Endoscopy Devices Market

Global Endoscopy Devices Market is valued at USD 49.64 Billion in 2022 and it is expected to reach USD 78.99 Billion by 2029 with a CAGR of 6.86% over the forecast period.

Global Endoscopy Devices Market: Global Size, Trends, Competitive, and Historical & Forecast Analysis, 2022-2029: The market will expand due to an increase in healthcare expenditure by governments and private organizations, increasing prevalence of gastrointestinal and respiratory diseases, and technological advancements in endoscopy devices.

Scope of Global Endoscopy Devices Market Report-

Endoscopy devices are medical instruments that allow doctors to examine the inside of the body through natural openings or small incisions. These devices consist of a flexible or rigid tube with a camera and light source at the end, which is inserted into the body to capture images and transmit them to a monitor for viewing.

The history of endoscopy devices dates back to the early 1800s when doctors used primitive instruments to examine the body's cavities. The first modern endoscope was developed in 1853 by a German physician, Philipp Bozzini. Since then, endoscopy technology has evolved significantly, with the development of more advanced cameras, illumination sources, and imaging systems.

Endoscopy devices are used in a wide range of medical specialties, including gastroenterology, pulmonology, urology, gynecology, and orthopedics. They are used to diagnose and treat a variety of conditions, such as gastrointestinal disorders, respiratory diseases, cancer, and musculoskeletal injuries.

End-users of endoscopy devices include hospitals, clinics, and ambulatory surgery centers. These facilities typically have specialized departments or units that are equipped with endoscopy equipment and staffed by trained medical professionals.

COVID-19 Impact on the Endoscopy Devices Market:

The COVID-19 pandemic has had a significant impact on the global Endoscopy Devices Market. While the pandemic has had some positive impacts, such as increased demand for endoscopy devices used for COVID-19 diagnosis and treatment, such as bronchoscopes and video laryngoscopes. However, the respiratory endoscopy devices segment is expected to see growth due to increased demand for bronchoscopes for COVID-19 diagnosis and treatment.

Additionally, it has also negative impacts, such as disruptions in supply chains and delays in elective procedures. The pandemic has led to significant disruptions in healthcare systems and economies worldwide and has had a major impact on many industries, including the Endoscopy Devices Market.

Key Players of Global Endoscopy Devices Market Report-

Some major key players for the global Endoscopy Devices Market report cover prominent players like-

• Olympus Corporation
• Karl Storz SE & Co. KG
• Stryker Corporation
• Fujifilm Holdings Corporation
• Medtronic Plc
• Boston Scientific Corporation
• Cook Medical Incorporated
• Smith & Nephew Plc
• Johnson & Johnson
• Richard Wolf GmbH
• Pentax Medical Company
• Conmed Corporation
• Ambu A/S
• B. Braun Melsungen AG
• HOYA Corporation.
• Shanghai Aohua Photoelectricity Endoscope Co.Ltd.
• GIMMI GmbH
• KARL STORZ Endoscopy-AmericaInc.
• Steris Corporation
• Vimex Endoscopy
• XION GmbH
• OPTOMIC
• Vision Sciences Inc.
• Teleflex Incorporated
• EFER Endoscopy
• Henke-Sass
• Wolf GmbH
• Maxer Endoscopy

Global Endoscopy Devices Market Segmentation: -

By Product:

• Endoscope

  • Flexible Endoscopes
    • Gastroscopes
    • Duodenoscopes
    • Colonoscopes
    • Bronchoscopes
    • Sigmoidoscopes
    • Nasopharyngoscopes
    • Rhinolaryngoscopes

  • Rigid Endoscopes

    • Laparoscopes
    • Arthroscopes
    • Cystoscopes
    • Hysteroscopes
    • Neuroendoscopes
    • Otoscopes
    • Sinusscopes
    • Mediastinoscopes

  • Capsule Endoscopes

    • Small Bowel Capsule Endoscopes
    • Colon Capsule Endoscopes
    • Esophageal Capsule Endoscopes

• Endoscopy Operative Devices

  • Energy Systems
  • Access Devices
  • Suction & Irrigation Systems
  • Hand Instruments
  • Wound Retractors
  • Snares

• Endoscopy Visualization Systems

  • Standard Definition (SD) Visualization Systems

    • 2D systems
    • 3D systems

  • High Definition (HD) Visualization Systems

    • 2D systems
    • 3D systems

  • Endoscopy Visualization Component

    • Video Processors
    • Camera Heads
    • Insufflators
    • Endoscopy Cameras
    • Light Sources and Accessories
    • Wireless Displays and Monitors
    • Suction Pumps

By Application:

• Gastrointestinal Endoscopy
• Laparoscopy
• Obstetrics/Gynecology Endoscopy
• Arthroscopy
• Urology Endoscopy
• Bronchoscopy
• Mediastinoscopy
• Otoscopy/Laryngoscopy
• Others

By End-User:

• Hospitals
• Ambulatory Surgical Centers
• Diagnostic Centers

By Regional & Country Level:

• North America

  • U.S.

  • Canada

• Europe

  • U.K.
  • France
  • Germany
  • Italy

• Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia

• Latin America

  • Brazil
  • Mexico

• Middle East and Africa

  • GCC
  • Africa
  • Rest of Middle East and Africa

Market Revenue generation model:

The revenue generation model for endoscopy devices are typically based on the sale of equipment to end-users, as well as the provision of related services, such as maintenance and repair. Some companies also generate revenue by offering training and educational programs to healthcare professionals.  

Supply chain model:

The supply chain model for endoscopy devices typically involves multiple players, including manufacturers, distributors, and healthcare facilities. Manufacturers produce the devices and sell them to distributors, who in turn sell them to end users. Healthcare facilities also play a role in the supply chain by purchasing and using the devices.

Value chain model:

The value chain model for endoscopy devices involves a range of activities, including research and development, manufacturing, marketing and sales, distribution, and service and support. Each of these activities contributes to the creation and delivery of value to end-users and patients and requires specialized expertise and resources. 

Market Drivers:

Increasing prevalence of gastrointestinal and respiratory diseases: The increasing prevalence of gastrointestinal and respiratory diseases worldwide is driving demand for endoscopy procedures and devices. For example, according to the American Cancer Society, colorectal cancer is the third most commonly diagnosed cancer worldwide, with over 1.9 million new cases in 2020. It is estimated that 11% of the US population suffers from chronic gastrointestinal disease, with a prevalence of up to 35% in those 65 years and older.

Technological advancements in endoscopy devices: The increasing efficiency and accuracy of endoscopy procedures, and driving demand for new and innovative devices. For instance, the development of high-definition and 3D endoscopes has allowed for better visualization and more accurate diagnosis of medical conditions. For example, according to the American Society for Gastrointestinal Endoscopy (ASGE), it is estimated that over 20 million GI endoscopies are performed each year in the United States.

Market Restraints:

The high cost of endoscopy devices and procedures is a significant restraining factor for the growth of the market, particularly in developing countries. This can limit access to endoscopy procedures and devices for patients who cannot afford them.

For example, the cost of an upper endoscopy or colonoscopy tube can range from $20,000 to $40,000. A complete two-tube working system, which is used to explore both the upper and lower gastrointestinal tract, can cost around $80,000 to $120,000. Endoscopic ultrasound systems, which are used to produce images of internal organs and tissues, can cost even more, typically in the range of $200,000.

Market Opportunity Factors:

Increasing prevalence of gastrointestinal diseases: The rising incidence of gastrointestinal disorders such as colorectal cancer, inflammatory bowel disease, and gastrointestinal bleeding is expected to drive demand for endoscopy devices. According to the World Gastroenterology Organisation, gastrointestinal cancers account for 25% of all cancers worldwide.

Growing geriatric population: As the global population ages, the demand for endoscopy procedures is likely to increase. According to the United Nations, the number of people aged 65 years and above is projected to reach 1.5 billion by 2050.

Market Trends:

Product and Technology Development Trends:

High-definition and ultra-high-definition endoscopes: Manufacturers are developing endoscopes with higher resolutions, enabling more accurate and precise diagnoses.

Wireless endoscopes: Wireless endoscopes eliminate the need for tethering, making procedures less cumbersome and more efficient.

Capsule endoscopes: Capsule endoscopes are ingestible and provide non-invasive imaging of the gastrointestinal tract, making them a valuable tool for screening and diagnosis.

Artificial intelligence (AI): AI is being integrated into endoscopy devices to assist with real-time decision-making and to improve the accuracy of diagnoses.

Customer Trends:

• Increasing patient demand for minimally invasive procedures.
• Growing demand for personalized medicine and tailored treatment options.
• Shift towards outpatient settings and ambulatory surgical centers for endoscopy procedures.

Market Competition Nature:

The Endoscopy Devices Market is highly competitive, with several key players including Olympus Corporation, Fujifilm Holdings Corporation, KARL STORZ SE & Co. KG, Boston Scientific Corporation, and Medtronic. These companies compete based on product offerings, pricing, quality, and innovation.

Past/Future Strategies of Key Market Players:

Product innovation: Key players have focused on developing innovative endoscopy devices to differentiate their offerings and gain a competitive edge.

Strategic partnerships and collaborations: Companies have formed strategic partnerships and collaborations to expand their product portfolios and geographic reach.

Mergers and acquisitions: Key players have acquired or merged with other companies to gain access to new technologies and markets.

Expansion into emerging markets: Companies have focused on expanding into emerging markets, where there is growing demand for endoscopy procedures and devices.

Emphasis on patient-centric care: Key players are placing more emphasis on patient-centric care, and developing devices and services that improve the patient experience and outcomes.

Geography Analysis:

North America:

North America is a significant market for endoscopy devices, with the United States being the largest contributor to the market's growth. The region's market is driven by factors such as favorable reimbursement policies, the increasing prevalence of gastrointestinal disorders, and the growing demand for minimally invasive surgeries.

For example, according to the Centers for Disease Control and Prevention, the prevalence of inflammatory bowel disease (IBD) is increasing in North America. In the United States, approximately 1.6 million people are affected by IBD, and the prevalence is projected to increase to 3.1 million by 2030. In Canada, the prevalence of IBD is estimated to be approximately 270,000 people.

In Canada, digestive disorders are estimated to affect about 20% of the population, with an annual cost of $18 billion in direct and indirect costs. These increasing prevalence rates of gastrointestinal disorders in North America are expected to drive the demand for endoscopy devices in the region.

Europe:

Europe is another important market for endoscopy devices, with countries such as Germany, France, and the UK being major contributors to the region's growth. The European market is driven by factors such as the increasing prevalence of gastrointestinal disorders, the growing demand for minimally invasive surgeries, and advancements in endoscopy technology.

For example, according to the European Association for Endoscopic Surgery, minimally invasive procedures are currently performed in over 70% of all surgeries in Europe. In the UK, the National Health Service (NHS) has set a target for 50% of all surgical procedures to be carried out using minimally invasive techniques by 2025.

Key Benefits of Global Endoscopy Devices Market Report–

• Global Endoscopy Devices Market report covers in-depth historical and forecast analysis.
• Global Endoscopy Devices Market research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, and Regional and Country Level.
• Global Endoscopy Devices Market report helps to identify opportunities in the marketplace.
• Global Endoscopy Devices Market report covers an extensive analysis of emerging trends and the competitive landscape.