Endoscopy Devices Market Size to Surpass Around US$ 85 Bn by 2032

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The global endoscopy devices market size was valued at USD 49.28 billion in 2022 and it is predicted to grow to USD 85 billion by 2030, at a CAGR of 7.05% during the forecast period 2022 to 2030.

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Key Takeaway

By product, the endoscopy visualization systems segment has held 37% revenue share in 2021.
By end user, the hospitals segment has accounted 48% revenue share in 2021.
By application, the gastrointestinal (GI) endoscopy segment has captured revenue share of around 55.2% in 2021.
The urology endoscopy application segment is growing at a strongest rate.
The North America region has generated revenue share of around 43% in 2021.
The Asia Pacific region is poised to grow at a CAGR of 6.9% between 2022 to 2030.

An endoscopy refers to a procedure that enables surgeons or physicians to look interior parts of the organ. This technique is applied for both therapeutic and diagnostic purposes. To perform endoscopy a particular instrument is used known as an endoscope. There are various types of endoscopes available in the market and the adoption of endoscope depends upon the type of the affected body organ, for example, arthroscopes are preferred for problems related to joints, bronchoscopes are used for lungs associated problems, and similarly many other endoscopes are available.

Other instruments essential during an endoscopic procedure include cytology brush, biopsy forceps, trocar sleeves, flexible forceps, etc. For therapeutic purpose, the endoscopic devices are either attached or transited across surgical instruments to perform a particular surgery. Endoscopic surgery is a type of marginally invasive surgery in which the device is inserted inside the human body through small incisions to properly examine the internal organs.

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Report Scope of the Endoscopy Devices Market

Report Highlights	Details
Market Size	USD 85 Billion by 2030
Growth Rate	CAGR of 7.05% from 2022 to 2030
Largest Market	North America
Fastest Growing Market	Asia Pacific
Base Year	2021
Forecast Period	2022 to 2030
Segments Covered	Product, Application, Hygiene, End User, Region

Growth Factors

Advancement in the endoscopy technology, increasing prevalence of chronic diseases, and increased funding as well as reimbursement for screening & treatment using endoscopic techniques significantly promote the market growth of the endoscopy devices. In addition, increasing popularity of minimally invasive surgery also creates huge scope for the growth of market.

As per the study conducted by the American Cancer Society, in the United States individuals with age more than 50 years depicted to contribute around 90% colorectal cancer (CRC) cases in the country; along with this, colonoscopy refers to be the most effective commonly adopted procedure for the screening and diagnosis of CRC in older population. Moreover, increasing geriatric population across the world has positively influenced the endoscopic devices market. Simultaneously, older adults are highly vulnerable for health problems such as gastrointestinal problems, ophthalmic diseases, cancer, orthopedic diseases, and many others because of lower immunity that in turn, complicate the therapeutic and diagnostic options.

World Health Organization (WHO) has estimated that the group of aged people in the world with more than 60 years will nearly double by the end of 2050. Specifically in the United States, more than 20% of the population estimated to come under the age group of 65 years or above by the year 2030.

Report Highlights

North America accounted for the largest revenue share owing to increase in preference for minimally invasive surgeries, and increase in geriatric population
The Asia Pacific anticipated as the most opportunistic region during the forecast period due to substantial economic growth and improving healthcare infrastructure
Endoscopy visualization systems captured the largest value share in the global market in 2019 attributed to the rising preference for High Definition (HD) visualization system by medical professionals
The endoscopes segment projected to exhibits lucrative growth over the analysis period. Flexible endoscopes dominated the segment with the highest value share in 2019.
Based on application, GI endoscopy occupied the largest revenue share accounting for more than half of the total market value due to rising prevalence of GI disease
Urology endoscopy (cystoscopy) projected to exhibit the fastest growth during the analysis period owing to increased number of ureteroscopic interventions performed
By end-use, hospitals segment encountered to be the largest end-user in the year 2019, as it is the primary health center in majority of countries
The ambulatory surgical centers expected to witness prominent growth over the analysis period because of cost-effective ASC-based endoscopic procedures

Regional Snapshots

In 2019, North America led the global endoscopy devices market and anticipated to maintain its dominance in the coming years. This is primarily accounted to the rising incidence of cancer, favorable reimbursement scenario in the U.S., increasing research activities to enhance endoscopy devices, increasing investments by hospitals for purchasing new endoscopic equipment, and the implementation of a new funding model for Canadian hospitals.

On the other hand, the Asia Pacific predicted to be the fastest growing region owing to significant number of developing nations present in this region, such as India and china. Furthermore, increasing patient population of gastrointestinal and cancer diseases in the developing countries expected to spur the demand for endoscopes in the region.

Key Players & Strategies

The global endoscopy devices market is highly competitive as the market payers are investing prominently on the research & development activity along with an intense focus towards new product launch, product enhancement & development. Olympus Corp. is one of the largest endoscopy device manufacturers that account for nearly 70% market share in the GI endoscopy application segment.

Various renowned participants in the endoscopy devices market include:

Ethicon Endo-Surgery, LLC
Olympus Corporation
Stryker Corporation
Boston Scientific Corporation
Fujifilm Holdings Corporation
Smith & Nephew Inc.
Karl Storz GmbH & Co. KG
Richard Wolf GmbH
PENTAX Medical
Medtronic Plc (Covidien)
Machida Endoscope Co., Ltd.

Segments Covered in the Report

This research study comprises complete assessment of the market by means of far-reaching qualitative and quantitative perceptions, and predictions regarding the market. This report delivers classification of marketplace into impending and niche sectors. Further, this research study calculates market size and its development drift at global, regional, and country from 2017 to 2030. This report contains market breakdown and its revenue estimation by classifying it on basis of product, application, end-use, and region:

By Product

Endoscopes
- Flexible Endoscopes
  - Colonoscopes
  - Upper Gastrointestinal Endoscopes
  - Sigmoidoscopes
  - Bronchoscopes
  - Pharyngoscopes
  - Laryngoscopes
  - Nasopharyngoscopes
  - Duodenoscopes
  - Rhinoscopes
  - Other Flexible Endoscopes
- Rigid Endoscopes
  - Arthroscopes
  - Laparoscopes
  - Cystoscopes
  - Urology Endoscopes
  - Neuroendoscopes
  - Gynecology Endoscopes
  - Other Rigid Endoscopes
- Disposable Endoscopes
- Capsule Endoscopes
- Robot Assisted Endoscope
Endoscopy Visualization Systems
- High Definition (HD) Visualization Systems
  - 3D Systems
  - 2D Systems
- Standard Definition (SD) Visualization Systems
  - 3D Systems
  - 2D Systems
- Ultrasound Devices
Endoscopy Visualization Components
- Insufflators
- Camera Heads
- High-definition Monitors
- Light Sources
- Video Processors
- Suction Pumps
Operative Devices
- Access Devices
- Energy Systems
- Hand Instruments
- Suction & Irrigation Systems
- Snares
- Wound Retractors