The endoscopy devices market was valued for $28.06 billion in 2022 and is estimated to reach $44.09 billion by 2032, exhibiting a CAGR of 4.6% from 2023 to 2032. Endoscopy is a minimally invasive medical procedure used for diagnosis, prevention, and treatment of complications in visceral organs. Endoscopic devices are either inserted into the body through natural openings or cavities (such as anus and mouth) or through incisions, especially in the case of arthroscopy. Endoscopy devices are equipped with several other parts such as camera or light source at the tip to help physicians or medical professionals (endoscopists) to analyze internal organs of interest.
Endoscopy is used to evaluate various conditions such as stomach pain, ulcers, gastritis, digestive tract bleeding, cancerous growth in colon, and changes in bowel habits. Moreover, endoscopy is categorized based on areas of body that are investigated such as knee & joints (arthroscopy), lungs (bronchoscopy), colon (colonoscopy), abdominal & pelvic areas (laparoscopy), and others. Increase in incidences of targeted diseases such as colon cancer and gastrointestinal disorders propels the demand for endoscopic devices.
The rise in technological advancements and increase in prevalence rate of diseases that necessitate the use of endoscopy devices drive the market growth. The continuous evolution of technology has led to the development of more sophisticated and efficient endoscopy devices, which in turn fuel their demand in the market. Moreover, the preference of patients for minimally invasive surgeries plays a crucial role in boosting the market growth. Endoscopy procedures offer several benefits, including smaller incisions, reduced pain, and quicker recovery times, which have garnered widespread patient acceptance.
Furthermore, favorable regulatory approvals and the presence of reimbursement policies in developed economies facilitate market growth by ensuring greater accessibility to these devices. However, lack of trained physicians & endoscopists, side effects of endoscopy, and high costs associated with endoscopy devices are factors expected to hamper the market growth. On the contrary, unmet medical demands in developing countries are expected to create immense opportunities for endoscopy devices manufacturers globally in the future.
The endoscopy devices market is segmented on the basis of product, hygiene, application, end user, and region. On the basis of product, the market is categorized into endoscope, mechanical endoscopic equipment, visualization and documentation systems, accessories, and other endoscopy equipment. The endoscope segment is further classified into rigid endoscope, flexible endoscope, capsule endoscope, and robot-assisted endoscope. The rigid endoscope segment is further divided into laparoscopes, urology endoscope, gynecology endoscope, arthroscopes, cystoscopes, neuroendoscope, and other rigid endoscopes. The flexible endoscope segment is further divided into GI endoscope, ENT endoscope, bronchoscope, and others. The GI Endoscope is further segmented into Gastroscope, Colonoscope, Sigmoidoscope, Duodenoscope, and others. The ENT endoscope is further segmented into Nasopharyngoscope, Otoscope, Rhinoscope, Laryngoscope, and others.
The mechanical endoscopic equipment is further segmented by devices and by therapeutics. The mechanical endoscopic equipment, by devices is further divided into endoscopic implants, trocars, graspers, snares, biopsy forceps, and others. The mechanical endoscopic equipment, by therapeutics is further classified into biopsy (FNA and FNB), polypectomy (ESD and EMR), biliary stone management & drainage, hemostasis & suturing, esophageal & colon stricture management, gastroesophageal reflux disease (GERD) and obesity, and others.
The visualization & documentation systems segment is further categorized into Light sources, camera heads, wireless display & monitors, endoscopy cameras, carts, digital documentation systems, video processors & video convertors, transmitters & receivers, and others.
The accessories segment is further divided into biopsy valves, overtubes, mouth pieces, surgical dissectors, needle holders & needle forceps, cleaning brushes, light cables, and other accessories. The other endoscopy equipment is further fragmented into insufflators, endoscopy fluid management systems, and other electronic endoscopy equipment.
On the basis of hygiene, the market is segmented into single use, reprocessing and sterilization. On the basis of application, it is classified into bronchoscopy, arthroscopy, laparoscopy, urology endoscopy, neuroendoscopy, gastrointestinal endoscopy, gynecology endoscopy, ENT endoscopy, and others. By end user, it is segmented into hospitals, ambulatory surgery centers & clinics, and others. By region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The report provides a comprehensive analysis of the key players that operate in the global endoscopy devices market such as HOYA Corporation, Olympus Corporation, Stryker Corporation, Boston Scientific Corporation, Fujifilm Holdings Corporation, CONMED Corporation, Medtronic Plc, Karl Storz GmbH & Co. KG, Richard Wolf GmbH, Smith & Nephew, Plc, Johnson & Johnson, and Intuitive Surgical, Inc.
Endoscopy is used to evaluate various conditions such as stomach pain, ulcers, gastritis, digestive tract bleeding, cancerous growth in colon, and changes in bowel habits. Moreover, endoscopy is categorized based on areas of body that are investigated such as knee & joints (arthroscopy), lungs (bronchoscopy), colon (colonoscopy), abdominal & pelvic areas (laparoscopy), and others. Increase in incidences of targeted diseases such as colon cancer and gastrointestinal disorders propels the demand for endoscopic devices.
The rise in technological advancements and increase in prevalence rate of diseases that necessitate the use of endoscopy devices drive the market growth. The continuous evolution of technology has led to the development of more sophisticated and efficient endoscopy devices, which in turn fuel their demand in the market. Moreover, the preference of patients for minimally invasive surgeries plays a crucial role in boosting the market growth. Endoscopy procedures offer several benefits, including smaller incisions, reduced pain, and quicker recovery times, which have garnered widespread patient acceptance.
Furthermore, favorable regulatory approvals and the presence of reimbursement policies in developed economies facilitate market growth by ensuring greater accessibility to these devices. However, lack of trained physicians & endoscopists, side effects of endoscopy, and high costs associated with endoscopy devices are factors expected to hamper the market growth. On the contrary, unmet medical demands in developing countries are expected to create immense opportunities for endoscopy devices manufacturers globally in the future.
The endoscopy devices market is segmented on the basis of product, hygiene, application, end user, and region. On the basis of product, the market is categorized into endoscope, mechanical endoscopic equipment, visualization and documentation systems, accessories, and other endoscopy equipment. The endoscope segment is further classified into rigid endoscope, flexible endoscope, capsule endoscope, and robot-assisted endoscope. The rigid endoscope segment is further divided into laparoscopes, urology endoscope, gynecology endoscope, arthroscopes, cystoscopes, neuroendoscope, and other rigid endoscopes. The flexible endoscope segment is further divided into GI endoscope, ENT endoscope, bronchoscope, and others. The GI Endoscope is further segmented into Gastroscope, Colonoscope, Sigmoidoscope, Duodenoscope, and others. The ENT endoscope is further segmented into Nasopharyngoscope, Otoscope, Rhinoscope, Laryngoscope, and others.
The mechanical endoscopic equipment is further segmented by devices and by therapeutics. The mechanical endoscopic equipment, by devices is further divided into endoscopic implants, trocars, graspers, snares, biopsy forceps, and others. The mechanical endoscopic equipment, by therapeutics is further classified into biopsy (FNA and FNB), polypectomy (ESD and EMR), biliary stone management & drainage, hemostasis & suturing, esophageal & colon stricture management, gastroesophageal reflux disease (GERD) and obesity, and others.
The visualization & documentation systems segment is further categorized into Light sources, camera heads, wireless display & monitors, endoscopy cameras, carts, digital documentation systems, video processors & video convertors, transmitters & receivers, and others.
The accessories segment is further divided into biopsy valves, overtubes, mouth pieces, surgical dissectors, needle holders & needle forceps, cleaning brushes, light cables, and other accessories. The other endoscopy equipment is further fragmented into insufflators, endoscopy fluid management systems, and other electronic endoscopy equipment.
On the basis of hygiene, the market is segmented into single use, reprocessing and sterilization. On the basis of application, it is classified into bronchoscopy, arthroscopy, laparoscopy, urology endoscopy, neuroendoscopy, gastrointestinal endoscopy, gynecology endoscopy, ENT endoscopy, and others. By end user, it is segmented into hospitals, ambulatory surgery centers & clinics, and others. By region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The report provides a comprehensive analysis of the key players that operate in the global endoscopy devices market such as HOYA Corporation, Olympus Corporation, Stryker Corporation, Boston Scientific Corporation, Fujifilm Holdings Corporation, CONMED Corporation, Medtronic Plc, Karl Storz GmbH & Co. KG, Richard Wolf GmbH, Smith & Nephew, Plc, Johnson & Johnson, and Intuitive Surgical, Inc.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the endoscopy devices market analysis from 2022 to 2032 to identify the prevailing endoscopy devices market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the endoscopy devices market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global endoscopy devices market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Hygiene
- Single-use
- Reprocessing
- Sterilization
By Product
- Accessories
- Type
- Biopsy valves
- Overtubes
- Mouth pieces
- Surgical dissectors
- Needle holders and needle forceps
- Cleaning brushes
- Light cables
- Others
- Others
- Type
- Insufflators
- Endoscopy fluid management systems
- Others
- Endoscope
- Type
- Rigid Endoscope
- Type
- Flexible Endoscope
- Type
- Capsule Endoscope
- Robot-Assisted Endoscope
- Mechanical Endoscopic Equipment
- Devices
- Endoscopic implants
- Trocars
- Graspers
- Snares
- Biopsy forceps
- Others
- Therapeutic Procedure
- Biopsy
- Polypectomy
- Biliary Stone Management and Drainage
- Hemostasis and Suturing
- Esophageal and Colon Stricture Management
- Gastroesophageal Reflux Disease and Obesity
- Others
- Visualization and Documentation Systems
- Type
- Light sources
- Camera heads
- Wireless display and monitors
- Endoscopy cameras
- Carts
- Digital documentation systems
- Video processors and video convertors
- Transmitters and receivers
- Others
By Application
- Bronchoscopy
- Arthroscopy
- Laparoscopy
- Urology endoscopy
- Neuroendoscopy
- Gastrointestinal endoscopy
- Gynecology endoscopy
- ENT endoscopy
- Others
By End User
- Hospitals
- Ambulatory Surgery Centers and Clinics
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- South Korea
- India
- Taiwan
- Malaysia
- Singapore
- Vietnam
- Philippines
- Thailand
- Indonesia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Turkey
- Chile
- Colombia
- Rest of LAMEA
Key Market Players
- Boston Scientific Corporation
- CONMED Corporation.
- FUJIFILM Holdings Corporation
- HOYA Corporation
- Intuitive Surgical, Inc.
- Johnson & Johnson
- KARL STORZ GmbH & Co. KG
- Medtronic plc
- Olympus Corporation
- Richard Wolf GmbH
- Smith and Nephew plc.
- Stryker Corporation.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ENDOSCOPY DEVICES MARKET, BY PRODUCT
CHAPTER 5: ENDOSCOPY DEVICES MARKET, BY HYGIENE
CHAPTER 6: ENDOSCOPY DEVICES MARKET, BY APPLICATION
CHAPTER 7: ENDOSCOPY DEVICES MARKET, BY END USER
CHAPTER 8: ENDOSCOPY DEVICES MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to this report, the endoscopy devices market was valued at $28.1 billion in 2022, and is estimated to reach $44.1 billion by 2032, growing at a CAGR of 4.6% from 2023 to 2032.The endoscopy devices market is likely to experience a significant growth rate of 4.6% from 2023-2032 owing to increasing market demand of endoscope segment
The endoscopy devices industry involved in the manufacturing, distribution, and sale of medical devices used in endoscopic procedures. Endoscopy is a minimally invasive medical technique that allows healthcare professionals to examine and visualize the internal organs and structures of the body using an endoscope, a long, flexible tube with a camera and light source attached to it. These devices aid in diagnosing and treating various medical conditions without the need for extensive surgery, leading to reduced patient trauma, faster recovery times, and lower healthcare costs.
Endoscopy as a modality is a very safe procedure as there are rare cases of complications involved. Most patients tolerate endoscopy efficiently and feel better later. Fatigue is common after examination; however, patients recover with proper rest for a day. Additionally, rise in adoption of minimally invasive surgeries propels use of various endoscopes in surgical procedures, such as arthroscopy, laparoscopy, bronchoscopy, and cystoscopy. Compared to open surgeries, these procedures result in quicker recovery and lesser trauma to patients. Thus, minimally invasive surgical procedures are preferred over open/invasive surgeries and are expected to increase demand for minimally invasive endoscopic devices over the forecast period.
Furthermore, the shift toward minimally invasive surgeries is also attributed to higher patient satisfaction, economic viability, relatively shorter hospital stay, and reduced postsurgical complications. Thus, demand for minimally invasive endoscopic surgeries is expected to increase demand for endoscopy devices during the forecast period.
In addition, growing awareness of the importance of early disease detection and routine health screenings has led to an uptick in endoscopic procedures. Public health initiatives and screening programs aimed at detecting conditions like colorectal cancer have encouraged individuals to undergo endoscopy, thus boosting the demand for related devices.
Moreover, the market is expected to be further driven by strategic initiatives such as collaborations, portfolio expansion and partnerships among key players. These collaborations allow for the sharing of expertise, resources, and technologies, leading to the development of innovative devices and driving market growth. For instance, in June 2020, HOYA Corporation and Hitachi, Ltd., announced a five-year contract regarding Endoscopic Ultrasound Systems [EUS] by which, it will strengthen technical collaboration, and Hitachi will continue supplying diagnostic ultrasound systems and ultrasound sensor related parts used in EUS. In addition, in January 2023, FUJIFILM Holdings Corporation announced the expansion of its endoscopy solutions portfolio by launching the ClutchCutter and FushKnife. Thus, such adoption of strategies by key players is further driving the market growth.
The endoscopy devices market is segmented on the basis of product, hygiene, application, end user, and region. On the basis of product, the market is categorized into endoscope, mechanical endoscopic equipment, visualization and documentation systems, accessories, and other endoscopy equipment. The endoscope segment is further classified into rigid endoscope, flexible endoscope, capsule endoscope, and robot-assisted endoscope. The rigid endoscope segment is further divided into laparoscopes, urology endoscope, gynecology endoscope, arthroscopes, cystoscopes, neuroendoscope, and other rigid endoscopes. The flexible endoscope segment is further divided into GI endoscope, ENT endoscope, bronchoscope, and others. The GI Endoscope is further segmented into Gastroscope, Colonoscope, Sigmoidoscope, Duodenoscope, and others. The ENT endoscope is further segmented into Nasopharyngoscope, Otoscope, Rhinoscope, Laryngoscope, and others.
The mechanical endoscopic equipment is further segmented by devices and by therapeutics. The mechanical endoscopic equipment, by devices is further divided into endoscopic implants, trocars, graspers, snares, biopsy forceps, and others. The mechanical endoscopic equipment, by therapeutics is further classified into biopsy (FNA and FNB), polypectomy (ESD and EMR), biliary stone management & drainage, hemostasis & suturing, esophageal & colon stricture management, gastroesophageal reflux disease (GERD) and obesity, and others.
The visualization & documentation systems segment is further categorized into Light sources, camera heads, wireless display & monitors, endoscopy cameras, carts, digital documentation systems, video processors & video convertors, transmitters & receivers, and others.
The accessories segment is further divided into biopsy valves, overtubes, mouth pieces, surgical dissectors, needle holders & needle forceps, cleaning brushes, light cables, and other accessories. The other endoscopy equipment is further fragmented into insufflators, endoscopy fluid management systems, and other electronic endoscopy equipment.
On the basis of hygiene, the market is segmented into single use, reprocessing and sterilization. On the basis of application, it is classified into bronchoscopy, arthroscopy, laparoscopy, urology endoscopy, neuroendoscopy, gastrointestinal endoscopy, gynecology endoscopy, ENT endoscopy, and others. By end user, it is segmented into hospitals, ambulatory surgery centers & clinics, and others. By region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The report provides a comprehensive analysis of the key players that operate in the global endoscopy devices market such as HOYA Corporation, Olympus Corporation, Stryker Corporation, Boston Scientific Corporation, Fujifilm Holdings Corporation, CONMED Corporation, Medtronic Plc, Karl Storz GmbH & Co. KG, Richard Wolf GmbH, Smith & Nephew, Plc, Johnson & Johnson, and Intuitive Surgical, Inc. Key players operating in the market have adopted product approval, agreement, expansion and product launch as their key strategies to expand their product portfolio.
Key Market Insights (Updated)
On the basis of product, endoscope segment dominated the market in terms of revenue in 2022.
On the basis of hygiene, the reprocessing segment dominated the market in terms of revenue in 2022. However, the single- use segment is anticipated to grow at the highest CAGR during the forecast period.
On the basis of application, the gastrointestinal endoscopy segment dominated the market in terms of revenue in 2022. However, the laparoscopy segment is anticipated to grow at the highest CAGR during the forecast period.
On the basis of end-user, the hospitals segment dominated the market in terms of revenue in 2022. However, the ambulatory surgery centers & clinics segment is anticipated to grow at the highest CAGR during the forecast period.
Region wise, North America generated the largest revenue in 2022. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
Companies Mentioned
- Boston Scientific Corporation
- CONMED Corporation.
- FUJIFILM Holdings Corporation
- HOYA Corporation
- Intuitive Surgical, Inc.
- Johnson & Johnson
- KARL STORZ GmbH & Co. KG
- Medtronic plc
- Olympus Corporation
- Richard Wolf GmbH
- Smith and Nephew plc.
- Stryker Corporation.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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