Endoscopy Visualization Systems Market Size Worth $33.8 Billion By 2028 | CAGR: 6.9%

The global endoscopy visualization systems market size is expected to reach USD 33.89 billion by 2028 according to a new study by Polaris Market Research. The report “Endoscopy Visualization Systems Market Share, Size, Trends, Industry Analysis Report, By Product; By Resolution Type (4K, FHD Resolution); By Region; Segment Forecast, 2021 - 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The factors such as increasing cases of colon cancer, rapidly rising geriatric population across the globe, and increase in adoption of endoscopy are expected to be the major driving forces behind the market's growth. The development of next-generation innovative visualization systems will further boost the market growth.

Endoscopy procedures are used in the diagnosis and treatment of colorectal cancer (CRC). CRC was diagnosed in around 1.9 million people globally, and the numbers are expected to reach 2.2 million cases per year by 2030. This increase in cancer cases will increase the need for endoscopy procedures.

Similarly, endoscopy procedures are adopted more in older patients due to the faster recovery time, more minor complications, and minimally invasive nature. More than 17 million endoscopic procedures are conducted in the U.S. alone every year. In 2020, 700 million people aged 65 or above lived worldwide, and the number is anticipated to double in the next three decades. All these factors are expected to favor the market growth cumulatively.

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Endoscopic procedures are extensively used to diagnose and treat various diseases such as gastrointestinal disorders, pancreatic abnormalities, colorectal cancer, gynecological, urological, and respiratory problems. 4K technology is widely used due to its superior color reproducibility that will be useful for surgeons during surgery. Recently, in January 2021, KARL STORZ announced the development of the IMAGE1 S Rubina multimode visualization system that features enhanced fluorescence-guided imaging along with 4K resolution technology.

COVID-19 is expected to hinder the market's growth during the forecast period since hospitals across the globe are postponing elective surgeries. In the U.K. alone, there is a backlog of 1.5 million endoscopic procedures due to the pandemic, and globally 28 million elective surgeries were postponed.

Industry participants such as Boston Scientific Corporation, CONMED Corporation, Ethicon US, LLC, FUJIFILM Holdings Corporation, Karl Stroz GmbH & Co. KG, Machida Endoscope Co., Ltd, Medtronic, Olympus Corporation, PENTAX Medical, Richard Wolg GmbH, Smith & Nephew plc, and Stryker, are some of the key players operating in the global visualization system market.

Many new developments such as acquisitions, funding, and innovative product launches are shaping the industry. For instance, Erbe Elektromedizin acquired Maxer Endoscopy in April 2021. Scivita Medical, a China-based medical device manufacturer, received Series A funding of USD 61.6 Bn to develop endoscopes and related technologies.

Polaris market research has segmented the endoscopy visualization systems market report on the basis of product, resolution type, and region:

Endoscopy Visualization Systems, Product Outlook (Revenue - USD Million, 2016 - 2028)

• Endoscopic Visualization Systems
  
  • Standard Definition (SD)
    
    • 2D systems
    • 3D systems
  • High Definition (HD)
    
    • 2D systems
    • 3D systems
• Endoscopy Visualization Components
  
  • Camera Heads
  • Insufflators
  • Light Sources
  • High-Definition Monitors
  • Suction Pumps
  • Video Processors

Endoscopy Visualization Systems, Resolution Type Outlook (Revenue - USD Million, 2016 - 2028)

• 4K
  
  • UHD Resolution
  • DCI Resolution
• FHD Resolution

Endoscopy Visualization Systems, Regional Outlook (Revenue - USD Million, 2016 - 2028)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Austria
  • Netherlands
• Asia Pacific
  • China
  • Japan
  • India
  • Indonesia
  • Malaysia
  • South Korea
• Latin America
  • Brazil
  • Argentina
  • Mexico
• Middle East & Africa
  • Israel
  • Saudi Arabia
  • South Africa
  • UAE