Endoscopy Devices Market Outlook 2031
The global endoscopy devices market size was valued at USD 45.7 Billion in 2022 and is expected to reach USD 84 Billion by 2031, expanding at a CAGR of 7.4% during the forecast period, 2023 – 2031. The market growth is attributed to the increasing adaptation of endoscopic devices for the diagnosis and treatment of various chronic and genetic diseases.
The endoscopy device is a medical instrument designed to visually examine the interior organs or tissue of the human body. It contains a slender and pliable tube affixed with a miniature camera and light source at its tip.
The device is inserted into the body through a natural opening or small incision, and transmits real-time images to a monitor, thereby allowing the doctor or surgeons to observe and analyze the internal conditions of the patient. The term “endoscopy” is most frequently used to describe an examination of the upper gastrointestinal tract, also called as an esophagogastroduodenoscopy.
Endoscopy is a minimally invasive medical procedure that aids doctors in diagnosing and treating different medical conditions such as digestive, respiratory, joint disorders, and other diseases. It can also be used as a therapeutic tool to remove polyps, stones, or foreign objects from the body and treat internal bleeding or blockages. Endoscopy procedures require shorter hospital stays than traditional surgical procedures and have a low risk of complications.
The COVID-19 pandemic affected the endoscopy devices market. The polarization of resources toward COVID-19 related medical equipment has led to delays in the production and distribution of endoscopy devices.
The postponement or cancellation of many endoscopic procedures caused decrease in demand for endoscopy devices. However, the adoption of infection prevention and control measures has led to an increased demand for disposable endoscopy devices.
Endoscopy Devices Market Dynamics
Key Trends
The increasing preference from patients for minimally invasive endoscopy medical procedures is a key trend in the market. The various advantages associated with endoscopy procedures including shorter hospital stays, reduced pain, and faster recovery times are driving demand for endoscopy devices.
Major Drivers
The increasing need for endoscopy equipment for diagnosis and remedial measures for chronic diseases is one of the major factors likely to be driving the endoscopy device market during the forecast period.
The rising health-damaging behaviors such as excessive tobacco and alcohol consumption, lack of physical activities, and poor eating habits are increasing the risk of chronic diseases in individuals worldwide.
Existing Restraints
The risk of viral transmission due to direct or indirect contact with internal organs during endoscopy procedures is expected to hinder the market. Endoscopy works in close proximity to the gastrointestinal lumen during procedures such as gastroscopy, colonoscopy, and endoscopic retrograde cholangiopancreatography. This exposure to respiratory, oropharyngeal, and gastrointestinal infections increases the risk of viral transmission.
Emerging Opportunities
The increasing technological research and development activities have created favorable opportunities for players in the endoscopy devices market. The development of advanced endoscopy devices has offered improved diagnostic and therapeutic capabilities to doctors. Further, the implementation of artificial intelligence (AI) in endoscopy devices has helped in the real-time detection of abnormalities and improved the accuracy of diagnosis.
Scope of Endoscopy Devices Market Report
The report on the market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Endoscopy Devices Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Device Type (Endoscope [Flexible, Rigid, Capsule, and Robot-assisted], Endoscopy Operative Device [Irrigation/Suction Systems, Access Devices, Wound Protectors, Insufflation Devices, Operative Manual Instruments, and Others], Visualization System [Endoscopic Cameras, Standard Definition Visualization, and High Definition Visualization]), End-use (Hospitals, Ambulatory Surgery Centers, and Others), and Application (Arthroscopy, Gastrointestinal Endoscopy, Urology Endoscopy, Laparoscopy, Obstetrics Endoscopy, Bronchoscopy, Laryngoscopy, Otoscopy, Mediastinoscopy, and Others).
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Olympus Corporation; Ethicon Endo-Surgery, LLC; Stryker; Boston Scientific Corporation; FUJIFILM Holdings Corporation; Smith &Nephew Inc.; KARL STORZ SE & Co. KG, Tuttlingen; Richard Wolf GmbH; PENTAX Medical; Certified Endoscopy LLC.; and AA Medical.
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Endoscopy Devices Market Segment Insights
Device Type Segment Analysis
Based on the device type, the market is divided into endoscopes, visualization equipment, and endoscopic operative devices. The endoscope segment is further segmented into rigid, flexible, Capsule, and Robot-assisted.
The visualization equipment segment is expected to hold a major revenue share of the market during the forecast period. The segment growth is attributed to the increasing application of high-definition (HD) visualization devices by medical professionals for the treatment and diagnosis of complex diseases such as Gastrointestinal disorders, thyroid cancer, lung disorders, and urinary disorders. Advanced endoscopy visualization equipment enables surgeons and doctors to visualize the internal organs with better precision to operate accurately during medical procedures.
The endoscopes segment is anticipated to expand at a significant CAGR in the coming years. The high adaptation of endoscopes by medical professionals to perform surgeries and biopsies for better diagnosis and treatment is anticipated to drive the growth of the endoscopes segment.
Endoscopes are getting better with modern technologies and manufacturing advancements. The various advantages of next-generation endoscopes include safety, enhanced ergonomics, and improved efficiency. These factors are increasing the preference for advanced endoscopes among surgeons and doctors.
The visualization equipment segment is further segregated into endoscopic cameras, Standard Definition (SD) Visualization, and High Definition (HD) Visualization. The endoscopic operative devices segment is further classified as irrigation/suction systems, access devices, operative manual instruments, and others.
End-Use Segment Analysis
On the basis of end-use, the endoscopy devices market is divided into hospitals, ambulatory surgery centers, and others. The hospitals segment is anticipated to hold a major market share during the forecast period.
The preference for hospitals as primary healthcare systems and the increasing prevalence of chronic diseases among the patient population are driving the growth of this segment. The growing number of surgeries performed in hospitals including endoscopy procedures is propelling the adoption of endoscopy devices.
The ambulatory surgery centers and clinics segment is expected to register a robust growth rate in the market in the coming years. The growth is attributed to the increasing preference for minimally invasive procedures due to the lower medical expenses and minimal discomfort for the patients. The use of less invasive keyhole endoscopy procedures in ambulatory surgery centers or clinics also increases the speed of recovery and reduces the days of hospital stays.
Application Segment Analysis
In terms of application, the endoscopy devices market is fragmented into arthroscopy, gastrointestinal endoscopy, urology endoscopy, laparoscopy, obstetrics endoscopy, bronchoscopy, laryngoscopy, otoscopy, mediastinoscopy, and others. The gastrointestinal endoscopy segment is estimated to hold a key market share during the projected period.
The increasing number of colorectal cancers, and gastrointestinal diseases due to the high consumption of red meat and processed meat are major factors driving the segment. The growing disposable income, rising generic population, and improved healthcare infrastructures are anticipated to fuel the gastrointestinal endoscopy segment in the coming years.
The urology endoscopy segment is expected to hold a considerable market share in the coming years. This is attributed to the increasing prevalence rate of chronic urological diseases such as bladder control problems, urinary tract infections, prostate problems, and kidney stones. The growth in diabetes and high blood pressure patients is due to the increasing unhealthy food consumption habits of people are expected to propel the urology endoscopy segment during the projected period.
Regional Analysis
In terms of region, the global endoscopy devices market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market due to the growing number of several chronic diseases such as cancer, diabetes, cardiovascular diseases along functional gastrointestinal disorders.
The rising adaptation of robots assisting endoscopy for surgical and diagnostic medical procedures is further propelling the use of endoscopy devices in this region. According to a report published in 2022 by the National Library of Medicine, an estimated 17.7 million endoscopy procedures were performed annually in North America prior to the COVID-19 pandemic.
Asia Pacific is anticipated to expand at a rapid pace in the global market in the coming years. The availability of skilled medical professionals and the presence of established medical tourism attracting patients from the rest of the world for endoscopy treatments. These factors are anticipated to boost the use of endoscopy devices in this region. The rapid expansion in healthcare facilities and rising healthcare expenditure are propelling the number of endoscopy procedures in this region.
Segments
The global endoscopy devices market has been segmented on the basis of
Device Type
- Endoscope
- Flexible
- Rigid
- Capsule
- Robot-assisted
- Endoscopy Operative Device
- Irrigation/Suction Systems
- Access Devices
- Wound Protectors
- Insufflation Devices
- Operative Manual Instruments
- Others
- Visualization System
- Endoscopic Cameras
- Standard Definition Visualization
- High Definition Visualization
End-use
- Hospitals
- Ambulatory Surgery Centers
- Others
Application
- Arthroscopy
- Gastrointestinal Endoscopy
- Urology Endoscopy
- Laparoscopy
- Obstetrics Endoscopy
- Bronchoscopy
- Laryngoscopy
- Otoscopy
- Mediastinoscopy
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Olympus Corporation
- Ethicon Endo-Surgery , LLC
- Stryker
- Boston Scientific Corporation
- FUJIFILM Holdings Corporation
- Smith &Nephew Inc.
- KARL STORZ SE & Co. KG, Tuttlingen
- Richard Wolf GmbH
- PENTAX Medical
- Certified Endoscopy LLC.
- AA Medical
Competitive Landscape
Key players in the endoscopy devices market are Olympus Corporation; Ethicon Endo-Surgery,LLC; Stryker; Boston Scientific Corporation; FUJIFILM Holdings Corporation; Smith &Nephew Inc.; KARL STORZ SE & Co. KG, Tuttlingen; Richard Wolf GmbH; PENTAX Medical; Certified Endoscopy LLC.; and AA Medical.
These companies are boosting their market share by adopting various strategies such as partnerships, mergers, new product launches and approvals, collaboration, and implementing advanced technologies.
- In January 2023- Global new and resale medical device supplier AA Medical entered into a partnership with Chicago-based medical equipment reprocessing company Certified Endoscopy LLC. specializing in endoscopy devices. AA Medical and Certified Endoscopy LLC. are prominent companies that provide medical devices including endoscopy, orthopedic, and other devices.
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