Endoscopy Visualization Systems Industry Overview
The global endoscopy visualization systems market size was valued at USD 21.5 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.0% from 2021 to 2028. Endoscopy is a minimally invasive procedure used for the examination of the internal organs in the body. Visualization systems with advanced technologies can provide superior image quality, which makes them very important in the medical field. In recent years, endoscopic procedures have emerged as a potential adjunctive tool in various medical specialties such as general surgery, gastrointestinal, urology, and others. According to the Centers for Disease Control and Prevention, around 494,000 hysterectomies are performed in the U.S. annually. Approximately 80.0% of the surgeries are done laparoscopically or robotically. Thus, shift towards minimally invasive surgeries and increasing prevalence of cancer, thereby fueling the market growth.
The rising prevalence of diseases including colorectal cancer, gastrointestinal disorders, pancreatic abnormalities, urological, gynecological, and respiratory problems is expected to fuel the growth of the market. As per the World Cancer Research Fund, colorectal cancer is the 3rd most common cancer in men and 2nd most common cancer among women. Furthermore, according to the WHO, the number of new colon cancer cases is projected to increase from 1.15 million in 2020 to 1.51 million by 2030. This is anticipated to favor the demand for endoscopy procedures in the coming years. Apart from this, the increasing geriatric population adds to the patient population requiring endoscopic procedures. As per the estimate of the United Nations, the number of people aged 65 years and above is expected to reach from 703 million in 2019 to 1.5 billion by 2050. This is projected to drive the market for endoscopy visualization systems over the forecast period.
Gather more insights about the market drivers, restraints and growth of the Global Endoscopy Visualization Systems market
Endoscopic procedures offer various advantages over open invasive surgeries. These procedures are associated with reduced recovery time, reduced hospital stay, less complication, lower cost, and smaller incisions resulting in better clinical outcomes. Owing to this, the adoption of minimally invasive endoscopy is increasing. According to an article published in the Gastrointestinal Endoscopy, an official publication of the American Society for Gastrointestinal Endoscopy, over 17.7 million endoscopic procedures are performed in the U.S. annually. This accounts for 5.6% of the U.S. population. Thus, a significant increase in the number of minimally invasive endoscopic procedures coupled with the rising cost burden of cancer is anticipated to favor the growth of the market for endoscopy visualization systems. Furthermore, active government support to promote less invasive surgeries in outpatient settings is likely to propel the growth of the market.
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Endoscopy Visualization Systems Industry Segmentation
Grand View Research has segmented the global endoscopy visualization systems market on the basis of product type, resolution type, and region.
Endoscopy Visualization Systems Product Type Outlook (Revenue, USD Million, 2014 - 2028)
- Endoscopic Visualization Systems
- Endoscopy Visualization Components
Endoscopy Visualization Systems Resolution Type Outlook (Revenue, USD Million, 2014 - 2028)
- 4K
- FHD Resolution
Endoscopy Visualization Systems Regional Outlook (Revenue, USD Million, 2014 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Key Companies profiled:
Some prominent players in the global Endoscopy Visualization Systems Industry include
- Olympus Corporation
- Stryker Corporation
- Boston Scientific Corporation
- Ethicon US, LLC,
- Machida Endoscope Co., Ltd.
- Richard Wolf GmbH
- Medtronic
- Smith & Nephew plc
- CONMED Corporation
- PENTAX Medical
- FUJIFILM Holdings Corporation
- Karl Storz GmbH & Co. KG
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