Endoscopy Devices Market projected to reach USD 87.4 Billion by 2030, growing at a CAGR of 7% during the forecast period of 2023-2030 – a comprehensive study by MarketDigits

The Endoscopy Devices Market was valued USD 54.4 Billion in 2023 and projected to reach USD 87.4 Billion by 2030, growing at a CAGR of 7% during the forecast period of 2023-2030.

Richmond, Feb. 16, 2024 (GLOBE NEWSWIRE) — According to a research report “Endoscopy Devices Market, by Product (Endoscopes, Endoscopy Visualization Components, Endoscopy Operative Devices, Others), Application (Laparoscopy, Laryngoscopy, Obstetrics Endoscopy, Gastrointestinal Endoscopy, Bronchoscopy, Mediastinoscopy, urological Endoscopy, Others), and Region – Global Forecast to 2030.

Global Endoscopy Devices Market Report Scope:

Report Details
Market size value in 2023 USD 54.4 Billion
Market size value in 2030 USD 87.4 Billion
CAGR (2023-2030) 7%
Forecast Period 2023–2030
Historic Data 2019
Forecast Units Value (USD Million/USD Billion)
Segments Covered Product, Application and Region
Geographies Covered North America, Europe, Asia Pacific, and RoW
 
  • Boston Scientific Corporation or its affiliates
 
  • Ethicon Endo-Surgery LLC
Sample of Companies Covered
  • FUJIFILM Holdings Corporation
 
  • Karl Storz GmbH & Co. KG
 
  • Machida Endoscope Co., Ltd

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TOC Covers in Depth & Breath on Endoscopy Devices Market
170 – Market Data Tables
65 – List of Figures
225 – Pages

The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.

Market Overview

The Endoscopy Devices Market is a separation within the larger medical devices sector dedicated to creating, producing, and distributing tools and apparatus utilized in endoscopic operations. Endoscopy involves the insertion of specialized devices through natural body openings or small incisions to visualize internal organs and skins for diagnostic and therapeutic purposes. The rising incidence of gastrointestinal diseases, cancers, and other chronic conditions is driving an increasing need for diagnostic and therapeutic endoscopic procedures. Technological advancements in endoscopic imaging, visualization, and therapeutic capabilities, enhancing the accuracy, efficiency, and safety of procedures. Expanding applications of endoscopy devices across various medical specialties including gastroenterology, pulmonology, urology, gynecology, and otolaryngology. The demand for Endoscopy Devices Market has rise due to factors such as increasing asset in health care and expanding in demand for technology.  Growing healthcare spending, especially in developing nations, is bolstering investments in medical infrastructure and advancements in technology. The increasing recognition of the significance of early disease detection and screening initiatives is fueling the demand for endoscopic procedures.

Major vendors in the global Endoscopy Devices Market

  • Boston Scientific Corporation or its affiliates
  • Ethicon Endo-Surgery LLC
  • FUJIFILM Holdings Corporation
  • Karl Storz GmbH & Co. KG
  • Machida Endoscope Co., Ltd
  • Olympus Corporation
  • Pentax Medical
  • Richard Wolf GmbH
  • Smith & Nephew Inc
  • Stryker

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Growing Occurrence of Chronic Diseases

One of the primary drivers for the global Endoscopy devices market is the increasing demand for Growing Occurrence of Chronic Diseases Chronic diseases like gastrointestinal disorders, cardiovascular diseases, and cancers typically necessitate ongoing monitoring and diagnostic assessments. Endoscopy devices are pivotal in identifying these ailments as they enable physicians to visually inspect internal organs and muscles. The global population rapidly leading to a higher prevalence of chronic conditions associated with older age groups. Endoscopy is commonly used in the diagnosis and management of age-related diseases such as colorectal cancer, esophageal disorders, and gallstones. There is an increasing focus on preventive healthcare measures, which includes routine screenings for chronic diseases. As a result, patients often prefer endoscopic interventions for the management of chronic diseases when feasible, further driving market growth.

Market Dynamics

Drivers:

  • Growing Occurrence of Chronic Diseases
  • Rising asset in healthcare
  • Increasing Demand for Technology
  • Development of Disposable and Single-use Endoscopes

Opportunities:

  • Customization of Endoscopy Devices for Medical Specialties
  • Development of Advanced Endoscopic Technologies
  • Investment in Research and Development for Novel Endoscopic Procedures

Development of Advanced Endoscopic Technologies

The endoscopy devices market is experiencing significant growth due to the development of advanced endoscopic technologies. Endoscopic instruments are increasingly becoming smaller, more flexible, and maneuverable, enabling smoother navigation through complex anatomical structures and enhanced accessibility to inaccessible regions within the body. Patients ingest these devices, which capture images and transmit data wirelessly, enabling comprehensive screening and diagnosis of conditions such as gastrointestinal bleeding and inflammatory bowel disease. The advancement of sophisticated endoscopic technologies is driving progress and innovation within the endoscopy devices market. Advanced endoscopic technologies facilitate telemedicine efforts by allowing the instantaneous transfer of images and videos to distant locations for expert consultation and collaborative purposes. This progress is resulting in enhanced diagnostic and therapeutic abilities, improved patient outcomes, and elevated standards of care.

North America dominates the market for Endoscopy Devices Market.

North America is characterized by its advanced healthcare infrastructure, featuring state-of-the-art medical facilities and widespread adoption of cutting-edge technology. The region is a hub for medical research and technological innovation, leading to the development of cutting-edge endoscopy devices with enhanced capabilities. North America ranks among the regions with the highest healthcare expenditures worldwide, indicating significant investments in both medical equipment and services. Healthcare networks also positions North America as a dominant player in the market for endoscopy devices.

The Asia-Pacific region houses a vast and varied population, with a substantial segment residing in nations undergoing rapid economic development and urban expansion. This demographic shift leads to an increased incidence of diseases necessitating endoscopic interventions, thereby fueling the demand for endoscopy devices. The Asia-Pacific region’s leading position in the endoscopy devices market stems from its expansive population, rising healthcare spending, advancements in technology, initiatives to enhance healthcare accessibility, and the prevalence of chronic diseases. These factors collectively create a conducive environment for the growth and expansion of the endoscopy devices market in the region.

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The urological Endoscopy Segments is anticipated to hold the Largest Market Share during the Forecast Period

The forecast shows that within the realm of endoscopy, particularly in urology, the expectation is that this specific segment will command the largest market share compared to others in the foreseeable future. This prediction likely arises from several factors, including the increasing prevalence of urological conditions, advancements in endoscopic techniques and technologies within urology, growing demand for minimally invasive urological procedures, and the emergence of innovative endoscopic devices tailored for urological applications. Consequently, the urological endoscopy segment is anticipated to wield significant influence over the overall market dynamics during the forecast period.

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