USD 46.7 billion
Global Endoscopy Devices Market Size, Share, Growth Analysis, By Type(Flexible Endoscopes and Rigid Endoscopes), By Application(Gastroenterology and Pulmonology) - Industry Forecast 2024-2031
Report ID:
SQMIG35B2089 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|
Tables:
59 |
Figures:
75
Global Endoscopy Devices Market Insights
Global Endoscopy Devices Market size was valued at USD 46.7 billion in 2022 and is poised to grow from USD 50.25 billion in 2023 to USD 90.29 billion by 2031, growing at a CAGR of 7.6% during the forecast period (2024-2031).
The market for endoscopy devices is expected to experience significant growth in the foreseeable future due to several key factors. One of the primary drivers is the less invasive nature of these devices, coupled with their affordability in terms of pre and post-procedure costs. Additionally, there is a growing trend towards using disposable endoscopic components to reduce procedure costs and minimize the risk of cross-contamination, which is anticipated to further accelerate market growth. The increasing burden of chronic diseases and the rising geriatric population worldwide also contribute to the adoption of endoscopic devices. Various medical conditions associated with the elderly, such as liver abscess, gall stones, endometriosis, and intestinal perforation, often require endoscopic interventions, thereby driving the demand for endoscopy devices. For example, the Administration on Aging (AoA) of the U.S. Department of Health and Human Services reported that the population aged above 65 years was 16% in 2019 and is expected to reach 21.6% by 2040. Moreover, medical professionals are increasingly preferring technologically advanced endoscopy devices equipped with high-definition cameras and light sources to facilitate accurate analysis of internal organs. The shift towards minimally invasive surgical procedures over traditional surgeries, aiming to reduce hospital stays and post-procedure complications, is another significant factor fueling the demand for endoscopy devices. These factors contribute to higher patient satisfaction, improved economic viability, and reduced hospital stays, thereby driving the demand for minimally invasive endoscopic interventions. Furthermore, the growing burden of cancer globally is leading to increased adoption of endoscopy devices for early diagnosis and treatment. Biopsies, in particular, have gained preference for cancer detection and diagnosis, further propelling the demand for endoscopic devices. Technological advancements in developing innovative endoscopic solutions are also expected to drive market growth. Key manufacturers are continually striving to introduce advanced endoscopic devices for improved treatment and diagnosis of chronic disorders. For instance, Fujifilm Holdings Corporation launched the ELUXEO 7000X endoscopic Imaging System in August 2021, which allows real-time visualization of hemoglobin oxygen saturation levels in tissue during laparoscopic and endoluminal imaging procedures.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Flexible Endoscopes
Fastest Growth
Flexible Endoscopes
Growth Rate
7.6% CAGR
Global Endoscopy Devices Market 2021-2030 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Endoscopy Devices Market Size By Type 2021-2030 ($ Bn)
Global Endoscopy Devices Market Size By Type 2021-2030 (%)
To get more reports on the above market click here to Buy The Report
Global Endoscopy Devices Market Segmental Analysis
Global Endoscopy Devices market is segmented by type, Application, and region. Based on type, the market can be segmented into flexible endoscopes and rigid endoscopes. Based on Application, the market is segmented into gastroenterology and pulmonology. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Global Endoscopy Devices Market Analysis by Type
By type, the market can be segmented into flexible endoscopes and rigid endoscopes. Flexible endoscopes dominated the market due to their ease of use, high precision, and patient comfort. These devices are widely used for diagnostic and therapeutic purposes in various medical specialties, such as gastroenterology, pulmonology, urology, gynecology, and others. The demand for flexible endoscopes is also being driven by the rising prevalence of chronic diseases and the rising demand for minimally invasive surgical procedures.
On the other hand, rigid endoscopes are expected to be the fastest-growing segment in the coming years. These devices are widely used for surgical procedures, such as laparoscopy, arthroscopy, and others, as they provide high-resolution images and better control to surgeons. The growing demand for minimally invasive surgical procedures and the increasing adoption of robotic-assisted surgeries are driving the demand for rigid endoscopes. In addition, technological advancements, such as the development of smaller and more versatile rigid endoscopes, are further fueling the growth of this segment.
Global Endoscopy Devices Market Analysis by Application
By Application, the market can be segmented into gastroenterology and pulmonology. Gastroenterology dominated the market due to the high incidence of digestive disorders and the increasing demand for minimally invasive surgical procedures. Endoscopes are widely used for diagnostic and therapeutic purposes in gastroenterology, such as to visualize and treat ulcers, tumors, inflammatory bowel disease, and other gastrointestinal disorders. In addition, the growing prevalence of chronic diseases, such as obesity and diabetes, is further driving the demand for gastroenterology endoscopes.
Pulmonology is expected to be the fastest-growing segment in the coming years. Endoscopes are increasingly being used for diagnostic and therapeutic purposes in pulmonology, such as to visualize and treat lung cancer, chronic obstructive pulmonary disease (COPD), and other respiratory disorders. The demand for pulmonology endoscopes is being driven by an increase in the prevalence of respiratory conditions like asthma and COPD. The growth of this market is also being aided by technological developments like the creation of portable endoscopes and high-resolution imaging systems.
Global Endoscopy Devices Market Size By Type, 2021 (%), 2023 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Global Endoscopy Devices Market Regional Insights
North America dominated the global endoscopy devices market. The region's dominance can be attributed to several factors. Firstly, the well-established healthcare infrastructure and high healthcare expenditure in countries like the United States and Canada contribute to the widespread adoption of advanced medical technologies, including endoscopy devices. Additionally, favorable reimbursement policies and a high level of awareness among healthcare professionals and patients further drive the market growth.
The Asia-Pacific region is expected to witness the fastest growth in the global endoscopy devices market during the forecast period. The region offers immense growth opportunities due to several factors. Firstly, the rising healthcare expenditure and increased focus on improving healthcare infrastructure in countries like China, India, and Japan are driving the market growth. The growing middle-class population with increasing disposable income and rising awareness about advanced medical technologies also contribute to the market expansion.
Global Endoscopy Devices Market By Geography, 2021-2030, 2024-2031
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Global Endoscopy Devices Market Dynamics
Global Endoscopy Devices Market Drivers
Increasing prevalence of chronic diseases
- One significant driver fueling the growth of the global endoscopy devices market is the increasing prevalence of chronic diseases, such as gastrointestinal disorders and cancer. The rising burden of these diseases worldwide creates a higher demand for endoscopy devices for early diagnosis, treatment, and management. This driver is propelled by factors such as changing lifestyle patterns, aging populations, and the need for minimally invasive procedures, highlighting the importance of endoscopy devices in addressing the growing healthcare challenges.
Global Endoscopy Devices Market Restraints
High cost associated with these devices and their procedures
- A key restraint for the global endoscopy devices market is the high cost associated with these devices and their procedures. The initial investment required for acquiring endoscopy equipment and the ongoing expenses for maintenance and disposables can be significant. This can limit the affordability and accessibility of endoscopy services, especially in developing regions with constrained healthcare budgets. Additionally, reimbursement limitations and insurance coverage gaps for endoscopic procedures pose financial barriers for patients and healthcare providers, hindering market growth to some extent.
Request Free Customization of this report to help us to meet your business objectives.
Global Endoscopy Devices Market Competitive Landscape
The global endoscopy devices market is characterized by intense competition among several prominent players. These companies focus on continuous research and development activities to introduce innovative products and gain a competitive edge. Market participants also emphasize strategic collaborations, partnerships, and mergers to expand their market presence and distribution networks. Additionally, companies invest in enhancing their manufacturing capabilities and maintaining stringent quality standards to ensure product efficacy and reliability. Moreover, the market is witnessing increased competition due to the entry of new players, further intensifying the competitive dynamics within the industry.
Top Player’s Company Profiles in Global Endoscopy Devices Market
- Medtronic (US)
- Johnson & Johnson (US)
- Olympus Corporation (Japan)
- Fujifilm Holdings Corporation (Japan)
- Stryker Corporation (US)
- Karl Storz SE & Co. KG (Germany)
- Boston Scientific Corporation (US)
- Cook Medical (US)
- Smith & Nephew plc (UK)
- Hoya Corporation (Japan)
- CONMED Corporation (US)
- Pentax Medical (Japan)
- Richard Wolf GmbH (Germany)
- B. Braun Melsungen AG (Germany)
- Olympus Medical Systems Corp. (Japan)
- Fujifilm Medical Systems USA, Inc. (US)
- Medtronic plc (Ireland)
- KARL STORZ Endoscopy-America, Inc. (US)
- Arthrex, Inc. (US)
- Ethicon, Inc. (US)
Global Endoscopy Devices Market Recent Developments
-
Olympus Corporation introduced the EVIS X1, a cutting-edge endoscopic system, to the Chinese market in November 2023. The endoscopy equipment was on display at the 6th China International Import Expo, which took place in Shanghai from November 5–10.
-
Olympus Corporation announced the release of its cutting-edge EVIS X1 endoscopic system to the public in October 2023. Innovative technologies designed to improve GI tract visualization are purposefully created to provide doctors greater power, giving them the ability to see a wider picture and grow their skills for the betterment of their patients.
- In April 2023, Boston Scientific Corporation announced a strategic partnership with Sanofi SA to develop innovative medical devices for the treatment of cardiovascular diseases.
Global Endoscopy Devices Key Market Trends
- One prominent trend in the global endoscopy devices market is the increasing adoption of robotic-assisted endoscopy procedures. Robotic technology offers enhanced precision, dexterity, and visualization during endoscopic interventions, enabling surgeons to perform complex procedures with greater accuracy. The use of robotic systems also allows for smaller incisions, reduced tissue trauma, and faster patient recovery. As a result, the demand for robotic-assisted endoscopy is growing, as healthcare providers seek to improve patient outcomes and expand the capabilities of minimally invasive procedures. This trend is expected to continue driving advancements in endoscopy technology and shaping the future of the market.
Global Endoscopy Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to the global endoscopy devices market analysis, the market is poised for substantial growth in the coming years, driven by various factors. The market is benefiting from the advantages offered by endoscopy devices, such as their less invasive nature, affordability, and the trend of using disposable components to minimize costs and cross-contamination risks. Additionally, the rising burden of chronic diseases and the increasing geriatric population worldwide are fueling the adoption of endoscopy devices. Technological advancements, including high-definition cameras and robotic-assisted procedures, further propel market growth. North America dominated the global market attributed to well-established healthcare infrastructure and high healthcare expenditure, while the Asia-Pacific region is experiencing the fastest growth due to increasing healthcare expenditure, rising burden of chronic diseases, and improving healthcare infrastructure. Despite the positive outlook, challenges such as high costs and reimbursement limitations pose restraints. Overall, the market is characterized by intense competition among key players, who strive to innovate and collaborate to expand their market presence.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 46.7 billion |
| Market size value in 2031 | USD 90.29 billion |
| Growth Rate | 7.6% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Endoscopy Devices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Endoscopy Devices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Endoscopy Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Endoscopy Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Endoscopy Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Endoscopy Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Endoscopy Devices Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
