Rigid Endoscopes Market Size, Share & Trends Analysis Report By Product (Laparoscopes, Arthroscopes, Bronchoscopes, Cystoscopes), By End-use (Hospitals, Outpatient Facilities), By Region, And Segment Forecasts, 2023 - 2030

Rigid Endoscopes Market Size, Share & Trends Analysis Report By Product (Laparoscopes, Arthroscopes, Bronchoscopes, Cystoscopes), By End-use (Hospitals, Outpatient Facilities), By Region, And Segment Forecasts, 2023 - 2030

Rigid Endoscopes Market Growth & Trends

The global rigid endoscopes market size is expected to reach USD 10.3 billion by 2030, registering a compound annual growth rate (CAGR) of 7.3% over the forecast period, according to a new report by Grand View Research, Inc. High demand for minimally invasive procedures over open surgeries is one of the factors driving the market's expansion. The high burden of cancer, gynecological disorders, urothelial disorders, and others are contributing to the demand for surgeries, further supporting the demand for rigid endoscopes in the market.

The COVID-19 pandemic had a negative impact on the market owing to the cancellation and decline in elective procedures during the pandemic. The supply chain interruptions in the pandemic further hampered the market. However, in the post-pandemic period, elective surgeries were resumed. This is expected to have improved the demand for rigid endoscopes in the post-pandemic period.

Aging is one of the major causes of chronic diseases such as cancer, bone diseases, kidney problems, and others. According to the WHO, in 2020, over 1 billion people were aged 60 years, and above and by 2050, this number is expected to rise to 2.1 billion. The surge in the geriatric population is expected to improve the number of surgeries and thus support the demand for rigid endoscopes across the forecast.

The market is also growing due to the high preference among medical professionals for using endoscopic devices that have high-definition camera as they assist doctors in obtaining organs of interest. The preference for minimally invasive surgical techniques over standard surgeries, greater patient satisfaction, enhanced economic viability, and shorter hospital stays are expected to support the demand for endoscopic surgeries and thus support the market of rigid endoscopes.

Rigid Endoscopes Market Report Highlights

• Based on the product segment, laparoscopes dominated with a share of 27.0% in 2022, owing to the high prevalence of gastrointestinal and gynecological diseases such as endometriosis worldwide
• In 2022, based on end use segment, outpatient facilities accounted for the highest revenue share of 53.2%. This high share is attributable to the significant number of endoscopic surgeries conducted in outpatient facilities, which is supporting the segment market growth. The outpatient facilities are also expected to witness the fastest growth over the forecast period from 2023 to 2030
• North America dominated the market in terms of the revenue share of 41.8% in 2022 due to the presence of advanced healthcare infrastructure and the high burden of chronic diseases in the region
• The Asia Pacific region is expected to witness the fastest growth over the forecast period owing to a surge in the geriatric population in the region, which is supporting the demand for endoscopic surgeries

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