy will continue to play a significant role in the rise in endoscopic demand. Rising occurrences of ureteroscopy procedures and urinary diseases will also help manufacturers in the market for endoscopy devices flourish.
Global Endoscopy Devices Market Key Segments:
By Product
- Endoscopes
- Rigid Endoscopes
- Laparoscopes
- Arthroscopes
- Urology Endoscopes
- Cystoscopes
- Gynecology Endoscopes
- Neuroendscopes
- Other Rigid Endoscopes
- Flexible Endoscopes
- Upper Gastrointestinal Endoscopes
- Colonoscopes
- Bronchoscopes
- Sigmoidoscopes
- Laryngoscopes
- Pharyngoscopes
- Duodenoscopes
- Nasopharyngoscopes
- Rhinoscopes
- Other Flexible Endoscopes
- Capsule Endoscopes
- Rigid Endoscopes
- Visualization Systems
- Wireless Display & Monitors
- Endoscopic light Sources
- Video Convertors
- Video Recorders
- Video Processors
- Camera Heads
- Light Sources
- Transmitters and Receivers
- Carts
- Others
- Other Endoscopy Equipment
- Electronic Endoscopy Equipment
- Insufflators
- Endoscopy Fluid Management Systems
- Endoscopic Ultrasound (EUS)
- Other Electronic Endoscopy Instruments
- Mechanical Endoscopy Equipment
- Biopsy Forceps
- Graspers
- Snares
- Trocars and Cannulas
- Other Mechanical Endoscopy Instruments
- Electronic Endoscopy Equipment
- Accessories
- Light cables
- Cleaning Brushes
- Surgical Dissectors
- Needle Holders & Needle Forceps
- Fluid-flushing Devices
- Mouth Pieces
- Overtubes
- Biopsy Valves
- Other endoscopy accessories
By Application
- Gastrointestinal (GI) Endoscopy
- Laparoscopy
- Obstetrics/Gynecology Endoscopy
- Arthroscopy
- Urology Endoscopy (Cystoscopy)
- Bronchoscopy
- Mediastinoscopy
- ENT Endoscopy
- Others Applications
By End User
- Hospitals
- Ambulatory Surgical Centers/Clinics
- Others (mobile endoscopy facilities and office endoscopy services)
By Region
North America
-
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- Rest of APAC
- South America
- Brazil
- Rest of South America
- Middle East & Africa
- UAE
- South Africa
- Saudi Arabia
- Rest of MEA
The leading market segments of Global Endoscopy Devices Market
The biggest market share of approximately 37% was attained by endoscopy visualization systems in 2021 from the total share of endoscopy equipment types. This can be linked to the increasing preference among medical professionals for high-definition (HD) visualization systems, which aid in the treatment and evaluation of complex disorders.
Due to the growing demand for safety, improved ergonomics, and efficacy over rigid endoscopes, flexible endoscopes topped the sector with the biggest value share in 2021. Given that hospitals serve as the principal health facility in the majority of nations, they are expected to represent the largest end-user in 2021.
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Additionally, compared to other healthcare systems like specialist clinics or ambulatory surgical centers, hospitals perform a greater amount of endoscopic surgeries overall. As a result, relative to other end-use groups, hospitals have a larger need for endoscopic equipment.
Regional performance of Endoscopy Devices Market
Due to a growth in the demand for minimally invasive procedures, an increase in the incidence of diseases including urinary and colorectal cancer, as well as a rise in the number of elderly people, North America accounted for the greatest revenue share (43%) in 2021.
Furthermore, the increasing use of robot-assisted endoscopes for medical and diagnostic techniques is encouraging market expansion in the area.
Nevertheless, during the predicted period, the Asia Pacific is expected to be the most attractive region in terms of growth and sales. China’s and India’s growing economies are thought to be the main drivers of this region’s market expansion.
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Global Molecular Diagnostics Market: https://www.insightslice.com/molecular-diagnostics-market
Global Intravenous Solutions Market: https://www.insightslice.com/intravenous-solutions-market
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