Endoscopy Devices Market | Industry Analysis to 2032
Endoscopy Devices Market Size, Growth Analysis Report, 2024-2032

Endoscopy Devices Market Share, Size, Trends, Industry Analysis Report, By Type (Endoscopes, Endoscopy Visualization Systems, Accessories, Others); By Application; By End Use; By Region; Segment Forecast, 2024 - 2032

  • Published Date:Feb-2024
  • Pages: 116
  • Format: PDF
  • Report ID: PM1131
  • Base Year: 2023
  • Historical Data: 2019-2022

Report Outlook

Market Outlook

  • Endoscopy Devices Market size was valued at USD 54.30 billion in 2023.
  • The market is anticipated to grow from USD 58.26 billion in 2024 to USD 103.59billion by 2032, exhibiting the CAGR of 7.5% during the forecast period.

Market Introduction

Rising obesity rates are propelling the endoscopy devices market, as the global prevalence of obesity contributes to a surge in related conditions. Endoscopy procedures, ranging from traditional scopes to advanced imaging tools, offer minimally invasive solutions for accurate diagnosis and treatment of obesity-related complications like gastrointestinal disorders and cancers. The demand for precise interventions and early detection fuels the adoption of endoscopy devices, ensuring reduced recovery times and improved patient outcomes.

In addition, companies operating in the market are launching new solutions to address the growing demand and strengthen presence.

Endoscopy Devices Market Size

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  • For instance, in July 2020, Ambu Inc. launched a novel disposable cystoscope, the Ambu aScope 4 Cysto. This innovative device provides urologists with instant availability of a single-use cystoscope, suitable for various procedures, including bladder cancer surveillance, stent removal, and other routine cystoscopy interventions.

Surging global healthcare spending is propelling the endoscopy devices market's rapid expansion. Growing investments in healthcare infrastructure, fueled by factors like an aging population and increased chronic diseases, are driving demand for advanced diagnostic and therapeutic solutions. The rise in healthcare budgets enables institutions to invest in cutting-edge endoscopy technologies, fostering market growth through continuous innovation in a competitive landscape.

Industry Growth Drivers

The surge in gastrointestinal diseases is projected to spur the product demand

The surge in gastrointestinal diseases is propelling the growth of the endoscopy devices market. With conditions like colorectal cancer and inflammatory bowel disease on the rise, there's an increasing demand for precise and minimally invasive diagnostic and therapeutic procedures. Endoscopy devices play a pivotal role in effectively visualizing, diagnosing, and treating these disorders. The escalating global burden of gastrointestinal diseases is driving the adoption of advanced endoscopy technologies. The growing awareness of the benefits of early detection and intervention prompts healthcare providers to invest in cutting-edge endoscopy equipment, fueling the market's expansion.

Expanding global elderly population is expected to drive endoscopy devices market growth

The expanding global elderly population is a key catalyst for the growth of the endoscopy devices market. With aging, susceptibility to health issues increases, driving demand for diagnostic and therapeutic interventions. Endoscopy devices, known for their minimally invasive nature, are crucial in addressing the healthcare needs of the elderly, detecting and treating conditions like gastrointestinal disorders and cancers. The rising demand for endoscopic procedures, including colonoscopies and gastroscopies, highlights the significance of these devices in enhancing healthcare for older individuals amidst a changing demographic landscape.

Industry Challenges

High costs of endoscopy equipment are likely to impede the market growth

The endoscopy devices market growth is hampered by the high costs of endoscopy equipment. The significant initial investments for purchasing and maintaining advanced technologies pose a barrier, particularly in resource-limited healthcare settings. This financial burden restricts access to cutting-edge diagnostic and therapeutic procedures, with the additional cost of specialized training. Achieving a balance between the benefits of advanced endoscopy technologies and economic considerations is crucial. Implementing strategies like collaborative purchasing agreements and financial assistance programs becomes imperative to broaden access to innovative endoscopy devices and foster global market growth.

Report Segmentation

The endoscopy devices market analysis is primarily segmented based on type, application, end use, and region.

By Type

By Application

By End Use

By Region

  • Endoscopes
  • Endoscopy Visualization Systems
  • Accessories
  • Others
  • Laparoscopy
  • Bronchoscopy
  • Otoscopy
  • Arthroscopy
  • Urology Endoscopy
  • Gastrointestinal Endoscopy
  • Others
  • Hospitals
  • Outpatient Facilities
  • Others
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)


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By Type Analysis

Endoscopes segment held significant market revenue share in 2023

The endoscopes segment held significant market revenue share in 2023. Endoscopes excel in minimally invasive procedures with smaller incisions, accelerating patient recovery. Their advanced imaging capabilities provide real-time, high-resolution visualization for precise diagnosis and effective treatment planning. The versatility of endoscopes allows both diagnostic and therapeutic interventions within the same procedure, reducing the need for additional surgeries.

Additionally, the smaller incisions result in minimal scarring, contributing to improved cosmetic outcomes. Shorter hospital stays, outpatient procedure feasibility, and quicker recovery times characterize the patient-centric advantages of endoscopes, underscoring their pivotal role in modern medicine.

By Application Analysis

Gastrointestinal endoscopy segment held significant market revenue share in 2023

The gastrointestinal endoscopy segment held significant market revenue share in 2023. Endoscopy devices, equipped with high-definition cameras, ensure diagnostic precision by offering real-time, detailed views of the gastrointestinal tract. Supporting minimally invasive procedures, these devices reduce patient discomfort and enable therapeutic interventions, such as polyp removal and tissue biopsies. The early detection capabilities of endoscopy devices, coupled with patient preferences for reduced scarring and quicker recovery, drive their increased adoption

Ongoing technological advancements enhance imaging, maneuverability, and integration with artificial intelligence, contributing to higher diagnostic accuracy. With a rising aging population susceptible to gastrointestinal disorders, the outpatient feasibility and preventive healthcare emphasis further propel the demand for these versatile devices.

By End Use Analysis

Hospitals segment held significant market revenue share in 2023

The hospitals segment held significant revenue share in 2023. Endoscopy devices are integral across diverse medical specialties in hospitals. Gastroscopes and colonoscopes in gastroenterology aid in diagnosing and treating gastrointestinal conditions, offering direct visualization and therapeutic interventions. Respiratory endoscopy with bronchoscopes is crucial for diagnosing lung issues, obtaining biopsies, and guiding respiratory interventions. Urology utilizes cystoscopes for bladder examinations and minimally invasive surgeries.

ENT endoscopes support otolaryngology procedures, including sinus surgery and vocal cord assessments. Gynecological endoscopy with hysteroscopes and laparoscopes ensures minimally invasive reproductive organ diagnostics and treatments. Orthopedic arthroscopes are pivotal for joint-related surgeries. Neuroendoscopes aid in minimally invasive neurosurgical procedures.

Regional Insights

North America region dominated the global market in 2023

In 2023, North America region dominated the global market. In the United States and Canada, key market players offer a diverse range of advanced endoscopic devices, including flexible and rigid endoscopes, capsule endoscopes, and associated accessories. Technological innovations such as high-definition imaging and 3D visualization contribute to enhanced diagnostic capabilities. Notable trends include a shift towards outpatient settings, increased demand for minimally invasive procedures, and the growing influence of telemedicine. The region's robust healthcare infrastructure and favorable reimbursement policies further support the widespread adoption of advanced endoscopy technologies.

Asia-Pacific is expected to experience significant growth during the forecast period. The Asia-Pacific region, characterized by a rapidly growing population, exhibits robust demand for endoscopy devices. Increased healthcare awareness, coupled with a rising incidence of gastrointestinal diseases, contributes to the industry's expansion.

The market dynamics vary across countries, reflecting diverse healthcare infrastructures and economic conditions. Affordability is a critical factor influencing the adoption of endoscopy devices in Asia-Pacific. Local manufacturers actively engage in producing cost-effective solutions, addressing the diverse economic conditions across the region. Collaborations and technology transfer initiatives further contribute to making these technologies more accessible.

Key Market Players & Competitive Insights

The endoscopy devices market involves a diverse range of participants, and the expected entry of numerous newcomers is poised to intensify competition. Established leaders in the market consistently enhance their technologies to maintain a competitive advantage, emphasizing efficiency, reliability, and safety. These entities prioritize strategic actions, including forging partnerships, improving products, and participating in collaborative ventures, all with the goal of outperforming their counterparts in the industry. Their aim is to secure a substantial endoscopy devices market share.

Some of the major players operating in the global endoscopy devices market include:

  • Arthrex, Inc.
  • B. Braun Melsungen AG
  • Boston Scientific Corporation
  • Cook Medical
  • Fujifilm Holdings Corporation
  • Hoya Corporation
  • Johnson & Johnson
  • KARL STORZ SE & Co. KG
  • Medtronic plc
  • Olympus Corporation
  • Richard Wolf GmbH
  • Ricoh Company, Ltd.
  • Shanghai Aohua Photoelectricity Endoscope Co., Ltd.
  • Smith & Nephew plc
  • Stryker Corporation

Recent Developments

  • In January 2023, FUJIFILM India has revealed the augmentation of its array of endoscopy solutions with the introduction of ClutchCutter and FushKnife. These recently unveiled items are proprietary to Fujifilm and cater to ESD and EMR procedures. Specifically crafted for compatibility with certain endoscopes, these devices assist clinicians in proficiently conducting endoscopic submucosal dissection (ESD) interventions within the digestive tract.
  • In October 2023, Olympus Corporation declared the introduction of its advanced EVIS X1 endoscopy system to the market. The novel technologies aimed at enhancing visualization of the gastrointestinal (GI) tract are strategically developed to empower physicians, enabling them to gain a more comprehensive view and extend their capabilities for the benefit of their patients.
  • Pentax Medical introduced its latest offerings, the Inspira premium video processor, and the i20c video endoscope series. Geared towards enhancing diagnostic and therapeutic functionalities, the innovative video processor is meticulously crafted to enhance clinical outcomes by delivering optimal image quality for all Pentax Medical endoscopes, encompassing both contemporary and legacy devices.

Report Coverage

The endoscopy devices market report emphasizes on key regions across the globe to provide better understanding of the product to the users. Also, the report provides market insights into recent developments, trends and analyzes the technologies that are gaining traction around the globe. Furthermore, the report covers in-depth qualitative analysis pertaining to various paradigm shifts associated with the transformation of these solutions.

The report provides detailed analysis of the market while focusing on various key aspects such as competitive analysis, types, applications, end uses, and their futuristic growth opportunities.

Endoscopy Devices Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 58.26 billion

Revenue forecast in 2032

USD 103.59 billion

CAGR

7.5% from 2024 – 2032

Base year

2023

Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD billion and CAGR from 2024 to 2032

Segments covered

  • By Type
  • By Application
  • By End Use
  • By Region

Regional scope

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Competitive Landscape

  • Endoscopy Devices Market Share Analysis (2023)
  • Company Profiles/Industry participants profiling includes company overview, financial information, product/service benchmarking, and recent developments

Report Format

  • PDF + Excel

Customization

Report customization as per your requirements with respect to countries, region and segmentation.

FAQ's

Arthrex, Inc., B. Braun Melsungen AG, Boston Scientific Corporation, Johnson & Johnson are the key companies in Endoscopy Devices Market

Endoscopy Devices Market is exhibiting the CAGR of 7.5% during the forecast period

The Automotive Electronics Market report covering key segments are type, application, end use, and region.

The surge in gastrointestinal diseases is projected to spur the product demand are the key driving factors in Endoscopy Devices Market

The global Endoscopy Devices market size is expected to reach USD 103.59 billion by 2032