USD 42.42 billion
Report ID: SQMIG35G2130 | Region: Global | Published Date: February, 2023 | Pages: 157 | Tables: 63 | Figures: 75
Global Endoscopy Equipment and Software Market size was valued at USD 42.42 billion in 2021 and is poised to grow from USD 45.6 billion in 2022 to USD 81 billion by 2030, growing at a CAGR of 7.5% in the forecast period (2023-2030).
Endoscopy involves inserting a long, thin tube into the body through a natural orifice, such as the mouth, to closely examine an internal organ or tissue. It is also capable of other activities like imaging and simple surgery. Endoscopy is thought to be the game-changer for minimally invasive and non-invasive surgery. In the upcoming years, the endoscopy equipment and software market will grow as a result of a number of key factors, including an ageing population with a variety of comorbidities, an increase in gastrointestinal problems, cancer cases, and other chronic diseases, as well as technological advancement.
Additionally, the growing preference among medical professionals for using endoscopy equipment outfitted with technologically advanced cameras and light sources, as well as the expanding interest in and adaptability of various hospitals for endoscopy will drive the growth of the endoscopy equipment and software market in the forecast period.
Additionally, approximately 75% of cancer patients require surgery, according to the Lancet Commission on Global Surgery's report. Due to the unstable medical conditions of cancer patients, there will be a rise in the need for minimally invasive or non-invasive surgery, which will help the endoscopy equipment and software market grow over the coming years.
The usage of disposable endoscopic components to reduce operation costs and the risk of cross-contamination will also fuel market expansion in the ensuing years. During the forecast period, it is anticipated that new FDA approvals, insurance company reimbursement policies for endoscopic surgery, faster recovery times, and fewer postoperative complications would all contribute to market expansion.
Global Market Size
USD 42.42 billion
To get more reports on the above market click here to Buy The Report
Global Endoscopy Equipment and Software Market is segmented based on the product, application and region. Based on product, the market is segmented into endoscopes, visualization systems, software, accessories, and other endoscopy equipment. Based on application, the market is segmented into diagnostics and surgery. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Product
Based on Product, Endoscopes occupied the biggest proportion of the global endoscopic equipment and software market due to benefits such as ease of use, cheap cost, flexibility, real-time monitoring, and minimal risk when compared to procedures. The usage of disposable or single-use endoscopes and a growing inclination for minimally invasive operations also contribute to the increased acceptance of this technology.
Analysis by Application
Based on application, The largest share was held by diagnostics, followed by surgery. The growing older population, increased prevalence of diseases, and improved healthcare infrastructure in emerging nations are all factors that contribute to the large proportion of this market.
To get detailed analysis on other segments, Request For Sample Report
North America held the largest share in the market for endoscopy devices in 2021, owing to reimbursement policies for endoscopic treatments in the US insurance market, an increase in the number of cancer patients, high investments by hospitals to purchase new endoscopic equipment, a strong focus on research to improve endoscopy techniques, and the implementation of a new funding model by Canadian hospitals.
Additionally, due to population growth, an increase in the number of people with chronic diseases, an increase in the number of people with gastrointestinal disorders, and improvements in healthcare facilities, Asia-Pacific is predicted to experience the largest growth over the next several years.
The endoscopy devices market in Europe is predicted to grow significantly in the future years due to technological advancements in endoscopes that may be used to detect diseases, as well as a growth in the number of disorders that require endoscopic equipment. The use of innovative and sophisticated endoscopic tools, such as capsule endoscopes, robot-assisted endoscopy, and ultra-high-definition visualisation systems, is another factor that is anticipated to contribute to the growth of the endoscopy equipment and software market in the years to come.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Rise of Minimally Invasive Surgeries to Boost Market Growth
Lack of Skilled Specialist to Hinder Market Growth
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
Global endoscopy equipment and software market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Top Player's Company Profiles
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 utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our endoscopy equipment and software market analysis, in terms of product, the Endoscopes segment held a larger market share owing to its easy usage. And in terms of application, the diagnostics segment contributed to market growth due to high preference. Moreover, rise in the requirement for endoscopy to diagnose and treat target diseases are the drivers for market growth.
|Market size value in 2021||USD 42.42 billion|
|Market size value in 2030||USD 45.6 billion|
|Forecast Unit (Value)||USD Billion|
|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)|
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
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Endoscopy Equipment and Software 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 Equipment and Software 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.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Endoscopy Equipment and Software Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Endoscopy Equipment and Software 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.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.