Endoscope Market

Endoscope Market Outlook (2024 to 2034)

The global endoscope market size is estimated to be valued at US$ 15,766.7 million in 2024. The adoption of endoscope is likely to rise at a CAGR of 6.3% through 2034. The market is anticipated to reach US$ 29,080.5 million by 2034.

The market is expanding due to the widespread prevalence of chronic diseases, the surging geriatric population, and increasing knowledge about early diagnosis. Additionally, the rising focus of hospitals, particularly those in developed countries, is investing in technologically progressive endoscopy instruments and increasing endoscopy units. This is fueling sales of endoscopes. In line with this, relevant enhancements in endoscopic technologies for improved patient safety and more precision and reliance on treatments and diagnosis are creating heightened demand for endoscopes.

Growth Drivers for the Endoscope Market:

• High proportion of the aging population is substantially contributing to the wide prevalence of chronic diseases across the globe. Some of the commonly diagnosed diseases include cancer, gastrointestinal disorders, and cardiovascular diseases. Mass awareness about early diagnosis creates significant demand for endoscopic diagnosis and treatment.
• Rising appeal for minimally invasive surgical procedures is expanding the market demand for endoscopes. This instrument facilitates smaller incisions, fewer complications, and quicker recovery times than conventional open surgery. Thus, increasing their preference among patients and healthcare providers alike.
• Medical technology is constantly adapting to keep up with the evolving demands of the medical field. Recent advancements offer improved flexibility, functionality, and image quality, effectively diagnosing and treating various conditions. Examples of the latest innovations include robotic-assisted surgery and capsule endoscopy.
• Several countries across the globe are increasing their healthcare coverage, and raising their spending on medical technology like endoscopes. Surging efforts to improve the accessibility of better medical equipment are supporting instrument sales.
• Product demand is further uplifting due to favorable reimbursement policies offered by healthcare sectors and FDA approvals for endoscopic instruments.

Report Attributes	Details
Estimated Market Value (2024E)	US$ 15,766.7 million
Forecasted Market Value (2034F)	US$ 29,080.5 million
Global Market Growth Rate (2024 to 2034)	6.3%CAGR
Flexible Endoscopes Segment Growth Rate (2024 to 2034)	6.4% CAGR
Gastrointestinal (GI) Endoscopy Growth Rate (2024 to 2034)	6.3% CAGR
North America Market Share (2024)	38.5%
East Asia Market Share (2024)	14%
Key Companies Profiled in the Endoscope Market Report	Olympus Corp. Richard Wolf Medical Instruments CONMED Corp. Ethicon US, LLC FUJIFILM Holdings Corp. Medtronic Stryker Boston Scientific Corp. PENTAX Medical Karl Storz GmbH & Co., KG Others

Which Opportunities Promise Optimistic Outcomes for the Business of Endoscopes in the Future?

“Upsurge in Gastrointestinal Disorders Hiking the Revenues of Market Players”

Incidences of people suffering from functional gastrointestinal disorders are on a perpetual rise. These disorders primarily affect the gastrointestinal tract, including the esophagus, stomach, and intestines. To diagnose and manage this disorder among the masses, medical experts resort to endoscopic procedures, escalating sales for endoscopes.

Widespread occurrences of functional gastrointestinal disorders like Irritable Bowel Movement (IBS), functional constipation, and functional dyspepsia are projected to accelerate the adoption of endoscopy devices. Thanks to continuous increases in gastrointestinal issues, large-scale adoption of endoscopes is anticipated to assist in the substantial accumulation of revenue for leading players.

“Growing Concerns for Obesity Create an Upswing in the Uptake of Endoscopic Procedures”

Recent WHO records suggest that obesity has reached epidemic proportions due to sedentary lifestyle choices that include processed food. Obesity abets numerous gastrointestinal issues like gastroesophageal reflux disease, esophageal adenocarcinoma, colorectal polyps, erosive esophagitis, and cancer. On top of this, indigestion caused by lactose intolerance, ignorance, and improper diagnosis is increasing the need for health checkups via endoscopes.

Over the next 10 years, the obese population is projected to expand in size due to the growing adoption of unhealthy lifestyles. This propels the demand for endoscopic sleeve gastroplasty procedures as people turn to effective treatments that help shed inches from the waist. Doctors prefer endoscopes as they give precise results and enable them to prescribe effective medication. Hence, surging cases of endoscopic treatments to curb obesity are anticipated to increase sales of endoscopes.

Which Challenges Create Hurdles for Leading Players in the Endoscope Market?

“Neck-to-neck Market Competition Blocking the Entry of New Players”

Leading market players in this field deal with many challenges that can impact profitability and market progress. One such barrier to market growth is intense competition among the established players. This creates obstacles for smaller companies to compete on technology, price, and brand recognition. Entry of newcomers is further restrained because the market leaders are consolidating their position via mergers and acquisitions, making it challenging for newcomers to gain a foothold.

Country-wise Insights

The North America endoscope market is anticipated to acquire a value share of 38.5% in 2024. By 2034, the market is projected to witness sustained growth with a meager increase in value share, reaching 38.8%. Through the forecast period, the market is likely to expand at an average CAGR of 6.4%.

The East Asia market for endoscope is projected to obtain a prominent share of 14% in 2024. Registering a CAGR of 7.7% through 2034, the market is anticipated to increase to 15.9%. Value-wise, the market is forecast to expand from US$ 2,215 million in 2024 to US$ 4,629 million by 2034.

Which Factors Contribute to the Prominence of the United States in the Global Endoscope Market?

“Surging Burden of Cancer and Gastric Disorders Propelling Investments in Endoscopes”

The United States endoscope market is forecast to accelerate at a CAGR of 6.6% through 2034. In 2024, the country is projected to lead the North America market by obtaining a dominant share of 88%. The market size of the United States is anticipated to rise from US$ 5,335 million in 2024 to US$ 10,071 million by 2034.

The market is projected to be driven forward by surging adoption of elective endoscopic procedures, more healthcare expenditure, and rising functional gastrointestinal disorders. It is estimated that the growing burden of functional gastrointestinal disorders and cancer is expected to create heightened demand for endoscopes in the years to follow.

“Key Players to Foray their Business in China Due to Promising Growth Prospects”

The China endoscope market is anticipated to acquire a leading share in East Asia, with a value share of 51.3% estimated for 2024. The market value of China is forecast to reach US$ 1,136 million in 2024. By 2034, the revenues are expected to reach US$ 2,548 million, expanding at a promising CAGR of 8.4%.

Robust economic development and surging government initiatives around healthcare fuel the adoption of endoscopes. Further, ongoing technical advancements resulting in novel endoscopic equipment propel market progress. Additionally, increasing expenditure on healthcare for high-class infrastructure and surging innovations by market participants are projected to boost market expansion.

Segment-wise Insights

Based on product type, the flexible endoscopes segment is expected to take a massive market share of 60.6% in 2024. The segment is projected to expand at a CAGR of 6.4% through 2034. Based on CAGR, the robot-assisted endoscopes segment is projected to accelerate a promising CAGR of 8% through 2034.

Based on end users, the hospital segment is anticipated to acquire a massive share of 62.2% in 2024. Growth experienced by this segment is projected to be 6.3% CAGR through 2034. Within the end-user segment, the specialty clinics segment is forecast to experience a CAGR of 6.9% through 2034.

Which is the Leading Product Type?

“Flexible Endoscopes Position Themselves as the Dominant Product Type”

The flexible endoscopes segment is projected to account for a market value of US$ 9,561.0 million in 2024. By 2034, the segment is anticipated to acquire a value of US$ 17,759.4 million, expanding at a CAGR of 6.4%.

Medical professionals increasingly prefer flexible endoscopes for first-line therapy as it can be performed under the influence of sedatives. Their appeal and adoption are also increasing owing to their safety, cost-effectiveness, and high efficiency. Flexible endoscopes find applications in laparoscopy, urology, gastrointestinal endoscopy, otoscopy, etc.

Which End User Makes Massive Contribution?

“Hospitals Heavily Deploy Endoscope in its Operations”

The hospital segment is projected to account for a market value of US$ 9,811.0 million in 2024. By 2034, the segment is anticipated to witness sales worth US$ 18,015.9 million, registering a CAGR of 6.3%. Growing preference for minimally invasive surgeries, coupled with a rising count of hospitals across the globe, is augmenting the segment’s growth.

Competitive Landscape

Market players are seeking growth via more investment of funds to develop technologically advanced devices. Surging demand for various endoscopes is raising the competition among key players to widen their product portfolio and global presence. Additionally, top strategic moves, like collaborations and mergers and acquisitions, are commonly deployed by leading players to escalate their annual revenues.

Key Developments Noticed in the Endoscope Market in the Recent Period

• Olympus Corp. obtained Quest Photonic Devices B.V. in January 2021. This move increased its presence in the surgical endoscopy market with better surgical endoscopy capabilities.
• ZEISS Medical Technology, in October 2022, gained FDA approval for MTLawton, a disposable bipolar forceps composed of copper-base alloy. The device potentially decreases tissue adhesion and the following charring throughout tissue dissection.
• Smith & Nephew Plc (the United Kingdom), in July 2021, introduced a robot-assisted endoscope called Real Intelligence Suite in India. This includes the CORI Surgical System, which is a next-Gen robotics platform.

Segmentation of Endoscope Market Research

• By Product Type:

  • Rigid Endoscopes
  • Flexible Endoscopes
  • Capsule Endoscopes
  • Robot-Assisted Endoscopes

• By Application:

  • Gastrointestinal (GI) Endoscopy
  • Laparoscopy
  • Arthroscopy
  • Obstetrics/Gynecology Endoscopy
  • Urology Endoscopy (Cystoscopy)
  • ENT Endoscopy
  • Bronchoscopy
  • Mediastinoscopy
  • Others

• By Usability:

  • Reusable
  • Disposable

• By End User:

  • Hospitals
  • Ambulatory Surgery Centers
  • Specialty Clinics

• By Region:

  • North America
  • Europe
  • Latin America
  • East Asia
  • South Asia and Oceania
  • Middle East and Africa