Global Endoscopes Market Size By Product (Rigid Endoscope, Flexible Endoscope), By Application (Pulmonology, Urology) , By End-use (Ambulatory Surgery Centers, Hospitals), By Geographic Scope And Forecast

Endoscopes Market Size And Forecast

Endoscopes Market size was valued at around USD 13.6 Billion in 2022 and is anticipated to reach around USD 28.08 Billion by 2030, growing at a CAGR of 9.40% from 2023 to 2030.

The Global Endoscopes Market is growing rapidly owing to a number of factors, including the rising incidence of chronic illnesses, the rising desire for less invasive operations, and technical improvements in endoscopic equipment, Since endoscopes enable precise diagnosis and treatment, the prevalence of chronic diseases such as cancer, gastrointestinal problems, and respiratory illnesses are on the rise. Also, the desire for minimally invasive operations is driving the market’s expansion since endoscopes allow doctors to carry out such treatments with more accuracy and control. Also, patients favor this treatment as it shortens their recuperation time and lowers their risk of problems. The Global Endoscopes Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Endoscopes Market Definition

Endoscopes are medical instruments used to view and identify diseases in interior organs and bodily cavities. They are made up of an extended, thin, flexible, or stiff tube with a camera and a light source attached to the end. The doctor checks the inside organs and cavities without the need for invasive surgery since the camera sends real-time photos to a display.

The diagnosis and treatment of digestive problems such as gastroesophageal reflux disease, inflammatory bowel disease, and colorectal cancer are among the many medical procedures that involve endoscopes. They are also used to examine the urinary and reproductive systems as well as for pulmonary operations like bronchoscopy. Endoscopes are chosen over conventional surgical methods because they are less intrusive, which leads to discomfort, a quicker recovery, and fewer problems. While hospitalization is frequently avoided, they are also economical.

Global Endoscopes Market Overview

The need for endoscopes is being driven by the rising prevalence of chronic illnesses such as cancer, respiratory ailments, and gastrointestinal problems, thus driving its market growth. Better patient outcomes result from the proper identification and treatment of such illnesses made possible by endoscopes. Since they have a decreased risk of complications, a shorter recovery period, and better patient outcomes, minimally invasive operations are gaining popularity. Furthermore, endoscopes are in high demand because they provide doctors the ability to carry out minimally invasive operations with more accuracy and control. The Endoscopes Market is expanding owing to improvements in endoscopic technologies such as high-definition imaging and robotic-assisted surgery.

These innovations make endoscopic operations more precise and safe, which benefits patients, thus driving market growth in the forecasted period. Endoscopic operations can be costly, particularly in low- and middle-income countries where there are limited healthcare resources. The high cost of endoscopic operations may prevent them from being used widely in these regions, thus hampering the market growth. While being less intrusive than conventional surgical treatments, endoscopic operations nevertheless run the risk of consequences such as internal infections, which may not be widely used, particularly among elderly or high-risk patients. Nevertheless, the Endoscopes Market is anticipated to expand in developing nations like Latin America and Asia-Pacific, where there is a rising need for cutting-edge medical technology.

Companies have a huge chance to create cutting-edge endoscopic technologies that are more precise, secure, and economical. Technology advancements like robots and artificial intelligence are anticipated to spur innovation in the Endoscopes Market. The Endoscopes Market is heavily regulated, with tight standards for effectiveness and safety. To introduce new products in the market, manufacturers must follow complicated regulatory systems, which may be a major obstacle. There are several well-established brands and recent entrants in the highly competitive endoscopes industry. To be competitive in the market, these companies need to stand out by providing cutting-edge products and services.

Global Endoscopes Market Segmentation Analysis

The Global Endoscopes Market is segmented based on Product, Application, End-Use, And Geography.

Endoscopes Market, By Product

• Rigid Endoscope
• Flexible Endoscope
• Capsule Endoscope
• Others

Based on Product, the market is segmented into Rigid Endoscope, Flexible Endoscope, Capsule Endoscope, and Others. The segment of flexible endoscopes holds the largest market share because of the fact that it may be done while sedated and is increasingly preferred by medical experts as the first-line treatment alternative. Other reasons to promote the use of flexible endoscopes include their high level of efficacy, safety, and affordability. Moreover, flexible endoscopes are used in several surgical procedures, such as gastrointestinal (GI) endoscopy, pulmonology, urology, gynecology, and others.

Endoscopes Market, By Application

• Gastrointestinal (GI) Endoscopy
• Pulmonology
• Urology
• Gynecology
• Others

Based on Application, the market is segmented into Gastrointestinal (GI) Endoscopy, Pulmonology,Urology, Gynecology and Others. The gastrointestinal (GI) endoscopy segment holds the largest market share owing to the growing global elderly population as well as the burden of functional gastrointestinal illnesses. A rise in the use of endoscopes for the treatment and diagnosis of gastrointestinal disorders as well as an increase in the quantity of upper gastrointestinal operations done are other major factors contributing to the growth of the segment in the forecasted period.

Endoscopes Market, By End-Use

• Ambulatory Surgery Centers
• Hospitals
• Others

Based on End-Use, the market is segmented into Ambulatory Surgery Centers, Hospitals, and Others. The hospitals segment holds the largest market share owing to the rising product preference among patients seeking therapy for chronic diseases. Also, the expansion is supported by advantageous infrastructure and reimbursement rules. In addition, hospitals execute a significant number of procedures and are often regarded as the primary source of healthcare. The majority of procedures are conducted in hospitals as compared to alternative healthcare systems, which helps the segment to grow in the coming years.

Endoscopes Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Geography, the global Endoscopes Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The region of the Asia Pacific market holds the largest market share owing to an aging population and an increase in the frequency of chronic illnesses, as the region is home to expanding economies like India, China, and Japan, which are driving the need for endoscopic procedures. The utilization of endoscopic procedures including gastroscopy, colonoscopy, and bronchoscopy is also being encouraged by a number of unmet medical needs in the local market. Additionally, because of the country’s growing hospital and healthcare infrastructure, China has the Endoscopes Market in the Asia Pacific region.

Endoscope demand is anticipated to increase as a result of the Chinese government’s emphasis on improving healthcare infrastructure and increasing healthcare spending. The regional market’s need for endoscopic procedures is also being fueled by an increase in medical tourism. Japan also holds a prominent market share in the Asia Pacific region. The country leads the world in endoscopic technology, and there is a considerable demand for minimally invasive procedures. The Japanese government is also promoting endoscopic procedures and increasing public awareness of their benefits.

Furthermore, because of the high incidence of chronic illnesses, increased demand for minimally invasive operations, and rising healthcare spending, the market in North America is anticipated to see the fastest revenue growth over the projected period. Owing to the prevalence of gastrointestinal illnesses and the developed healthcare system in the United States, this country has the Endoscopes Marke in North America. The region’s market is seeing revenue growth due to an increase in the usage of cutting-edge endoscopic technologies, such as high-definition and 3D imaging.

Key Drivers

The major players in the market are Olympus Corporation, Medtronic, Stryker Corporation, PENTAX Medical, Ethicon Endo-Surgery, Inc, Fujifilm Holdings Corporation, Covidien Plc, ConMed, Aesculap Inc, Hoya Corporation, Boston Scientific, Richard Wolf GmbH, Arthrex, Inc., Karl Storz, Smiths Group, and Others.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide insight to the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.

Key Developments

• In November 2022, the second generation NUVIS Single-Use Arthroscope, a first-of-its-kind 4K endoscope created for use in arthroscopic surgical procedures, was introduced by Integrated Endoscopy, a medical device company that has led the development of 4K, low-cost, single-use endoscopes for the arthroscopic surgery market. With the Gen II NUVIS, the picture quality was improved to 4K while the number of optical components was decreased by over 60%. This design is still under patent protection. In addition to having better picture quality, the Gen II NUVIS was also quicker, cheaper, and more suited to high-volume automation. To make NUVIS compatible with the majority of cannulas on the market, Integrated Endoscopy offered numerous NUVIS variants as part of the Gen II launch.
• In April 2020, the EVIS X1 endoscopic system, the most cutting-edge product to date from Olympus Corporation, was launched. The new system enhanced results from bronchial illnesses, stomach, colon, and oesophageal ailments by giving every endoscopist cutting-edge equipment. The introduction of EVIS X1 increased Olympus’ position as a leader in endoscopy and its ongoing medical emphasis.
• In July 2019, the robotic endoscope division of Schoelly Fiberoptic was acquired by Intuitive, a major global provider of minimally invasive, robotically assisted surgery and a maker of the da Vinci surgical systems. The robotic production line from Denzlingen, Germany, the manufacturing location in Biebertal, Germany, and the repair site in Worcester, Massachusetts, USA were all incorporated into Intuitive operations as part of this acquisition.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the global Endoscopes Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the global Endoscopes Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

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