Product ID: SQMIG35A2538
Global Flexible Endoscopes Market Size, Share, Growth Analysis, By Type(Laparoscopes, Arthroscopes), By End-Use(Hospitals and Outpatient Facilities) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2538 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|
Tables:
75 |
Figures:
75
Global Flexible Endoscopes Market Insights
Global Flexible Endoscopes Market size was valued at USD 8.96 Billion in 2022 and is poised to grow from USD 9.64 Billion in 2023 to USD 17.32 Billion by 2031, at a 7.6% during the forecast period (2024-2031).
There is a growing demand for different types of endoscopes and endoscopic equipment in surgical interventions such as cystoscopy, a bronchi arthroscopy, & laparoscopic due to the increased use of less invasive surgical techniques. Numerous factors, including economic effectiveness, improved patient satisfaction, shorter stays in the hospital, and fewer postoperative problems, have contributed to the move from standard procedures to less invasive ones.
The COVID-19 pandemic had a substantial influence on a number of businesses, including the medical one. Treatment protocols and healthcare services were interrupted, and there were issues with the supply chain for medical devices. The market was also impacted by a decline in demand for new endoscopes as a result of hospitals offering fewer endoscopic services as a result of COVID-19-related emergencies on medical personnel. According to a report from the Guidelines for Robotics Flexible Endoscopic at the Time of COVID-19 in 2021, the pandemic dramatically reduced the number of endoscopic procedures, and only urgent cases were taken into consideration.
The market is additionally impacted by factors including the rising prevalence of chronic diseases that affect the internal body systems, the benefits of flexible endoscopes over other devices, and the rising demand for early detection of these disorders. These tools are necessary for the identification of inflammatory bowel illnesses (IBD), stomach and colon malignancies, respiratory infections, and tumors, among other conditions. The rising prevalence of these disorders has consequently increased demand for such flexible devices. For instance, according to the American Disease Society, Inc., there will be approximately 26,380 new instances of stomach cancer in the United States in 2022 (15,900 cases in men and 10,480 cases in women), along with 106,180 cases of colon cancer with 44,850 cases of cancer of the rectal.
The demand for the use of flexible endoscopes is being driven by the increasing prevalence and incidence of chronic diseases in the U.S., including lung cancer and a condition called irritable bowel syndrome. For instance, according to the American Lung Association, 236,000 Americans will be diagnosed with lung cancer in 2021, and according to the American College of Gastroenterology, 10-15% of individuals in the nation experience symptoms of irritable bowel syndrome. The usage of flexible endoscopes is also growing as a result of their advantages over other varieties, with optical fiber being especially useful due to its flexibility and wide range of applications.
Endoscopes are growing more frequently used for therapeutic and diagnostic purposes as a result of the minimally invasive surgery (MIS) trend. Despite this expansion, the sector is constrained by onerous regulatory standards for flexible endoscopes. Because endoscopies are becoming more common and are minimally invasive, the market is anticipated to expand overall.
US Flexible Endoscopes Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Flexible Endoscopes Market Report Snapshots
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