Endoscopy Device Market: Global Industry Analysis and Forecast (2023-2029)

Endoscopy Device Market was valued at US$ 45.90 Bn. in 2022 and the total revenue is expected to grow at 7.5% of CAGR through 2023 to 2029, reaching nearly US$ 76.15 Bn.
Endoscopy Device Market Overview:
Endoscopic operations, which are nonsurgical, use endoscopy tools and supplies to look within a patient's digestive tract. STERIS Endoscopic is pleased to provide a wide range of therapeutic devices and infection prevention items for gastrointestinal (GI) endoscopy operations thanks to the collaboration with physicians and innovative product development in the endoscopy device market.

Due to the high consumable consumption associated with endoscopy treatments, there are considerable financial costs involved. As a result, supply chain management and optimization in endoscopy can improve value-based care by locating opportunities for equipment procurement cost savings in the endoscopy device market. One of the driving opportunities to improve the supply chain is to form a multidisciplinary supply chain management team, like the Multidisciplinary Endoscopic Device Committee (MEDC). Physicians, clinical management, and institutional supply chain are key elements of MEDC. The committee's doctors find new goods, describe their worth, take the lead in deciding whether to buy a product, and provide practice guidelines that specify how the tool should be used meaningfully these are expected to drive the endoscopy device market.

Flexible endoscope cleaning takes a lot of time and effort. Any effort at sterilization or high-level disinfection will be unsuccessful if the initial cleaning was poor. Poor endoscope reprocessing can lead to the spread of dangerous bacterial and viral illnesses among patients as well as endemic hospital pathogen infections. When high-risk patients are undergoing particular endoscopic procedures, antibiotic prophylaxis is necessary to prevent septicemia and bacterial endocarditis. Strict adherence to specific reprocessing processes by nursing personnel that has undergone specialized training is required for the prevention of major endoscopy-associated clinical infections. And hampering the endoscopy device market. growth during the forecast period globally.

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Endoscopy Device Market Dynamics:
OMEs and Suppliers penetrating endoscopy device market growth

An endoscopy is conducted by either a doctor or a surgeon, depending on whatever portion of the body has to be examined and the sort of treatment. During the procedure, a patient may be completely aware or sedated. Endoscopy is most commonly used to refer to the inspection of the upper region of the gastrointestinal system, also known as an esophagogastroduodenoscopy. Driving endoscopy device market. Today, major endoscopy device manufacturers mostly serve the endoscopy device industry, with Stryker developing medical research equipment for the pharmaceutical, surgical, and neurotechnology industries. Endoscopes, navigation software, and EMS and evacuation equipment are among its offerings. They are headquartered in Kalamazoo, Missouri. Endoscopes are among the medical tools and gadgets manufactured by KARL STORZ Endoscopy-America, Inc. The firm was created in 1971 and is located in El Segundo, California. The headquarters of PENTAX Medical are in Montvale, New Jersey.

The firm, which was founded in 1919, manufactures endoscopic imaging instruments. Endoscopic ultrasonography systems and gastrointestinal endoscopic equipment are among their offerings. endoscopy device market. Lenox Instrument Company was established in 1920. They produce and sell conventional and customized medical equipment and supplies, such as endoscopes with flexible fiber-optic cable for maneuvering around barriers and into microscopic cavities. They are headquartered in Trevose, Pennsylvania. Endoscopes, both rigid and flexible, are manufactured by Richard Wolf Industrial. They were created in 1972 and are situated in Vernon Hills, Illinois. Sohniks Endoscopy, Inc. was created in 1995 and is headquartered in Saint Paul, Minnesota. They produce endoscopes for surgical and industrial use. endoscopy device market. Myelotec, Inc. develops steerable catheter and endoscope technologies. Catheters, steerable catheter kits, and fiber-optic endoscopes are among the products available. They are headquartered in Roswell, Georgia. In 2003, EndoGastric Solutions, Inc. was established. Endoscopes are among the medical devices and orifice surgical tools manufactured by the firm for the treatment of gastrointestinal illnesses. They are based in Redmond, Washington. The headquarters of Optim Incorporated is in Sturbridge, Massachusetts. They develop flexible endoscopic devices and were founded in 1970. More region vise key OMEs and suppliers are detailed covered in the report.

Top Endoscopy Device Market key Manufacturers in 2021



Company
Revenue 


Stryker
$15 Billion


KARL STORZ Endoscopy-America, Inc.
$650 Million


PENTAX Medical
$100 Million


Lenox Instrument Co.
$22.3 Million


Richard Wolf Industrial
$17.9 Million


Sohniks Endoscopy, Inc.
$15 Million


Myelotec, Inc.
$14.2 Million


EndoGastric Solutions, Inc.
$13.7 Million


Optim Incorporated
$12.8 Million


Acclarent, Inc.
$12.1 Million



Top Diversity Ownership Endoscope Suppliers on Thomasnet in 2021



Company 
Revenue


KARL STORZ Endoscopy-America, Inc.
650 Million


Lenox Instrument Co.
22.3 Million


Advanced Endoscopy Devices, Inc.
2.8 Million


1800 Endoscope.com, LLC
1 Million


Medtec Applications, Inc.
1 Million


Angelus Medical & Optical Equipment
1 Million



Strategic investment by china

The need for early diagnosis and less invasive treatment is growing in tandem with China's and other Asian countries' fast economic growth. Olympus actively promotes endoscopist training, as it does in Japan, the United States, and Europe, by giving training opportunities on the safe and effective use of Olympus products, allowing clinicians to be familiar with them. In China and other Asian countries, new goods and techniques are being developed and driving the endoscopy device market.

China provides more than 300 distinct endoscope types, and the number of various kinds of endoscopes we offer expands each year. Making endoscopes advanced manufacturing processes are also required as high-mix, low-volume manufacturing systems in addition china has maintained a stance despite meeting these standards. toward manufacturing, which forces us to create components and equipment if the market is unable to supply
provide us with things that fulfill our requirements for craftsmanship. Endoscope components have evolved throughout time. It is difficult to find such complex structures. Chinses manufacturers of endoscopy devices create huge competition.

Row material costs hamper the market growth

Diseases and problems produced by endoscopic goods, on the other hand, may have an impact on corporate development. Reforms to policy are likely to raise the price of developing new goods and providing services to customers. Restraining endoscopy device market growth. Depending on the kind of endoscope, the average endoscope usage time ranged from 4.6 to 6.9 years. The average total cost per user for colonoscopes was $21.81 and $8.35 for flexible sigmoidoscopes. The cost of gastroscopes was $20.99, $49.15, and $45.16 for diagnostic and therapeutic duodenoscopes, respectively.

Total scope expenses varied from a low of $8.35 for the flexible sigmoidoscope to $49.15 for the diagnostic duodenoscope, excluding expenditures related to the treatment itself (admit recovery, medications, disposable equipment, and procedural staff). The number of uses, original purchase price, and repair expenses were the three most significant factors influencing the cost per use of endoscopes. Methods like the ones mentioned above can be used to determine a practitioner's or institution's per-procedure expenses.

Endoscopy devises market growth is impacted by the pressure on expenditures linked to the manufacturing of new goods caused by the potential loss of revenue from the product's delayed release and the additional expenses paid due to strict clearance procedures. Restraining the endoscopy device market growth.
Endoscopy Device Market Segment Analysis:
Based on Type, the Endoscopy Device Market is segmented into Endoscopes and Visualization systems. Visualization endoscope systems held the largest market share in 2022. Endoscopy is a minimally invasive technique used to examine the body's interior organs. Modern visualization technologies can provide images of high quality, which is why they are crucial in the medical industry. Endoscopic treatments have recently become a viable supplementary technique in a number of medical disciplines, including urology, gastroenterology, and general surgery. The Centers for Disease Control and Prevention calculate that 494,000 hysterectomies are carried out in the United States each year. Laparoscopic or robotic surgery accounts for about 80.0% of operations. As a result, the endoscopy device market. is growing due to the move toward minimally invasive operations and the rising incidence of cancer.

The market is expected to grow as a result of the increasing frequency of diseases including colorectal cancer, gastrointestinal disorders, pancreatic abnormalities, and urological, gynecological, and respiratory issues. The World Cancer Research Fund reports that colorectal cancer is the second most prevalent disease in women and the third most prevalent cancer in men. Furthermore, the WHO predicts that by 2030, there will be 1.51 million new instances of colon cancer, up from 1.15 million in 2020. In the upcoming years, it is projected that this will increase demand for endoscopic operations. In addition, the growing elderly population increases the number of patients needing endoscopic operations. Increasing demand of endoscopy device market. According to the United Nations, the number of individuals aged 65 and more is expected to increase from 703 million in 2019 to 1.5 billion by 2050. Over the forecast period, this is expected to boost the market for endoscopic visualization systems.

Skull base surgery has undergone significant progress as one of the key technological developments in the Visualization endoscope system and an upcoming opportunity for endoscopy device market players. From early candle-lit devices to the modern endoscope, refinements in visualization techniques have made endoscopic skull base surgery (ESBS) a standard practice for treating a variety of conditions. The endoscope has also been integrated with other technologies to enhance visualization, including fluorescence agents, intraoperative neuronavigation with augmented reality, and the exoscope, and drive the endoscopy service market. Endoscopic approaches have allowed neurosurgeons to reevaluate skull base neuroanatomy from new perspectives. These advances now serve as the foundation for future developments in ESBS. In this narrative review, we discuss the history and development of ESBS, current visualization techniques, and future innovations boosting endoscopy device market growth globally.

Based on the Application, the Endoscopy Device Market is segmented into GI endoscopy, Laparoscopy, Cystoscopy, Bronchoscopy, Colonoscopy, and Arthroscopy. GI endoscopy is expected to dominate the market during the forecast period. Workflows and resource usage are being optimized as a result of rising demand for clinical practice, improved diagnostic tools, and the possibility of IT solutions. OMEs contribute to increased departmental efficiency by handling the full clinical cycle for GI endoscopy treatments. the increased demand for early diagnosis of oncological and inflammatory disorders, gastrointestinal (GI) endoscopic exams are becoming more and more in demand globally and driving the endoscopy market during the forecast period. Additionally, there is an increasing need from both patients and clinicians to lessen the fear and discomfort associated with these invasive treatments, make them bearable, and, as required, easily reproducible without feeling overly worried. Among all the intrusive procedures, GI endoscopic procedures are really regarded as some of those that lead to most patients experiencing pain, fear, shame, and discomfort, which might impact their compliance with the recommended guidelines, significant pathology diagnostic delays, such as chronic inflammatory bowel disorders and cancer, where diagnosis time is important. Many medical technologies started acquiring GI endoscopy supply
Endoscopy Device Market Regional Insights:
The Europe region dominated the market with a 45 % share in 2022. Germany, Austria, and Switzerland are seeing increases in the market for endoscopic equipment. There is a rising need for creative, economical solutions. Germany and Austria received €1.5 Billion worth of endoscopic equipment imports in 2022. At 6.1%, the percentage of imports from emerging and developing countries is minimal and is only expected to slightly increase. the first and most intriguing importer is Germany, which has a sizable market for goods from undeveloped countries. country of these three close-by, German-speaking countries. Driving endoscopy device market.

Germany and Austria received €1.5Billion worth of endoscopic equipment imports in 2021. In the years 2017 to 2022, the average yearly increase was 6.1%.

2.5% of imports come from emerging regions, which is a relatively tiny percentage. The majority of imports come from wealthy countries. (78%) outside the EU. A modest increase in the developing country’s share is expected in the near future, between 0% and 3%. Germany imports more than any other country (97%), with Austria accounting for 3%. Germany is also the top importer of the endoscopy device market. While Austria buys practically little endoscopic equipment from poor nations, developing nations do. In the near future, it is anticipated that endoscopic device imports would increase by 3 to 5 percent. Germany's top five endoscopic device suppliers are all industrialized countries: Japan, Switzerland, the United States, Poland, and Germany itself. Vietnam, the only developing country on the list of top suppliers, shipped €1.2 Billion in 2021. China and Thailand are two other emerging nations that sell endoscopic equipment to Germany, each for €3.3 million. and Pakistan (€500,000). Swiss Republic ($32 million). Exports of endoscopic equipment from Europe are anticipated to expand by 2 to 4% in the near future 4%.

The amount of money spent on medical equipment is a key factor in determining the demand for endoscopic devices. In turn, economic expansion and an aging population fuel this need (an aging population needs more medical care). Gross Domestic Product (GDP) and the number of older persons are expected to continue to grow in each of the focal countries. In the near future, an increase year over year is expected. This provides a solid foundation for forecasting import growth and demand during the forecast period.

Because much medical equipment is purchased abroad and paid for in US dollars, the profitability of endoscopic device imports is affected by the euro/US dollar exchange rate. Although it was expected that the euro/dollar exchange rate will not exceed 0.80 until 2020, the rate ranged from 0.88 to 0.93 from March to October 2015. It has a sizable impact on the imports' price level. If this condition persists for a few years, it will negatively affect European imports paid in US dollars as opposed to domestic manufacturing in Europe.
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Endoscopy Device Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 45.90 Bn.


Forecast Period 2023 to 2029 CAGR:
7.5%
Market Size in 2029:
US $ 76.15 Bn.


 Segments Covered:
by Product Type
• Endoscope
o Flexible
o Rigid
o capsule
• Visualization systems
o Endoscopic ultrasound
o Insufflator



by Application
• GI endoscopy
• Laparoscopy
• Cystoscopy
• Bronchoscopy
• Colonoscopy
• Arthroscop


by End-user Type
• Hospitals
• Clinics
• Others


by By Hygiene
• Single-use
• Reprocessing
• Sterilization


by Components
• Light Sources
• Insufflators
• Camera Heads
• Video Processors
• Suction Pumps
• Endoscopy High-definition monitor



Endoscopy Device Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Endoscopy Device Market, Key Players are:
• Boston Scientific Corporation
• Conmed Corporation
• Cook Medical
• Covidien PLC
• Fujifilm Holding Corporation
• Hoya Corporation
• Ethicon Endo-Sugery(Johnson & Johnson)
• Medtronic PLC
• Olympus Corporation
• Stryker Corp.
• Richard Wolf GmbH
• Smith & Newphew Plc
• Intutive Surgical Inc.
• KARL STORZ GmbH & CO. KG
• Pentax Medical Corporation
• Braun Melsungen AG

Frequently Asked Questions:

1] What segments are covered in the Global Endoscopy Device Market report?
Ans. The segments covered in the Endoscopy Device Market report are based on Product Type and End User.

2] Which region is expected to hold the highest share in the Global Endoscopy Device Market?
Ans. The Europe region is expected to hold the highest share in the Endoscopy Device Market.

3] What is the market size of the Global Endoscopy Device Market by 2029?
Ans. The market size of the Endoscopy Device Market by 2029 is expected to reach US$ 76.15Bn.

4] What is the forecast period for the Global Endoscopy Device Market?
Ans. The forecast period for the Endoscopy Device Market is 2023-2029.

5] What was the market size of the Global Endoscopy Device Market in 2022?
Ans. The market size of the Endoscopy Device Market in 2022 was valued at US$ 45.90 Bn.