What is the global market size of Endoscopy Equipment and Software Market?

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 Equipment and Software Market Size

Endoscopy Equipment and Software Market Insights

Global Endoscopy Equipment and Software Market size was valued at USD 45.6 billion in 2023 and is poised to grow from USD 49.02 billion in 2024 to USD 87.43 billion by 2032, growing at a CAGR of 7.5% during the forecast period (2025-2032).

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.

US Endoscopy Equipment and Software Market is poised to grow at a sustainable CAGR for the next forecast year.

FAQs

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. 'Olympus Corporation (Japan) ', 'Boston Scientific Corporation (United States) ', 'Medtronic plc (Ireland) ', 'Johnson & Johnson (Ethicon Inc.) (United States) ', 'KARL STORZ SE & Co. KG (Germany) ', 'Fujifilm Holdings Corporation (Japan) ', 'Stryker Corporation (United States) ', 'HOYA Corporation (PENTAX Medical) (Japan) ', 'Smith & Nephew plc (United Kingdom) ', 'Cook Medical Inc. (United States) ', 'Ambu A/S (Denmark) ', 'Richard Wolf GmbH (Germany) ', 'STERIS plc (United States) ', 'Mauna Kea Technologies (France) ', 'EndoChoice Holdings Inc. (United States) ', 'NeoScope Inc. (United States) ', 'Machida Endoscope Co. Ltd. (Japan) ', 'Aohua Medical Technology Co. Ltd. (China) ', 'Interscope Inc. (United States)'

Endoscopic surgery is more advantageous due to the benefits like reduced pain, quicker recovery times, short or no hospital stays, less postoperative issues, and less complications during surgery, which will boost the market in the upcoming years. The demand for endoscopy is also increasing as more insurance companies in major and developing nations like the US, UK, India, Australia, Germany, Canada, and others are recognising the benefits of endoscopic surgery. This will ultimately help the market grow in the future. The demand for endoscopy equipment and software will rise in the forecast period due to the growing use of endoscopy to detect diseases like cancer, orthopaedic diseases, neurological diseases, gastrointestinal problems, and gastroesophageal reflux disorder (GERD) as well as target diseases, including cancer, neurodegenerative, infectious, immune, metabolic, and cardiovascular diseases.

The market is driven by the growing inclination of medical professionals for using technologically enhanced endoscopic devices outfitted with a high-definition camera and light sources to assist doctors in analysing interior organs of interest. The primary drivers projected to drive the demand for endoscopic equipment are the shift in preference toward minimally invasive surgical techniques over standard surgeries to shorten hospital stay and minimise post-procedure problems. Therefore, it is anticipated that factors including greater patient satisfaction, enhanced economic viability, and shorter hospital stays would increase the demand for minimally invasive endoscopic procedures in the years to come, fueling the market's expansion.

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.