SAN FRANCISCO, March 23, 2022 /PRNewswire/ -- The global endoscopy devices market size is expected to reach USD 81.0 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a compounded annual growth rate (CAGR) of 7.4% from 2022 to 2030. Growing adoption of minimally invasive endoscopic procedures by medical professionals to look into the esophagus, colon, and stomach and also its application to perform biopsies and sclerotherapy are some of the factors boosting the market growth. In addition, the increasing trend of adopting disposable endoscopes to reduce the chances of cross contaminations is also anticipated to fuel the growth of the market over the forecast years.
Key Insights & Findings from the report:
- The market is anticipated to be valued at USD 81.0 billion by 2030 owing to the growing adoption of minimally invasive endoscopic procedures by medical professionals in comparison with open surgeries.
- The endoscopy visualization systems segment dominated with highest revenue share in 2021 owing to growing adoption of High Definition (HD) visualization systems by medical professionals for better imaging results during endoscopic procedures.
- In 2021, the Gastrointestinal (GI) endoscopy segment accounted for the highest revenue share owing to the growing burden of functional gastrointestinal diseases and rising geriatric population.
- Hospitals accounted for the highest revenue share of 48.1% in 2021, owing to favorable reimbursement policies and high availability of government and private hospitals performing endoscopy procedures.
- North America accounted for the largest revenue share of 42.3% in 2021, owing to increasing adoption of advanced endoscopy devices and high availability of modern healthcare facilities performing minimally invasive surgical procedures.
Request a free sample copy or view report summary, "Endoscopy Devices Market Size, Share & Trends Analysis Report By Product, By Application, By End Use, By Region (North America, Europe, Asia Pacific, Latin America, MEA), And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Endoscopy Devices Market Growth & Trends
In 2021, based on product, the endoscopy visualization systems segment accounted for the highest revenue share of 36.5% of the market. This is attributed to the growing adoption of High Definition (HD) visualization systems by medical professionals for better imaging results during endoscopic procedures. In addition, continuous technological advancements of endoscopy visualization systems for the treatment and diagnosis of complex health conditions such as cancer, functional gastrointestinal disorders, lung disorders, and urinary disorders also support segment growth.
Based on application, the Gastrointestinal (GI) endoscopy segment dominated the market in 2021 in terms of revenue owing to the increasing burden of gastrointestinal diseases and the rising geriatric population. In addition, increasing recommendation by medical professionals to perform endoscopic procedures as the first line of diagnosis option for gastrointestinal disorders is also one of the major factors supporting the segment growth. The hospitals segment accounted for the highest revenue share of 48.1% in 2021. This is attributed due to the larger number of endoscopic procedures performed in the hospitals than in other end-use segments.
In addition, favorable reimbursement policies and the high availability of government and private hospitals performing endoscopy procedures are some of the prominent factors anticipated to drive the segment growth. North America dominated the market in terms of the revenue share of 42.3% in 2021. The highest revenue share of this region is attributed due to the increasing adoption of advanced endoscopic devices and the high availability of modern healthcare facilities performing minimally invasive surgical procedures. In addition, growing functional gastrointestinal disorders and other chronic diseases such as cancer also are the major factors driving market growth in this region.
Furthermore, the COVID19 pandemic has significantly impacted the market owing to the cancellation and postponement of elective procedures. Moreover, the fear of getting infected with the COVID-19 virus also reduced the number of surgical procedures which in turn led to the de-growth of the endoscopy devices adoption in 2020. For instance, according to a study published in the Arab Journal of Gastroenterology in 2020, the number of endoscopy procedures decreased about 50% during the COVID19 pandemic in the majority of countries all over the globe.
Endoscopy Devices Market Segmentation
Grand View Research has segmented the global endoscopy devices market based on product, application, end use, and region:
Endoscopy Devices Product Outlook (Revenue, USD Million, 2014 - 2030)
- Endoscopes
- Rigid Endoscopy Devices
- Laparoscopes
- Arthroscopes
- Urology endoscopes
- Cystoscopes
- Gynecology endoscopes
- Neuroendoscopes
- Other rigid endoscopes
- Flexible Endoscopy Devices
- Upper gastrointestinal endoscopes
- Colonoscopes
- Bronchoscopes
- Sigmoidoscopes
- Laryngoscopes
- Pharyngoscopes
- Duodenoscopes
- Nasopharyngoscopes
- Rhinoscopes
- Other flexible Endoscopy Devices
- Capsule Endoscopy Devices
- Disposable Endoscopy Devices
- Robot Assisted Endoscopy Devices
- Endoscopy Visualization Systems
- Standard Definition (SD) Visualization Systems
- 2D systems
- 3D systems
- High Definition (HD) Visualization Systems
- 2D systems
- 3D systems
- Endoscopy Visualization Component
- Camera Heads
- Insufflators
- Light Sources
- High Definition Monitors
- Suction Pumps
- Video Processors
- Operative Devices
- Energy Systems
- Access Devices
- Suction & Irrigation Systems
- Hand Instruments
- Wound Retractors
- Snares
Endoscopy Devices Application Outlook (Revenue, USD Million, 2014 - 2030)
- Gastrointestinal (GI) endoscopy
- Laparoscopy
- Obstetrics/gynecology endoscopy
- Arthroscopy
- Urology endoscopy (cystoscopy)
- Bronchoscopy
- Mediastinoscopy
- Otoscopy
- Laryngoscopy
- Other applications
Endoscopy Devices End-use Outlook (Revenue, USD Million, 2014 - 2030)
- Hospitals
- Ambulatory surgery centers
- Other end uses
Endoscopy Devices Regional Outlook (Revenue, USD Million, 2014 - 2030)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Switzerland
- Denmark
- Asia Pacific
- China
- Japan
- India
- Australia
- New Zealand
- Thailand
- Indonesia
- Malaysia
- Vietnam
- Philippines
- Latin America
- Mexico
- Brazil
- Argentina
- Middle East Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
- Israel
- Qatar
List of Key Players of Endoscopy Devices Market
- Olympus Corporation
- Ethicon Endo-surgery, LLC.
- FUJIFILM Holdings Corporation
- Stryker Corporation
- Boston Scientific Corporation
- Karl Storz GmbH & Co. KG
- Smith & Nephew Inc.
- Richard Wolf GmbH
- Medtronic Plc (Covidien)
- PENTAX Medical
- Machida Endoscope Co., Ltd.
Check out more related studies published by Grand View Research:
- Endoscopy Operative Devices Market - The global endoscopy operative devices market size is expected to reach USD 11.7 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.1% from 2021 to 2028. The rising prevalence of chronic diseases, surging demand for minimally invasive procedures, and increasing technological advancement in endoscope systems are the key factors aiding the market growth.
- Endoscopes Market - The global endoscopes market size is expected to reach USD 27.9 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.4% from 2022 to 2030. Growing awareness levels about minimally invasive surgical procedures and the increasing prevalence of chronic disorders are the major factors accelerating the market growth.
- Endoscopy Visualization Systems Market - The global endoscopy visualization systems market size is expected to reach USD 35.0 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.0% from 2021 to 2028. Significant increase in the number of endoscopic procedures and increasing preference for minimally invasive surgeries are major factors contributing to the expansion of the market.
Browse through Grand View Research's Medical Devices Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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