What is the global market size of Flexible Endoscopes Market?

Flexible Endoscopes Market size was valued at USD 8.33 Billion in 2021 and is poised to grow from 8.96 Billion in 2022 to USD 16.1 Billion by 2030, at a CAGR 7.6 % during the forecast period (2023-2030).

Flexible Endoscopes Market Size, Share, Growth Analysis, By Type(Laparoscopes, Arthroscopes, Ureteroscopes, Cystoscopes), By End-Use(Hospitals and Outpatient Facilities), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35A2538 | Region: Global | Published Date: March, 2024
Pages: 219 | Tables: 75 | Figures: 75

Flexible Endoscopes Market Dynamics

Flexible Endoscopes Market Drivers

Increasing Prevalence of Gastrointestinal Disorders

The rising incidence of gastrointestinal diseases, such as colorectal cancer, gastrointestinal bleeding, and inflammatory bowel disease, is driving the demand for flexible endoscopes. These devices are essential for the diagnosis, treatment, and monitoring of various gastrointestinal conditions, thereby fueling market growth.

Flexible Endoscopes Market Restraints

Risk of Contamination and Infection

Flexible endoscopes are reusable medical devices that require proper cleaning, disinfection, and sterilization to prevent contamination and infection transmission between patients. Inadequate reprocessing practices or lapses in cleaning protocols can lead to infections, which can impact patient safety and hinder the adoption of flexible endoscopes.

Flexible Endoscopes Market Report Snapshots

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Global Flexible Endoscopes Market size was valued at USD 8.96 Billion in 2022 and is poised to grow from USD 9.64 Billion in 2023 to USD 17.32 Billion by 2031, at a 7.6% during the forecast period (2024-2031).

The increased demand for flexible endoscopes for various therapeutic and diagnostic procedures has created fierce rivalry among the market's current players. The competition is also growing as a result of technological developments made by important competitors in the field of endoscope tools. 'Olympus Corporation', 'Fujifilm Holdings Corporation', 'Medtronic plc', 'Karl Storz SE & Co. KG', 'Stryker Corporation', 'Boston Scientific Corporation', 'Pentax Medical Company (Hoya Corporation)', 'Richard Wolf GmbH', 'Ambu A/S', 'Cook Medical LLC', 'HOYA Corporation', 'Smith & Nephew plc', 'Conmed Corporation', 'EndoChoice Holdings, Inc. (Beijing Hangwei Medical Systems Co., Ltd.)', 'Applied Medical Resources Corporation', 'Fujifilm Medical Systems USA, Inc.', 'Vimex Sp. z o.o.', 'GIMMI GmbH', 'Maxer Endoscopy GmbH', 'Schölly Fiberoptic GmbH'

The rising incidence of gastrointestinal diseases, such as colorectal cancer, gastrointestinal bleeding, and inflammatory bowel disease, is driving the demand for flexible endoscopes. These devices are essential for the diagnosis, treatment, and monitoring of various gastrointestinal conditions, thereby fueling market growth.

Increasing adoption of minimally invasive procedures: The market for flexible endoscopes is witnessing a significant trend towards minimally invasive procedures. These procedures offer benefits such as reduced patient discomfort, shorter recovery times, and lower healthcare costs. The growing preference for minimally invasive techniques among patients and healthcare providers is driving the demand for flexible endoscopes.

North America dominated the adaptable endoscopes market or accounted for the largest revenue share of 40.6% in 2022 as a result of an increase in chronic illnesses that necessitate their use, including irritable bowel syndrome, colorectal and stomach cancer, and those that cause the stomach and. Studies estimate that 12% of Americans have irritable bowel syndrome. By 2021, 16.5% of the population in the region will be 65 or older, an increase in an aging population which is more susceptible to chronic diseases. This number is anticipated to rise to 20% by 2050, aiding market expansion.

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Flexible Endoscopes Market Size, Share, Growth Analysis, By Type(Laparoscopes, Arthroscopes, Ureteroscopes, Cystoscopes), By End-Use(Hospitals and Outpatient Facilities), By Region - Industry Forecast 2024-2031

Flexible Endoscopes Market Dynamics

Flexible Endoscopes Market Report Snapshots

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