China Endoscopy Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

China Endoscopy Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

China's Endoscopy Devices Market is expected to grow at a CAGR of 6.5% over the forecast period (2022-2027).

The COVID-19 pandemic has resulted in a global crisis. Surgeons and patients visiting hospitals for various treatments were at increased risk of getting infected by COVID-19. The reduction and postponement of elective surgeries due to the fear of COVID-19 infection have majorly impacted the growth of the market for endoscopy devices. Another major reason for the decline in endoscopy procedures during the COVID-19 pandemic was a decrease in patient volume in hospitals, owing to rescheduling and delaying of procedures for safety reasons. All these factors are anticipated to impact the endoscopy devices market as well in the future. The growing preference for minimally invasive surgeries, increasing use of endoscopy for treatment and diagnosis, and technological advancements leading to enhanced applications are the major factors driving China's endoscopy devices market.

Endoscopic surgeries are performed for imaging procedures and minor surgeries. A growing preference for minimally invasive surgeries, the increasing use of endoscopy for treatment and diagnosis, and technological advancements leading to enhanced applications are the major factors that are leading to the growth of the market. According to the 2020 census figure, there are approximately 264 million people in China in the age group of 60 and overage. For instance, in 2022, World Health Organization (WHO) reported that the population of people over 60 years old in China is projected to reach 402 million by 2040 people which will be28% of the current population, due to longer life expectancy and declining fertility rates. As the aged population is more prone to chronic diseases such as cardiovascular, respiratory, and neurological diseases which will boost the market over the forecast period.

Endoscopy allows both operations on more fragile patients, notably the elderly, and the treatment of more complex diseases, such as cancer. Other benefits of endoscopy include reduced post-operative pain and risks of complications, rapid healing, lighter anesthesia, and a shorter period of hospital stay. Surgery, interventional radiology, and advanced endoscopy have all developed minimally invasive techniques to effectively treat a variety of diseases and to bring about a positive impact on patients' postoperative outcomes. growing awareness among the Chinese population about minimally invasive procedures and the rising prevalence of chronic diseases across the country are boosting the demand for endoscopy devices.

Rapid development in GI endoscopy has been made in mainland China, and major diagnostic endoscopes and therapeutic endoscopy procedures are predominantly used in large endoscopy units. In addition to improvement in GI endoscopy equipment, standard procedures including the standard reprocessing for endoscopy is driving this market segment in the region. For instance, in 2021, HOYA Group’s PENTAX Medical and Jiangsu Vedkang Medical Science and Technology formed a joint venture (JV) to create single-use, flexible medical endoscopic therapeutic products. These devices could benefit patients, physicians, and medical care systems by reducing the cost or complexity of procedures. This could also result in improved recovery time for patients.

Therefore, the aforesaid mentioned reasons may drive China’s endoscopic devices market. However, the infections caused by a few endoscopes may slow down the market growth, which may slow down the market.

Key Market TrendsCapsule Endoscopy Segment is Expected to Witness Rapid Growth Over the Forecast Period in the China Endoscopy Devices Market

Capsule endoscopy is an effective, automatic, simple, and painless method of imaging the mucosa of the digestive tract. It has numerous potential applications and a rising role in digestive pathological examination.

The market for capsule endoscopy in China is expected to be driven by the technological advancements that are adopted by medical professionals in China, and an increasing number of new players that are expanding the business in the Chinese market. The introduction of technologically advanced features, such as Wi-Fi-enabled small bowel capsules, featuring longer battery life, is further expected to drive the demand for capsule endoscopy devices.

The usage of a capsule endoscopy not only makes patients’ visits to the hospitals/clinics more comfortable but also lowers the examination costs while offering proper treatment. A capsule endoscope is designed to be disposable after use. This eliminates any possibility of in-hospital infection, as in the case of conventional endoscopy. At present, capsule endoscopy and enteroscopy are the preferred methods to examine the small bowel, in most situations.

Technological advancements like the use of AI-assisted tools in capsule endoscopy are also driving this market segment. Artificial intelligence (AI) has revolutionized the diagnosis of gastrointestinal endoscopy, including capsule endoscopy. For instance, in 2020 an article titled, "Real-time identification of gastric lesions and anatomical landmarks by artificial intelligence during magnetically controlled capsule endoscopy" reported that 856 patients were treated at Changhai Hospital, China using Smart Data Service System Artificial Intelligence (SDSSAI), with 97.8% accuracy for fundus region. Smart Data Service System Artificial Intelligence (SDSS-AI) is a promising tool for real-time diagnosis and localization of gastric lesions in magnetically controlled capsule endoscopy (MCE) examination and aids physicians in improving lesion detection and avoiding blind spots.

Thus, due to the above-mentioned aforesaid reasons, the segment is reported to show significant growth over the forecast period.

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Competitive Landscape

The China Endoscopy Devices Market is consolidated competitive. The various global, as well as local companies, are into the business. The major share of the market is grabbed by the global companies whereas, local companies are also throwing immense competition to gain the market share. With the growing technological advancements, it is believed that China will witness more companies penetrating in this market.

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