Endoscopy is a minimally invasive surgical procedure employed to visualize internal organs of the human body; it is also used in surgeries performed on various organs. The procedure is performed with the help of a small flexible tube known as an endoscope. This tube is attached to a camera, enabling a clear view of the organ to be observed. Based on the area to be examined, various types of scopes are available; a few of these are arthroscopes, bronchoscopes, laparoscopes, and hysteroscopes. Various other devices and instruments are used in an endoscopy procedure for better visualization, sterilization, and enhanced-quality imaging.
The growing demand for minimally invasive techniques in surgical procedures reflects a significant shift in medical practice and patient preferences. This trend is driven by the desire to minimize the invasiveness of procedures, reduce the associated risks, and promote faster recovery times. Endoscopy is a minimally invasive surgery procedure that involves a minimal incision size, shortened recovery time, and better visibility into the internal body cavity. A surgeon can visualize and work within the body cavity using an endoscope without making a large incision. Minimally invasive approaches typically involve smaller incisions, and the use of specialized instruments and technologies to access different organs, which can lead to shorter hospital stays and less scarring. Moreover, patients often experience less pain and a quicker return to their daily activities. Surgeons have embraced these techniques due to their potential benefits, and advancements in medical devices and surgical skills. As a result, healthcare institutions are investing in training their medical teams and acquiring the necessary equipment to meet the increasing demand for minimally invasive endoscopy surgeries, thereby providing patients with improved treatment options and enhanced overall healthcare experiences.
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Endoscopy Device Market: Strategic Insights
The “endoscopy device market” is segmented on the basis of product, application, and end user. Based on product, the market is segmented into endoscopes, visualization systems, accessories, and other endoscopy devices. The market for the endoscopes segment is further subsegmented into flexible endoscopes, rigid endoscopes, robot-assisted endoscopes, and capsule endoscopes. The endoscopy device market for the visualization systems segment is further segregated into wireless displays and monitors, light sources, video processors, endoscopic cameras, video recorders, video converters, carts, transmitters and receivers, camera heads, and other instruments. The market for the other endoscopy devices segment is further segmented as electronic instruments and mechanical instruments. The market for the accessories segment is subsegmented into cleaning brushes, overtubes, surgical dissectors, light cables, fluid flushing devices, needle holders/needle forceps, mouthpieces, biopsy valves, and others. By application, the endoscopy device market is segmented into gastroscopy, laparoscopy, arthroscopy, otoscopy, urology endoscopy, bronchoscopy, laryngoscopy, and other applications. The market, based on end user, is segmented into hospitals, ambulatory surgical centers, and others.
By product, the endoscopes segment held the largest share of the endoscopy device market in 2022. The visualization systems segment is estimated to register the highest CAGR during 2022–2030. Visualization systems used in endoscopy procedures help in obtaining images and videos of enhanced quality. The visualization system in endoscopy procedures consists of components such as wireless displays and monitors, light sources, video processors, endoscopic cameras, video recorders, video converters, carts, transmitters and receivers, camera heads, and other instruments. Boston Scientific Corporation and KARL STORZ SE & Co. KG provide visualization systems in the endoscope devices market.
In terms of application, the gastroscopy segment held the largest share of the endoscopy device market in 2022. Further, the laparoscopy segment is expected to record the highest CAGR during 2022–2030. Gastroscopy (also known as upper endoscopy) involves examining the upper gastrointestinal tract, which includes the esophagus, stomach, and duodenum (the beginning part of the small intestine). It is used to diagnose conditions such as ulcers, tumors, inflammation, and gastroesophageal reflux disease (GERD). Endoscopy devices designed for gastroscopy include flexible endoscopes with advanced imaging capabilities provided by high-definition cameras and optical enhancements.
Based on end user, the hospitals segment held the largest share of the endoscopy device market in 2022. It is further expected to register the highest CAGR in the market during 2022–2030. Hospitals encompass a wide spectrum of medical facilities, ranging from community hospitals to large academic medical centers. They serve as major end users of endoscopy devices. The demand for endoscopy devices within hospital settings is mainly driven by a high footfall of patients into these facilities, which can be attributed to factors such as comprehensive care delivery, inpatient and outpatient services, and advanced procedures and interventions. Hospitals are equipped to perform complex endoscopic procedures, including surgeries, advanced imaging, and specialized therapeutic endoscopy. Endoscopes are also used to examine the interior of hollow organs or cavities inside the body. A few endoscopic examinations are particularly performed in hospital settings. For instance, cystoscopies are typically performed in hospital outpatient settings. Ureteroscopy procedures for managing or removing kidney stones are performed in operating rooms. Similarly, most ENT endoscopies, such as examining a patient’s nose or throat to assess breathing problems or swallowing difficulties, are performed in inpatient and outpatient hospital settings.
Based on geography, the endoscopy device market is segmented into Asia Pacific, Europe, the Middle East & Africa, North America, and South & Central America. In 2022, North America held the largest share of the global market. Asia Pacific is anticipated to register the highest CAGR in the endoscopy device market during 2022–2030.
The endoscopy device market in North America is split into the US, Canada, and Mexico. The US is the largest market for endoscopy device in this region. The market is majorly driven by the surging preference for minimally invasive surgeries and increasing prevalence of cancer. Other factors such as the introduction of advanced equipment in healthcare, a higher number of hospitals, and the implementation of strategic government policies also aid in promoting the expansion of the endoscopy device market. Additionally, the need for automated systems due to the increasing patient population and crunch of healthcare resources are expected to fuel the adoption of endoscopy systems in the US. Emphasis on using technologically advanced endoscopy devices equipped with high-definition cameras and light sources is also prominently expected to fuel the market growth during the estimated period.
The regional trends and factors influencing the Endoscopy Device Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Endoscopy Device Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 30,457.18 Million |
| Market Size by 2030 | US$ 52,100.72 Million |
| Global CAGR (2022 - 2030) | 6.9% |
| Historical Data | 2020-2022 |
| Forecast period | 2022-2030 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Endoscopy Device Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Endoscopy Device Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
Various initiatives taken by key players operating in the endoscopy device market are listed below:
Boston Scientific Corp, Medtronic Plc, Stryker Corp, Johnson & Johnson, Karl Storz SE & Co KG, Olympus Corp, Ambu AS, Conmed Corp, B Braun SE, and PENTAX Medical are among the prominent companies operating in the endoscopy device market. These companies focus on new technologies, existing products advancements, and geographic expansions to meet the globally growing consumer demand.
The List of Companies - Endoscopy Device Market
The endoscopy devices market by user was metameric into hospitals and ambulant surgical centers and alternative end users. The hospitals section command the most important share of the market, by application. The section is additionally anticipated to grow at a gradual rate throughout the forecast amount, thanks to availableness of compensation for endoscopy procedures.
The marketplace for endoscopy devices is anticipated to grow within the returning years, due to the technological advancements created by the players in operation within the market. These technological advancements have created the procedure of endoscopy easier also because the results obtained are a lot of correct and accurate.
The outstanding players in operation in endoscopy devices market are STRYKER, Medtronic, KARL STORZ SE & Co. KG, Ethicon US, LLC., Olympus Corporation, Richard Wolf GmbH, Boston Scientific Corporation, Smith & Nephew, Cook, and FUJIFILM Holdings Corporation.
The market is calculable to grow with a CAGR of 7.5% from 2018-2025.
North America is that the largest geographic market and it's expected to be the most important revenue generator throughout the forecast amount. North America's market is driven by the factors like, bureau approvals (FDA) obtained by the Endoscopy Devices market players also as rising prevalence of cancer cases.