Endoscopy Devices Market Forecasts to 2028 – Global Analysis By Hygiene (Single-Use, Sterilization), Technology Fiber, Video), End User (Orthopedic Surgeons, Hospitals) and By Geography

Endoscopy Devices Market Forecasts to 2028 – Global Analysis By Hygiene (Single-Use, Sterilization), Technology Fiber, Video), End User (Orthopedic Surgeons, Hospitals) and By Geography

According to Stratistics MRC, the Global Endoscopy Devices Market is accounted for $35.77 billion in 2021 and is expected to reach $54.14 billion by 2028 growing at a CAGR of 6.1% during the forecast period. Endoscopy is a minimally invasive medical procedure that diagnoses prevent and treats the complications associated with the visceral organs. Endoscopes are used in this procedure to examine interior hollow organs or cavities in the body. The device is either placed in the body through natural openings or cavities (such as anus and mouth) or through incisions, especially in the case of arthroscopy. Endoscopy devices are equipped with several other parts such as a camera or light source at the tip of endoscopes that help physicians or medical professionals (endoscopists) to analyze the internal organs of interest. Endoscopy may be used to investigate symptoms in the digestive system, including nausea, vomiting, abdominal pain, difficulty swallowing, and gastrointestinal bleeding.

Market Dynamics:

Driver:

Growing Occurrence of Long-lasting Diseases

The growth of the market is encouraged by the growing incidence of chronic diseases, the development of endoscopy technologies, and expanded support and coverage for endoscopic screening and care. Additionally, the rising geriatric population around the world is having a significant effect on the demand for endoscopic products. As older people, due to lower immunity, which in turn complicates medical and treatment choices, they are more vulnerable to health issues such as ophthalmic disorders, gastrointestinal problems, orthopaedic diseases, cancer and several others. Increased preference for minimally invasive and global endoscopic procedures is key factors that fuel endoscopy system demand. Moreover, the growing success of minimally invasive surgery is also providing an immense opportunity for business expansion. Furthermore, the use of endoscope and visualisation technologies in healthcare settings has increased, coupled with technological advancements also boosts the endoscopy devices market growth.

Restraint:

Strict Regulatory Policies

The business development may be affected by diseases and complications caused by its products. It is likely that policy reforms would increase the costs associated with new product creation and service offerings to consumers. The possible loss of sales due to the delay in release of the product and the increased costs incurred due to strict approval procedures put pressure on investments related to the production of new products, thereby impacting the growth of the market.

Opportunity:

Flourishing Healthcare Sector

Brazil, Russia, India, China, and South Africa (BRICS) are among the fastest-growing economies in the world. According to World Economic Forum, the emerging economies accounted for around one-third of the global healthcare expenditure in 2020. More than half of the world’s population resides in India and China owing to which these countries are home to the highest number of patients. The increasing burden of cancer, rapid improvements in healthcare infrastructure, the rapid growth of medical tourism, as well as the presence of flexible regulation in these countries encourage players in the endoscopy equipment market to expand their presence in emerging countries. Currently, several endoscopy equipment manufacturers are setting up their facilities in Asia Pacific, the Middle East, and Latin America. Key players have already set up their manufacturing and R&D facilities in these countries. endoscopy equipment manufacturers to focus on emerging markets in the coming years.

Threat:

Lack of Skilled Doctors and Endoscopists

The shortage of trained professionals in endoscopy is also expected threat the Market growth. Trained professionals are required to effectively conduct endoscopy procedures for preventing the spread of infections in endoscopy facilities. The shortage of skilled endoscopy physicians and nurses in major regions is expected to negatively impact several endoscopy procedures carried out per year globally.

Gynecologic, and Pelvic Organ Conditions segment is expected to be the largest during the forecast period

The high growth of the segment is due to the fact that the gynaecologic laparoscopic procedure is one of the common, minimally-invasive procedures performed to obtain a clear picture of the pelvic region. Uterus, ovaries, and fallopian tubes can be examined with a pelvic laparoscopy. These devices are also used for the removal of fibroids, uterus, ovarian cysts, and lymph nodes, for an ectopic pregnancy, and for the detection of cancer of the ovary, uterus, and cervix. Therefore, with the rising burden of gynaecologic cancer and the rising demand for these devices, the market is expected to witness rapid growth, over the forecast period.

The Hospitals segment is expected to have the highest CAGR during the forecast period

Hospitals are generally considered as primary health systems and the increase in preference of hospitals for the diagnosis and treatment of chronic disorders by the patient population is also fuelling the segment growth. Additionally, a large number of surgeries performed in hospitals including endoscopy procedures also increase the endoscopy devices adoption thereby supporting segment growth.

Region with highest share:

The Asia Pacific is projected to hold the highest market share, due to the larger number of developing countries in this province, such as countries such as India and China. The growth of the healthcare domain is supported by these countries. Additionally, the rising population of patients with cancer and gastrointestinal disorders in developed countries will directly raise the need for new types of diagnosis and treatment, which, in turn, will fuel business growth. The growing economies of India and China are expected to be notable contributors in this area. This can be attributed to strong economic growth, rising prevalence of cancer, developing healthcare infrastructure, and increasing demand for advanced diagnostic therapies. In addition, growing demand for the minimally invasive endoscopic procedure and improving health care infrastructure are also anticipated to accelerate the region's growth in the market. Moreover, increasing government initiatives to modernize healthcare facilities and constantly develop a start-up landscape are among the major factors further promoting the growth of the market in the province

Region with highest CAGR:

North America is projected to have the highest CAGR; the growth of this province is attributed to a rise in the prevalence of chronic diseases linked with an increase in the geriatric population, a high adoption rate of technologically superior endoscopy devices, and high awareness about the benefits of endoscopy interventions. Additionally, well-established healthcare infrastructure in the region and easy accessibility is augmenting the demand for endoscopic devices. Moreover, advancements in various surgical devices in the U.S. from established companies are contributing to the market growth in the country. Furthermore, increasing healthcare expenditure in the country has increased the number of endoscopic procedures in the country. This is attributed due to the growing prevalence of several chronic diseases such as cancer, diabetes, cardiovascular diseases along functional gastrointestinal disorders. In addition, the increasing geriatric population, those who are prone to several chronic disorders also propelling the adoption of endoscopic procedures in this region. Moreover, growing awareness for early disease diagnosis using minimally invasive procedures and improved healthcare infrastructure are further boosting the market growth in this province.

Key players in the market:

Some of the key players profiled in the Endoscopy Devices Market include Boston Scientific Corporation, Cantel Medical , Cogentix Medical, Ethicon Endo-surgery, LLC., FUJIFILM Holdings Corporation, Integrate Endoscopy, Interscope Inc., J&J Services Inc. , Karl Storz GmbH & Co. KG, Machida Endoscope Co., Ltd., Medtronic Plc (Covidien), Micro-Tech Endoscopy, Olympus Corporation, PENTAX Medical, Richard Wolf GmbH, Smith & Nephew Inc., Stryker Corporation.

Key developments:

In May 2019: FUJIFILM Corporation announced that it had built a new smart manufacturing facility in the site of FUJIFILM Techno Products Co., Ltd., which is one of Fujifilm’s production bases for endoscopy products. The new manufacturing facility is fully operational from September 2019. This new manufacturing facility will utilize AI and IoT technologies to achieve high production efficiency.

In January 2021: Olympus acquired Quest Photonic Devices B.V. to Bolster Surgical Endoscopy Capabilities The acquisition enabled Olympus to strengthen its surgical endoscopy capabilities and incorporate Quest’s advanced FIS capabilities into its comprehensive medical imaging portfolio

In May 2021: PENTAX Medical, a division of HOYA Group, announced that it has obtained a CE mark for its new single-use bronchoscope—the PENTAX Medical ONE Pulmo. The product is intended to minimize the risk of infection, improve clinical outcomes, and enhance the professional's experience and healthcare productivity within endoscopy.

Products Covered:
Endoscopes
Mechanical Endoscopic Equipment
Visualization & Documentation Systems
Accessories
Other Endoscopy Equipment

Hygienes Covered:
Reprocessing
Single-use
Sterilization

Treatment & Procedures Covered:
Abdominal
Gynecologic, and Pelvic Organ Conditions
Joint and Orthopedic Conditions
Lower Gastrointestinal Conditions
Lung and Airway Conditions
Upper Gastrointestinal Conditions
Urinary System Conditions

Technology’s Covered:
Fiber
Video

End Users Covered:
Gastroenterologists
General And Pediatric Surgeons
Obstetricians-Gynecologists (OB/GYNS)
Orthopedic Surgeons
Hospitals
Ambulatory Surgery Centers/Clinics

Regions Covered:
North America
US
Canada
Mexico
Europe
Germany
UK
Italy
France
Spain
Rest of Europe
Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
South America
Argentina
Brazil
Chile
Rest of South America
Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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