Endoscopy Devices Market Size, Share, Sales, Analysis, Forecast, Industry Competition & Player Profiles 2023-2032
The market for endoscopy devices was valued at US$ 43 billion in 2021 and is anticipated to grow at a CAGR of 7.2% from 2023 to 2032.
Rising diagnosis treatments for cancer, and other chronic diseases remains a major growth prospect for players in the endoscopy devices market. An endoscopy is another word for ‘looking inside’, and in the context of medical treatment, its application continues to grow. Due to growing complexity of major illnesses, and advancements in the medical field, biopsy is essential for detection of chronic illnesses like cancer. According to National Cancer Institute, the rate of new cases of cancer is 442.4 per 100,000 men and women in United States.
Moreover, cancer mortality results in 158.3 per cases per 100,000. Furthermore, in most forms of cancers, conventional diagnosis methods like X-ray, and CT scans fail to differentiate between cancerous, and benign growth of cells. Biopsy is often the only way for doctors to be sure of the diagnosis. The growing incidences of cancer, rising awareness about the biopsy procedures, and advancement in endoscopy devices will likely drive major growth for the endoscopy devices market.
Gastronomical Procedures Likely to Emerge as Strongest Draw for Growth in the endoscopy devices Market
According to a study published in the New England Medical Journal, 10 million endoscopies gastronomical procedures are performed each year in United States. Endoscopy is a key part of the gastronomical procedures, as physicians use the procedure to detect a wide variety of conditions such as diarrhoea, bleeding, inflammation, cancers of the digestive systems, and anaemia.
Some of these diseases are present a major challenge to the healthcare system today. For example, according to American College of Gastronomy, 10% to 15% adults in the United States suffer from Irritable Bowel Syndrome or IBS. Moreover, only 5% to 7% adults are diagnosed with IBS.
It also remains on the list of the most diagnosed list by physicians, and Center for Disease Prevention and Control recognizes that it is often coupled with chronic conditions. Hence, preventive detection of this disease is essential, and lifestyle patterns such as sedentary lifestyle, unhealthy eating habits, rise of other illnesses like cardiovascular disease will likely worsen its impact in the adult population.
The rise in demand for gastronomical procedures, growth in elderly population, and worsening health conditions will likely drive growth for players in the endoscopy devices market.
Urology Endoscopy To Remain a Key Driver for Growth
Rising elderly population, and rise of diseases like bladder cancer will remain key drivers of growth in the endoscopy devices market. According to the American Cancer society, over 80,000 patients were diagnosed with bladder cancer in 2019 in the US. Moreover, the condition is likely to result in nearly 20,000 deaths in 2019. Conventionally, the urinary disorders, and examination of urinary tract have remained major application of endoscopy.
The reliance of chronically-ill patients on hospitalization, and need for biopsies, and close examination of urinary tract remain a key driver for growth. Moreover, recent advancements in endoscopy devices have put robotic-assisted endoscopy, or disposable endoscopes a ground reality for advanced application. Furthermore, the FDA has also streamlined approval process to enable expansion of advanced medical devices like single-use cystoscopy among others.
On the consumer side, the factors such as lack of exercise, rising sedentary lifestyle, and growth of cystoscopy will remain major factors for rising demand for endoscopy. Moreover, rising urinary disorders, and rising incidences of ureteroscopy interventions will also drive growth for players in the endoscopy devices market.
The key players of this market are Olympus Corporation, HOYA Corporation, Fujifilm Holdings Corporation, Boston Scientific Corporation, CONMED Corporation, Stryker Corporation, Smith & Nephew Plc, Medtronic Plc, KARL STORZ GmbH & Co. KG, Johnson & Johnson and others.
The Endoscopy Devices Market Will be Segmented as Follows:
By Product
- Endoscopes
- Rigid Endoscopes
- Laparoscopes
- Arthroscopes
- Urology Endoscopes
- Cystoscopes
- Gynecology Endoscopes
- Neuroendscopes
- Other Rigid Endoscopes
- Flexible Endoscopes
- Upper Gastrointestinal Endoscopes
- Colonoscopes
- Bronchoscopes
- Sigmoidoscopes
- Laryngoscopes
- Pharyngoscopes
- Duodenoscopes
- Nasopharyngoscopes
- Rhinoscopes
- Other Flexible Endoscopes
- Capsule Endoscopes
- Rigid Endoscopes
- Visualization Systems
- Wireless Display & Monitors
- Endoscopic light Sources
- Video Convertors
- Video Recorders
- Video Processors
- Camera Heads
- Light Sources
- Transmitters and Receivers
- Carts
- Others
- Other Endoscopy Equipment
- Electronic Endoscopy Equipment
- Insufflators
- Endoscopy Fluid Management Systems
- Endoscopic Ultrasound (EUS)
- Other Electronic Endoscopy Instruments
- Mechanical Endoscopy Equipment
- Biopsy Forceps
- Graspers
- Snares
- Trocars and Cannulas
- Other Mechanical Endoscopy Instruments
- Electronic Endoscopy Equipment
- Accessories
- Light cables
- Cleaning Brushes
- Surgical Dissectors
- Needle Holders & Needle Forceps
- Fluid-flushing Devices
- Mouth Pieces
- Overtubes
- Biopsy Valves
- Other endoscopy accessories
By Application
- Gastrointestinal (GI) Endoscopy
- Laparoscopy
- Obstetrics/Gynecology Endoscopy
- Arthroscopy
- Urology Endoscopy (Cystoscopy)
- Bronchoscopy
- Mediastinoscopy
- ENT Endoscopy
- Others Applications
By End User
- Hospitals
- Ambulatory Surgical Centers/Clinics
- Others (mobile endoscopy facilities and office endoscopy services)
By Region
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- India
- China
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- South America
- Brazil
- Rest of South America
Frequently asked questions about this report
What is the anticipated CAGR for the market?
The endoscopy devices market is anticipated to expand at a CAGR of 7.2% from 2023 to 2032.
What are the prominent endoscopy devices market players across the globe?
Major players operating in the endoscopy devices market include Olympus Corporation, HOYA Corporation, Fujifilm Holdings Corporation, Boston Scientific Corporation, CONMED Corporation, Stryker Corporation.
What are the end-use segments in the endoscopy devices market?
Rising diagnosis treatments for cancer, and other chronic diseases remains a major growth prospect for players in the endoscopy devices market.
What are the factors driving the endoscopy devices market?
The growing geriatric population and the incidence of illnesses like bladder cancer will continue to be major drivers of market growth for endoscopic devices.
Which region accounted for the largest endoscopy devices market share?
Due to a growth in the demand for minimally invasive procedures, an increase in the incidence of diseases including urinary and colorectal cancer, as well as a rise in the number of elderly people, North America accounted for the greatest revenue share.
What was the market for endoscopy devices valued at in 2021?
The endoscopy devices market was valued at US$ 43 billion in 2021.