According to Vision Research Reports, the global Endoscopes market size is expected to be worth around US$ 20.4 billion by 2030.
According to Vision Research Reports, the global Endoscopes market size is expected to be worth around US$ 20.4 billion by 2030.
The global Endoscopes market size was valued at US$ 10.8 billion in 2020 and is anticipated to grow at a CAGR of 8.04% during forecast period 2021 to 2030.
Report Highlights
- The flexible product segment accounted for the highest revenue share of more than 46.52%of the global market in 2021.
- The Gastrointestinal (GI) endoscopy application segment dominated the market and accounted for a share of more than 51.55% of the global revenue in 2021.
- The hospital’s end-user segment dominated the market in 2021 with a revenue share of more than 48.2%.
- North America led the market in 2021 and accounted for the highest share of more than 41.53% of the global revenue.
- Asia Pacific is projected to be the fastest-growing regional market over the forecast period.
- By product, the U.S. endoscopes market was valued at USD 5.6 billion in 2021 and expected to witness growth at a CAGR of 8.6% from 2022 to 2030.
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Growth Factors
The growing awareness regarding the benefits of as compared to open invasive surgeries and the rising prevalence of chronic diseases, such as cancer, heart diseases, and diabetes, are some of the factors driving the market. In addition, technological advancements with respect to endoscopes and the increasing applications in various diagnosis and treatment processes are among the key trends boosting the demand for endoscopes globally.
Based on product, flexible endoscopes dominated the market with a share of 49.9% in 2020. This is attributed to the growing preference for such devices among medical professionals, technological advancements, increased efficiency and safety, and ergonomic features of the flexible endoscopes. In addition, these devices are used in numerous procedures, such as upper gastrointestinal endoscopy, colonoscopy, bronchoscopy, sigmoidoscopy, laryngoscopy, pharyngoscopy, duodenoscopy, nasopharyngoscopy, and rhinoscopy, which increase their adoption, thereby fueling the segment growth.
In 2020, based on application, gastrointestinal (GI) endoscopy accounted for the largest revenue share owing to the growing geriatric population and the rising burden of gastrointestinal diseases. In addition, the increase in the number of gastroscopies, the rise in adoption of endoscopes for diagnosis as well as treatment of GI diseases, and the availability of advanced products for gastroscopy are some of the factors driving the segment. In addition, the urology endoscopy segment is expected to expand at the highest CAGR over the forecast period. The growing number of urology surgeries and the increasing prevalence of urologic cancers are among the key factors expected to drive the demand for urology endoscopies.
North America dominated the market with a revenue share of 42.5% in 2020 owing to the improved healthcare infrastructure, the rising adoption of advanced technologies, and the growing preference for minimally invasive surgeries to curb healthcare spending. In addition, the growing burden of gastrointestinal disorders and cancer in the region is one of the significant factors propelling the market growth. For instance, according to the estimates of the National Cancer Institute, around 1,806,590 new cases were estimated to be diagnosed in the U.S. in 2020.
Report Coverage
| Report Scope | Details |
| Market Size | US$ 20.4 billion by 2030 |
| Growth Rate | CAGR of 8.04% From 2022 to 2030 |
| Largest Market | Europe |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segments Covered | Product, Application, End-use |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Olympus Corp.; Ethicon US, LLC; Fujifilm Holdings Corp.; Boston Scientific Corp.; Karl Storz GmbH & Co., KG; Stryker; PENTAX Medical; Conmed Corp.; Richard Wolf Medical Instruments; Medtronic |
Product Insights
The flexible product segment accounted for the highest revenue share of more than 46.52%of the global market in 2021. It is attributed to its increasing preference by healthcare professionals for the first-line therapeutic option as it can be performed under sedation. The cost-effectiveness, safety, and high-efficiency properties of flexible endoscopes also boost their adoption. In addition, flexible endoscopes are used in several surgical applications, such as gastrointestinal endoscopy, laparoscopy, arthroscopy, urology endoscopy, obstetrics/gynecological endoscopy, bronchoscopy, otoscopy, mediastinoscopy, and laryngoscopy. This increases their adoption and thereby fueling the segment growth.
On the basis of product, the global market has been segmented into rigid, flexible, capsule, disposable, and robot-assisted endoscopes. The disposable endoscopes segment is anticipated to register the fastest growth rate during the forecast period. This growth can be attributed to the increasing preference for these devices over conventional endoscopes to reduce the risk of cross-contamination. In addition, the adoption of disposable devices was higher during the COVID-19 pandemic as these devices reduce the risk of nosocomial disease spread.
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Application Insights
The Gastrointestinal (GI) endoscopy application segment dominated the market and accounted for a share of more than 51.55% of the global revenue in 2021. The high share can be attributed to the increased burden of functional gastrointestinal diseases and the rising geriatric population across the globe. In addition, an increase in the number of upper gastrointestinal procedures performed and the growth in the adoption of endoscopes for the treatment and diagnosis of gastrointestinal diseases are also among the key factors driving the segment growth.
On the basis of applications, the global market has been divided into Gastrointestinal (GI) endoscopy, laparoscopy, obstetrics/gynecology endoscopy, arthroscopy, urology endoscopy (cystoscopy), bronchoscopy, mediastinoscopy, otoscopy, laryngoscopy, and other applications. The urology endoscopy application segment is estimated to register the fastest growth rate over the forecast period. This growth can be credited to the increasing prevalence of urologic cancers and the growing volume of urology surgeries. In addition, the growing preference for endoscopic devices for the diagnosis and treatment of urologic disorders is also propelling the segment growth.
End-use Insights
The hospital’s end-user segment dominated the market in 2021 with a revenue share of more than 48.2%. It is attributed to the increasing product preference among patients for chronic disease treatment. In addition, favorable infrastructure and reimbursement policies also support the segment growth. Moreover, a large number of surgeries are performed in hospitals and it is considered the primary health care system in the majority of the countries. As compared to other healthcare systems, the maximum number of surgeries are performed in the hospitals, which, in turn, boosts the segment growth.
The Ambulatory Surgical Centers (ASCs)/clinics segment is anticipated to grow at the fastest CAGR during the forecast years. Increasing adoption of endoscopes in the ASCs/clinics for the early diagnosis and detection of several life-threatening diseases is supporting the segment growth. In addition, the introduction of keyhole endoscopic surgeries with minimal discomfort and faster recovery time also boosts the segment growth. Moreover, due to shorter stays, lower cost of procedures is further anticipated to augment the segment growth over the forecast years.
Regional Insights
North America led the market in 2021 and accounted for the highest share of more than 41.53% of the global revenue. The regional market is estimated to retain the dominant position throughout the forecast period owing to the increasing adoption of elective endoscopic procedures, improved healthcare expenditure, and the high geriatric population. In addition, the high burden of cancer and functional gastrointestinal disorders in the U.S. is anticipated to further drive the market over the forecast period. For instance, according to the American Cancer Society, about 1.9 million new cancer cases are estimated to be diagnosed in 2021 in the U.S.
On the other hand, Asia Pacific is projected to be the fastest-growing regional market over the forecast period. This growth is owing to the presence of a large patient population pool suffering from functional gastrointestinal disorders. Some of the other factors contributing to the growth of the APAC regional market include the growing geriatric population and improving healthcare infrastructure. In addition, rapid economic development and increasing government healthcare investments are projected to attract foreign investments in this region. Moreover, the presence of key players in APAC is also fueling the adoption of endoscopes, which, in turn, supports the regional market growth.
Key Players
- Olympus Corporation
- PENTAX Medical
- Ethicon US, LLC
- FUJIFILM Holdings Corporation
- Stryker
- Boston Scientific Corporation
- CONMED Corporation
- Karl Storz GmbH & Co., KG
- Richard Wolf Medical Instruments
- Medtronic
Market Segmentation
- Product Outlook
- Rigid Endoscopes
- Laparoscopes
- Arthroscopes
- Urology Endoscopes
- Cystoscopes
- Gynecology Endoscopes
- Neuroendoscopes
- Other Rigid Endoscopes
- Flexible Endoscopes
- Upper Gastrointestinal Endoscopes
- Colonoscopes
- Bronchoscopes
- Sigmoidoscopes
- Laryngoscopes
- Pharyngoscopes
- Duodenoscopes
- Nasopharyngoscopes
- Rhinoscopes
- Other Flexible Endoscopes
- Capsule Endoscopes
- Disposable Endoscopes
- Robot Assisted Endoscopes
- Rigid Endoscopes
- Application Outlook
- Gastrointestinal (GI) Endoscopy
- Laparoscopy
- Obstetrics/Gynecology Endoscopy
- Arthroscopy
- Urology Endoscopy (Cystoscopy)
- Bronchoscopy
- Mediastinoscopy
- Otoscopy
- Laryngoscopy
- Other Applications
- End-use Outlook
- Hospitals
- Ambulatory Surgery Centers/Clinics
- Other End Uses
- Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
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