The Endoscopy Devices And Equipment by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Endoscopy Devices And Equipment, The endoscopy devices and equipment market size has grown strongly in recent years. It will grow from $8.37 billion in 2023 to $8.92 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to increasing prevalence of gastrointestinal diseases, an increasing acceptance of endoscopic procedures, an increased healthcare expenditure and growth in medical tourism.
The endoscopy devices and equipment market size is expected to see strong growth in the next few years. It will grow to $11.52 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to the rising aging population, increasing incidence of chronic diseases, growing prevalence of obesity and new regulatory approvals. Major trends in the forecast period include use of artificial intelligence (ai) and machine learning, use of single-use endoscope, enhanced visualization technology, innovations in endoscope disinfection technology, 3d imaging technology, advanced robotics technology, wireless endoscopes, dual-channel endoscopes, real-time endoscope visualization systems, wireless capsule endoscopy, improved data management systems and miniaturization of endoscopes.
The increasing prevalence of cancer and gastrointestinal disorders is expected to propel the growth of the rigid endoscope market going forward. Cancer refers to the abnormal growth of the cells that leads to dysfunction of organs and tissue, whereas Gastrointestinal disorders are disorders of the digestive system. Endoscopes are used for diagnosing and treating cancer and gastrointestinal disorders, allowing clinicians to see into the patient’s body, biopsy, and do minimally invasive operations that can lead to earlier diagnosis and effective treatment. For instance, in February 2022, according to the report published by World Health Organization, a Switzerland-based international organization for public health, cancer is the largest cause of mortality in the globe, accounting for over 10 million deaths in 2020, or roughly one in every six, in which breast, lung, colon, rectum, and prostate cancers are the most prevalent. Therefore, the increasing prevalence of cancer and gastrointestinal disorders drives the growth of the endoscopy devices and equipment market.
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The endoscopy devices and equipment market covered in this report is segmented –
1) By Product: Endoscope, Endoscopy Operative Devices, Endoscopy Visualization Systems
2) By Application: Bronchoscopy, Arthroscopy, Laparoscopy, Urology Endoscopy, Neuroendoscopy, Gastrointestinal Endoscopy, Obstetrics/Gynecology Endoscopy, ENT Endoscopy, Other Applications
3) By End-User: Hospitals, Clinics, Other End-Users
Medicines and Healthcare Products Regulatory Agency(MRHA), a regulatory body for medical devices in the UK, is a regulatory body governing drug and device alerts, drug safety updates, blood regulation, and safety, marketing authorizations and licensing guidance, medical devices regulation, and safety and many other activities. According to safety guidelines by MRHA, the medical device manufacturing companies in the industry recall their medical devices if any problem or defect is detected. For instance, in April 2022, KARL STORZ, a German endoscopy device company, issued an urgent medical device recall notice for certain KARL STORZ flexible endoscopes after it detected issues in product description and instructions for use and potential risk of injury during the use of the device.
The endoscopy devices and equipment market report table of contents includes:
1. Executive Summary
2. Endoscopy Devices And Equipment Market Characteristics
3. Endoscopy Devices And Equipment Market Trends And Strategies
4. Endoscopy Devices And Equipment Market – Macro Economic Scenario
5. Global Endoscopy Devices And Equipment Market Size and Growth
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26. South America Endoscopy Devices And Equipment Market
27. Brazil Endoscopy Devices And Equipment Market
28. Middle East Endoscopy Devices And Equipment Market
29. Africa Endoscopy Devices And Equipment Market
30. Endoscopy Devices And Equipment Market Competitive Landscape And Company Profiles
Top Major Players:
- Olympus Corporation
- Boston Scientific Corporation
- Stryker Corporation
- Fujifilm
- Karl Storz SE & Co. KG
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