Flexible Endoscopes Market Size By Product (Fiberscope, Video Endoscope), By Application (GI Endoscopy, Pulmonary Endoscopy, ENT Endoscopy, Obstetrics/Gynecology, Urology), By End-use (Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Reg

Flexible Endoscopes Market Size By Product (Fiberscope, Video Endoscope), By Application (GI Endoscopy, Pulmonary Endoscopy, ENT Endoscopy, Obstetrics/Gynecology, Urology), By End-use (Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Application Potential, COVID-19 Impact Analysis, Competitive Market Share & Forecast, 2022 - 2028

The flexible endoscopes market is projected to expand considerably by 2028 on account of rising awareness among patients regarding early-stage diagnosis and treatment across the globe.

Flexible endoscopy offers several advantages over rigid endoscopy, which makes it preferable. It allows access to more of the colon, provides greater comfort to the patient, and gives the endoscopist a better vision. Increasing number of patients opting for minimally invasive procedures has propelled industry uptake recently.

Notably, industry players have been implementing strategic initiatives to strengthen their foothold in evolving marketplaces, which has positively impacted the overall business dynamics. For instance, in January 2021, Olympus Corporation, a leading provider of innovative medical systems, announced the acquisition of Quest Photonic Devices B.V., a Netherlands-based medical imaging technologies provider. The deal enabled Olympus to expand its surgical endoscopy portfolio by leveraging Quest’s fluorescence imaging systems.

The flexible endoscopes market has been segmented on the basis of end-use, product, application, and region. In terms of product, the market has further been segregated into video endoscope and fiberscope. In 2021, the fiberscope sub-segment held a valuation of nearly USD 3,593 million and is slated to develop at a growth rate of around 6.5% over the projected timeline. Extensive application of fiberscope in endoscopy procedures for diagnostics and therapeutics is likely to accelerate product demand in the coming time period.

From the application perspective, the flexible endoscopes market has been divided into urology, GI endoscopy, obstetrics/gynecology, pulmonary endoscopy, ENT endoscopy, and others. The obstetrics/ gynecology sub-segment was valued at more than USD 358 million in 2021 and is speculated to expand at approximately 6.3% growth rate through the analysis period. This growth is attributed to rising incidences of gynecological disorders among women and increasing cases of gynecological cancer.

With respect to end-use, the market has been categorized into ambulatory surgical centers, hospitals, and others. The flexible endoscopes market share from the hospitals sub-segment surpassed a valuation of USD 3,212 million in 2021 and is expected to exhibit significant expansion over 2022-2028. Easy availability of board-certified skilled doctors, high success rate, and faster & more efficient work are estimated to fuel segmental growth over the forthcoming years.

On the regional front, the Latin America flexible endoscopes market reached a valuation of about USD 204 million in 2021 and is anticipated to progress at a CAGR of above 7.5% over the forecast period. Mounting prevalence of chronic diseases and growing awareness among patients regarding minimally invasive surgeries in the countries across LATAM are set to drive regional market development through the review timeframe.