What Is The Current and Historic Market Size Analysis Of Endoscopy Devices And Equipment Market?
The endoscopy devices and equipment market has seen considerable growth due to a variety of factors.
• In recent times, there has been vigorous growth in the market size of endoscopy devices and equipment. The market is projected to increase from $43.06 billion in 2024 to $46.06 billion in 2025, with a compound annual growth rate (CAGR) of 7.0%.
The past growth surge in this market can be associated with the escalating prevalence of gastrointestinal ailments, the growing approval of endoscopic operations, more healthcare spending, and a boom in medical tourism.
What Are The Estimated Market Size And Expected Annual Growth Rates For Globa Endoscopy Devices And Equipment Market?
The endoscopy devices and equipment market is expected to maintain its strong growth trajectory in upcoming years.
• In the ensuing years, forecasters predict significant strides in growth for the market size of endoscopy devices and equipment, expected to burgeon to $60.09 billion by 2029, with a compound annual growth rate (CAGR) of 6.9%.
The growth projection for this period can be linked to factors such as an aging population, spike in chronic diseases, rising obesity rates, and recent regulatory approvals. There are several noteworthy trends for the estimation period such as integration of artificial intelligence (AI) and machine learning, utilisation of single-use endoscopes and enhanced visualization technology. Other emerging trends include innovation in disinfection technology for endoscopes, 3D imaging technology, advanced robotics, wireless endoscopes and dual-channel endoscopes. Additionally, real-time visualization systems for endoscopes, wireless capsule endoscopy, improved data management systems and miniaturization of endoscopes are also expected to drive the growth.
What Are the Critical Driver Fuelling the Endoscopy Devices And Equipment Market's Growth?
The growth of the rigid endoscope market is anticipated to be fueled by the rising incidence of cancer and gastrointestinal diseases. Cancer is associated with the unusual proliferation of cells which results in organ and tissue dysfunction, while gastrointestinal ailments pertain to digestive system disorders. Endoscopes are instrumental in identifying and managing these conditions, enabling healthcare providers to peer into the patient's body, conduct biopsies, and carry out minimally invasive procedures, paving the way for early detection and effective treatment. For instance, a report published by the World Health Organization, a Switzerland-based global public health organization, in February 2024 stated that by 2050, the world will witness over 35 million new cancer cases, reflecting a 77% increase from the 20 million cases in 2022. Consequently, the escalating occurrence of cancer and gastrointestinal diseases is guiding the expansion of the endoscopy devices and equipment market.
What Are The Key Segments Within The Global Endoscopy Devices And Equipment Market?
The endoscopy devices and equipment market covered in this report is segmented –
1) By Product: Endoscope, Endoscopy Operative Devices, Endoscopy Visualization Systems
2) By Application: Bronchoscopy, Arthroscopy, Laparoscopy, Urology Endoscopy, Neuroendoscopy, Gastrointestinal Endoscopy, Obstetrics/Gynecology Endoscopy, ENT Endoscopy, Other Applications
3) By End-User: Hospitals, Clinics, Other End-Users
Subsegments:
1) By Endoscope: Rigid Endoscopes, Flexible Endoscopes, Capsule Endoscopes, Surgical Endoscopes
2) By Endoscopy Operative Devices: Biopsy Forceps, Graspers, Scissors, Electrocautery Devices, Snares
3) By Endoscopy Visualization Systems: Video Endoscopy Systems, High-Definition (HD) Endoscopy Systems, Visualization Software, Light Sources, Image Management Systems
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How Are New Trends Impacting The Size Of The Endoscopy Devices And Equipment Market?
Leading corporations in the endoscopy devices and equipment market are innovating and creating technologically superior products like gastrointestinal videoscopes. These are indispensable medical tools that facilitate the visualization and diagnosis of gastrointestinal tract conditions. They achieve this through a flexible tube armed with a camera, enabling real-time imaging during endoscopy procedures. For example, Olympus Corporation, a medical technology firm based in Japan, launched the EVIS X1 endoscopy system in October 2023. The system comes with multiple advanced features aimed at enhancing visibility and simplifying procedures. The Texture and Color Enhancement Imaging (TXI) technology of the system helps improve the detection of lesions and polyps by enhancing both image texture and color. Furthermore, Red Dichromatic Imaging (RDI) technology improves the visibility of deep blood vessels and bleeding points, and the Brightness Adjustment Imaging with Maintenance of Contrast (BAI-MAC) optimizes brightness in darker areas without overexposing the lighter regions, thus enhancing visibility. The EVIS X1 also integrates Narrow Band Imaging (NBI) technology that boosts the examination of mucosal and vascular patterns through specific wavelengths absorbed by hemoglobin. The system features a CV-1500 video system center with a touch panel making procedures more efficient by enabling users to adjust settings and image data on a single device. The MyCV mode in the system also empowers doctors to customize imaging configurations and manage a variety of functions with a single button on the scope.
Who Are the Key Players in the Endoscopy Devices And Equipment Market?
Major companies operating in the endoscopy devices and equipment market include:
• Olympus Corporation
• Boston Scientific Corporation
• Stryker Corporation
• Fujifilm
• Karl Storz SE & Co. KG
• Johnson & Johnson
• Hoya Corporation
• Cook Medical
• Smith & Nephew
• Conmed Corporation
• Healthium MedTech
• Leo Medical Co Ltd
• Shanghai Aohua Photoelectricity Endoscope Co Ltd
• CR Kennedy & Company
• GE Healthcare
• Transmed
• Fisher & Paykel Healthcare India Private Limited
• Agappe Diagnostics Ltd
• Richard Wolf GmbH
• B. Braun
• Baxter
• Philips
• Siemens
• Pentax Medical
• Lenox Instrument Co
• Endo Gatric Solutions Inc
• Endo Medical
• Medtronic plc
• Kimberly-Clark Corporation
• Cardinal Health Inc
• Abu Dhabi Medical Devices Company
• Amico Group
• Bridgeway Medical Systems
What are the Regional Insights into the Endoscopy Devices And Equipment Market?
North America was the largest region in the global endoscopy devices and equipment market in 2024. Asia-Pacific was the second largest market in endoscopy devices and equipment market. The regions covered in the endoscopy devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
