The global endoscopy equipment market size was significantly robust in 2022 and is expected to register a steady revenue CAGR over the forecast period. Market revenue growth is driven by factors such as increasing preference for minimally invasive endoscopic operations and steady rise in global elderly population. In addition, rise in healthcare expenditure and technological developments are other factors that support market growth.
Endoscopic procedures are non-surgical or minimally invasive treatments that involve the use of endoscopy devices and supplies to inspect a patient’s internal organ or tissue in great detail. Many tools and equipment are used during endoscopy to ensure a safe and successful procedure, including procedure-specific scopes, video monitors, imaging devices, anesthetic equipment, monitoring equipment, light sources, video processors, insufflators, endoscope cabinets, and an endoscopy cart or trolley. Gastroenterologists, gynecologists, nephrologists, neurologist, cardiologist, hepatologist, and liver transplant surgeons are the most common users of endoscopy equipment.
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Major Factors Driving Growth Of The Global Endoscopy Equipment Market:
Due to various technical improvements in endoscopes that may be utilized for early detection of diseases and rise in prevalence rate of diseases that require endoscopy devices, the global endoscopy equipment market is expected to grow significantly over the forecast period. Furthermore, favorable FDA approvals and reimbursement policies for endoscopy devices in developed economies, increasing patient preference for minimally invasive surgeries, and shorter recovery times as well as minimal postoperative complications contribute to market growth.
Factors Restraining Growth Of The Global Endoscopy Equipment Market:
The global endoscopy equipment market growth is substantially hampered by several unfavorable factors. One of the primary reasons expected to hamper growth of the market is increasing cases of infections and problems produced by endoscopy devices. Furthermore, endoscopy physicians and surgeons are in scarce quantity all around the world. Endoscopic procedures must be performed by trained specialists to minimize spread of infections in endoscopy facilities. The global lack of competent endoscopy physicians and nurses is expected to have a detrimental influence on number of endoscopic procedures performed each year.
Opportunities For Players Operating In The Global Endoscopy Equipment Market:
Rising cancer burden, quick improvements in healthcare infrastructure, rapid rise of medical tourism, and presence of flexible legislation are some factors encouraging endoscopy equipment manufacturers to expand their operations. Furthermore, endoscopic equipment producers will be compelled to focus on new countries in the coming years due to market saturation in developed regions around the world.
Global Endoscopy Equipment Market Revenue Led By Product Type Segment:
During the forecast period, the endoscopes segment is expected to account for a steady revenue share. High acceptance rate of this equipment by end-use verticals, growing desire of patients and doctors for minimally invasive procedures, and ongoing improvements in endoscopic technologies are factors expected to drive growth of this segment.
Global Endoscopy Equipment Market Leading End-Use Segment:
Due to rising adoption of endoscopy equipment in hospitals, increasing government and private funding in the healthcare sector, and greater availability of skilled healthcare professionals as well as technologically advanced facilities, the hospitals segment is expected to dominate the endoscopy equipment market during the forecast period.
North America Accounts For Largest Revenue Share In Global Endoscopy Equipment Market:
Among regional markets, North America endoscopy equipment market is expected to account for largest revenue share over the forecast period. The United States favorable reimbursement policies for endoscopic procedures, increasing awareness of cancer, rising hospital investments in new endoscopic equipment, a strong focus on research activities to improve endoscopy techniques, and implementation of a new funding model by Canadian hospitals are all factors that contribute to growth of the market.
Asia Pacific Continues To Lead In Terms Of Revenue CAGR:
The Asia Pacific endoscopy equipment market is expected to register the fastest growth in CAGR over the forecast period. This is attributed to presence of a large population, increasing prevalence of chronic diseases, and improved healthcare facilities. The region’s well-established healthcare infrastructure, increasing adoption of modern technologies, rise in elderly population, and prevalence of gastrointestinal and abdominal disorders are other factors contributing towards the growth of market in the region.
Major Companies Profiled In The Report:
- HOYA Corporation
- Olympus Corporation
- Stryker Corporation
- Boston Scientific Corporation
- Fujifilm Holdings Corporation
- CONMED Corporation
- Medtronic Plc
- Karl Storz GmbH & Co. KG
- Smith & Nephew, Plc
- Johnson & Johnson
- Medrobotics Corporation
Strategies And Objectives Of Major Companies:
The market is highly competitive and major competitors have used a variety of techniques to boost endoscopic device market share. Product introduction, product development, product approval, and acquisition are examples of ways to expand regional presence.
- The Habib EndoHPB probe, a revolutionary endoscopy bipolar radiofrequency device that coagulates tissue in gastrointestinal tract, was bought by Boston Scientific Corporation in 2023 to broaden its endoscopy equipment range.
- In 2020, Olympus Corporation introduced EVIS X1 endoscopic system with the goal of improving illness outcomes and aiding screening and diagnosis by introducing new technologies.
What Our Report Provides And Why Our Offering Is Better:
This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2023 to 2032. The global market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financials, and impact analysis. The report includes a detailed view of the global market, along with changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues.
Detailed Segmentation In Our Report:
For the purpose of this report, the global endoscopy equipment market is segmented on the basis of product type, hygiene, application, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2023-2032)
- Mechanical Endoscopic Equipment
- Visualization & Documentation Systems
Hygiene Outlook (Revenue, USD Billion; 2023-2032)
Application Outlook (Revenue, USD Billion; 2023-2032)
- Urology Endoscopy
- Gastrointestinal Endoscopy
- Gynecology Endoscopy
- ENT Endoscopy
End-use Outlook (Revenue, USD Billion; 2023-2032)
- Ambulatory Surgery Centers & Clinics
Region Outlook (Revenue, USD Billion; 2023-2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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