Global Endoscopy Video Systems Market Poised for Significant Growth, Projected to Reach USD 45.65 Billion by 2032 to Grow at a CAGR of 6.6%
The global endoscopy video systems market is set to witness substantial growth, with a forecasted compound annual growth rate (CAGR) of 6.6% from 2022 to 2032. The market, which stood at USD 24.09 billion in 2022, is projected to reach an estimated USD 45.65 billion by 2032. This growth reflects increasing demand for advanced medical imaging technologies, as healthcare providers prioritize higher image and video quality during endoscopic procedures.
These video systems offer enhanced options to patients suffering from gastrointestinal conditions, pancreatic issues, and urological, gynecological, and respiratory disorders. Thus, an upsurge in the prevalence of these medical conditions drives the demand for endoscopy video systems. Again, certain medical trends such as surging transplantation cases as well as the heightened demand for stem cell banking also spur the demand for this market.
The increasing prevalence of colorectal cancer, pancreatic abnormalities, gastrointestinal disorders, urological and gynecological issues, and respiratory conditions propel the demand for the endoscopy video system. Colorectal cancer is the second most common cancer in women and the third most common cancer in men. This aspect augments the global sales of endoscopy video systems. Moreover, the growing need for endoscopic procedures will fuel market growth. The rising elderly population also amplifies the number of patients needing endoscopic operations which will bode well for the overall market growth. As more and more patients- along with clinicians- become aware of the use and attributes of modern endoscopic technologies, the market for endoscopy video systems will also grow.
Endoscopy video systems offer a faster recovery time and a minimally invasive medical procedure. The rising awareness of such attributes of these video systems among patients and physicians will encourage market growth for endoscopy video systems. A surge in orthopedic and ophthalmic conditions will also spur the demand for these video systems.
The rapid development of technology has enhanced imaging capacities which, in turn, drives the demand for endoscopy video systems. Additionally, growing research and development efforts by key market participants to introduce innovative endoscopy video systems and constant product development activities by the same augurs well for the international endoscopy video system market.
Key Takeaways:
- North America will continue to dominate the endoscopy video system market owing to a surge in colorectal cancer cases.
- Europe’s endoscopy video system market will also present steady growth in revenue due to the rising elderly population.
- By product type, the endoscopic visualization systems segment accounted for the highest revenue share of 71.5% in 2020 and will continue to grow at a steady rate over the forecast period.
Accelerated Market Demand: Find Comprehensive Insights and Trends in Our Full Report!
Competitive Landscape
Olympus, BR Surgical, Stryker Corporation, FujiFilm Global, CONMED Corporation, and Mindary, among others, are a few of the dominant players in the endoscopy video systems market profiled in the full version of the report.
In a competitive and fragmented environment, significant market players are focusing on product development and innovation so as to produce efficient endoscopy video systems. These businesses invest in research and development activities to seek out novel processes and technologies. A few of these participants also engage in mergers, acquisitions, joint ventures, collaborations, and partnerships to gain a competitive advantage.
More Insights Into Endoscopy Video Systems Market
FMI offers an unbiased analysis of the global endoscopy video systems market in its latest report, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032. The report offers a ten-year sales prospect and a complete breakdown of market drivers, restraints, trends, and opportunities. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type, end-user, application, and region.
According to FMI, based on segmentation, the endoscopic visualization systems will exhibit significant growth during this period of observation. The rising aging population and increasing endoscopic operations across the globe are responsible for the demonstrated growth of the segment. Based on region, the endoscopy video system market in North America will exhibit considerable growth. The target market in this region will account for a sizeable portion of the global revenue. Increasing cases of stomach and colorectal cancer, advancing medical technology, and the presence of key players will drive the endoscopy video system market in North America. Europe and East Asia will also aid the expansion of the global endoscopy video system market.
Key Players
- Olympus
- BR Surgical
- Stryker Corporation
- Mindary
- Fujifilm Global
- Boston Scientific
- Medtronic
- Smith & Nephew plc.
- Richard Wolf GmBH
- CONMED Corporation
- B.Braun Melsungen
Key Segments Covered in the Endoscopy Video Systems Market Report
By Product:
- Endoscopic Video Systems
- Standard Definition (SD) Visualization Systems
- 2D Systems
- 3D Systems
- High Definition (HD) Visualization Systems
- 2D Systems
- 3D Systems
- Standard Definition (SD) Visualization Systems
- Endoscopy Video Components
- Camera Heads
- Insufflators
- Light Sources
- High Definition Monitors
- Suction Pumps
- Video Processors
By Application:
- Upper GI Endoscopy
- Colonoscopy
- Bronchoscopy
- Sigmoidoscopy
- ENT Endoscopy
- Others
By End User:
- Hospitals
- Specialty Clinics
- Diagnostic Imaging Centers
- Ambulatory Surgical Centers
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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