Endoscopy Devices Industry Data Book Covers Endoscopes, Endoscopy Visualization System, Endoscopy Visualization Component, and Operative Devices Market
The global Endoscopy Devices industry generated over USD 50.8 billion in 2022 and is expected to grow at a CAGR of 7.5% over the forecast period.
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 market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Endoscopes Market Growth & Trends
The global endoscopes market size is expected to reach USD 27.9 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.0% from 2023 to 2030. Growing awareness levels about minimally invasive surgical procedures and the increasing prevalence of chronic disorders are the major factors accelerating the market growth. The benefits, such as less surgery-related blood loss, no muscle cutting, quicker recovery, offered by minimally invasive surgeries boost the adoption of endoscopic procedures over traditional/open invasive surgeries. In addition, advancement in endoscopic technology and rapid increase of its application to diagnose and treat various diseases are other key factors anticipated to propel the market growth over the forecast years. The flexible endoscopes product segment dominated the market in 2021.
This is attributed to the high demand for these devices on account of their unique features, such as the ability to reach viscera and cavities, better safety and efficiency, and improved ergonomic features. These devices are most commonly used in several endoscopic procedures, such as esophagogast roduodenoscopy (OGD), bronchoscopy, sigmoidoscopy, laryngoscopy, pharyngoscopy, nasopharyngoscopy, rhinoscopy, and colonoscopy procedures, which supports the product demand and segment growth.Based on application, in 2021, the Gastrointestinal (GI) endoscopy segment dominated the market owing to an increase in gastrointestinal disorders and a high preference for minimally invasive procedures. High volumes of GI endoscopic procedures and the availability of technologically advanced endoscopes to treat &diagnose functional gastrointestinal disorders are also driving the segment.
In 2021, the hospitals end-use segment dominated the market owing to favorable reimbursement policies and growing utilization of endoscopes in hospital systems. Furthermore, a larger number of endoscopic procedures is performed in hospital settings as compared to other healthcare systems, which boosts the segment growth.In addition, North America accounted for the highest revenue share in 2021 owing to its better healthcare infrastructure, high preference for minimally invasive surgical procedures among individuals, and quickadoption of advanced technologies. The increasing burden of functional gastrointestinal disorders and cancer is anticipated to further propel market growth in this region. For instance, as per the data reported by the National Cancer Institute, in 2020, over 1.8 million new cancer cases were estimated to be diagnosed in the U.S.
The overall decrease in the number of surgical procedures during COVID-19, in turn, impacted the growth of the market. Furthermore, to reduce the COVID-19 transmission risk, endoscopy centers have postponed and canceled the semi-urgent and elective cases, which affected the endoscopy procedure adoption in 2020.In addition, supply chain interruptions due to constant lockdown and shutdown imposed by the governments of top countries all over the globe also hampered the market growth in 2020. For instance, a study published in the Arab Journal of Gastroenterology in 2020stated that the endoscopy procedures volume decreased about 50% due to the COVID-19 pandemic in the majority of countries.
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Operative Devices Market Growth & Trends
The global operative devices market was valued at USD 8.6 Billion in 2022 and is anticipated to grow at a CAGR of 5.7% over the forecast period. The growth is attributed to the growing demand for endoscopic operative devices for diagnostic and therapeutic processes, combined with the rising prevalence of age-related diseases globally, which is driving the market expansion. These devices are crucial in identifying and treating disorders since they allow minimum intervention and a faster recovery time. Endoscopic operations are widely preferred for the treatment of gallstones, liver abscesses, pelvic abscesses, intestinal perforation, and endometriosis across the globe.
The increasing number of healthcare facilities, including cancer centers, endoscopy centers, hospitals, oncology specialized clinics, and diagnostic centers, is increasing demand for endoscopes and operating devices, which is anticipated to fuel the market growth over the forecast period. Additionally, healthcare infrastructure in both developed and developing nations continue to upgrade to meet the growing demand for diagnostic and therapeutic operations across the globe coupled with the advent of technologically advanced techniques for the diagnosis and management of digestive disorders, such as capsule endoscopy, is projected to propel the market growth.
Competitive Landscape
Key players operating in the Endoscopy Devices industry are:
- Olympus Corporation
- Ethicon Endo-Surgery, LLC
- Stryker
- Fujifilm Holdings Corporation
- Boston Scientific Corporation
Grand View Research’s Endoscopy Devices Industry data book is a collection of market sizing information & forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.
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