Endoscopy Visualization Systems Market Share, Size, Trends, Industry Analysis Report, By Product (Endoscopy Visualization Systems and Endoscopy Visualization Components); By Resolution Type; By Region; Segment Forecast, 2023 - 2032
- Published Date:Jun-2023
- Pages: 112
- Format: PDF
- Report ID: PM1968
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global endoscopy visualization systems market was valued at USD 24,573.4 million in 2022 and is expected to grow at a CAGR of 7.4% during the forecast period.The growing need for next-generation endoscope visualization systems is one of the key driving factors that boost the growth of the global market. Furthermore, rising obesity rates, technological advancements, better reimbursement status, a growing elderly population, and increased associated diseases are prime factors favoring the endoscopy visualization systems market growth.
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Growing awareness of physicians and patients towards using and treating modern endoscopy technologies due to the multiple benefits these systems provide is also boosting the market growth for visualization systems. Similarly, a significant rise in the aged population susceptible to ophthalmic, gastrointestinal, and orthopedic ailments and cancer is driving market expansion over the projected timeframe.
The increasing adoption of endoscopy procedures will give a significant boost to the growth of the endoscopy visualization systems market. Endoscopy procedures are associated with many medical benefits. In the U.S. alone, more than 17 million, and in the U.K., approximately 2 million operations are conducted yearly.
The COVID-19 pandemic is expected to slow down the growth of the global market during the forecast period, owing to the postponement of elective surgeries across the globe. Nearly 28 million elective surgeries were canceled during the pandemic.
Several reports indicate that half a million endoscopy procedures related to diagnosing gastrointestinal and colorectal cancers were postponed during the pandemic. The market is expected to see upward growth once the pandemic stabilizes in the second half of the forecast period.
Industry Dynamics
Growth Drivers
The growing preference for endoscopy procedures over open surgeries is attributed to their numerous advantages, including minimal invasiveness, reduced post-surgical complications, and faster recovery. These benefits make them particularly suitable for the geriatric population, who are more susceptible to complications associated with traditional surgeries. In 2019, the global population of individuals aged 65 years and above was approximately 700 million, and this number is projected to reach 1.5 billion by 2050. As the geriatric population expands rapidly, there will be an increased demand for endoscopy procedures in the coming years.
Companies are actively pursuing product launches and acquisitions to seize the opportunities presented by this rising demand for visualization systems in endoscopy. For example, in April 2020, Olympus introduced the EVIS X1, a state-of-the-art system designed specifically for gastrointestinal disorder screening. The EVIS X1 incorporates advanced features like Red Dichromatic Imaging (RDI), Narrow Band Imaging (NBI), Texture and Color Enhancement Imaging (TXI), and Extended Depth of Field (EDOF). Similarly, in 2019, Intuitive Surgical made a significant acquisition by acquiring the robotic endoscope business of Schölly Fiberoptic. Intuitive Surgical is a prominent player in developing visualization systems tailored for endoscopy procedures.
Report Segmentation
The market is primarily segmented based on product, resolution type, and region.
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By Product |
By Resolution Type |
By Region |
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The endoscopy visualization systems segment generated the highest market revenue in 2022
The endoscopy visualization systems segment generated the highest market revenue in 2022. This is due to technological innovations that have improved imaging capabilities. The major market players, such as FUJIFILM Holdings Corporation, Olympus Corporation, and many others, are concentrating on offering next-generation systems, helping the industry's growth. For instance, Fujifilm Corporation unveiled the ELUXEO Surgical System in July 2020, allowing superior visualization while executing rigid and flexible procedures from a single tower.
The endoscopy visualization components segment is expected to grow steadily during the forecast period. The growing elderly population and the increasing number of endoscopy treatments drive the segment's market growth.
According to WHO forecasts, the number of cases of gastric cancer is expected to surpass 1.4 million by 2030. This is expected to boost segment growth. Furthermore, the increasing investments by manufacturers to introduce enhanced visualization components will further drive the segment's market growth.
The 4K segment dominated the market in 2022
The 4K segment dominated the market and generated the highest revenue in 2022. The segment is expected to grow significantly during the projected period. Images with 4K resolution have higher color repeatability than images with full H.D. resolution, enabling more surgical efficiency and more straightforward detection of the boundaries within blood vessels, lymph, nerves, and other structures. Additionally, monitors with 4K resolution may be observed even closer without spotting the individual pixels. All these benefits of 4K are propelling the market segment forward.
Furthermore, 4K monitors are the most expensive compared to full H.D. monitors. As a result, FHD resolution is a cost-effective option, particularly in emerging economies. This, coupled with the medicines' widespread availability and growing awareness among the patient group, is fueling the segment's growth in the visualization systems industry.
North America dominated the global market in 2022
During the forecast period, North America will be the most significant region for the global market for endoscopy visualization systems. The speedy adoption of minimally invasive surgical procedures, the rising rates of colorectal and gastric cancer, and the increasing need for improved diagnostic tools are some factors that influence the market revenue for visualization systems in the region.
In 2021, the American Cancer Society predicted that around 45,230 new cases of rectal cancer and 104,270 new cases of colon cancer would be diagnosed in the U.S. alone. The rising number of cancer cases and the availability of reimbursement facilities will further fuel the region's prospects.
During the forecast period, the Asia Pacific endoscopy visualization systems industry is expected to be the fastest-growing region for the global market, owing to increased government and private sector investment in countries like China and India. The growing geriatric population in the region and the strategic presence of dominant industry players will also favor the region's growth in visualization systems.
Competitive Insight
Some of the major players operating in the global market include Stryker Corporation, Boston Scientific Corporation, Ethicon U.S., LLC, Richard Wolf GmbH, Medtronic, Smith & Nephew plc, CONMED Corporation, Pentax Medical, Machida Endoscope Co., Ltd., FUJIFILM Holdings Corporation, Karl Storz GmbH & Co. KG., and Olympus Corporation.
Recent Developments
- in September 2020, Laborie Medical Technologies (LABORIE) and Signet Healthcare Partners joined forces to acquire GI Supply, an esteemed provider of specialty endoscopy and paracentesis products. This strategic acquisition aims to facilitate the expansion of both companies' product portfolios.
- In July 2020, FUJIFILM Medical Systems introduced the ELUXEO Surgical System, an advanced imaging platform boasting 4K UHD and Full HD capabilities. This cutting-edge system also incorporates a wireless monitor system, enhancing its functionality and versatility.
Endoscopy Visualization Systems Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 26,345.12 million |
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Revenue forecast in 2032 |
USD 50130.4 million |
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CAGR |
7.4% from 2023 – 2032 |
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Base year |
2022 |
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Historical data |
2019 – 2021 |
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Forecast period |
2023 – 2032 |
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Quantitative units |
Revenue in USD million/billion and CAGR from 2023 to 2032 |
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Segments Covered |
By Product, By Resolution Type, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key Companies |
Stryker Corporation, Boston Scientific Corporation, Ethicon U.S., LLC, Richard Wolf GmbH, Medtronic, Smith & Nephew plc, CONMED Corporation, Pentax Medical, Machida Endoscope Co., Ltd., FUJIFILM Holdings Corporation, Karl Storz GmbH & Co. KG., and Olympus Corporation. |
FAQ's
The global endoscopy visualization systems market size is expected to reach USD 50,130.4 million by 2032.
Top market players in the Endoscopy Visualization Systems Market are Stryker Corporation, Boston Scientific Corporation, Ethicon U.S., LLC, Richard Wolf GmbH, Medtronic, Smith & Nephew plc, CONMED Corporation, Pentax Medical, Machida Endoscope Co., Ltd.
North America contribute notably towards the global Endoscopy Visualization Systems Market.
The global endoscopy visualization systems market expected to grow at a CAGR of 7.4% during the forecast period.
The Endoscopy Visualization Systems Market report covering key segments are product, resolution type, and region.
