Global Endoscopy Devices Market Insights Forecasts to 2030
- The global endoscopy devices market was valued at USD 42.7 billion in 2021.
- The market is growing at a CAGR of 7.5% from 2021 to 2030
- The global Endoscopy Devices Market is expected to reach USD 81.8 billion by 2030
- The Asia Pacific is expected to grow the fastest during the forecast period
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The global endoscopy devices market is expected to reach USD 81.8 billion by 2030, at a CAGR of 7.5% during the forecast period 2021 to 2030. Endoscopic equipment is less invasive, and post- and pre-procedure costs are low. These are the main reasons why the market is expected to grow during the forecast period. Over time, the market is also expected to grow faster as the trend moves toward using disposable endoscopic parts to lower the cost of the operation and the risk of cross-contamination. This is likely to be a major factor in the growth of the market.
Endoscopy is a type of medical equipment that lets doctors see how the organs inside the body are built and how they work. An endoscopic device has a rigid or flexible tube, a light system, a lens, an eyepiece, a camera, and a channel that can fit other medical tools. Philipp Bozzini was the first person to make an endoscope in the year 1806. Several companies have recently released new products after getting permission from the FDA to do so. Endoscopy equipment is used to diagnose and treat a wide range of diseases and conditions, such as irritable bowel syndrome, Crohn's disease, ulcerative colitis, stomach ulcer, tumours, infections, blockage, hiatal hernia, gastroesophageal reflux disease (GERD), etc. Endoscopic equipment is being used more and more because of things like the number of people with chronic diseases, the need for less invasive procedures, and the improvement of technology. The growing need for more advanced and cost-effective treatments drives the creation of new endoscopy technologies and tools, which in turn grows the market for these products. Most of the time, endoscopy is used to treat conditions that affect the digestive tract. Endoscopic technique has changed over the years to include esophagogastroduodenoscopy, colonoscopy, flexible sigmoidoscopy, endoscopic retrograde cholangiopancreatography, and advanced imaging technology, such as endoscopic ultrasonography, wireless capsule endoscopy, and double-balloon enterostomy. Doctors and nurses use these methods to figure out what's wrong and how to treat it. One of the main reasons for the fast growth of the endoscopic equipment market is that this method is very good at diagnosing problems and can be used for a wider range of problems.
Global Endoscopy Devices Market Report Coverage
|Market Size in 2021:||USD 42.7 Billion|
|Forecast Period:||2021 - 2030|
|Forecast Period 2021 - 2030 CAGR:||7.5%|
|2030 Value Projection:||USD 81.8 Billion|
|Historical Data for:||2017 - 2020|
|No. of Pages:||199|
|Tables, Charts & Figures:||114|
|Segments covered:||By Type of Device, By Application, By Region|
|Companies Covered:||Fujifilm Holdings Corporation, Stryker Corporation, Karl Storz GmbH & Co. KG, Smith & Nephew Inc., Richard Wolf GmbH, Pentax Medical, Ambu Inc., Hoya Corporation, NEC Corporation, 3NT Medical Ltd, Machida Endoscope Co. Ltd.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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This research report categorizes the market for global based endoscopy devices market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global endoscopy devices market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each global endoscopy devices market sub-segments.
- In 2021, the endoscopes segment dominated the market with the largest market share of 45% and market revenue of 19.2 billion.
Based on the type of device, the endoscopy devices market is categorized into Endoscopes, Endoscopic Operative Device, and Visualization Equipment. In 2021, the endoscopes segment dominated the market with the largest market share of 45% and market revenue of 19.2 billion. Market growth is expected to be driven by the need for endoscopic tools that are both affordable and technologically advanced, as well as those that use a minimally invasive method. Endoscopic devices include endoscopic cameras, SD visualization cameras, and HD visualization cameras. When compared to SD visualization cameras, endoscopic cameras and high-definition (HD) visualization cameras make a lot more money on the market.
- In 2021, the gastroenterology segment accounted for the largest share of the market, with 30% and market revenue of 12.8 billion.
Based on the application, the endoscopy devices market is categorized into Gastroenterology, Pulmonology, Orthopedic Surgery, Cardiology, ENT Surgery, Gynecology, Neurology, and Other Applications. In 2021, gastroenterology dominated the market with the largest market share of 30% and market revenue of 12.8 billion. Compared to other applications, this one has a much larger market. Several important things are helping this market segment grow. Some of these are the growing number of older people around the world and the rise in the number of people with gastrointestinal diseases and other cancers.
Regional Segment Analysis of the Endoscopy Devices Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
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Among all regions, North America emerged as the largest market for the global endoscopy devices market, with a market share of around 39% and 42.7 billion of the market revenue in 2021.
- In 2021, North America emerged as the largest market for the global endoscopy devices market, with a market share of around 39% and 42.7 billion of the market revenue. It is thought that this is because of the rise of a number of long-term illnesses, such as cancer, diabetes, heart diseases, and functional gastrointestinal problems, among others. Endoscopic surgeries are also needed more in this area because the number of elderly people is growing. Older people are more likely to have a number of chronic diseases, so they need more of them. Also, more and more people are becoming aware of how important it is to catch illnesses early by using minimally invasive treatments. This, along with an improved healthcare infrastructure, is helping the market grow in this area.
- The Asia Pacific market is expected to grow at the fastest CAGR between 2022 and 2030. The growing demand for minimally invasive endoscopic technique and the improvement of the health care infrastructure are expected to speed up the region's growth in the market. Also, the growth of the market in the region is being helped by the fact that the government is taking more steps to update healthcare facilities and create a good environment for new businesses. This is one of the most important things that is making the market in the area grow.
The report offers the appropriate analysis of the key organizations/companies involved within the global endoscopy devices market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Market Players:
- Fujifilm Holdings Corporation
- Stryker Corporation
- Karl Storz GmbH & Co. KG
- Smith & Nephew Inc.
- Richard Wolf GmbH
- Pentax Medical
- Ambu Inc.
- Hoya Corporation
- NEC Corporation
- 3NT Medical Ltd
- Machida Endoscope Co. Ltd.
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
- In July 2022, The Food and Drug Administration's 510programme gave Zsquare permission to sell the Zsquare ENT-Flex Rhinolaryngoscope in the United States. Zsquare is a company that specialises in making high-performance, single-use endoscopes.
- In June 2022, Getinge made improvements to the ED-Flow automated endoscope reprocessor. This new version gave Getinge's endoscope reprocessing clients a better way to connect digitally and manage data. Because of this, uptime will get better and productivity will go up.
This study forecasts revenue at global, regional, and country levels from 2021 to 2030. Spherical Insights has segmented the global endoscopy devices market based on the below-mentioned segments:
Global Endoscopy Devices Market, By Type of Devices
- Endoscopic Operative Device
- Visualization Equipment
Global Endoscopy Devices Market, By Application
- Orthopedic Surgery
- ENT Surgery
Global Endoscopy Devices Market, Regional Analysis
- North America
- THE US
- Rest of Europe
- The Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
Frequently Asked Questions (FAQ)
What is the market size of the Endoscopy Devices market?As per Spherical Insights, the size of the Endoscopy Devices market was valued at USD 42.7 billion in 2021 to USD 81.8 billion by 2030.
What is the market growth rate of the Endoscopy Devices market?The Endoscopy Devices market is growing at a CAGR of 7.5% from 2021 to 2030.
Which country dominates the Endoscopy Devices market?North America emerged as the largest market for Endoscopy Devices.
Who are the key players in the Endoscopy Devices market?Key players in the Endoscopy Devices market are Fujifilm Holdings Corporation, Stryker Corporation, Karl Storz GmbH & Co. KG, Smith & Nephew Inc., Richard Wolf GmbH, Pentax Medical, Ambu Inc., Hoya Corporation, NEC Corporation, 3NT Medical Ltd, and Machida Endoscope Co. Ltd.
Which factor drives the growth of the Endoscopy Devices market?The prevalence of minimally invasive surgeries is expected to drive the market's growth over the forecast period.
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