Endoscopy Devices Industry: Transforming Medical Diagnostics through Advancements

Endoscopy Devices Industry Data Book - Endoscopes, Endoscopy Visualization System, Endoscopy Visualization Component and Operative Devices Market Size, Share, Trends Analysis and Segment Forecasts, 2023 - 2030

Grand View Research’s endoscopy devices industry data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports and summary presentations on individual areas of research along with an endoscopy devices statistics e-book.

Access the Global Endoscopy Devices Industry Data Book, 2023 to 2030, compiled with details like trade data, pricing intelligence, and competitive benchmarking.

Endoscopes Market Report Highlights

The global Endoscopes Market size was valued at USD 18.7 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 9.0% from 2023 to 2030.

• The flexible product segment held the largest revenue share in 2022 owing to its unique features, such as the ability to reach viscera & cavities, better safety & efficiency, and improved ergonomic features
• In terms of end-use, outpatient facilities accounted for the highest revenue share in 2022 due to the widespread adoption of keyhole or minimally invasive surgeries across these facilities
• North America dominated the market in 2022 owing to various factorsincluding the increasing burden of functional gastrointestinal disorders, improved healthcare infrastructure, and the growing preference for minimally invasive surgeries to curb healthcare spending

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Endoscopy Visualization System Market Report Highlights

The global Endoscopy Visualization System Market size was valued at USD 16.7 billion in 2022 and is expected to grow at compound annual growth rate (CAGR) of 6.8% from 2023 to 2030.

• The growth is attributed to the increasing prevalence of colorectal cancer, gastrointestinal disorders, pancreatic abnormalities, and urological, gynecological, and respiratory issues are likely to drive market expansion.
• Colorectal cancer is the third most prevalent cancer in males and the second most common disease in women, according to the World Cancer Research Fund.
• Furthermore, the WHO predicts that the number of new colon cancer cases will rise from 1.15 million in 2020 to 1.51 million by 2030.

Go through the table of content of Endoscopy Devices Industry Data Book to get a better understanding of the Coverage and Scope of the study

Competitive Landscape

Increasing demand for endoscopy devices is increasing competition in the market and, thus, forcing key players to introduce new products in the market. Additionally, it is projected that rising industry consolidation activities, such as acquisitions and mergers by the leading market participants, as well as expanding efforts in R&D of endoscopy device applications by key players, are also expected to boost the market share. For instance, in April 2021, Medtronic plc announced U.S. FDA de novo clearance for its intelligent endoscopy module, GI Genius, in the U.S.  The module is capable of detecting colorectal polyps by using an AI-powered computer-aided detection system.

Key players operating in the Endoscopy Devices Industry are:

• Karl Storz GmbH & Co. KG
• Smith & Nephew Inc.
• Richard Wolf GmbH
• Medtronic Plc (Covidien)
• PENTAX Medical
• Machida Endoscope Co., Ltd

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. 

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Endoscopy Devices Market Upcoming Trends, Growth Insights, and Revenue Analysis

The global endoscopy devices market is expected to display higher growth rate over the forecast period. Rapid surge in the market is credited to the rising geriatric population and growing prevalence of diseases that requires endoscopy for diagnosis & treatment. Rise in the number of minimally invasive surgeries (MIS) performed each years is expected to drive the growth of the market over the forecast period. Globally, endoscopy devices market is predicted to generate massive revenue over the upcoming years, providing numerous opportunities for industry participants to invest in research and development of endoscopy devices.

Use of endoscopy devices such as laparoscopy, cystoscopy, and bronchoscopy in various medical treatments involving minimally invasive surgeries (MIS) is bolstering market demand in the past few years. Growing preference towards minimally invasive surgeries (MIS) is credited to fewer traumas to patients and quicker recovery. In addition, minimally invasive surgeries (MIS) are increasingly preferred over open invasive surgeries due to their cost-effectiveness. Use of endoscopy devices in minimally invasive surgeries (MIS) offer advantages such as higher patient satisfaction, comparatively lower hospital stay, financial viability, and reduction in post-surgery complications.

Growing prevalence of cancer is considered as the key factors driving the growth of endoscopy devices market over the forecast period. Different endoscopy procedures including laryngoscopy, upper endoscopy, and colonoscopy are considered vital for diagnosis of cancer. Moreover, prevalence of obesity among millennial population and launch of endoscopic bariatric surgeries are projected to escalate industry expansion in the near future. Consumer shift towards preventive healthcare is fueling the demand for bariatric surgeries. Endoscopic approach towards bariatric surgeries is deemed as a secure and cost efficient solution, and ideal alternative to traditional bariatric surgeries.

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The market is broadly categorized into six major segments based on the application type such as bronchoscopy, arthroscopy, laparoscopy, urology endoscopy, neuroendoscopy and gastrointestinal endoscopy. Gastrointestinal endoscopy segment is growing rapidly in the endoscopy devices market with substantial revenue generation in the last few years. Growing popularity of segment is attributed to the rising geriatric population and rising burden of gastro intestinal diseases.

The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in healthcare sector, surge in number of research & development activities and existence of well-established infrastructure in the region. In European region, Germany, France, and United Kingdom are projected to witness steady growth due to the rising awareness related to endoscopy among general public and increasing disposable income.

Asia-Pacific region is estimated to hold a major share in the endoscopy devices industry with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with and significant investment by leading industry players considering potential growth opportunities in the region.

The key players in the endoscopy devices market are Olympus Corp., Fujifilm Holdings Corp., Richard Wolf GmbH, Karl Storz GmbH & Co., KG, HOYA Corp., Boston Scientific Corp., CONMED Corp., Stryker Corp., and Smith & Nephew plc.

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