Endoscopy is a minimal invasive medical procedure used for diagnosis, prevention, and treatment of complications in the visceral organs. The device is either placed in the body through the natural openings or cavities (such as anus and mouth) or through incisions, especially in the case of arthroscopy. Endoscopy devices are equipped with several other parts such as camera or light source at the tip of endoscopes that help the physicians or medical professionals (endoscopists) to analyze the internal organs of interest.
Endoscopy is used to evaluate various conditions such as stomach pain, ulcers, gastritis, digestive tract bleeding, cancerous growth in colon, and changes in bowel habits. Moreover, endoscopy is categorized based on the area of the body that are investigated such as knee & joints (arthroscopy), lungs (bronchoscopy), colon (colonoscopy), abdominal & pelvic areas (laparoscopy), and others. Increase in the incident rate of targeted diseases such as colon cancer and gastrointestinal disorders propel the demand for endoscopic devices.
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The file offers market sizing and forecast throughout 5 primary currencies – USD, EUR GBP, JPY, and AUD. It helps corporation leaders make higher choices when foreign money change records are available with ease. In this report, the years 2020 and 2021 are regarded as historic years, 2020 as the base year, 2021 as the estimated year, and years from 2022 to 2030 are viewed as the forecast period.
The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.
This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
Geriatric population is at a higher risk of diseases such as orthopedic diseases, gastrointestinal conditions, ophthalmic diseases, GI cancer, and others. The demand for endoscopy devices is anticipated to grow correspondingly with the growth in the number of aforementioned cases. In addition, availability of favorable reimbursement policies and FDA approvals in developed regions coupled with the growth in preference for minimally invasive procedures supplement the market growth.
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Moreover, the emerging endoscopy technologies such as capsule endoscopes and robot-assisted endoscopes with lower complications, minimal scarring, reduced hospital stay, and rapid recovery propel the demand for technologically advanced endoscopy devices. However, dearth of skilled endoscopic technicians, risk of infection associated with endoscopy, and high price of endoscopy devices restrain the growth of this market. The global endoscopy devices market is projected reach $40,854 million by 2022 from $27,273 million in 2015, growing at a CAGR of 5.7% from 2016 to 2022.
The global endoscopy devices market is segmented on the basis of product, application, end user, and geography. Based on product, the global market is categorized into endoscopes, visualization & documentation systems, mechanical endoscopy equipment, accessories, and other endoscopy equipment. The endoscope segment is further classified into endoscopy devices, capsule endoscopy, and robot-assisted endoscopy. The flexible endoscopes holds the largest market share owing to the technological advancements, a wide array of applications, and fastest recovery time. This segment is thereby expected to generate a revenue of $9,340 million by 2022.
The capsule endoscopy is anticipated to show highest growth rate in the endoscope type segment, expanding at a CAGR of 8.7%. Aforementioned product devices are further subcategorized in various segments. Based on application, the endoscopy devices market is classified into bronchoscopy, arthroscopy, laparoscopy, urology endoscopy, neuroendoscopy, gastrointestinal endoscopy, obstetrics/gynecology endoscopy, ENT endoscopy, and others. Among these, the laparoscopy application is the highest revenue contributor, while gastrointestinal endoscopy section is anticipated to grow at a fastest rate. Laparoscopic interventions are deemed to benefit the global endoscopy devices market, as most laparoscopy procedures are executed through minimally invasive surgical interventions that are preferred by the patient and the physicians. Moreover, the surge the need for laparoscopic surgeries for weight reduction (bariatric surgeries) in obesity and a larger geriatric population are projected to further boost the demand for laparoscopy devices.
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On the basis of end user, the endoscopy devices market is segmented into hospitals, clinics, and others. Geographically, the market is segmented across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest market share in the endoscopy devices market, and is expected to retain its dominance. Well-equipped & better financed hospitals & clinics, high adoption rate for technologically advanced products, and sophisticated healthcare infrastructure are the factors that fuel the market growth in this region. Moreover, U.S. is the target area for the top players in the market, owing to preventive measures taken by the population base and high prevalence rate of diseases such as cancer and GI diseases.
However, Asia-Pacific is expected to emerge as a lucrative area with maximum growth potential, owing to the improvement in healthcare facilities, available disposable income, and rapidly developing economic conditions. However, dearth of skilled & trained endoscopists and high cost of the technologically advanced endoscopy devices hampered the market penetration in developing and underdeveloped economies. Product development and expansion are the key strategies adopted in the endoscopy devices market. The report provides a comprehensive analysis of the key players that operate in the global endoscopy devices market.
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
The study provides an in-depth analysis of the global endoscopy devices market with current trends and future estimations to elucidate the imminent investment pockets in the market. The report provides a quantitative analysis from 2014 to 2022 to enable the stakeholders to capitalize on prevailing market opportunities. Extensive analysis of the global endoscopy devices market, by product, helps to understand the various types of devices used for endoscopy. Competitive intelligence highlights the business practices followed by leading market players across various geographic regions. SWOT analysis enables to study the internal environment of the leading companies for strategy formulation.
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The global endoscopy devices market is segmented based on product, application, end user, and geography.
Endoscopes Endoscopy devices By flexibility Flexible endoscopes Rigid endoscopes By type Cystoscopes Neuroendoscopes Urology endoscopes Arthroscopes Laparoscopes OB/GN endoscopes Otoscopes Laryngoscopes Nasopharyngoscopes Rhinoscopes Gastroscopes Colonoscopes Bronchoscopes Duodenoscopes Sigmoidoscopes Other endoscopes Capsule endoscopy Robot-assisted endoscopy Visualization & documentation systems Light sources Camera heads Wireless display & monitors Endoscopy cameras Carts Digital documentation systems Video processors & video convertors Transmitters & receivers Others (printers, digital capture systems, recorders, couplers & splitters, and others) Mechanical endoscopy equipment Endoscopic implants Trocars Graspers Snares Biopsy forceps Accessories Biopsy valves Overtubes Mouth pieces Surgical dissectors Needle holders & needle forceps Cleaning brushes Light cables Other endoscopy accessories Other endoscopy equipment Other electronic endoscopy equipment Endoscopy ultrasound (EUS) Insufflators Endoscopy fluid management systems Other electronic endoscopy instruments
Bronchoscopy Arthroscopy Laparoscopy Urology endoscopy Neuroendoscopy Gastrointestinal endoscopy Obstetrics/Gynecology endoscopy ENT Endoscopy Others
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North America U.S. Canada Mexico Europe Germany France UK Rest of Europe Asia-Pacific Japan China India Australia Rest of Asia-Pacific LAMEA Brazil Saudi Arabia Republic of South Africa
Other players in the value chain include (profiles not included in the report)
B. Braun Melsungen AG Cook Medical Artherx Inc. Frontier Healthcare Minntech Corporation (Subsidiary of Cantel Medical Corp.) Advanced Sterilization Products Services Inc. Richard Wolf GmbH STERIS Corporation Siemens Healthcare US Endoscopy Group
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