Endoscopes Market Share, Size, Trends, Industry Analysis Report, By Product; By Application; By End-Use (Hospitals, Ambulatory Surgery Centers/Clinics, Other); By Region; Segment Forecast, 2021 - 2028
- Published Date:Oct-2021
- Pages: 134
- Format: PDF
- Report ID: PM2039
- Base Year: 2020
- Historical Data: 2016 - 2019
Report Summary
The global endoscopes market was valued at USD 11.54 billion in 2020 and is expected to grow at a CAGR of 9.1% during the forecast period. Manufacturers have increased their emphasis on specialized products that can be used in all medical facilities due to the continuous technological advancements and increasing adoption of endoscopes.
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The rising global burden of chronic diseases such as cardiovascular disease and cancer has resulted in a greater demand for innovative endoscopy instruments. Emerging funds and grants from government and healthcare organizations, increasing the burden of chronic illness are leading to the surge in the volume of endoscopic procedures conducted, which will propel the endoscopes market forward in the coming years.
Industry Dynamics
Growth Drivers
The endoscope manufacturer substantial made huge technological gains, and they are bringing innovative endoscopes to the market. Many major players in the market are also collaborating further to develop new technology in the field of endoscope devices. In 2020, Olympus Corporation brought its advanced endoscopy known as EVIS X1 to the market, specifically helpful in disorders of the Bronchial disorders, colon, stomach, and oesophagus.
The new system is expected to improve the clinical outcome in such patients. Similarly, in the same year, PENTAX Medical launched its new generation IMAGINA Endoscopy System. This system is ideal for use in gastrointestinal (GI) procedures. The System has many exciting features, such as a real-time, digital image enhancement technology known as PENTAX i-SCAN. This new technology in the market can greatly help clinicians by providing enhanced images of the texture of the blood vessels and mucosal surface. Hitachi and Olympus Corporation entered into a collaboration in January 2021 to jointly develop ultrasonic endoscope used in treating complications of the pancreas, liver, and other organs.
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In recent years, minimally invasive surgeries have become increasingly preferred over traditional surgeries, where endoscopes play a very important role. Minimally invasive surgeries can also have attributed to short recovery time, and it significantly decreases the postsurgical complications. There is increased adoption of endoscopy in treating various diseases such as orthopedic disorders, cancer, and neurological disorders. Since most of these diseases require surgery, it will be one of the important factors driving the demand for the endoscopes market during the forecast period.
Report Segmentation
The market is primarily segmented on the basis of product, application, end-use, and region.
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By Product |
By Application |
By End-Use |
By Region |
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Insight by Product
The flexible endoscopes dominated the global market share in 2020. Increased preference of these endoscopes in various treatments including upper gastrointestinal endoscopy, laryngoscopy, bronchoscopy, nasopharyngoscopy and others, advancement in technology makes the segment the highest shareholder of the global endoscope market. The disposable endoscope is expected to grow at highest growth rate during the forecast period. Increased launch of innovative products, the risk associated with traditional reusable endoscope makes the segment fastest-growing in the global market.
Insight by Application
Gastrointestinal (GI) endoscopy accounts for the highest revenue share due to the increasing prevalence of gastrointestinal diseases, availability of innovative gastroscopy products, increased adoption of GI endoscopy for diagnosis and treatment of disease and rising elderly population. Urology endoscopy is expected to be the fastest -growing in this segment during the forecast period due to increasing patient base and increasing adoption of endoscopy in urology surgeries.
Geographic Overview
North America is expected to be the biggest region in terms of revenue share. This region has some of the world’s most developed economies, such as the U.S., where most companies launch their advanced endoscopes devices. The countries in the market also have the most favorable reimbursement policies. Geriatric population in U.S. is estimated to be around more than 55.0 million by 2060; it will grow to more than 90 million. Minimally invasive surgeries or endoscopy that requires endoscope is preferred to treat old patients because of the improved post-surgical outcomes and short recovery time.
Asia Pacific will be the fastest-growing region in the endoscope market during the forecast period. Many of the emerging economies such as China and India are from this region, and the governments are investing significantly to improve the healthcare infrastructure in these countries. The region is also seeing an upsurge in chronic diseases and accounts for a 390 million geriatric population. All these factors will significantly boost the revenue share of this region in the global market.
Competitive Landscape
Major Players in the endoscope market are trying to bring advanced devices to the market through collaborations and also by significantly investing in research & development. The companies are also trying to increase their presence in the developing economies by strategic partnerships with local players to launch their endoscope products in the global market.
Some of the Major Players operating the endoscopes market include Carl Zeiss AG, ConMed Corporation, Cook Medical, Dantschke Medizintechnik GmbH & Co. KG, Fortimedix Surgical B.V., Fujifilm Corporation, Hoya Corporation, Intuitive Surgical, Inc., JOHNSON & JOHNSON, KARL STORZ SE & Co. KG, Laborie, Medi-Globe, Medtronic, Nipro Medical Corporation, Olympus Corporation, Richard Wolf GmbH, Smith & Nephew Plc., Stryker Corporation, Teleflex Incorporated, and The Cooper Companies, Inc.
Endoscopes Market Report Scope
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Report Attributes |
Details |
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Market size value in 2020 |
USD 11.54 billion |
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Revenue forecast in 2028 |
USD 21.16 billion |
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CAGR |
9.1% from 2021 - 2028 |
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Base year |
2020 |
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Historical data |
2016 - 2019 |
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Forecast period |
2021 - 2028 |
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Quantitative units |
Revenue in USD billion and CAGR from 2021 to 2028 |
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Segments covered |
By Product, By Application, By End-Use, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key Companies |
Carl Zeiss AG, ConMed Corporation, Cook Medical, Dantschke Medizintechnik GmbH & Co. KG, Fortimedix Surgical B.V., Fujifilm Corporation, Hoya Corporation, Intuitive Surgical, Inc., JOHNSON & JOHNSON, KARL STORZ SE & Co. KG, Laborie, Medi-Globe, Medtronic, Nipro Medical Corporation, Olympus Corporation, Richard Wolf GmbH, Smith & Nephew Plc., Stryker Corporation, Teleflex Incorporated, and The Cooper Companies, Inc. |
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