Global Endoscopy Devices Market Share, Size, Trends, Industry Analysis Report: Information By Type (Endoscopes, Endoscopy Visualization Systems, Accessories, Others), By Application, By End Use, And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast, 2024 - 2032
- Published Date:Feb-2024
- Pages: 116
- Format: PDF
- Report ID: PM1131
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
Global Endoscopy Devices Market size was valued at USD 54.30 billion in 2023. The endoscopy devices industry is projected to grow from USD 58.26 billion in 2024 to USD 103.59 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.5% during the forecast period (2024 - 2032). Endoscopy devices are instrumental in diagnosing, treating, and monitoring a wide range of medical conditions by allowing doctors to view the internal organs and structures of the body with minimal incisions. The endoscopy devices market is a rapidly growing segment within the medical devices industry. This is driven by the increasing prevalence of chronic diseases, advancements in endoscopic technology, and rising demand for minimally invasive surgeries. Moreover, Rising obesity rates are propelling the endoscopy devices market, as the global prevalence of obesity contributes to a surge in related conditions, thus enhancing endoscopy devices market growth.
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 their market presence.
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.
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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.
Endoscopy Devices Market Trends:
The Surge in Gastrointestinal Diseases is driving the market growth
Market CAGR for endoscopy devices is being driven by the surge in gastrointestinal diseases. 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 endoscopy devices market potential.
For instance, in January 2023, FUJIFILM India expanded its endoscopy solutions products for therapeutic gastrointestinal applications at ISGCON 2023. With these new technologies, FUJIFILM aims to revolutionize endoscopic applications in cancer-related gastrointestinal treatments. The newly launched products are Fujifilm-patented devices for ESD (Endoscopic Submucosal Dissection) and EMR (Endoscopic Mucosal Resection) procedures, designed for use with compatible endoscopes. These endoscopy devices assist clinicians in performing effective ESD interventions in the digestive tract. Such advancements contribute to driving the demand for technological advancement in the endoscopy devices market.
Global Elderly Population is Expected to Drive Endoscopy Devices Market Growth
The endoscopy devices market is experiencing significant growth, driven by the expanding global elderly population. 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 and 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.
The increasing burden of chronic diseases and the growing geriatric population worldwide are expected to drive the adoption of endoscopic devices in the coming years. Medical conditions common in older people, such as liver abscesses, gallstones, endometriosis, and intestinal perforations, often require endoscopic intervention, thereby boosting the endoscopic devices market demand.
For instance, according to the Administration for Community Living, which includes the Administration on Aging, people aged 65 and older made up 16% of the people in 2019. This demographic is predicted to increase to 21.6% of the population by 2040. Furthermore, the population aged 85 and older is projected to more than double, growing from 6.6 million in 2019 to 14.4 million by 2040. This rapid growth in the aging population underscores the urgency of preparing for the increased need for endoscopic interventions, thereby driving the endoscopy devices market revenue.
Endoscopy Devices Market Segment Insights:
Endoscopy Devices Type Insights:
The global endoscopy devices market segmentation, based on type, includes endoscopes, endoscopy visualization systems, accessories, and others. The endoscopes segment held the largest 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. Outpatient procedure feasibility, shorter hospital visits, and faster recovery times characterize the patient-centric advantages of endoscopes, underscoring their pivotal role in modern medicine.
For instance, in February 2024, a division of HOYA Group PENTAX Medical received CE remarks for latest models in its PENTAX Medical i20c Video Endoscope Series. These include the R/L Knob Adaptor OE-B17, PENTAX Medical Video Upper GI Scope EG27-i20c, and Colonoscope EC34-i20c. These collectively contribute to the dominance of the endoscopes segment in the endoscopy devices market, making it a critical component of the healthcare sector.
Endoscopy Devices Application Insights:
The global endoscopy devices market segmentation, based on application, includes laparoscopy, bronchoscopy, otoscopy, arthroscopy, urology endoscopy, gastrointestinal endoscopy and others. In 2023, the gastrointestinal endoscopy segment accounted for the largest share in endoscopy devices market. Endoscopy devices, equipped with high-definition cameras, ensure diagnostic precision by offering real-time, detailed views of the gastrointestinal tract. These devices support minimally invasive procedures, which reduces patient discomfort and enables 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.
The company’s ongoing technological advancements enhance imaging, maneuverability, and integration with artificial intelligence, contributing to higher diagnostic accuracy. The rising aging population susceptible to gastrointestinal disorders, the outpatient feasibility, and the growing emphasis on preventive healthcare further propel the demand for these versatile devices.
For instance, In May 2023, Olympus Corporation, a global leader in designing and delivering innovative solutions for medical and surgical procedures, announced FDA clearance for the new EVIS X1 endoscopy system. This system includes two compatible gastrointestinal endoscopes: the GIF-1100 gastrointestinal videoscope, designed for use within the upper digestive tract including the esophagus, stomach, and duodenum, and the CF-HQ1100DL/I colonovideoscope, intended for use within the lower digestive tract including the anus, rectum, sigmoid colon, colon, and ileocecal valve. Olympus GI endoscopy systems assist physicians in diagnosing, treating, and observing diseases and disorders of the upper and lower GI tract such as acid reflux, ulcers, Crohn's disease, Celiac disease, and colorectal cancer. Such advancements and approvals significantly contribute to the growth of the endoscopy devices market.
Global Endoscopy Devices Market, Segmental Coverage, 2019 - 2032 (USD Billion)
Source: Secondary Research, Primary Research, PMR Database and Analyst Review
Endoscopy Devices Regional Insights:
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. In 2023, the North America region accounted for the largest share of the endoscopy devices market. North America is at the forefront of adopting advanced medical technologies. The region boasts a significant number of leading endoscopy device manufacturers and research institutions that continuously innovate and introduce cutting-edge endoscopic equipment. The increasing incidence of chronic diseases such as gastrointestinal disorders, colorectal cancer, and respiratory conditions drives the demand for endoscopic procedures. Early diagnosis and minimally invasive treatments are crucial in managing these conditions, thereby boosting the market for endoscopy devices.
The key market players are merging, acquiring, and collaborating to strengthen their market presence and offer better offerings in North America, further driving the market during the forecast period.
The United States endoscopy devices market held the largest market share in 2023. The 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. The region's robust healthcare infrastructure and favorable reimbursement policies further support the widespread adoption of advanced endoscopy technologies.
For instance, in November 2019, PENTAX Medical launched its DEC HD Duodenoscope in the U.S., featuring high-definition imaging and disposable components like a sterile distal cap and elevator lever. Aligned with FDA guidance on endoscope reprocessing, the DEC HD aims to enhance clinical outcomes, reduce care costs, and improve physician and patient experiences. Its recent FDA clearance supports its U.S. market introduction, addressing the demand for advanced, hygienic solutions in endoscopic retrograde cholangiopancreatography (ERCP) procedures and contributing to growth in the U.S. endoscopy devices market.
GLOBAL ENDOSCOPY DEVICES MARKET, REGIONAL COVERAGE, 2019 - 2032 (USD Billion)
Source: Secondary Research, Primary Research, PMR Database and Analyst Review
The Canadian endoscopy devices market held a significant market share due to its well-developed healthcare system with advanced medical facilities and high demand for medical devices, including endoscopy equipment. Canadian healthcare providers often launch endoscopic solutions to improve patient outcomes and operational efficiency.
For instance, in November 2022, PENTAX Medical unveiled its latest offering, the Performance Endoscopic Ultrasound (EUS) system, in Canada. This innovative system integrates the advanced ARIETTA 65 PX ultrasound scanner with its renowned J10 Series Ultrasound Gastrscopes, aiming to set new standards in endoscopic ultrasound technology.
Further, Asia Pacific endoscopy devices market 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, further contributes to the industry's expansion in the region.
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.
China's endoscopy devices market held the largest market share in 2023, driven by a demographic shift towards an aging population. On the other hand, the India endoscopy devices market is experiencing rising healthcare expenditures, driven by economic growth and increasing public and private investments in healthcare infrastructure. It is expected to continue its steady growth during the forecast period.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, Brazil, and others.
Endoscopy Devices Key Market Players & Competitive Insights
Leading market players in endoscopy devices involve 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 market developments and strategic actions, including forging partnerships, improving products, and participating in collaborative ventures, all with the goal of outperforming their counterparts in the industry aim to secure a substantial endoscopy devices industry share.
In recent years, the endoscopy devices industry has offered some technological advancements. Major players in the endoscopy devices market, including Arthrex, Inc., B. Braun Melsungen AG, Cook Medical, Boston Scientific Corporation, Fujifilm Holdings Corporation, KARL STORZ SE & Co. KG, Hoya Corporation, Johnson & Johnson, Medtronic plc, Olympus Corporation, Richard Wolf GmbH, PENTAX Medical, Shanghai Aohua Photoelectricity Endoscope Co., Ltd., STERIS, Stryker Corporation.
Boston Scientific Corporation is a medical equipment manufacturing company dedicated to creating innovative medical solutions that enhance the well-being of patients globally. The company offers a wide range of groundbreaking solutions for diverse health conditions, including medical specialties, including electrophysiology products, gastroenterology products, interventional cardiology products, interventional radiology products, and neurological surgery products. In November 2022, Boston Scientific Corporation announced a definitive agreement to acquire Apollo Endosurgery, Inc., enhancing its portfolio with Apollo's successful endoscopic suturing system, expected to drive significant growth.
Medtronic plc is one of the world's major providers of medical equipment, solutions, and products. Medtronic was formed in 1949 and currently provides products and solutions to medical institutions, physicians, professionals, and patients in over 150 countries across the world. In April 2021, Medtronic plc obtained de novo approval from the U.S. FDA for its GI Genius intelligent endoscopy module in the United States.
Key Companies in the 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
- PENTAX Medical
- Shanghai Aohua Photoelectricity Endoscope Co., Ltd.
- STERIS
- Stryker Corporation
Endoscopy Devices Industry Developments
January 2023: FUJIFILM India has announced the addition of ClutchCutter and FushKnife to its array of endoscopy solutions. 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.
July 2020: Hitachi, Ltd. and HOYA Corporation revealed a five-year agreement focusing on Endoscopic Ultrasound Systems (EUS). Under this agreement, the companies will enhance technical collaboration, and Hitachi will continue supplying diagnostic ultrasound systems and ultrasound sensor-related parts essential for EUS.
August 2021: FUJIFILM Medical Systems has launched the ELUXEO 7000X System. This advanced video imaging technology allows real-time visualization of tissue hemoglobin oxygen saturation (StO2) levels using laparoscopic and endoluminal imaging. This system represents an enhancement to the company’s existing ELUXEO Endoscopic Imaging System.
Endoscopy Devices Market Segmentation:
Endoscopy Devices Type Outlook
- Endoscopes
- Endoscopy Visualization Systems
- Accessories
- Others
Endoscopy Devices Application Outlook
- Laparoscopy
- Bronchoscopy
- Otoscopy
- Arthroscopy
- Urology Endoscopy
- Gastrointestinal Endoscopy
- Others
Endoscopy Devices, End Use Outlook
- Hospitals
- Outpatient Facilities
- Others
Endoscopy Devices Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Vietnam
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
Endoscopy Devices Report Scope:
|
Report Attributes |
Details |
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Market size value in 2023 |
USD 54.30 billion |
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Market size value in 2024 |
USD 58.26 billion |
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Revenue Forecast in 2032 |
USD 103.59 billion |
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CAGR |
7.5% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments covered |
|
|
Regional scope |
|
|
Competitive Landscape |
|
|
Report Format |
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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
The gastrointestinal endoscopy accounted for the largest share in the global market
