Endoscopy Devices Market Analysis By Device Type (Endoscopes, Endoscopy Visualization Systems, Operative Devices), By Application (Gastrointestinal (GI) endoscopy, Arthroscopy, Laparoscopy, Bronchoscopy), By End-Use & Region - Global Forecast 2022-2032

Market Outlook of Endoscopy Devices

Global sales of Endoscopy Devices Market in 2021 was held at US$ 44.8 Bn. With 9.0%, the projected market growth during 2022 - 2032 is expected to be significantly higher than the historical growth. Gastrointestinal (GI) Endoscopy is expected to be the highest revenue generating segment, accounting for an expected CAGR of 10.0% during 2022 – 2032.

Key Points Covered in Endoscopy Devices Market Survey:

• Market Estimates and Forecasts (2017-2032)
• Key Drivers and Restraints Shaping Market Growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Market Share Analysis
• COVID-19 Impact on Endoscopy Devices Market and How to Navigate
• Recommendation on Key Winning Strategies

Revenue of Endoscopy Devices Markets from 2017 to 2021 Compared to Demand Outlook for 2022 to 2032

As per the Endoscopy Devices Market research by Fact.MR - a market research and competitive intelligence provider, historically, from 2017 to 2021, market value of the Endoscopy Devices Market increased at around 7.6% CAGR.

Some of the reasons driving market expansion include the increased frequency of age-related disorders and the rising need for endoscopic devices in therapeutic and diagnostic operations. The use of such equipment in the treatment and diagnosis of a variety of health conditions is advantageous as it allows for less intervention, thus reducing recuperation time.

Globally, the geriatric population is growing, making this age group increasingly vulnerable to medical disorders requiring endoscopic intervention, such as pelvic abscess, liver abscess, endometriosis, gall stones, and intestinal perforation.

The growing preference for less invasive procedures, the increased acceptance of endoscopes for treatment and diagnostics, and technical improvements resulting in better applications are the primary factors driving the market's rise. However, the market's expansion is hampered by scarcity of qualified technicians and infections induced by a paucity of endoscopes.

Endoscopy enables procedures on more frail patients, such as the elderly, as well as the treatment of more difficult diseases like cancer. Reduced post-operative pain and problems, rapid recovery, lighter anaesthetic, and a shorter hospital stay are all advantages of endoscopy devices.

Minimally invasive procedures have been developed in surgery, interventional radiology, and advanced endoscopy to effectively treat a variety of disorders and improve patients' postoperative results. The growing concern for less invasive treatments among the elderly population, along with the increasing occurrence of chronic ailments worldwide, have boosted the demand for endoscopic devices. Owing to this, Endoscopy Devices Market is projected to grow at a CAGR of 9.0% over the coming 10 years.

• Endoscopy Devices Market was valued at US$ 44.8 Bn in 2021. According to Fact.MR, Endoscopy Devices Market revenue would increase 2.3X between 2022 and 2032, reaching roughly US$ 113.8 Bn by 2032.
• In terms of Application, Gastrointestinal (GI) Endoscopy accounts for the highest projected growth rate of 10.0% as compared to other segments and sub segments.
• In terms of segment Endoscopy Devices, sub segment Endoscopes accounts for the highest projected CAGR of 11.1% over the other sub segments during the forecast period.
• U.S. is the dominant region in Endoscopy Devices Markets with absolute dollar growth opportunity of around US$ 20 Bn.

How Surge in Use of Endoscopy Devices in Surgical Interventions increasing Demand for Endoscopy Devices?

The increasing use of different types of endoscopes and endoscopy devices in surgical interventions such as bronchoscopy, laparoscopy, arthroscopy, and cystoscopy has propelled the use of diverse types of endoscopes and endoscopic devices globally. Economic viability, improved patient satisfaction, shorter hospital stays, and less post-surgical issues are all reasons that have contributed to the shift in preference for minimally invasive surgeries over standard surgeries. As a result, demand for minimally invasive endoscopic procedures is likely to rise in the future years, thus driving market growth.

How Prevalence of Cancer has been Boosting Growth in Endoscopy Devices Market?

The rising incidence of cancer is driving the use of endoscopic equipment in a variety of therapy and diagnostic procedures. According to estimates provided by the International Agency for Research on Cancer in 2020, one in every five person will develop cancer at some point in their lives. Furthermore, the prevalence of cancer has increased significantly in recent years, increasing the demand for biopsies for cancer detection and diagnosis.

Endoscopic ultrasound and biopsies with endoscopy are two of the most popular methods for cancer diagnosis. Healthcare reform is growing healthcare spending, which is contributing to increases in the market for endoscopy devices. Increasing geriatric prevalence with chronic conditions such as gastrointestinal disorders and cancer is resulting in the popularity of endoscopic treatments. Demand for minimally invasive treatments and equipment for innovative endoscopy procedures will stimulate endoscopy sales throughout the forecast period. That, in turn, will lead to increased demand for diagnostic endoscopies throughout the forecast period.

Which Region is projected to Offer the Largest Opportunity for Endoscopy Devices Market?

Owing to the rising adoption of advanced technologies, the growing preference for minimally invasive surgeries to reduce overall healthcare spending, and improved healthcare infrastructure, North America dominated the global endoscopy devices market and accounted for the highest absolute dollar growth of over US$ 20 Bn between 2020 and 2032. Furthermore, one of the primary reasons driving the market's growth is the increased frequency of cancer, gastrointestinal disorders, and other chronic diseases in the region.

Country-wise Analysis

Which Country Lies at the CenterStage for Endoscopy Devices Market Revenue?

The United States is estimated to account for the highest global market share of 34.5% in 2022. The market is expanding due to an increasing variety of treatments and a growing population with a higher prevalence of GI illnesses. Furthermore, technological advancement in endoscopy devices are also having a favourable impact on market growth. Due to the rising incidence of digestive disorders impacting all demographic groups and the developing therapeutic capabilities of endoscopic devices in the U.S., the number of annual gastro-intestinal procedures is also expected to rise.

China is expected to exhibit significant growth over the forecast period. This is due to the region's increased demand for endoscopy-related technologies. The expanding geriatric population and improved health infrastructure are two more considerations. Furthermore, the Asia Pacific area's enormous economic development is one of the major drivers attracting worldwide investment to the region.

Category-wise Insights

Why GI Endoscopy is the future of Endoscopy Devices Market?

Due to the increased incidence of gastrointestinal disorders and the growing elderly population, the Gastrointestinal (GI) Endoscopy segment accounted for the highest CAGR of 8.7% between the historic years 2017-2021. Furthermore, rising use of endoscopy equipment for diagnosis and treatment of GI illnesses, as well as the availability of technically sophisticated gastroscopy products, are some of the factors driving the gastroscopy market.

Why Endoscopy Visualization Systems Promises the highest Absolute $ Opportunity among all Endoscopy Devices?

Under Endoscopy Devices segment, Endoscopy Visualization Systems category dominates the market for endoscopy devices, accounting for an absolute $ opportunity of nearly US$ 24 Bn during the forecast period. The high revenue opportunity through this category can be attributed to the advantages of high-definition visualization systems for the treatment and diagnosis of complex health conditions including GI disorders, cancer, urinary disorders, and lung disorders, as well as the growing preference of healthcare professionals for endoscopy visualisation systems for better diagnosis and treatment. Furthermore, the availability of technologically improved visualisation systems is driving its adoption, implying a larger market share.

How Has COVID-19 Impacted Revenue Generation from Endoscopy Devices Market?

Covid-19 impacted the market's growth during the pandemic with mixed results owing to changing rules about surgical treatments, especially minimally invasive procedures, and supply chain disruptions. According to an international study of endoscopists published in Elsevier Public Health Emergency Collection in 2020, during the COVID-19 pandemic, approximately 85% of consumers who participated in the study reduced procedure volume by more than 50%, and approximately 2.45% completely stopped their endoscopy services.

As many hospitals and clinics lack the resources and manpower to adhere to and implement the stringent COVID-19 guidelines put forth by the European Society for Gastrointestinal Endoscopy (ESGE) and the German Respiratory Society, following which the disposable endoscope sales have increased. To reduce the risk of infection, negative pressure suites and personal protective kits were used, alongside ward isolation. As a result, endoscopic therapy became more expensive. These issues to some extent limited the growth of endoscopy market in 2020.

How is Rise of Chronic Illnesses and Growing Geriatric Population Driving the Endoscopy Devices Demand?

Endoscopy market expansion will be fuelled in large part by the growing population around the world. Chronic illnesses such as gastrointestinal disorders, orthopaedic disorders, ophthalmic disorders, and other disorders are common among the geriatric population.

Immunological diseases are also very common among the elderly. Among senior individuals, gastrointestinal endoscopy such as endoscopic retrograde cholangiopancreatography (ERCP), colonoscopy, and esophagogastroduodenoscopy is safe and effective. These considerations are fuelling the demand for technologically sophisticated endoscopic devices as well as increased funding for endoscopic screening and care.

Competitive Analysis

Due to the growing need for endoscopic devices for various therapeutic and diagnostic procedures, there is a fierce competition among the existing providers of medical devices including endoscopy devices. Furthermore, prominent players' technological developments in the field of endoscopic devices are raising the stakes even higher. Added to that, prominent market players are forming strategic alliances with other competitors in the form of product launches, mergers and acquisitions, and collaborations, as well as increasing R&D in the domain of endoscopic technologies.

Some of the prominent players in the Endoscopy Devices market include Olympus Corporation, FUJIFILM Holdings Corporation, Stryker Corporation, Boston Scientific Corporation, Pentax Medical, Hoya Corporation, Johnson & Johnson, Karl Storz GmbH & Co. KG, Medtronic Plc, Medrobotics Corporation, Richard Wolf GmbH, and Smith & Nephew Plc.  

Some of the recent developments of key Endoscopy Devices providers are as follows:

• In 2021, Fujifilm Holdings Corporation announced the launch of the ELUXEO 7000X System, a novel video imaging technology. This advanced imaging system is beneficial in enabling real-time visualization of the haemoglobin-oxygen saturation levels in the tissues during the endoluminal imaging and/or laparoscopic procedures.
• In 2020, Pentax Medical announced the launch of its innovative J10 series of ultrasound video gastroscopes. This technologically advanced gastroscope with ergonomic design, enhanced maneuverability, and better image quality will be beneficial in delivering both market and clinical needs.

Similarly, recent developments related to companies offering Endoscopy Devices have been tracked by the team at Fact.MR, which are available in the full report.

Endoscopy Devices Market Report Scope

Market Segments Covered in Endoscopy Devices Market Analysis

• By Endoscopy Devices Type :

  • Endoscopes
  • Endoscopy Visualization Systems         
  • Endoscopy Visualization Component
  • Operative Devices

• By Application Type :

  • Gastrointestinal (GI) endoscopy
  • Laparoscopy
  • Obstetrics/ Gynecology endoscopy
  • Arthroscopy
  • Urology endoscopy (cystoscopy)
  • Bronchoscopy
  • Mediastinoscopy
  • Otoscopy
  • Laryngoscopy
  • Other applications

• By End-Use Type :

  • Hospitals
  • Ambulatory Surgery Centers
  • Other end-uses

• By Region :

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA