Global Flexible Endoscopes Market

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 Insights

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).

About the market drivers, many factors are contributing to the development of the market such as rising incidence of chronic disease that affects the internal systems of the body; benefits of flexible microscopes over competing products; and the growing demand for early diagnosis of chronic illnesses. Products such as endoscopes are widely used in diagnosis and treatment of chronic diseases like lung infections, inflammatory bowel diseases (IBD), stomach cancer, and colon cancer. The need for flexible endoscopes is therefore being driven up by the rising incidence of these conditions. Flexible endoscopes' advantages over conventional endoscopes have led to a rise in usage, which is driving the market's growth. 

For example, the best feature of flexible endoscopes is that the surgeon can manipulate the lens to change orientation and increase the scope of the instrument. The need for flexible endoscopes with light has increased as a result of the widespread recommendation by medical professionals for early identification of numerous chronic illness disorders. Medical professionals may execute invasive procedures more easily due to these technologies, which also help patients feel less discomfort during therapy. Due to hospitals and other healthcare facilities' significant investments in the installation of flexible endoscopic cameras employing smartphone technology, there will be a greater need for flexible endoscopes.

US Flexible Endoscopes Market is poised to grow at a sustainable CAGR for the next forecast year.

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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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Global Flexible Endoscopes Market

Report ID: SQMIG35A2538

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