Global Endoscopy

Global Endoscopy Market Research Report: Forecast (2023-2028)

By Product (Endoscopes (Rigid, Flexible, Capsule, Robot-Assisted), Visualization System, Accessories, Others), By Application (Gastrointestinal (GI) Endoscopy, Laparoscopy, Obstetrics/ Gynecology, End Read more

  • Healthcare
  • Nov 2022
  • 188
  • HC22099

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.

Market Segmentation:

Based on Product:

  • Endoscopes
    • Rigid
    • Flexible
    • Capsule
    • Robot-Assisted
  • Visualization System
  • Accessories
  • Others

Of them all, flexible endoscopes dominate the Global Endoscopy Market. Flexible endoscopy (FE) is preferred as the first-line therapeutic option since it can be performed under sedation & LA (Local Anesthesia) and is cost-effective as it doesn't involve hospitalization.

Moreover, due to benefits like the ability to reach viscera & cavities, better safety & efficiency, as well as improved ergonomic features, flexible endoscopes are the most commonly used devices in several procedures, like GI endoscopy, Laparoscopy, Urology Endoscopy, OGD (Esophagogast Roduodenoscopy), Bronchoscopy, Sigmoidoscopy, Laryngoscopy, Pharyngoscopy, Nasopharyngoscopy, Rhinoscopy, & Colonoscopy, among others.

As a result of these benefits, the demand for flexible endoscopes is rising at a rapid pace for the early detection & diagnosis of chronic diseases, the prevalence of which is mounting globally and, in turn, generating lucrative prospects for the overall growth of the endoscopy market in the coming years.

Based on Application:

  • Gastrointestinal (GI) Endoscopy
  • Laparoscopy
  • Obstetrics/ Gynecology Endoscopy
  • Arthroscopy
  • Urology Endoscopy (Cystoscopy)
  • Bronchoscopy
  • Others (ENT Endoscopy, Neuro Endoscopy, etc.)

Here, Gastrointestinal (GI) Endoscopy is projected to dominate the market globally in the forecast years. It owes to the mounting prevalence of functional GI diseases and the growing geriatric population worldwide. In addition, the increasing number of upper GI procedures and the surging adoption of endoscopes as a first-line GI treatment for early detection & diagnosis are also driving the market. Moreover, snowballing cases of CRC (Colorectal Cancer) and GI diseases like dyspepsia, irritable bowel syndrome, & constipation in young adults & the geriatric population, shall further stimulate the endoscopy market globally over the coming years.

GI tumors are the second-largest cause of cancer-related deaths worldwide, for which endoscopy has proved to be the standard diagnosis. As a result, the world is witnessing an increasing number of endoscopic procedures for the early diagnosis of GI tumors, the majority of which start in the rectum, colon, & esophagus. Hence, benefits like lower risk of SSI (Surgical Site Infection), technical advancements in endoscopes, and the availability of low-cost surgeries would create profitable prospects for the global endoscopy market for GI disorders.

Regional Landscape

  • North America
  • South America
  • Asia-Pacific
  • Europe
  • Middle East & Africa

Of all regions, North America holds the largest share in the Endoscopy Market globally, and the same trend is likely during 2023-28. It owes to the ever-growing burden of chronic diseases like cancer & GI disorders, mounting adoption of elective endoscopic procedures, rapidly increasing elderly population levels, and state-of-the-art healthcare facilities backed by massive expenditure by both governments & public/private sectors. Moreover, the growing prevalence of MIS (Minimally Invasive Surgeries), surging demand for flexible endoscopes, and the low regression rate associated with endoscopic procedures are also driving the regional market.

Across the region, the US is the leading endoscopy market owing to a very high CRC incidence and, subsequently, the rising need for its effective diagnosis & treatment. The leading players in the industry are rigorously engaged in R&D activities toward introducing new & innovative products to enhance the efficacy & accuracy of endoscopes. Moreover, they are also carrying out mergers & acquisitions along with strategic partnerships in order to bolster their product portfolio and expand their geographic reach.

Additionally, favorable reimbursement policies for endoscopic procedures, the ever-increased prevalence of chronic diseases across the region, numerous ongoing research activities toward improving endoscopy techniques, and substantial investments by healthcare facilities in procuring advanced endoscopes are set to create new avenues for the North America Endoscopy Market to expand significantly in the coming years.

Market Dynamics

Key Driver: Increasing Need for the Early Detection & Diagnosis of Chronic Disorders

The world is witnessing a significantly growing number of minimally invasive surgeries, which owes to the increasing awareness among patients suffering from orthopedic disorders, neurological disorders, GERD, & cancer, among others. Several patients are showing greater interest in MIS procedures due to their benefits like less postoperative pain, quick recovery, & shorter hospital stays, which make these surgeries much more effective, cost-efficient, as well as safer than conventional open surgeries. Hence, there's a rapidly increasing demand for endoscopes worldwide to early diagnose and treat the massive patient pool of chronic disorders, as mentioned above, which, in turn, would drive the Global Endoscopy Market during 2023-28.

Growth Restraint: Lack of Skilled Healthcare Professionals to Perform Endoscopic Procedures

In several countries across Asia-Pacific, Latin America, & Europe (excluding the UK), there's a substantial shortage of medical professionals who can effectively perform endoscopic procedures and prevent the spread of infections. Moreover, inadequate reimbursement policies in developing countries refrain patients from opting for endoscopic procedures and, in turn, negatively impact the demand for endoscopes. Hence, these aspects are projected to act as major growth restraints for the Global Endoscopy Market during 2023-28.

Key Questions Answered in the Market Research Report:

  1. What are the overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares) of the Global Endoscopy Market?
  2. What are the region-wise size, growth drivers, and challenges for the Global Endoscopy Market?
  3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Endoscopy Market?
  4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Global Endoscopy Market based on the competitive benchmarking matrix?
  5. What are the key results derived from surveys conducted during the Global Endoscopy Market study?

Frequently Asked Questions

A. The Endoscopy Market is expected to record around 6.8% CAGR during 2023-28.

A. The increasing number of MIS procedures worldwide for the early detection of chronic conditions like cancer, GERD, & neurological disorders, among others, is the prime aspect projected to drive the Endoscopy Market during 2023-28. On the other hand, the lack of skilled health professionals, especially in developing countries, who can conduct effective endoscopic procedures, will act as the major growth restraint for the market over the forecast years.

A. Flexible Endoscopes would continue creating lucrative prospects for the Endoscopy Market during 2023-28.

A. North America is expected to generate remunerative opportunities for the key companies in the Global Endoscopy Market in the years ahead.

  1. Introduction
    1. Research Process
    2. Assumption
    3. Market Segmentation
    4. Market Definition
  2. Executive Summary
  3. Global Endoscopy Market Trends & Insights
  4. Global Endoscopy Market Regulation & Policy, By Country
  5. Global Endoscopy Market Dynamics
    1. Growth Drivers
    2. Challenges
    3. Impact Analysis
  6. Global Endoscopy Market Hotspot and Opportunities
  7. Global Endoscopy Market Outlook, 2018- 2028
    1. Market Size and Analysis
      1. By Revenues in USD Million
    2. Market Share and Analysis
      1. By Product
        1. Endoscopes
          1. Rigid
          2. Flexible
          3. Capsule
          4. Robot-Assisted
        2. Visualization System
        3. Accessories
        4. Others
      2. By Application
        1. Gastrointestinal (GI) Endoscopy
        2. Laparoscopy
        3. Obstetrics/ Gynecology Endoscopy
        4. Arthroscopy
        5. Urology Endoscopy (Cystoscopy)
        6. Bronchoscopy
        7. Others (ENT Endoscopy, Neuro Endoscopy, etc.)
      3. By End-User
        1. Hospitals
        2. Ambulatory Care Centers
        3. Specialty Clinics
      4. By Region
        1. North America
        2. South America
        3. Europe
        4. Middle East & Africa
        5. Asia-Pacific
      5. By Company
        1. Competition Characteristics
        2. Revenue Shares
        3. Competitor Placement in MarkNtel Advisor’s Quadrant
  8. North America Endoscopy Market Outlook, 2018- 2028
    1. Market Size and Analysis
      1. By Revenues in USD Million
    2. Market Share and Analysis
      1. By Product
      2. By Application
      3. By End-User
      4. By Country
        1. The US
        2. Canada
        3. Mexico
  9. South America Endoscopy Market Outlook, 2018- 2028
    1. Market Size and Analysis
      1. By Revenues in USD Million
    2. Market Share and Analysis
      1. By Product
      2. By Application
      3. By End-User
      4. By Country
        1. Brazil
        2. Argentina
        3. Rest of South America
  10. Europe Endoscopy Market Outlook, 2018- 2028
    1. Market Size and Analysis
      1. By Revenues in USD Million
    2. Market Share and Analysis
      1. By Product
      2. By Application
      3. By End-User
      4. By Country
        1. The UK
        2. Germany
        3. France
        4. Italy
        5. Spain
        6. Rest of Europe
  11. Middle East & Africa Endoscopy Market Outlook, 2018- 2028
    1. Market Size and Analysis
      1. By Revenues in USD Million
    2. Market Share and Analysis
      1. By Product
      2. By Application
      3. By End-User
      4. By Country
        1. The UAE
        2. Saudi Arabia
        3. South Africa
        4. Rest of Middle East & Africa
  12. Asia-Pacific Endoscopy Market Outlook, 2018- 2028
    1. Market Size and Analysis
      1. By Revenues in USD Million
    2. Market Share and Analysis
      1. By Product
      2. By Application
      3. By End-User
      4. By Country
        1. China
        2. Japan
        3. India
        4. South Korea
        5. Australia
        6. Singapore
        7. Rest of Asia-Pacific
  13. Global Endoscopy Market Key Strategic Imperatives for Success and Growth
  14. Competitive Outlook
    1. Competition Matrix
      1. By Application Portfolio
      2. Brand Specialization
      3. Target Markets
      4. Target By Applications
      5. Research & Development
      6. Strategic Alliances
      7. Strategic Initiatives
    2. Company Profiles (Business Description, By Application Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. Arthrex Inc.
      2. B Braun Melsungen
      3. Boston Scientific Corporation
      4. CONMED Corporation
      5. Ethicon Endo-Surgery, LLC (Johnson & Johnson)
      6. FUJIFILM Holdings Corporation
      7. Intuitive Surgical, Inc.
      8. Karl Storz SE & Co. KG
      9. Machida Endoscope Co., Ltd.
      10. Medtronic Plc (Covidien)
      11. Olympus Corporation
      12. PENTAX Medical (HOYA)
      13. Richard Wolf GmbH
      14. Smith & Nephew Plc
      15. Stryker Corporation
  15. Disclaimer
Endoscopy Market - Segmentation Slide