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).

Who are the key vendors in the Global Flexible Endoscopes Market?

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'.

What is the key driver of Global Flexible Endoscopes Market?

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.

What is the key market trend for Global Flexible Endoscopes Market?

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.

Which region accounted for the largest share in Global Flexible Endoscopes Market?

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.

Flexible Endoscopes Market Size, Share, Growth Analysis, By Product Type (Video Endoscopes, Fiberscopes), By Application (Gastrointestinal Endoscopy, Pulmonary Endoscopy), By End User, By Region - Industry Forecast 2024-2031

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

Flexible Endoscopes Market News

In June 2024, Olympus unveiled its new range of highly flexible endoscopes with superior imaging features, such as 4K resolution and improved color contrast. The innovation is part of the early-stage cancer detection and enhancement in procedural outcomes associated with this. Olympus innovation is still supportive of minimally invasive surgeries and precision diagnostics across several medical fields.
In March 2024, Medtronic introduced the HemoClear system, an innovative, flexible endoscope designed for gastrointestinal bleeding diagnosis. The system integrates advanced AI for real-time hemorrhage detection and monitoring, improving procedural efficiency and patient safety. An improvement like this allows physicians to deliver quicker treatment plans and more precise treatments during critical interventions involving the digestive tract.
In January 2024, Pentax Medical unveiled its next-generation EndoPro System, a flexible endoscope platform featuring enhanced maneuverability and a high-definition imaging system. The goal of this development would be to enhance clinical outcomes for use in pulmonology and gastroenterological procedures as well. New avenues have been opened to it with the ergonomic design and high optical standards of the system, providing an even clearer view into the body for precise diagnoses and treatments.

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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, growing at a CAGR of 7.6% during the forecast period (2024-2031).

It offers high competition in the global flexible endoscopes market such that the key players are mostly focusing on technology developments and innovations in products. Some companies that dominate the global scenario for advanced endoscopic solutions include Olympus Corporation; Pentax Medical (Hoya Corporation); Boston Scientific; Medtronic; and Stryker Corporation. These companies invest a great amount of their revenue in research and development to improve imaging quality and ensure patient safety to spread the use of flexible endoscopes through different procedures in clinical practice which in turn fosters the growth and competition of the market. 'Olympus Corporation ', 'Fujifilm Holdings Corporation ', 'Karl Storz SE & Co. KG ', 'HOYA Corporation ', 'Stryker Corporation ', 'Boston Scientific Corporation ', 'Medtronic plc ', 'Smith & Nephew plc ', 'Richard Wolf GmbH ', 'Cook Medical ', 'B. Braun Melsungen AG ', 'Conmed Corporation ', 'Ambu A/S ', 'Laborie Medical Technologies ', 'Schölly Fiberoptic GmbH ', 'Interscope Inc. ', 'Boston Scientific ', 'Huger Medical Instrument Co., Ltd. ', 'SonoScape Medical Corp. ', 'Shenzhen Mindray Bio-Medical Electronics Co., Ltd.'

Endoscopic technology continues to innovate, including high-definition imaging, artificial intelligence-assisted diagnostics as well as minimally invasive. These innovations are the key drivers in the marketplace for flexible endoscopes worldwide as diagnostic accuracy, treatment outcomes, and patient safety all improve with adoption across health care settings.

Rising Demand for Minimally Invasive Procedures: Global flexible endoscopes market is thriving in the demand for minimally invasive surgeries which provide several benefits like lesser recovery time, decreased risks, and better outcomes. Gastrointestinal and pulmonary procedures prove their worth in this regard, thereby increasing the consumption of flexible endoscopes.

North America dominates the global flexible endoscopes market due to advanced healthcare infrastructure, high adoption of cutting-edge medical technologies, and strong government support for healthcare innovations. The healthcare institutions that are already entrenched in these regions, along with the fast-growing awareness about early disease detection, have given rise to a lot of demand for flexible endoscopy procedures. The presence of lead market players, good reimbursement policies, and increasing incidence of chronic diseases, like gastrointestinal and pulmonary disorders, have even contributed to North America being a key market. Continuous research and development in endoscopic technologies and high healthcare expenditures continue driving the global flexible endoscopes market share in this region.

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Flexible Endoscopes Market Size, Share, Growth Analysis, By Product Type (Video Endoscopes, Fiberscopes), By Application (Gastrointestinal Endoscopy, Pulmonary Endoscopy), By End User, By Region - Industry Forecast 2024-2031

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Flexible Endoscopes Market Report Snapshots

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FAQs

What is the global market size of Flexible Endoscopes Market?

Who are the key vendors in the Flexible Endoscopes Market?

What is the key driver of Flexible Endoscopes Market?

What is the key market trend for Flexible Endoscopes Market?

Which region accounted for the largest share in Flexible Endoscopes Market?

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