“The growth of the global endoscopy devices market is majorly attributable to rise in prevalence of gastrointestinal and pulmonary diseases. In addition, increase in adoption of innovative endoscopy devices such as capsule endoscopes and robot-assisted endoscopy along with ultra-high-definition visualization systems is anticipated to boost the market growth in the coming years.”
The global endoscopy devices market fostered $30.01 billion in 2018 and is projected to garner $45.39 billion by 2026, growing at a CAGR of 5.4% from 2019 to 2026. The report offers a detailed analysis of the key segments, top investment pockets, changing dynamics, market size & estimations, and competitive scenario.
The surge in prevalence rate of diseases that require endoscopy devices, technological advancements, and growth in patient preference for minimally invasive surgeries are the major factors that drive the growth of the global endoscopy devices market. Furthermore, less recovery time and nominal postoperative complications, and favorable FDA approvals and reimbursement policies in developed countries supplement the market growth. On the other hand, the scarcity of trained physicians and endoscopies and infections due to few endoscopes hamper the market growth. However, emerging economies to offer lucrative opportunities and unmet medical demands in developing countries provide lucrative opportunities for the market.
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On the basis of the product type, the market is bifurcated into endoscopes, visualization & documentation systems, mechanical endoscopy equipment, accessories, and others. The endoscopes segment held the highest position accounting for more than one-third of the total market share in 2018 and is expected to dominate throughout the forecast period. However, the accessories segment is estimated to project the fastest CAGR of 8.2% from 2019 to 2026.
On the basis of hygiene, single-use, reprocessing, and sterilization. The reprocessing segment held the largest revenue, contributing nearly half of the total market share in 2018 and will maintain its dominance throughout the forecast period. However, the single-use segment is estimated to register the highest CAGR of 6.2% from 2019 to 2026.
On the basis of region, North America held more than one-third of the total market share in 2018 and will maintain its dominance throughout the forecast period. However, the Asia-Pacific region is estimated to register the highest CAGR of 6.4% from 2019 to 2026. The report also includes analysis of other regions including Europe and LAMEA.
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Major players operating in the market include HOYA Corporation, Olympus Corporation, Stryker Corporation, Boston Scientific Corporation, Fujifilm Holdings Corporation, CONMED Corporation, Medtronic Plc, Karl Storz GmbH & Co. KG, Smith & Nephew, Plc, Johnson & Johnson, and Medrobotics Corporation.
Key Findings of the Endoscopy Devices Market:
- Based on product, the endoscope segment was the major revenue contributor in 2018, and is anticipated to continue this trend during the forecast period.
- Depending on hygiene, the single-use segment is expected to exhibit the highest CAGR with 6.2% during the forecast period.
- By application, the laparoscopy segment was the largest revenue contributor in 2018, and expected to continue this trend from 2019 to 2028.
- U.S. generated the highest revenue in the global endoscopy devices market in 2018, accounting more than one-third of the global market in 2018.
- Asia-Pacific is anticipated to grow at a highest CAGR during the forecast period.
Scope of the Report:
|Market size available for years||2018-2026|
|Base year considered||2019|
|Forecast units||Value (USD)|
|Segments covered||Product Type, Hygiene, Application, End User|
|Geographies covered||North America, Europe, Asia-Pacific, LAMEA|
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