The Endoscopy Devices Market revenues were estimated at US$ 44.8 Bn in 2021 and is anticipated to grow at a CAGR of 9.0% from 2022-2032, according to a recently published Fact.MR report. By the end of 2032, the market is expected to reach US$ 113.8 Bn. GI Endoscopy being the prominent application accounts for an absolute dollar opportunity of US$ 42 Bn during 2022 – 2032.
The key reasons driving the market’s growth include a growing inclination for less intrusive procedures, higher adoption of endoscopes for treatment and diagnostics, and technological advancements resulting in improved applications. The expanding requirement for endoscopic devices in therapeutic and diagnostic procedures, as well as the increased prevalence of age-related illnesses, are some of the factors driving market growth. With the constant surge in global geriatric population, medical conditions requiring endoscopic intervention, such as pelvic abscess, liver abscess, endometriosis, gall stones, and intestinal perforation, have become more common. These factors have been necessitating the demand for endoscopy devices.
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Key Takeaways from the Market Study
- Global Endoscopy Devices Market is expected to reach a market size of US$ 48.5 Bn by 2022.
- The Gastrointestinal (GI) Endoscopy segment, is expected to have the highest CAGR rate of 10.0% during the forecast period.
- United states projected to remain the most dominant country with absolute dollar growth opportunity of US$ 20.4 Bn.
- The market in Japan is expected to experience the highest CAGR of 12.7% during the 2022-2032 forecast period.
“Endoscopy allows for surgeries on more vulnerable patients, such as the elderly, as well as treatment of more difficult conditions, such as cancer. Endoscopy has a number of advantages, including reduced post-operative pain and complications, a faster recovery, a lighter anesthetic, and a shorter hospital stay.” comments a Fact.MR analyst.
Which Country Lies at the CenterStage for Endoscopy Devices Market Revenue?
The United States is estimated to account for the highest global market share of 34.5% in 2022. The market is expanding due to an increasing variety of treatments and a growing population with a higher prevalence of GI illnesses. Furthermore, technological advancement in endoscopy devices are also having a favourable impact on market growth. Due to the rising incidence of digestive disorders impacting all demographic groups and the developing therapeutic capabilities of endoscopic devices in the U.S., the number of annual gastro-intestinal procedures is also expected to rise.
China is expected to exhibit significant growth over the forecast period. This is due to the region’s increased demand for endoscopy-related technologies. The expanding geriatric population and improved health infrastructure are two more considerations. Furthermore, the Asia Pacific area’s enormous economic development is one of the major drivers attracting worldwide investment to the region.
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The market is fiercely competitive, and major competitors have used a variety of techniques to boost their endoscopic device market share. Product introduction, product development, product approval, and acquisition have been the key initiatives to expand market hold.
Besides, firms are also attempting to develop distinct differentiation in endoscopic systems based on their use as the industry progresses. Various client groups are migrating toward optimum vision systems that integrate endoscope and camera due to the demands of high-quality imaging and operative capabilities.
- In 2021, Fujifilm Holdings Corporation announced the introduction of the ELUXEO 7000X System, an innovative audiovisual imaging technology. This platform facilitates real-time visualization of the haemoglobin-oxygen saturation levels in tissues during the endoluminal imaging and/or laparoscopic procedures.
- In 2020, Pentax Medical announced the 2020 launch of a new line of ultrasound video gastroscopes known as the J10. This food tool has ergonomic shape and ease of handling, enhanced maneuverability, and better image quality to help meet both market and clinical needs.
Key Companies Profiled
- Olympus Corporation
- FUJIFILM Holdings Corporation
- Stryker Corporation
- Boston Scientific Corporation
- Karl Storz GmbH & Co. KG
- Pentax Medical
- Hoya Corporation
- Johnson & Johnson
- Medtronic Plc
- Medrobotics Corporation
- Richard Wolf GmbH
- Smith & Nephew Plc
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Market Segments Covered in Endoscopy Devices Market Analysis
- By Endoscopy Devices Type :
- Endoscopy Visualization Systems
- Endoscopy Visualization Component
- Operative Devices
- By Application Type :
- Gastrointestinal (GI) endoscopy
- Obstetrics/ Gynecology endoscopy
- Urology endoscopy (cystoscopy)
- Other applications
- By End-Use Type :
- Ambulatory Surgery Centers
- Other end-uses
- By Region :
- North America
- Latin America
Check Out More Related Studies Published By Fact.MR Research:
Endoscopy Ultrasound Market: The global endoscopy ultrasound market was worth around US$ 997 Million in 2022 and is expected to grow at a CAGR of 5.7% during the forecast period, reaching a value of nearly US$ 1.85 Billion in 2032. The market is likely to be driven by an increase in the usage of endoscopy ultrasound methods due to their improved accuracy in the diagnosis and treatment of gastrointestinal (GI) illnesses from 2022 to 2032.
Endoscopy Procedures Estimates Market: The global endoscopy procedures estimates market was valued at US$ 223 Mn in 2021, and is expected to gain a significant position in the market with a steady CAGR rate of 1.5% during the forecast period, 2022- 2032. The industry is projected to reach a market size of worth US$ 263 Mn by 2032.
Endoscopy Operative Devices Market: Global sales of Endoscopy Operative Devices Market in 2021 was held at US$ 8.7 Bn. With 5.8%, the projected market growth during 2022 – 2032 is expected to be significantly higher than the historical growth. Gastrointestinal (GI) Endoscopy is expected to be the highest revenue generating segment, accounting for an expected CAGR rate of 6.3% during 2022 – 2032.
Endoscopy Cameras Market: Worldwide sales of endoscopy cameras are anticipated to increase at a stellar CAGR of 10.6% from 2022 to 2027. At present, the global endoscopy cameras market is valued at US$ 1.3 billion and is projected to reach a value of US$ 2.15 billion by the end of 2027.
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