Endoscopy Devices Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, UK, China, Japan - Size and Forecast 2024-2028

Endoscopy Devices Market Size 2024-2028

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.

What will be the size of the Market During the Forecast Period?

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Segmentation by Application, Product, and Geography Analysis

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.

Application Analysis 

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. 

Product Segment Analysis 

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. 

Regional Analysis

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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.  

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Key Market Players 

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:

• Arthrex Inc.: The company offers endoscopy devices such as Laparoscopes, StarFish Scope Rotation Attachment, Synergy Sheath Accessories, Instrument Cases, Insufflation, and ENT Scopes.

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.

Market Dynamics and Customer Landscape

The market experiences robust growth driven by factors such as the increasing elderly population and the rising prevalence of chronic disease burden necessitating specialized procedures like urology, gynecology, and ENT endoscopy. Gastrointestinal endoscopy and minimally invasive surgeries are gaining traction due to advancements in endoscopic technologies, including disposable components and robotics. These devices play a crucial role in diagnosing conditions like gall stones, intestinal perforation, and endometriosis. With the growing demand for minimally invasive procedures, endoscopes find extensive use in hospitals and ambulatory surgery centers. Laparoscopy, bronchoscopy, arthroscopy, and neuroendoscopy are among the key applications supported by sterilization advancements. As the demand rises, the market witnesses continuous innovation, including the integration of artificial intelligence, catering to the evolving needs of medical professionals and improving patient care.

Key Market Drivers

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. 

Significant Market Trends

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 market forecast period. 

Major Challenges

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. 

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Key Market Customer Landscape

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

Segment Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides an market growth analysis of the latest trends and growth opportunities from 2018 to 2028. 

• Application Outlook
  • Laparoscopy
  • GI
  • Others

• Product Outlook
  • Accessories and others
  • Endoscopes

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of the World(ROW)
    • Brazil 
    • Argentina
    • Australia

Market Analyst Overview:

The market is propelled by the increasing demand for minimally invasive GI procedures, supported by advancements like artificial intelligence and high-definition cameras. These devices find extensive application in healthcare services, including ambulatory surgery centers, catering to a growing elderly and geriatric population. With specialized endoscopy procedures such as urology, gynecology, ENT, bronchoscopy, and neuroendoscopy, the market addresses diverse medical needs. Rigid, flexible, and capsule endoscopes, along with robot-assisted variants, offer versatile visualization and documentation capabilities. Factors like sterilization and disposable components ensure safety and hygiene. With a focus on chronic disease burdens and conditions like liver abscess, gallstones, and endometriosis, endoscopy devices play a vital role in diagnosis, treatment, and biopsies, contributing to patient satisfaction and economic viability in modern healthcare settings.

Moreover, the market witnesses a surge in demand owing to various factors, including the rising elderly population and the prevalence of chronic diseases like gastrointestinal disorders. Specialized endoscopy procedures such as urology endoscopy, gynecology endoscopy, ENT, and gastrointestinal endoscopy cater to diverse medical needs efficiently. With the advent of innovative technologies, endoscopy devices now feature high-definition cameras, robotic assistance, and disposable endoscopic components, ensuring precise diagnostics and minimally invasive surgical procedures. These devices play a crucial role in reducing hospital stays and post-procedure complications, particularly in elective surgeries. From outpatient facilities to diagnostic clinics, endoscopy devices are indispensable in various medical settings, including gastroenterology, pulmonology, orthopedic surgery, cardiology, and neurology, contributing significantly to improved patient outcomes and healthcare advancements.

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	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market research and growth between 2024 and 2028
• Precise estimation of the size and its contribution to the market in focus on the parent market
• Detailed analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on companies' position and classification
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of companies

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