What is the global market size of Endoscopy Devices Market?

Global Endoscopy Devices Market size was valued at USD 45.9 billion in 2021 and is poised to grow from USD 46.7 billion in 2022 to USD 77.99 billion by 2030, growing at a CAGR of 7.6% during the forecast period (2023-2030). The market for endoscopy devices is expected to experience significant growth in the foreseeable future due to several key factors. One of the primary drivers is the less invasive nature of these devices, coupled with their affordability in terms of pre and post-procedure costs. Additionally, there is a growing trend towards using disposable endoscopic components to reduce procedure costs and minimize the risk of cross-contamination, which is anticipated to further accelerate market growth. The increasing burden of chronic diseases and the rising geriatric population worldwide also contribute to the adoption of endoscopic devices. Various medical conditions associated with the elderly, such as liver abscess, gall stones, endometriosis, and intestinal perforation, often require endoscopic interventions, thereby driving the demand for endoscopy devices. For example, the Administration on Aging (AoA) of the U.S. Department of Health and Human Services reported that the population aged above 65 years was 16% in 2019 and is expected to reach 21.6% by 2040. Moreover, medical professionals are increasingly preferring technologically advanced endoscopy devices equipped with high-definition cameras and light sources to facilitate accurate analysis of internal organs. The shift towards minimally invasive surgical procedures over traditional surgeries, aiming to reduce hospital stays and post-procedure complications, is another significant factor fueling the demand for endoscopy devices. These factors contribute to higher patient satisfaction, improved economic viability, and reduced hospital stays, thereby driving the demand for minimally invasive endoscopic interventions. Furthermore, the growing burden of cancer globally is leading to increased adoption of endoscopy devices for early diagnosis and treatment. Biopsies, in particular, have gained preference for cancer detection and diagnosis, further propelling the demand for endoscopic devices. Technological advancements in developing innovative endoscopic solutions are also expected to drive market growth. Key manufacturers are continually striving to introduce advanced endoscopic devices for improved treatment and diagnosis of chronic disorders. For instance, Fujifilm Holdings Corporation launched the ELUXEO 7000X endoscopic Imaging System in August 2021, which allows real-time visualization of hemoglobin oxygen saturation levels in tissue during laparoscopic and endoluminal imaging procedures.

Who are the key vendors in the Global Endoscopy Devices Market?

The global endoscopy devices market is characterized by intense competition among several prominent players. These companies focus on continuous research and development activities to introduce innovative products and gain a competitive edge. Market participants also emphasize strategic collaborations, partnerships, and mergers to expand their market presence and distribution networks. Additionally, companies invest in enhancing their manufacturing capabilities and maintaining stringent quality standards to ensure product efficacy and reliability. Moreover, the market is witnessing increased competition due to the entry of new players, further intensifying the competitive dynamics within the industry. 'Medtronic (US)', 'Johnson & Johnson (US)', 'Olympus Corporation (Japan)', 'Fujifilm Holdings Corporation (Japan)', 'Stryker Corporation (US)', 'Karl Storz SE & Co. KG (Germany)', 'Boston Scientific Corporation (US)', 'Cook Medical (US)', 'Smith & Nephew plc (UK)', 'Hoya Corporation (Japan)', 'CONMED Corporation (US)', 'Pentax Medical (Japan)', 'Richard Wolf GmbH (Germany)', 'B. Braun Melsungen AG (Germany)', 'Olympus Medical Systems Corp. (Japan)', 'Fujifilm Medical Systems USA, Inc. (US)', 'Medtronic plc (Ireland)', 'KARL STORZ Endoscopy-America, Inc. (US)', 'Arthrex, Inc. (US)', 'Ethicon, Inc. (US)'

What is the key driver of Global Endoscopy Devices Market?

One significant driver fueling the growth of the global endoscopy devices market is the increasing prevalence of chronic diseases, such as gastrointestinal disorders and cancer. The rising burden of these diseases worldwide creates a higher demand for endoscopy devices for early diagnosis, treatment, and management. This driver is propelled by factors such as changing lifestyle patterns, aging populations, and the need for minimally invasive procedures, highlighting the importance of endoscopy devices in addressing the growing healthcare challenges.

What is the key market trend for Global Endoscopy Devices Market?

One prominent trend in the global endoscopy devices market is the increasing adoption of robotic-assisted endoscopy procedures. Robotic technology offers enhanced precision, dexterity, and visualization during endoscopic interventions, enabling surgeons to perform complex procedures with greater accuracy. The use of robotic systems also allows for smaller incisions, reduced tissue trauma, and faster patient recovery. As a result, the demand for robotic-assisted endoscopy is growing, as healthcare providers seek to improve patient outcomes and expand the capabilities of minimally invasive procedures. This trend is expected to continue driving advancements in endoscopy technology and shaping the future of the market.

Which region accounted for the largest share in Global Endoscopy Devices Market?

North America dominated the global endoscopy devices market. The region's dominance can be attributed to several factors. Firstly, the well-established healthcare infrastructure and high healthcare expenditure in countries like the United States and Canada contribute to the widespread adoption of advanced medical technologies, including endoscopy devices. Additionally, favorable reimbursement policies and a high level of awareness among healthcare professionals and patients further drive the market growth.

Endoscopy Devices Market Size, Share, Growth Analysis, By Product(Endoscope(Flexible Endo scopes, Rigid Endoscopes, Disposable Endoscopes, Capsule Endoscopes), By End Use(Hospitals, Ambulatory Surgery Centers/Clinics, Other End Users), By Application(Gastrointestinal Endoscopy, Laparoscopy, Obstetrics/Gynaecology Endoscopy, Arthroscopy), By Region - Industry Forecast 2025-2032

Report ID: SQMIG35B2089 | Region: Global | Published Date: August, 2024
Pages: 219 | Tables: 59 | Figures: 75

Endoscopy Devices Market Insights

Endoscopy Devices Market size was valued at USD 50.22 Billion in 2023 and is poised to grow from USD 54.04 Billion in 2024 to USD 97.09 Billion by 2032, growing at a CAGR of 7.6% during the forecast period (2025-2032).

The increasing burden of chronic diseases and growing elderly population worldwide are also expected to drive the adoption of advanced endoscopy tools such as wireless capsule endoscopy and high-resolution cameras use in the coming years. Gallstones, endometriosis, and bowel perforation require endoscopic interventions, which was expected to drive the endoscopy devices market in forecast years.

Additionally, medical professionals who want to use advanced endoscopic technology equipped with high resolution camera light to help physicians create internal organs of interest about such as, Stryker, Olympus Corporation, Fujifilm Holdings Corporation analyses in premium cameras are also driving the market. A change in preference for minimally invasive surgery over conventional surgery to reduce postoperative complications and reduce hospital stays are key factors expected if endoscopic devices demand has increased, which will accelerate market growth.

The increasing global burden of cancer also drives the adoption of diagnostic devices for early diagnosis and treatment. Furthermore, the increasing preference for biopsy for cancer detection and diagnosis in recent years is also likely to drive the adoption of endoscopic devices, which in turn is expected to drive the development of endoscopic devices over the years.

Endoscopy Devices Market Report Snapshots

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Global Endoscopy Devices Market size was valued at USD 46.67 billion in 2022 and is poised to grow from USD 50.22 billion in 2023 to USD 90.23 billion by 2031, growing at a CAGR of 7.6% during the forecast period (2024-2031).

The competitive landscape in the endoscopy devices market is intense, driven by rapid technological advancements and increasing demand for low-cost diagnostic solutions. Endoscopy devices constantly innovating to maintain their competitive edge through expansion and areas of application these companies invest heavily in R&D to develop high-resolution. The increasing presence of smaller specialist companies providing disposable endoscopes increases competitive pressures, especially as healthcare providers place higher priority on infection control and operational efficiency. This dynamic environment fosters innovation continuous production, with companies trying to meet medical needs and respond to changing regulatory standards, shapes the market. 'Medtronic (US) ', 'Johnson & Johnson (US) ', 'Olympus Corporation (Japan) ', 'Fujifilm Holdings Corporation (Japan) ', 'Stryker Corporation (US) ', 'Karl Storz SE & Co. KG (Germany) ', 'Boston Scientific Corporation (US) ', 'Cook Medical (US) ', 'Smith & Nephew plc (UK) ', 'Hoya Corporation (Japan) ', 'CONMED Corporation (US) ', 'Pentax Medical (Japan) ', 'Richard Wolf GmbH (Germany) ', 'B. Braun Melsungen AG (Germany) ', 'Olympus Medical Systems Corp. (Japan) ', 'Fujifilm Medical Systems USA, Inc. (US) ', 'Medtronic plc (Ireland) ', 'KARL STORZ Endoscopy-America, Inc. (US) ', 'Arthrex, Inc. (US) ', 'Ethicon, Inc. (US) '

Increasing incidence of chronic diseases such as gastrointestinal disorders, cancer, cardiovascular diseases is a key driver of endoscopy devices market. These health issues often require specific, manageable diagnostic and treatment strategies better through less invasive endoscopic techniques. Endoscope devices offer solutions that reduce relief time, reduce scarring and minimize the risks associated with open procedures. Besides, when global awareness of disease of early detection rises, the demand for accurate diagnostic devices is expected to rise, further accelerating market expansion.

Growing demand for minimally invasive treatments: A notable feature of endoscopy devices market is the increasing preference for less invasive procedures among patients and healthcare professionals. Minimally invasive endoscopic procedures offer more advantages compared to conventional surgery such as pain relief, hospital stay shorter and faster healing time with resultant gastrointestinal tract. These techniques are becoming increasingly popular in surgeries related to the respiratory and reproductive systems. This trend is driving the demand for advanced monitoring devices anatomy that supports superior imaging and precision instrumentation, addresses the need for minimally invasive surgery and enhances patient care.

North America dominated the endoscopy devices market in 2023, accounting for the largest revenue share at 41.0%. The high prevalence of many diseases, including gastrointestinal disorders, respiratory conditions, neurological problems, gynecological issues, and cancer, creates the need for endoscopic techniques for diagnosis and treatment disease. For example, according to a report by ResearchGate, there were estimated 2 million new cases of cancer and 611,720 cancer-related deaths in the US. in 2024. The number of candidates for minimally invasive procedures in various medical specialties including gastroenterology, nephrology, neurology, gynecology, and otolaryngology in the US. is driving demand for endoscopy. Also, the increasing prevalence of cancer, the increasing number of elderly populations, which is prone to chronic diseases requiring endoscopic treatment, and the increasing need for timely & early diagnosis will enter is leading to a search for endoscopy. About 26,890 new cases of stomach cancer and about 10,880 deaths from stomach cancer are expected in 2024, according to the American Cancer Society.

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Endoscopy Devices Market Insights

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What is the global market size of Endoscopy Devices Market?

Who are the key vendors in the Endoscopy Devices Market?

What is the key driver of Endoscopy Devices Market?

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