The global endoscopes market size is expected to reach over US$ 21.31 billion by 2028 from valued at US$ 11.99 billion in 2021 with a CAGR of 8.62% over 2021 to 2030.
The global endoscopes market size is expected to reach over US$ 21.31 billion by 2028 from valued at US$ 11.99 billion in 2021 with a CAGR of 8.62% over 2021 to 2030.
Growth Factors
The global endoscopes market is significantly driven by the growing prevalence of various diseases and the surging demand for the minimally invasive surgeries among the global population. The formulation of favorable reimbursement policies pertaining to the surgeries, rising investments in the development of innovative endoscopes, and the active participation of the regulatory authorities like EMA and FDA in the product approvals of various endoscope manufacturers are significantly contributing towards the growth of the global endoscopes market.
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The endoscopes are extensively used in the procedures related to the treatment of the gastrointestinal diseases. The rising prevalence of various gastrointestinal diseases such as irritable bowel syndrome (IBS), functional dyspepsia, and functional constipation is spurring the demand for the endoscopes across the globe. Furthermore, the rising prevalence of obesity, which is a major contributor to the increasing cases of gastrointestinal diseases, is resulting in the burgeoning demand for the endoscopic procedures.
Report Highlights:
- Based on the product, the flexible product segment dominated the global endoscopes market in 2020. The extensive demand for the flexible endoscopes among the health professionals has fostered the growth of this segment. Moreover, it offers increased flexibility, low cost, and high safety during the procedures, which has fueled its growth. The extensive usage of the flexible endoscopes in various applications such as urology endoscopy, laparoscopy, gynecology endoscopy, gastrointestinal endoscopy, and arthroscopy has fueled the growth of the flexible product segment.
- Based on the application, the urology endoscopy is expected to be the most opportunistic segment during the forecast period. The surging prevalence of urologic cancers and the surging volume of urology surgical procedures across the globe is expected to drive the growth of the segment.
- Based on the end use, the hospitals was the leading segment in the global endoscopes market in 2020. The increased product acceptance among the consumers and the increasing awareness regarding the benefits of endoscopic treatment is fueling the market growth. The huge volume of surgeries are performed in hospitals and the increased penetration of the hospitals coupled with the presence of advanced surgical equipment in hospitals has fostered the growth of the hospitals end use segment.
- North America was the leading endoscopes market in 2020. The higher adoption rate of advanced technologies in the healthcare sector, the increased healthcare expenditure, increased consumer awareness regarding the minimally invasive procedures, and the favorable reimbursement policies are the major factors that has driven the growth of the North America endoscopes market. The increased prevalence of cancer and gastrointestinal disorders in US has augmented the demand for the endoscopy procedures in US, thereby boosting the growth of the market.
- Asia Pacific is estimated to be the fastest-growing market during the forecast period. Asia Pacific is currently witnessing increasing demand for the advanced technologies in the healthcare sector, growing healthcare expenditure, rapidly growing geriatric population, and increasing popularity of the minimally-invasive procedures. The rising geriatric population coupled with the increasing prevalence of functional gastrointestinal disorders among the population is expected to drive the growth of the Asia Pacific endoscopes market.
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Future of the Endoscopes Market
The booming healthcare sector in the emerging market like India, China, Brazil, and South Africa are expected to present immense growth aspects to the market players in the forthcoming future. The countries like China and India are home to the highest volume of patients. Technological advancements, increasing adoption of healthcare insurances, and surging investments in the development of healthcare infrastructure are the prominent factors that are estimated to have a positive and significant impact on the market growth.
COVID-19 Impact Analysis:
- The hospitals across the globe were overburdened by the admission of the COVID-19 patients that resulted in the cancellation of elective surgeries. Around 50% of the endoscopy surgeries were cancelled in a huge market like Germany in 2020.
- Shortage of the healthcare professionals during the pandemic was another major issue that resulted in the low volume of endoscopy procedures which further impacted the market growth in a negative way.
- Supply chain disruptions and increased focus towards the treatment of COVID-19 patients had resulted in th decline in the production of the endoscopes.
Key Developments in the Marketplace:
- In January 2021, Olympus Corporation completed the acquisition of Quest Photonic Devices to strengthen its position in the endoscopes market.
- In 2021, EndoFresh acquired the 510(k) clearance from the US FDA for its disposable endoscopy system that helped to reduce the contamination during gastrointestinal procedures.
Market Segmentation
By Product
- Flexible Endoscopes
- Bronchoscopes
- Laryngoscopes
- Sigmoidoscopes
- Upper Gastrointestinal Endoscopes
- Duodenoscopes
- Colonoscopes
- Pharyngoscopes
- Nasopharyngoscopes
- Other
- Capsule Endoscopes
- Robot Assisted Endoscopes
- Rigid Endoscopes
- Urology Endoscopes
- Laparoscopes
- Arthroscopes
- Cystoscopes
- Neuroendoscopes
- Other
- Disposable Endoscopes
By Application
- Arthroscopy
- Urology Endoscopy
- Laparoscopy
- Gastrointestinal (GI) Endoscopy
- Bronchoscopy
- Mediastinoscopy
- Gynecology Endoscopy
- Otoscopy
- Laryngoscopy
- Other Applications
By End-Use
- Ambulatory Surgery Centers
- Hospitals
- Other
By Regional Outlook
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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