Endoscopy Equipment Market is Expected to Reach $46.2 billion | MarketsandMarkets™

Chicago, April 17, 2024 (GLOBE NEWSWIRE) — Endoscopy Equipment market in terms of revenue was estimated to be worth $32.3 billion in 2024 and is poised to reach $46.2 billion by 2029, growing at a CAGR of 7.4% from 2024 to 2029 according to a latest report published by MarketsandMarkets™.

The global endoscopy equipment market is experiencing substantial growth due to many driving factors, including surging requirement for endoscopy to diagnose and treat target diseases, increasing investments, funds, and grants by governments and other organizations worldwide, growing focus of hospitals to invest in technology advanced endoscopy instruments and expand endoscopy units, ongoing advancements in endoscopic technologies to ensure patient safety and achieve more accurate treatments, rising incidence of IBD and CRC that require endoscopy procedures. Drivers such as Increasing preference for minimally invasive surgeries, adoption of single-use endoscopy instruments to prevent infectious diseases and offer increased efficiency and safety, and rising focus of medical specialities to shift from manual to automated endoscopy reprocessing are also contributing towards the overall growth of the global endoscopy equipment market.

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Endoscopy Equipment Market Scope:

Report Coverage Details
Market Revenue in 2024 $32.3 billion
Estimated Value by 2029 $46.2 billion
Growth Rate Poised to grow at a CAGR of 7.4%
Market Size Available for 2021–2029
Forecast Period 2024–2029
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Endoscopy Equipment Market:
Product, Application and End User
Geographies Covered
  • North America

US

Canada

  • Europe

Germany

UK

France

Spain

Italy

Rest of Europe

  • Asia Pacific

China

Japan

India

Australia

South Korea

Rest of Asia Pacific (RoAPAC)

  • Latin America

Brazil

Mexico

Argentina

Rest of Latin America (RoLA)

  • Middle East & Africa
  • GCC Countries
Report Highlights Updated financial information / product portfolio of players
Key Market Opportunity Booming healthcare sector in developing economies
Key Market Driver Growing focus of hospitals to invest in technologically advanced endoscopy instruments and expand endoscopy units

In this report, the endoscopy equipment market is segmented into product type, application type, end user, and region.
Based on product type, the endoscopy equipment market is divided into endoscopes, visualization systems, other endoscopy equipment, and accessories. As of 2023, the accessories segment accounted the third largest share in the global endoscopy equipment market. The market share can be attributed to the factors that there are a side variety of accessories designed for specific procedures and functionalities and they are compatible with various models from the manufacturers.

Based on the type of applications, the endoscopy equipment market includes segments such as gastrointestinal endoscopy, laparoscopy, arthroscopy, obstetrics/gynaecology endoscopy, urology endoscopy, bronchoscopy, mediastinoscopy, ENT endoscopy, and other specialized applications. Among these, the arthroscopy segment accounted the fourth largest share of the overall endoscopy equipment market in 2023. This dominance is primarily attributed to demographic shifts, particularly the aging population in key regions like the US, China, Japan, and India. Additionally, the increased prevalence of joint injuries like ligament tears, meniscus damage, and rotator cuff injuries among younger adults has heightened awareness about the importance of arthroscopy, contributing to the segment’s significant growth rate.

Based on end users, the endoscopy equipment market is segmented into hospitals, ambulatory surgery centers/clinics and other end user. The other end user segment accounted for the third largest share in the endoscopy equipment market in 2023. This dominance can be attributed to several driving factors. Diagnostic Laboratories, Research Institutions has nowadays started to implement new technologies and advanced procedures. Additionally, the increasing prevalence of complex medical conditions requiring diagnostic endoscopic procedures further amplifies the demand for such equipment within diagnostic centers, solidifying their position in this market.

Based on the regions, in 2023, North America emerged as the dominant region in the endoscopy equipment market, followed by Europe, APAC, Latin America and Middle East and Africa. This leadership position is owed to substantial investments made by hospitals towards procuring advanced endoscopic equipment, coupled with a strong emphasis on research aimed at refining endoscopy techniques. Additionally, favorable reimbursement policies for endoscopic procedures in the US and the adoption of innovative funding models by hospitals in Canada further bolstered the region’s prominence.

Meanwhile, in the Asia Pacific market, particularly in China and India, a higher compound annual growth rate (CAGR) is anticipated throughout the forecast period. This growth trajectory is underpinned by various factors including escalating demand for minimally invasive surgical procedures, rising healthcare expenditure, the proliferation of hospitals, an expanding patient population, continuous improvements in healthcare infrastructure, and supportive government policies promoting the use of single-use endoscopy devices. Notably, leading market players are strategically focusing on launching new products and enhancing existing ones to fortify their product portfolios and expand their distribution networks.

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Endoscopy Equipment market major players covered in the report, such as:

  • Olympus Corporation (Japan)
  • KARL STORZ SE & Co. KG (Germany)
  • Boston Scientific Corporation (US)
  • JOHNSON & JOHNSON (US)
  • Stryker Corporation (US)
  • Medtronic, plc (Ireland)
  • Fujifilm Holdings Corporation (Japan)
  • HOYA Corporation (Japan)
  • Nipro Corporation (Japan)
  • Smith & Nephew plc (UK)
  • Intuitive Surgical, Inc. (US)
  • and Among Others

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The research report categorizes the endoscopy equipment market into the following segments:

Endoscopy Equipment Market, By Product         

  • Endoscope
  • Visualization System
  • Other Endoscope Equipment
  • Accessories

Endoscopy Equipment Market, By Application

  • Gastrointestinal Endoscopy
  • Laparoscopy
  • Obstetrics/ Gynecology Endoscopy
  • Arthroscopy
  • Urology Endoscopy (Cystoscopy)
  • Bronchoscopy
  • Ent Endoscopy
  • Mediastinoscopy
  • Other Applications

Endoscopy Equipment Market, By End User

  • Hospitals
  • Ambulatory Surgery centers/Clinics
  • Other End Users

Endoscopy Equipment Market, by region

  • North America
    • US
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific (RoAPAC)
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America (RoLA)
  • Middle East & Africa
  • GCC Countries

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Key Market Stakeholders:

  • Manufacturing companies of endoscopes and related devices
  • Suppliers and distributors of endoscopy devices
  • Hospitals, diagnostic centers, and medical colleges
  • Independent surgeons and private offices of physicians
  • Ambulatory surgery centers
  • Teaching hospitals and academic medical centers

Report Objectives:

  • To describe, analyze, and forecast the endoscopy equipment market, by product, application, end user, and region
  • To describe and forecast the endoscopy equipment market for key regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa
  • To provide detailed information regarding drivers, restraints, opportunities, and challenges influencing the market growth
  • To strategically analyze the ecosystem, regulations, patent landscape, trade landscape, and case studies pertaining to the market under study
  • To provide a detailed overview of the supply chain pertaining to the endoscopy equipment market, along with the average selling price of different types of endoscopy equipment
  • To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market
  • To analyze market opportunities for stakeholders and provide details of the competitive landscape for market players.
  • To profile key players and comprehensively analyze their market shares and core competencies2 in the endoscopy equipment market
  • To analyze competitive developments such as partnerships, collaborations, alliances & acquisitions, product launches, expansions, and R&D activities in the endoscopy equipment market.

Related Reports:

Neurovascular Devices Market

Endoscope Reprocessing Market

Laparoscopic Instruments Market

Minimally Invasive Surgical Instruments Market

Medical Cameras Market

Research Insights: https://www.marketsandmarkets.com/ResearchInsight/endoscopy-devices-market.asp

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