Market Definition
Endoscopy is a nonsurgical procedure conducted to examine an individual's digestive tract or any other internal tissues or organs using an endoscope, i.e., a flexible tube with a camera & light attached. This procedure is performed typically by gastroenterologists for the early diagnosis & treatment of chronic health conditions, such as GERD (Gastroesophageal Reflux Disease), stomach ulcers, celiac disease, GI (Gastrointestinal) disorders, or any other problem related to the digestive tract of an individual.
Market Insights
The Global Endoscopy Market is projected to grow at a CAGR of around 6.8% during the forecast period, i.e., 2023-28. Most of the market expansion would be driven by the rapidly increasing cases of chronic disorders and the growing awareness among patients about the availability of early detection & diagnosis of such diseases through MIS (Minimally Invasive Surgical) procedures. Besides, fast FDA approvals for endoscopes, ever-increasing expenditure on healthcare infrastructure enhancement, and improving disposable income of people to afford endoscopic procedures are other crucial aspects projected to drive the industry in the forecast period.
MIS procedures involve minimal cuts/stitches, less post-operative pain, quick recoveries, and shorter hospital stays. As a result, more & more people are showing greater interest in these procedures rather than opting for conventional open surgeries that involve long incisions, which, in turn, is augmenting the demand for endoscopes globally.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2018-21 |
| Base Year: 2022 | |
| Forecast Period: 2023-28 | |
| CAGR (2023-2028) | 6.8% |
| Regions Covered | North America: USA, Canada, Mexico |
| South America: Brazil, Argentina, Rest of South America | |
| Europe: The UK, Germany, France, Spain, Italy, Rest of Europe | |
| Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific | |
| Middle East & Africa: Saudi Arabia, UAE, South Africa, Australia, Singapore, Rest of Middle East & Africa | |
| Key Companies Profiled | Arthrex Inc., B Braun Melsungen, Boston Scientific Corporation, CONMED Corporation, Ethicon Endo-Surgery, LLC (Johnson & Johnson), FUJIFILM Holdings Corporation, Intuitive Surgical, Inc., Karl Storz SE & Co. KG, Machida Endoscope Co., Ltd., Medtronic Plc (Covidien), Olympus Corporation, PENTAX Medical (HOYA), Richard Wolf GmbH, Smith & Nephew Plc, and Stryker Corporation |
| Unit Denominations | USD Million/Billion |
Moreover, the increasing number of people with Gastrointestinal (GI) diseases & obesity is another contributor to the expansion of the endoscopy industry. Functional GI disorders like Irritable Bowel Syndrome (IBS), functional constipation, or functional dyspepsia can affect any part of the GI tract, such as the esophagus, stomach, & intestines.
On the other hand, unhealthy lifestyles & poor dietary habits are stimulating the incidence of obesity and, subsequently, GI disorders like Esophageal Adenocarcinoma, Erosive Esophagitis, (GERD) Gastroesophageal Reflux Disease, and Colorectal Polyps, among others. Hence, with the increasing prevalence of such diseases, different endoscopes are being increasingly adopted by hospitals & other healthcare facilities globally.
Furthermore, the mounting demand for capsule endoscopy, transitions from reusable to disposable endoscopes, and technological advancements in robot-assisted endoscopes & AI-based devices are other prominent factors indicating profitable prospects for the global endoscopy market in the coming years.
