Global Endoscope Market

Global Endoscope Market Size, Share, Growth Analysis, By Application(Disposable, Flexible) - Industry Forecast 2024-2031

Report ID: SQMIG35A2170 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 36 | Figures: 74

Global Endoscope Market News

  • In September 2022, Harvard Medical school researchers developed a long flexible GRIN lenses to create bendable endoscopic imaging probe. GRIN lenses are used to perform fluorescence microscopy approaches that can image deep into tissues, however they are rigid components. The new bendable probe can help in new approaches that use imaging to dynamically monitor tissue changes.
  • In September 2022, Endolux a U.S. based endoscopic video imaging organization has collaborated with Synopics to develop Endolux Visualization system (EVS). The Endolux EVS is industry leading endoscopic visualization technology with embedded artificial intelligence.
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FAQs

Endoscope Market size was valued at USD 12.4 billion in 2019 and is poised to grow from USD 13.6 billion in 2023 to USD 27.9 billion by 2031, growing at a CAGR of 9.4% in the forecast period (2024-2031).

The global endoscope market has high competition due to the presence of prominent players who apply various strategies to expand their market share and dominate the market. Some key players include Olympus Corporation, KARL STORZ SE & Co. KG, Stryker Corporation, Boston Scientific Corporation, JOHNSON & JOHNSON, and Fujifilm Holdings Corporation. The market's leading players are looking forward to increasing their investments in the creation of advanced devices and fulfill the increasing demand for endoscopy devices. 'Olympus Corporation', 'Fujifilm Holdings Corporation', 'Karl Storz SE & Co. KG', 'Stryker Corporation', 'Boston Scientific Corporation', 'Pentax Medical (Hoya Corporation)', 'Richard Wolf GmbH', 'Smith & Nephew plc', 'Medtronic plc', 'CONMED Corporation', 'Arthrex, Inc.', 'B. Braun Melsungen AG', 'Cook Medical (Cook Group Inc.)', 'Hologic, Inc.', 'Johnson & Johnson (Ethicon US, LLC)', 'Teleflex Incorporated', 'Ambu A/S', 'Möller Medical GmbH', 'Sunoptic Technologies', 'Vimex Endoscopy'

Surge in the prevalence of chronic disorders and the increasing awareness regarding early diagnosis of diseases through minimally invasive surgical techniques are the key drivers expected to propel the market growth.

Artificial intelligence is expected to boost the adoption of capsule endoscopy. The incorporation of several technological advancements into capsule endoscopy to improve reading efficiency, accuracy, and diagnostic capabilities is projected to fuel market growth.

North America accounted for the largest share of the global endoscope market and is expected to maintain its dominance during the forecast period. It accounted for more than 41% share of the total revenue worldwide. This can be attributed to the rising elderly population, increased healthcare spending, and growing use of elective endoscopic treatments. Intensification of preventive healthcare initiatives, appearance of highly advanced healthcare organisations, and supportive reimbursement environments are driving the market expansion in this region. Over the course of the forecast period, it is also projected that the increasing prevalence of cancer and functional gastrointestinal disorders in the U.S. will further propel the market growth. Moreover, the American Cancer society also predicted that 1.9 million new cancer patients will be diagnosed in 2021 in U.S. These factors will drive the market growth in this region.

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