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

Endoscopy Equipment Market size was valued at USD 30.38 Bn. in 2022 and the total Endoscopy Equipment revenue is expected to grow by 8.5 % from 2023 to 2029, reaching nearly USD 53.77 Bn.
Endoscopy Equipment Market Overview:
Endoscopy is a imaging technology used to examine the body's internal organs or veins. This technology is utilized not just to identify the damage, but also in surgical and therapeutic operations. To ensure a safe and successful procedure, many tools and equipment are used during endoscopy, including procedure-specific scopes, video monitors, imaging devices, anesthetic equipment, monitoring equipment, light sources, video processors, insufflators, endoscope cabinets, and an endoscopy cart or trolley. Gastroenterologists, gynecologists, nephrologists, neurologists, cardiologists, hepatologists, and liver transplant surgeons are the primary users of endoscopy equipment.

The market is being driven by growing geriatric population with an increasing prevalence of gastrointestinal, cancer, and other chronic illnesses, an increase in the number of hospitals, and technical advancements in endoscopy. Growing potential from developing countries, as well as a growing desire for less invasive treatments have created significant opportunities for this industrys. On the other hand, the high cost of endoscopic therapy, as well as the diversion of patients to Ayurveda, are expected to hamper the the growth of the market and effect of alternative technology on market is analysed in the report. There are several dangers connected with the use of endoscopic equipment, including infection and bleeding, which provide a significant impediment to the market's growth.

Increase in the elderly population, the availability of innovative endoscopy devices in developed regions such as Europe and North America, rising incidences of gastrointestinal disorders, cancer, and other chronic conditions in the Asia Pacific, and rising demand for minimally invasive procedures. The elderly are more vulnerable to chronic and severe illnesses. As a result, the older population is more likely to need endoscopic operations. According to the Administration of Community Living (ACL), the number of individuals aged 65 and over in the United States was 54.5 million in 2019 and is expected to climb to roughly 94.9 million by 2060. The increase in the incidence of chronic disorders is expected to boost endoscopy market growth in the analyzed timeframe.
Research Methodology:
The report's goal is to give complete assessment estimates using an appropriate set of assumptions and methodology. By defining and analyzing market segments and predicting worldwide market size, the research aids in understanding the Endoscopy Equipment Market dynamics and structure. Additionally, the study examines the competitive landscape of key competitors in terms of product, pricing, financial situation, growth plans, and geographical presence.

The research has covered the PEST analysis by region and important economies throughout the world, which are expected to have an influence on the market during the forecasted period, to better understand market dynamics and by region. To examine their tactics, PORTER conducted a market research as well as a complete SWOT analysis of important companies. The study covers all stakeholder concerns about prioritizing efforts and investments in the Endoscopy Equipment Market's developing segment in the forecast period.To know about the Research Methodology:-Request Free Sample Report
Endoscopy Equipment Market Dynamics:
Market Drivers:

High demand for Endoscopy therapy and diagnosis

Robotic-assisted flexible endoscopy aims to increase patient exam tolerance by allowing the physician to adjust the flexible endoscope within a set distance, lowering the possibility of infection. According to the October 2020 article "Technology Can Make Endoscopy Safer," a mix of new technology, like as robots and computer vision, can help improve the status of colorectal cancer, the world's third most prevalent malignancy. The robotic flexible endoscopic system is employed for endoscopic applications like bronchoscopy, pancreatic endoscopy, and gastroscopy in unstructured conditions, as these diseases require urgent treatment during the COVID pandemic. As a result of the aforementioned reasons, the examined market had a significant influence on the studied market. The growing desire for less invasive procedures increased acceptance of endoscopes for treatment and diagnostics, and technical improvements leading to better applications are the primary drivers driving the market's growth.

Because minimally invasive procedures (MIS) generate less post-operative discomfort, patients are given lower doses of pain relievers. Because there are few incisions or stitches, the hospital stay is usually brief, and patients do not need to return frequently. People are increasingly interested in minimally invasive procedures rather than typical open operations, which include large incisions made into the muscles, and these muscles take a long time to recuperate. Minimally invasive surgery (MIS) uses tiny incisions, resulting in faster recovery. Additionally, the scars left by minimally invasive operations (MIS) are scarcely visible. The fundamental benefit of minimally invasive surgeries (MIS) over traditional open operations is the increased accuracy provided by video-assisted technology, which produces a better and enlarged view of the organs or body parts being operated on. Because of the reduced recovery period, these operations are becoming more popular among the older population.

Endoscopy systems are often employed in minimally invasive operations to determine the origin of certain disorders and symptoms, according to the study "Anatomic Study of Endoscopic Transnasal Approach to Petrous Apex," published in January 2020. Endoscopic-aided technology has traditionally been used to expose much of the region that is difficult to examine with a microscope. Through the natural human foramen, endoscopy varies the angle and sees the surrounding anatomical structure. It gives the surgeon an unobstructed viewing field and an operating channel without retraction, considerably improving surgical quality. As a result, surgeons favor flexible endoscopic devices. As a result of the aforementioned factors, the worldwide endoscopy devices market is expected to increase significantly during the forecast period.

Advancing technological development in Endoscopy

The Endoscopy Equipment market is also driven by the growing inclination of medical professionals for using technologically enhanced endoscopic equipment outfitted with a high-definition camera and light sources to assist doctors in analyzing interior organs of interest. The primary drivers projected to drive the demand for endoscopic equipment are the shift in preference toward minimally invasive surgical techniques over standard operations to shorten hospital stays and minimize post-procedure problems. Therefore, it is anticipated that factors including greater patient satisfaction, enhanced economic viability, and shorter hospital stays would raise the demand for minimally invasive endoscopic procedures in the years to come, fueling the market's expansion.

The use of endoscopic equipment for the early diagnosis and treatment of the disease is also fueled by the rising incidence of cancer throughout the world. For instance, 19.3 million new instances of cancer were reported worldwide in 2021, and about 10 million people died from cancer. The preference for biopsies in recent years for cancer diagnosis and detection is also projected to promote the use of endoscopic equipment, which is expected to fuel the market for endoscopy devices over time. During the projected period, the technological development of novel endoscopic devices is also predicted to fuel market expansion. The major manufacturers are always working to improve sophisticated endoscopic treatments and diagnoses for a variety of chronic illnesses. For instance, Fujifilm Holdings Corporation stated the ELUXEO 7000X endoscopic Imaging System will go on sale in August 2022. During laparoscopic and/or endoluminal imaging procedures, this cutting-edge imaging technology offers real-time observation of haemoglobin oxygen saturation (StO2) levels in tissue.

Endoscopy is becoming increasingly important for diagnosis

Endoscopy operations are minimally invasive surgeries that use small tubes, tiny cameras, and surgical equipment to be performed through one or more small incisions. Endoscopy treatments provide several advantages, including reduced discomfort, a shorter or no hospital stay, and fewer issues connected to pre-and post-surgery care. Owing to these operations are less expensive, more successful, and safer than traditional open surgeries. Additionally, these treatments are covered by health insurance carriers in wealthy nations such as the United States, Canada, the United Kingdom, Germany, Australia, and a few Middle Eastern countries such as the United Arab Emirates. These reasons contribute to patients' and physicians' strong preference for endoscopic treatments. The United States performs roughly 11.2 million colonoscopies, 6.5 million upper endoscopies, 313,050 flexible sigmoidoscopies, 178,405 upper endoscopic ultrasonography tests, and 169,500 endoscopic retrograde cholangiopancreatography operations each year.

Endoscopy is rapidly being utilized to diagnose and treat a variety of significant diseases, including cancer, orthopedic issues, neurological disorders, and gastric reflux disease (GERD). According to GLOBOCAN, 457 960 new cancer cases were identified in the UK in 2020, with this figure expected to rise to 27.5 million by 2040 (a 61.7% increase). As a result, the frequency of cancer procedures will skyrocket; for example, around 80.2% of cancer patients are expected to necessitate surgery. Owing to the increased prevalence of target illnesses such as cancer, neurodegenerative, infectious, immunological, metabolic, and cardiovascular diseases is expected to increase the need for endoscopic operations, propelling the endoscopy equipment market growth in the forecast years.

Market Restraints:

Shortage of skilled physicians and endoscopists

Endoscopy physicians and surgeons are limited across the world. This lack of skilled endoscopy experts is expected to be felt throughout the Asia Pacific, Latin America, and Europe as well (excluding the UK, where training has been provided for nurse endoscopists for the last 10 years by the United Kingdom Central Council for Nursing, Midwifery, and Health).

Endoscopic operations must be performed by trained specialists in order to minimize the spread of infections in endoscopy facilities. The global lack of competent endoscopy physicians and nurses is expected to have a detrimental influence on the number of endoscopic operations performed each year. To address this worry, a few industry participants, such as Olympus, have developed training facilities. The organization has 22 endoscopic training locations in Asia alone. These programs will raise awareness of the most recent technical advances in the area of endoscopy while also increasing the number of qualified endoscopy experts.

Market Opportunities:

Healthcare sector innovations

Brazil, Russia, India, China, and South Africa (BRICS) have some of the world's fastest-growing economies. According to the World Economic Forum, developing nations will account for around one-third of global healthcare spending in 2020. Because India and China have more than half of the world's population, these countries have the biggest number of patients. The rising cancer burden, quick improvements in healthcare infrastructure, the rapid growth of medical tourism, and the availability of flexible legislation in these nations all drive endoscopic equipment manufacturers to extend their presence in emerging markets.

Several endoscopic equipment manufacturers are now establishing operations in the Asia Pacific, the Middle East, and Latin America. Stryker and KARL STORZ have previously established production and R&D centers in these nations. Furthermore, market saturation in established countries such as North America and Europe will force endoscopic equipment producers to concentrate their efforts in emerging markets in the future years.
Endoscopy Equipment Market Segment Analysis:
Based on Product, Widespread use during endoscopy procedures and increasing application for the visualization and diagnosis of complex disease conditions such as cancer, GI disorders, urinary disorders, and lung disorders, endoscopy visualization systems accounted for the largest revenue share of 38.5% in 2022. Additionally, the emergence of next-generation endoscopic visualization technologies, which allow surgeons to see the internal organ of choice with minimally invasive treatment, is increasing its use and indicating a bigger sector share.

Furthermore, throughout the projection period, the endoscopes sector accounted for a CAGR of 9.4% in the market for endoscopic equipment. This rapid expansion can be ascribed to the rising number of endoscopic operations, as well as the widespread use of endoscopes to perform surgeries and biopsies for improved diagnosis and treatment. Due to its high preference for usage by medical professionals and advantages such as safety, better efficiency, and superior ergonomics as compared to rigid endoscopes, the flexible endoscopes segment led the endoscopes segment and accounted for a significant revenue share in 2022.

Based on the Application, The Gastrointestinal (GI) endoscopy segment led the endoscopic device market in 2022, accounting for 54.7% of sales. The increased prevalence of gastrointestinal illnesses in the young, adult, and elderly populations globally is one of the primary factors driving the growth of the gastroenterology segment. gastrointestinal issues include dyspepsia, irritable bowel syndrome, and constipation. In addition, gastroesophageal reflux disease is a common type of organic gastrointestinal problem. The growing prevalence of gastrointestinal illnesses, along with an aging population, is boosting the need for gastrointestinal endoscopy. Gastrointestinal tumors are the world's second leading cause of cancer-related fatalities. Endoscopy has been shown to be the gold standard for detecting gastrointestinal malignancies.

Owing to the surge in endoscopic treatments for early detection of gastrointestinal malignancies is likely to drive the market in the forecast period. The vast majority of gastrointestinal stromal tumors begin in the rectum, colon, or esophagus. The majority of persons diagnosed with a gastrointestinal stromal tumors are over the age of 50. The market is driven by the increasing prevalence of malignant cancers. According to the American Cancer Society (ACS), there will be 106,185 new cases of colon cancer and 44,890 new cases of rectal cancer in the United States in 2022.

According to the American Cancer Society, the lifetime chance of having colorectal cancer is around one in 23 (4.3%) for men and one in 25 (4.0%) for women. According to the World Health Organization (WHO), there will be around 1.93 million occurrences of colon and rectum cancer in 2020. Furthermore, increasing product approval in the sector will add to market expansion. For example, Ambu received 510(k) regulatory approval from the United States Food and Drug Administration for the Ambu a scope Gastro and Ambu aBox 2 in February 2022. Ambu's first sterile single-use gastroscope, the scope Gastro, incorporates new superior imaging and design characteristics in a combined solution with next-generation display and processing technologies. As a result of the aforementioned factors, the category is predicted to increase significantly during the forecast period.

Based on the End User, In 2022, the hospital sector led the market for endoscopic equipment, accounting for 50.1% of total sales. Hospitals are widely regarded as primary healthcare systems, and the patient population's preference for hospitals for the diagnosis and treatment of chronic illnesses is also supporting sector expansion. Moreover, a significant number of hospital surgeries, including endoscopic procedures, enhance endoscopy equipment usage, consequently promoting sector growth.

Additionally, the ambulatory surgery centers/clinics category is expected to grow at the fastest rate throughout the projection period. Growing demand for minimally invasive treatments to minimize total costs and the number of days spent in the hospital are some of the primary reasons projected to drive market growth. Moreover, shorter recovery time and reduced discomfort due to the usage of less invasive keyhole endoscopic procedures hasten the use of endoscopy equipment in ambulatory surgical centers/clinics, which is expected to boost sector growth during the forecast period.
Endoscopy Equipment Market Regional Insights:
North America had the biggest revenue share of 42.3% in the market for endoscopic devices market in 2022. The growing incidence of chronic diseases such as cancer, as well as an aging population, are likely to drive the endoscopy devices market in North America during the forecast period, as are technical breakthroughs and new product releases.

Colorectal cancer is the third greatest cause of cancer-related deaths in men and women, and the second highest cause of cancer deaths in the combined population in the United States, according to the American Cancer Society. It is anticipated that the country would have 106,180 new instances of colon cancer and 44,850 new cases of rectal cancer in 2022, resulting in 52,580 fatalities. As a result of the rising prevalence of colorectal cancer, the market for endoscopic equipment will be driven by its detection and treatment.

Furthermore, new product introductions in the researched industry will increase the market in the area. For example, in October 2022, FUJIFILM Healthcare Americas Corporation will release the El-740D/S dual-channel endoscope for both upper and lower gastrointestinal applications. In addition, in July 2021, FUJIFILM Medical Systems U.S.A., Inc. released the ELUXEO Surgical System, which is projected to provide unprecedented visibility while conducting both flexible and rigid endoscopy from a single tower. As a result, the entry of new products into the market will help the industry to flourish.

Furthermore, in April 2022, Ambu Inc. acquired Health Canada certification for the scope 4 Cysto, a novel flexible cystoscope platform for urology. As a result, regulatory approval for goods is likely to considerably contribute to market growth. Furthermore, important actions implemented by market leaders such as mergers, acquisitions, and alliances increase their product range in the area, hence propelling the market. For example, in November 2022, RoundTable Healthcare Partners' portfolio firm, Healthcare Components Group ("HCG"), purchased Endoscopic Development Company ("EDC"), bringing all endoscopy components in both the optical and flexible categories under one roof. As a result, the presence of HCG in the country is increasing, and the country is moving forward.

Huge population and a growing number of functional gastrointestinal problem patients in the Asia Pacific, the market for endoscopy equipment is expected to develop at the fastest rate during the forecast years. Additionally, growing demand for minimally invasive endoscopic procedures and improved healthcare infrastructure are expected to propel the region's market growth. Moreover, growing government attempts to upgrade healthcare facilities and continually build a start-up landscape are among the primary drivers boosting the region's market growth. As a result of the aforementioned reasons, the investigated market is expected to increase considerably during the forecast period.
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Endoscopy Equipment Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 30.38 Bn.


Forecast Period 2023 to 2029 CAGR:
8.5%
Market Size in 2029:
US $ 53.77 Bn.


 Segments Covered:
by Product
1. Endoscope
2. Visualization System
3. Other Endoscope Equipment
4. Accessories


by Application
1. Gastrointestinal Endoscopy
2. Laparoscopy
3. Obstetrics/ Gynecology Endoscopy
4. Arthroscopy
5. Urology Endoscopy (Cystoscopy)
6. Bronchoscopy
7. Ent Endoscopy
8. Mediastinoscopy
9. Other Applications


by End User
1. Hospitals
2. Ambulatory Surgery Centers/Clinics
3. Other End Users


by Hygiene
1. Single-use
2. Reprocessing
3. Sterilization



Endoscopy Equipment 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 Equipment Market, Key Players are:
1. Olympus Corporation
2. KARL STORZ SE & Co. KG
3. Stryker Corporation
4. Boston Scientific Corporation
5. JOHNSON & JOHNSON
6. Fujifilm Holdings Corporation
7. Medtronic Inc.
8. Hoya Corporation
9. Nipro Corporation
10. Smith & Nephew Plc
11. Richard Wolf GmbH
12. ConMed Corporation
13. Intuitive Surgical, Inc.
14. Cook Medical
15. Ambu A/S
16. CapsoVision, Inc.
17. Fortimedix Surgical B.V.
18. B. Braun Melsungen AG
19. Medi-Globe
20. The Cooper Companies, Inc.
21. Dantschke Medizintechnik
22. Laborie Medical Technologies Inc.
23. Teleflex Incorporated
24. Cantel Medical Corp.
25. Carl Zeiss AG
26. Arthrex, Inc.

Frequently Asked Questions:

1] What segments are covered in the Global Endoscopy Equipment Market report?
Ans. The segments covered in the Endoscopy Equipment Market report are based on Product, Application, End User, Hygiene and Region.

2] Which region is expected to hold the highest share in the Global Endoscopy Equipment Market?
Ans. The North America region is expected to hold the highest share in the Endoscopy Equipment Market.

3] What is the market size of the Global Endoscopy Equipment Market by 2029?
Ans. The market size of the Endoscopy Equipment Market by 2029 is expected to reach US$ 53.77 Bn.

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

5] What was the market size of the Global Endoscopy Equipment Market in 2022?
Ans. The market size of the Endoscopy Equipment Market in 2022 was valued at US$ 30.38 Bn.