Endoscopy Operative Devices Market

Endoscopy Operative Devices Market Growth Outlook (2022 to 2032)

Global sales of Endoscopy Operative Devices Market in 2021 was held at US$ 8.7 Billion. With 5.8%, 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 rate of 6.3% during 2022 – 2032.

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

As per the Endoscopy Operative Devices Markets research by Fact.MR - a market research and competitive intelligence provider, historically, from 2017 to 2021, market value of the Endoscopy Operative Devices Markets increased at around 5.2% CAGR.

Epidemiology of chronic medical conditions, increase in the need for minimally invasive procedures, and improvement in the image quality which was taken part of endoscope systems, are all inspiring the growth of the endoscope operative devices industry.

The market is predicted to rise owing to an increase in the demand for minimally invasive operations due to reduced post-operative complications and decreased blood loss during surgeries. The global elderly population, which is burdened by chronic diseases, has been growing at a swift pace and represents a potential market for endoscopes. Over the projected period, this is likely to have a substantial impact on the market.

The increased prevalence of gastrointestinal, respiratory, urological, and gynaecological illnesses, all of which require the usage of endoscope systems to diagnose and treat, is likely to drive endoscopy operative devices market expansion. Endoscopy operating devices are predicted to be in high demand due to the rising prevalence of cancer and obesity globally.

The emergence of endoscopic bariatric operations as a preventative measure for example, is adding to the rising demand. Lung, colorectal, and breast cancers are all diagnosed via laryngoscopy, colonoscopy, and upper endoscopy.

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

In addition, technical developments and innovations are likely to contribute to overall growth. Furthermore, advances in endoscopic structures and systems reduce the cost of procedures and surgeries, resulting in a higher quality of life.

These improvements have made it possible to move from open surgery to minimally invasive techniques with ease. Owing to this, Endoscopy Operative Devices Markets is projected to grow at a CAGR of 5.8% over the coming 10 years.

• Endoscopy Operative Devices Market was valued at US$ 8.7 Billion in 2021. According to Fact.MR, Endoscopy Operative Devices Market revenue would increase 1.8X times between 2022 and 2032, reaching roughly US$ 16.2 Billion by 2032.
• In terms of Application, the sub-segment Gastrointestinal (GI) Endoscopy accounts for the highest projected growth rate of 6.3%.
• In terms of Product Type, sub-segment Access Devices accounts for the highest CAGR of 5.2% during the historic period (2017-21).
• North America is the dominant region in Endoscopy Operative Devices Market with absolute dollar opportunity of US$ 2.7 Billion.

How is the Rising use of Age-related Ailments Pushing Endoscopy Operative Devices Demand?

The expanding demand for endoscopic operative devices for diagnostic and therapeutic processes, as well as the rising prevalence of age-related diseases globally, are likely to propel the endoscopy operative devices market forward.

These gadgets are crucial in identifying and treating illnesses since they allow for minimum intervention and a faster recovery time. Endoscopic operations are required to treat gall stones, liver abscesses, pelvic abscesses, intestinal perforation, and endometriosis in the global elderly population.

According to United Nations estimates published in 2020, the worldwide geriatric population aged 65 and up was about 727 Million in 2019, accounting for 9.3% of the global population, and is predicted to reach over 1.5 Billion by 2050, accounting for 16% of the global population. The market for endoscopy operative devices is likely to develop in the coming years as the older population becomes more sensitive to chronic diseases needing endoscopic operations.

How Healthcare Facilities are Responsible for Boosting the Growth of Endoscopy Operative Devices Market?

Endoscopes and operating devices are growing in demand as the number of healthcare facilities such as hospitals, cancer centers, oncology specialty clinics, endoscopy centers, and diagnostic centers grows, potentially driving the market.

Healthcare infrastructure in developed and emerging countries is continually being upgraded to meet the growing demand for diagnostic and therapeutic operations among the patient population. In 2022, there were roughly 6,483 community hospitals in the U.S. In these hospitals, there are 59,281 beds in medical surgical intensive care units.

Furthermore, the United Kingdom had the most hospitals in Europe, with nearly 3,186 in 2022, which is anticipated to increase and reach 10,027 by the end of 2025, growing at an annual rate of 18%. Furthermore, with a CAGR of 10.1% and 11.8%, respectively, nations like Brazil and South Africa are likely to have considerable increase in the number of hospitals. Oncology specialist centers and diagnostic centers in these countries are also expanding at a rapid pace. The need for endoscopic operative devices is predicted to increase as the number of healthcare centers grow.

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

Owing to the rising frequency of cancer and other chronic diseases, North America accounted for the largest revenue share in 2020. The endoscopy operative devices in the region is rising due to a growing preference for minimally invasive procedures using sophisticated endoscopic operating instruments.

Furthermore, the market is being propelled by the rising demand of endoscopy for diagnostic and therapeutic purposes. The North American market is being driven by rising healthcare expenditure and transforming healthcare infrastructure.

How Asia Pacific is expected to become the Hotspot for Endoscopy Operative Devices in the Coming Years?

Due to the developing economies of India and China, as well as increased disposable income in these nations, the market in Asia Pacific is expected to grow at the fastest rate during the projected period. Over the projected period, the Asia Pacific market is likely to be driven by an increase in the prevalence of chronic diseases, growing elderly population, developing healthcare infrastructure, and the introduction of improved endoscopic techniques.

Signing distribution agreements with local vendors and establishing production facilities in Asia Pacific are among the techniques being implemented by global market players to establish their presence in Asian countries.

Country-wise Analysis

Which Country Lies at the Centerstage for Endoscopy Operative Devices Market Revenue?

The United States is expected to have the highest market share of US$ 5.7 Bn by the end of 2032. The United States now dominates the global endoscopic device industry and will continue for the entire analysis period. Due to an increasing diversity of therapies and a growing population with a larger prevalence of GI disorders, the market in the U.S. has been continuously growing.

Technological advancements in Endoscopy Operative Devices are also helping to drive market expansion in the country. Key players are looking for technologically innovative and inventive endoscopy solutions to better diagnosis and treatment. The number of annual gastro-intestinal procedures is predicted to surge owing to the rising incidence of digestive problems affecting all demographic groups and the developing therapeutic capabilities of endoscopic instruments.

Category-wise Insights

What are the Market Insights about Gastrointestinal (GI) Endoscopy?

The gastrointestinal (GI) endoscopy application segment is expected to have the highest CAGR of 6.3% due to the growing burden of gastrointestinal disorders across the globe. The market is likely to be driven by the advent of technologically sophisticated treatments to diagnose and treat gastrointestinal illnesses, such as capsule endoscopy for diagnosing various conditions.

Market leaders of high-quality endoscopes like Olympus Corporation, Medtronic PLC, and Boston Scientific Corporation are constantly investing in the industry's technological innovations by way of R&D. Olympus' gastroscopes include the EVIS EXERA III (GIF-HQ190EVIS EXERA III Video Gastrointestinal Scope GIF-1TH190), EVIS EXERA III Video Gastrointestinal Scope GIF-H190, Optera Video Gastrointestinal Scope GIF-XP170N, and EVIS EXERA III Video Gastrointestinal Scope GIF-XP190N.

Why Access Devices Command Over 35% Share of Endoscopy Operative Devices Market?

Access Devices category of endoscopy operative devices grossed over US$ 3 Bn revenues in 2021, accounting for 5.2% growth rate during the historical period. Several key players are designing and developing innovative, advanced endoscopy access devices for improving endoscopies.

For instance, Olympus Corporation recently expanded its GI endoscopic device line with the launch of 3-in-1 SB Knives that enable mucosal incision as well as controlled precision cutting. In another development, Pentax Medical acquired controlling interest in Plasma Biotics SAS. The company designs, manufactures, and markets devices used for storing, drying, and storing endoscopes.

Competitive Analysis

The market is fragmented with the presence of a large number of companies operating at global and regional levels. The development of new products and the improvement of existing products are becoming increasingly important for key players. In order to gain a competitive advantage in the market, manufacturers are focusing on improving product quality.

To expand their product portfolio, key players are using strategies like technological collaborations and acquisitions. Some of the prominent players in the Endoscopy Operative Devices Market include Cook Medical Inc., Olympus Corporation, Ethicon Endo-surgery, LLC., FUJIFILM Holdings Corporation, Stryker Corporation, Boston Scientific Corporation, Karl Storz GmbH & Co. KG, Richard Wolf GmbH, and Medtronic Plc (Covidien).

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

• In June 2019, Medtronic announced that its subsidiary, Karl Storz, has collaborated with it for four years in an attempt to integrate Karl Storz's 3D vision technology into Medtronic's robotic surgical platform.
• In March 2019, Olympus Corporation launched PowerSpiral to treat and diagnose gastrointestinal conditions with a motorized rotating attachment to the scope, which is gently touched the gastrointestinal mucosa and readily performs the endoscope of the small intestine.

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

Endoscopy Operative Devices Market Report Scope

Report Attributes	Details
Forecast Period	2022-2032
Historical Data Available for	2017-2021
Key Market Segments Covered	Product Type Application Region
Key Companies Profiled	Cook Medical Inc. Medtronic Boston Scientific Corporation Stryker Ethicon Endo-Surgery, Inc. Karl Storz CONMED Corporation Richard Wolf GmbH Fujifilm Holdings Corporation Olympus

Market Segments Covered in Endoscopy Operative Devices Market Analysis

• By Product Type :

  • Energy Systems
  • Access Devices
  • Suction & Irrigation Systems     
  • Hand Instruments
  • Wound Retractors
  • Snares

• By Application :

  • Gastrointestinal (GI) Endoscopy
  • Laparoscopy
  • Obstetrics/Gynaecology Endoscopy
  • Arthroscopy
  • Urology Endoscopy (Cystoscopy)
  • Bronchoscopy
  • Mediastinoscopy
  • Otoscopy
  • Laryngoscopy
  • Other Applications

• By Region :

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