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The global endoscopy devices market size is estimated to grow by USD 14.24 billion, at a CAGR of 7.17% between 2023 and 2028.
Endoscopy procedures, known for their minimally invasive (MI) nature, offer advantages such as reduced blood loss, lower infection risks, and quicker patient recovery. Laparoscopy, a key MI technique, is widely used in surgeries like cholecystectomy and appendectomy, as well as in detecting gastrointestinal cancers. Healthcare providers and stakeholders advocate for MI techniques over traditional open surgeries due to their shorter hospital stays and fewer complications. Device manufacturers conduct training programs to enhance medical professionals' skills in endoscopy device usage, fostering their adoption. The growing demand for MI procedures, aided by technological advancements and training initiatives, will propel the market.
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The market is pivotal in addressing various medical conditions such as coronary (ischemic) heart disease, peripheral arterial disease, and stroke. It plays a crucial role in diagnosing and treating cardiovascular diseases and enables minimally invasive procedures for abdominal and pelvic surgeries. Endoscopic units are essential tools in healthcare facilities and contribute significantly to enhancing the healthcare sector and infrastructure.
The market share by the laparoscopy segment will be significant during the forecast period. There is an increased need for laparoscopy when conventional and non-invasive methods such as ultrasound, X-ray, CT scan, and MRI do not provide an accurate diagnosis or do not provide sufficient information for the diagnosis. In addition, laparoscopy has many applications, including cholecystectomy (removal of the gallbladder), in the diagnosis of gastric cancer, pelvic inflammatory disease, general surgery, hernia repair surgery, Gastric restriction, and Nissen fundoplication.
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The laparoscopy segment was valued at USD 8.81 billion in 2018. Laparoscopy is a procedure used to examine the organs inside the abdominal cavity. Continuous advancements in endoscopy help the market to grow further. For example, Olympus's ENDOEYE II video endoscope offers HD image quality and superior illumination and is available with chip-on-the-tip technology for bright, clear images. These endoscopes also feature proprietary narrowband imaging technology, which improves visual visualization of the mucosal area. Thus, these factors will drive the growth of the laparoscopy segment in the market during the forecast period.
The accessories and others?segment will account for the largest share of this segment. Some of the products in this segment are light sources, cameras, video cameras, processors, camera heads, video converters, transmitters, printers, digital capture systems, light cables, cleaning brushes, surgical instruments, needle holders, mouthpieces, and biopsy valves, as well as electronic and mechanical endoscopic equipment. Demand for this segment is growing with increasing demand for end-user endoscopes. Sellers of disposable and reusable products as well as innovative products focus on reducing healthcare costs and improving hygiene levels. As a result, such factors will drive the growth of accessories and other segments during the forecast period.
Endoscopes come in three types, namely gid, flexible, and capsule endoscopes. Rigid endoscopes are used when organ anatomy is straight and there are no bends or curvature. Flexible endoscopes include flexible fiber optic endoscopes and flexible video endoscopes. Capsule endoscopy also eliminates the risk of infection. Furthermore, increasing awareness programs have the potential to benefit the market. For example, CDC raises awareness about colon cancer with the Colorectal Cancer Control Program (CRCCP) across the US. Under the program, men and women over the age of 50 are screened for colorectal cancer. Thus, such initiatives have the potential to increase the adoption of capsule endoscopy and thus promote the growth of the market.
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North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers will shape the market during the forecast period. The increasing prevalence of chronic diseases such as arthritis, gastrointestinal diseases, and ENT disorders are contributing to the growth of the market. These chronic diseases require diagnostic medical procedures such as endoscopy to examine and provide images of the inside of the body and organs, something that standard examinations cannot do, therefore contributing to the demand for endoscopic devices.
Furthermore, the market is driven by factors such as rising patient awareness of various diseases and the importance of preventive healthcare. As a result, increasing public awareness of the risk of colorectal cancer and the benefits of early treatment has significantly increased the adoption rate of laparoscopic procedures. Favorable return policies available for various endoscopic procedures are likely to benefit the market. Hence, such factors are expected to drive market growth in this region during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
AnX Robotics, asap endoscopic products GmbH, B.Braun SE, Boston Scientific Corp., Clarus Medical LLC, Conmed Corp., Cook Group Inc., Ecleris USA, ESC Medicams, FUJIFILM Corp., Integrated Endoscopy, Johnson and Johnson Services Inc., KARL STORZ SE and Co. KG, Medtronic, NeoScope Inc., Olympus Corp., PENTAX Medical Co., Pristine Surgical LLC, SonoScape Medical Corp., and Stryker Corp.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
In the realm of healthcare, endoscopy devices play a pivotal role in both elective procedures and critical interventions. With advancements like the EndoRunner Tour, medical professionals address conditions ranging from coronary heart disease to atrial fibrillation. These devices facilitate minimally invasive surgeries, ensuring diagnostic accuracy and improved patient care. As medical innovation drives progress, endoscopic technologies continue to enhance healthcare systems and facilities, supporting interventions across various specialties such as arthroscopy and abdominal surgeries. Endoscopists rely on these devices to navigate and visualize visceral organs, promoting effective surgical interventions and reducing the need for invasive procedures. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
Growing demand for video endoscopy systems is the key factor driving the growth of the market. A video endoscope is a fiber optic endoscope with a camera attachment, which is used to view internal organs such as the stomach, esophagus, and others. These video endoscopes represent pioneering technology in the field of medical imaging for the diagnosis and treatment of various conditions. Due to the growing demand for video endoscopes, market players are focusing on the design and manufacture of advanced video endoscopes used in various diagnostic and therapeutic applications.
Moreover, global and emerging market players are trying to increase their market share by providing next-generation systems to end users. Market players such as KARL STORZ and PENTAX have brought to market very advanced video scopes. For example, the G-EYE HD+ video endoscope supplied by PENTAX Medical is intended for the optical visualization of the gastrointestinal tract as well as the diagnosis and treatment of related diseases. Therefore, due to technical advancements, improved design, accurate diagnosis, and reliable results, the demand for video endoscopy systems is increasing, thereby contributing to the growth of the market.
The growing popularity of capsule endoscopy is one of the primary market trends shaping the market. Capsule endoscopy is a procedure that involves injecting a capsule, which records an image of the digestive tract. The capsule is disposable and about the size of a pill, containing a light source, transmitter, and miniature video camera. As the capsule passes through the digestive tract, it has thousands of images transmitted to the recorder. Capsule endoscopy is recommended as a third step of investigation if colonoscopy and gastroscopy are negative.
Furthermore, players are innovating capsule endoscopy by incorporating technological advancements. For example, the Olympus MAJ-2029 endoscopic recorder delivers optimal clinical performance, improves ease of use, and enables real-time process visualization. In addition, the company ENDOCAPSULE (MAJ-2027) offers high-resolution images with a wide field of view, four white LEDs, and an ultra-compact lens. Hence, with the increase in gastrointestinal disorders, the launch of new endoscopic capsules is likely to contribute to their demand and usage, thereby driving the growth of the market during the forecast period.
The lack of skilled professionals is a major challenge that affects the growth of the market. Endoscopic procedures require highly trained professionals to prevent a number of risks and complications for the patient. A lack of expertise in using an endoscope during an examination can lead to misdiagnosis and harm to the patient. Endoscopic procedures require a thorough understanding of the device as well as human anatomy so that the technician handling the device can navigate the human body and locate a target for surgery or diagnosis.
Furthermore, in hospitals and other healthcare settings, staff should be trained in the use of endoscopes and understand the additional reprocessing steps required to prevent possible cross-contamination. the patient's potential for infection. Therefore, the shortage of skilled and specialized endoscopic technicians is likely to preclude the use of endoscopic devices and impede market growth during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market growth and forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
The market is witnessing rapid advancements in medical technologies, particularly in flexible endoscopes and optical instruments. These devices utilize flexible transparent fibers to offer precise diagnosis and treatment for various conditions, including inflammatory bowel diseases (IBD), stomach cancer, and respiratory infections. Innovations like artificial intelligence and remote-controlled technologies enhance diagnostic precision, while single-use devices ensure infection control and sterilization. From bronchoscopy to neuroendoscopy, these devices find applications in gastrointestinal ailments and surgical systems, supporting healthcare solutions across ambulatory surgery centers and clinics.
Further, the market is pivotal in medical treatments, offering a range of specialized tools like flexible endoscopes and optical instruments. These devices play a crucial role in diagnosing conditions such as respiratory tumors, colorectal and stomach cancer, and gastrointestinal stromal tumors, particularly in critical settings like the Intensive Care Unit (ICU). With advanced imaging and national endoscopy database (NED), medical professionals can perform GI procedures with precision. From urology to gynecology and ENT endoscopy, these devices are integral to ambulatory surgery centers and clinic, bolstering healthcare infrastructure and patient care.
Market Scope |
|
Report Coverage |
Details |
Page number |
168 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.17% |
Market Growth 2024-2028 |
USD 14.24 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.49 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 41% |
Key countries |
US, Germany, UK, China, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AnX Robotics, Arthrex Inc., asap endoscopic products GmbH, B.Braun SE, Boston Scientific Corp., Clarus Medical LLC, Conmed Corp., Cook Group Inc., Ecleris USA, ESC Medicams, FUJIFILM Corp., Integrated Endoscopy, Johnson and Johnson Services Inc., KARL STORZ SE and Co. KG, Medtronic, NeoScope Inc., Olympus Corp., PENTAX Medical Co., Pristine Surgical LLC, SonoScape Medical Corp., and Stryker Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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