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

Flexible Endoscopes Market Size, By Product (Video Endoscope, Fiberscope), By Application (Pulmonary Endoscopy, GI Endoscopy, Urology, ENT Endoscopy), By End-use (Clinics, Ambulatory Surgical Centers, Hospitals), Industry Analysis Report, Regional Outlook, Covid-19 Impact Analysis, Application Potential, Competitive Market Share & Forecast, 2022 - 2030

Propelled by rapid technological advancement, the flexible endoscopes market is likely to showcase strong expansion through 2030. Additionally, rising burden of chronic diseases would enhance the demand for new diagnostic technologies in the field of pathology, which is anticipated to further fuel industry growth over the forecast timespan.

Recently, widespread integration of advanced technologies viz., artificial intelligence (AI), coupled with improvements in 3D and 4K imaging in robotic endoscopy, has positively impacted product outlook. Moreover, key companies are mainly focusing on strengthening their business footprint through the introduction of novel, certified products.

For instance, in November 2019, Olympus Corporation, an optical products specialist, received FDA approval for the Evis Exera III Duodenovideoscope Olympus TJF-Q190V for endoscopy and endoscopic surgery in the duodenum. This move enabled the firm to fortify its position in the global market landscape and increase its revenue.

For comprehensive assessment, the flexible endoscopes market has been segmented by product, application, end-use, and region. On the basis of product, the market has been divided into video endoscope and fiberscope.

The fiberscope segment is likely to witness notable growth through the analysis period. The increasing burden of gastrointestinal disorders like ulcers is expected to stimulate the need for endoscopy procedures to examine the GI tract, using devices such as fiberoptic cameras. The usage of flexible fiberoptic endoscopes in procedures such as endoscopic retrograde cholangiopancreatogram is projected to also increase for treating problems of the pancreatic and bile duct.

In terms of application, the flexible endoscopes market has been bifurcated into urology, pulmonary endoscopy, ENT endoscopy, GI endoscopy, and others. The ENT endoscopy segment is set to amass considerable profits by 2030 due to mounting number of adults diagnosed with sinusitis.

Based on end-use, the flexible endoscopes industry has been segregated into hospitals, clinics, and ambulatory surgical centers. The ambulatory surgical centers segment is primed to depict a robust CAGR between 2022 and 2030 as these centers provide convenient, high-quality, and same-day surgery at low costs as compared to hospitals. Surging inclination toward minimally invasive techniques to treat various health conditions, along with the growing prevalence of gastrointestinal diseases, is foreseen to bolster product penetration across ambulatory surgical centers.

Regionally, the Middle East & Africa (MEA) flexible endoscopes market is expected to record substantial revenue by 2030 on account of soaring occurrences of cancer and increased spending on healthcare sectors in prominent nations like the United Arab Emirates. To cite an instance, in August 2022, MAG Group Chairman Moafaq Ahmed Al Gaddah pledged USD 2.7 million to support the UAE’s establishment of the Hamdan Bin Rashid Cancer Charity Hospital for cancer patients. The charity hospital was purposed to provide ambulatory, outpatient, and diagnostic services as well as inpatient surgical services. Such developments are speculated to be lucrative for manufacturers in the MEA region.