Endoscopy Devices Market to Register 9% CAGR as Demand Soars Amid Growing Gastrointestinal Diseases Prevalence

Sales of Endoscopy Devices to Increase by 2.3x, Surpassing US$ 113.8 Bn by 2032

In the latest study, Fact.MR comprehensively explicates the key factors including drivers, challenges, opportunities, and latest developments affecting the sales of endoscopy devices. It also covers the historical and forecast data for the period 2022-2032.  The report also delves the key trends promoting the growth in the endoscopy devices market through multiple segments including type, application, end use, and regions.

NEW YORK, April 4, 2022 /PRNewswire/ -- The global endoscopy devices market is expected to reach nearly US$ 113.8 Bn, exhibiting growth at a CAGR of 9% between 2022 and 2032. Prevalence of age-related disorders such as gastrointestinal disorders, respiratory diseases, and hearing loss is driving the endoscopy devices market.

Additionally, the growing demand for less invasive treatments among the elderly population is likely to spur the sales of endoscopy devices. On the back of this, the use of endoscopy devices in surgical procedures such as bronchoscopy, arthroscopy, laparoscopy, and cystoscopy is increasing.

Subsequently, growing prevalence of cancer is surging the demand for biopsies for early detection and diagnosis purpose. This is expected to augment the sales of endoscopy devices.

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Rising incidence of hospital-acquired infections (HAIs) is propelling the demand for disposable endoscopes which, in turn, will drive the endoscopy devices market.

Besides this, favorable reimbursement policies for endoscopy procedures, especially in India and the U.K., is likely to boost the endoscopy devices market. Furthermore, introduction of robot-assisted software and hardware in healthcare sector is expected to fuel the growth in the market.

Key Takeaways:

• In terms of application, gastrointestinal (GI) endoscopy segment is projected to lead the market, exhibiting growth at a CAGR of 10.0% between 2022 and 2032.
• Based on type, the endoscopes segment is expected to exhibit growth at 11.1% CAGR during the assessment period.
• The U.S. endoscopy devices market is estimated to create an absolute $ growth opportunity of US$ 20 Bn
• Endoscopy visualization systems segment is projected to create an absolute $ growth opportunity of nearly US$ 24 Bn during the forecast period.

Growth Drivers:

• Increasing incidence of chronic illnesses such as orthopedic disorders, ophthalmic disorders, gastrointestinal disorders, and other disorders is likely to bolster the growth in the market.
• Rising demand for technologically improved visualization systems in the healthcare sector for early diagnosis will spur the sales of endoscopy devices.

Restraints:

• Lack of skilled physicians in underdeveloped countries such as Brazil, Vietnam, and others is projected to hinder the growth in the market.
• High cost of endoscopy devices and endoscopic procedures in emerging countries will limit the sales of endoscopy devices.

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Competitive Landscape:

Key players in the global endoscopy devices market are adopting strategies such as advancing the production capabilities and updating the product line to expand their business across the healthcare sector.

Furthermore, they are also adopting novel business tactics including acquisitions, collaborations, partnerships, and joint ventures to strengthen their footprint globally.

For instance,

• In 2020, Pentax Medical developed J10 series of ultrasound video gastroscopes. This new device with ergonomic design, high flexibility, and superior image quality fulfils the market and clinical needs.
• In 2021, Fujifilm Holdings Corporation developed ELUXEO 7000X System. It is a video imaging technology that enables real-time visualization of the hemoglobin-oxygen saturation levels in the tissues at the time of endoluminal imaging and laparoscopic procedures.

Key Companies Profiled by Fact.MR

• Olympus Corporation
• Stryker Corporation
• FUJIFILM Holdings Corporation
• Medrobotics Corporation
• Smith & Nephew Plc
• Boston Scientific Corporation
• Pentax Medical
• Karl Storz GmbH & Co. KG
• Medtronic Plc
• Hoya Corporation
• Johnson & Johnson
• Richard Wolf GmbH

More Valuable Insights on Endoscopy Devices Market

Fact.MR's latest report on global endoscopy devices market offers in-depth analysis on the key growth drivers for the forecast period of 2022 to 2032. This study also covers the opportunities and challenges expected to influence the growth in the endoscopy devices market through detailed segmentation as follows:

By Type:

• Endoscopes
• Endoscopy Visualization Systems 
• Endoscopy Visualization Component
• Operative Devices

By Application:

• Gastrointestinal (GI) endoscopy
• Laparoscopy
• Obstetrics/ Gynecology endoscopy
• Arthroscopy
• Urology endoscopy (cystoscopy)
• Bronchoscopy
• Mediastinoscopy
• Otoscopy
• Laryngoscopy
• Other applications

By End Use:

• Hospitals
• Ambulatory Surgery Centers
• Other end-uses

By Region:

• North America
• Latin America
• Europe
• APAC
• MEA

Key Questions Covered in the Endoscopy Devices Market Report

• Which are the drivers propelling the growth in the endoscopy devices market?
• What is the anticipated growth rate of global endoscopy devices market until 2032?
• What is the projected market value of endoscopy devices market in 2022?
• Which are the challenges impeding growth of the global endoscopy devices market?
• Who are the key manufacturers operating in the global endoscopy devices market?

Explore Fact.MR's Coverage on the Healthcare Domain

Endoscopy Ultrasound Market: Increasing prevalence of gastrointestinal cancer is propelling the demand for endoscopy ultrasound in the coming years. Additionally, the growing demand for minimally invasive endoscopic procedure to diagnose gastrointestinal and lung diseases will drive the market.

ENT Endoscopy Market: Growing prevalence of ear-related diseases such as chronic rhinosinusitis, Otis media, and hearing loss is propelling the demand for ENT endoscopy. In addition to this, rising demand for innovative endoscopy devices and minimally invasive procedures is projected to augment the sales in the market.

Disposable Endoscopes Market: The global disposable endoscopes market is poised to expand at a healthy rate owing to the rising incidence of hospital-acquired infections (HAIs). Furthermore, growing awareness about non-invasive procedures and prevalence of chronic diseases is driving the market.

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