Global Endoscopy Devices Market By Device Type (Endoscopes, Endoscopy Visualization Systems, Operative Devices), By Application (Gastrointestinal (GI) endoscopy, Arthroscopy, Laparoscopy, Bronchoscopy), By End Users(Hospitals, Ambulatory surgery centers and other end users), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East and America – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2022 – 2030
Report Code : BII931 May-2022 Healthcare Format : PDF Pages : 209
Global Endoscopy Devices Market
Factors responsible for the significant growth in the market are healthcare tourism's rapid expansion, increasing burden of cancer, rapid improvement in infrastructure, as well as the presence of flexible regulation in these countries encourage players in the endoscopy equipment market. Favorable regulatory rules and many governments institutions performing endoscopic operations are two major drivers expected to propel the market growth during the forecast period. In addition, technological advancements in endoscopes that can be used for early detection of diseases and rise in prevalence rate of diseases that require endoscopy devices is expected to experience lucrative growth in the market during the forecast period.
The major factor driving the growth of endoscopy devices in the market is unmet medical demands in developing countries over the upcoming years. Besides, shortage of skilled endoscopy physicians and nurses in major regions is expected to challenge the growth of the market over the upcoming years.
Moreover, the global ageing population is having a significant impact on endoscopic product demand due to lower immunity, which in turn complicates medical and treatment choices, they are more vulnerable to health issues. In healthcare settings, the use of endoscopes and visualisation technology also boosts the endoscopy devices market growth. However, possible sales losses due to product delays and additional costs incurred because of stringent approval procedures exert pressure on investments in the development of new items are the factors hampering the growth of the market during the forecast period.
Market Size
According to Business Intelligence Insights "Global Endoscopy Devices Market is expected to grow from USD 41.90 billion in 2021 to USD 73.1 billion by 2030, at a CAGR of 7.20% during the forecast period 2022-2030
Covid -19 Impact Analysis
The unanticipated outbreak of Covid 19 has had a negative influence on market growth. The concern of COVID-19 infection has hampered the expansion of the market for endoscopic devices, which has resulted in a reduction in and postponement of elective procedures. The country’s imported consumables, disposables, and capital equipment, including endoscopy devices, are negatively affected due to supply chain issues. As aerosol-generating procedures, all endoscopic procedures such as upper gastrointestinal endoscopy and endoscopic ultrasound pose a risk of transmission of SARS-CoV-2. As a result of the reduction in patient volume, rescheduling, and delaying of treatments, the number of endoscopic procedures conducted has decreased. All these factors are anticipated to impact the endoscopy devices market as well in the future. Besides, PCR testing is more expensive than endoscopy, which reduces demand for endoscopy services. However, the Indian market is expanding because of enhanced immunization campaigns and other activities.
Market Dynamics
• Drivers
o Favorable regulatory rules and many governments institutions
o Rising health standards coupled with better healthcare infrastructure
• Restraints
o High cost of endoscopy equipment
o Limited reimbursement in growing countries
Segmentation Insights
By End-use
Hospital’s category dominated the market with highest share of 48.1 % in the market
In 2021, the market for Endoscopy Devices was dominated by hospitals as a product owing to an increase in commercial and financial funding, as well as a growing preference among patients and healthcare professionals for endoscopic surgeries to be performed in hospitals. Most hospitals are well equipped with technologically advanced endoscopic facilities in the developed economies. Furthermore, Governments from many regions are increasing their investments in hospital development. This subsequently predicted to boost the demand for endoscopy devices over the upcoming years.
By Application
Gastroenterology category accounted for a revenue share of 54.7% in market
The mode of application in which Endoscopy Devices can be taken are Gastrointestinal (GI) endoscopy, Laparoscopy, Obstetrics/gynecology endoscopy, Arthroscopy, Urology endoscopy (cystoscopy), Bronchoscopy, Mediastinoscopy, Otoscopy, Laryngoscopy and Other applications. In the worldwide endoscopy devices industry, gastroenterology is the most popular application. This is majorly due to the growing popularity of frozen foods and ready-to-eat meals has had a substantial impact on nutritional intake and digestive systems. Gastric difficulties have increased because of disrupted meal cycles, particularly among people who consume more frozen and ready-to-eat foods. Endoscopic devices will be in high demand by the gastrointestinal medical line as the number of cases of gastrointestinal problems rises. and the growing geriatric population
By Product
• Endoscopes
• Endoscopy Visualization Systems
By Application
• Gastrointestinal (GI) endoscopy
• Laparoscopy
• Obstetrics/gynaecology endoscopy
• Arthroscopy
• Urology endoscopy (cystoscopy)
• Bronchoscopy
• Mediastinoscopy
• Otoscopy
• Laryngoscopy
• Other applications
By End-use
• Hospitals
• Ambulatory surgery centres
• Another end uses
By Region
• North America
o U.S.
o Canada
• Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Rest of Europe
• Asia Pacific
o China
o India
o Japan
o Rest of Asia Pacific
• Latin America
o Brazil
o Mexico
o Rest of Latin America
• Middle East and Africa
o UAE
o South Africa
o Rest of Middle East and Africa (MEA)
Key Players
List of Key Players in the Global 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. Amway
• Corp (US)
• Others
Regional Insights
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North America dominated the market with the highest revenue share of 42.3% of the market share
In both developed and emerging countries, the North America endoscopy devices market grew rapidly. The endoscopy devices market in the country is being driven by presence of well-established healthcare infrastructure, rise in measures for preventive healthcare expansion of geographical presence through product launch, product development, product approval, and acquisition. Furthermore, developments in various surgical equipment through established companies in the United States are contributing to the country's market growth.
Table
Report Attributes |
Details |
|---|---|
| Market Size Value in 2021 | USD 41.90 billion |
| Market Size Value in 2030 | USD 73.1 billion |
| Growth Rate | +7.20% |
| Base Year | 2021 |
| Forecast Period | 2021-2030 |
| Historical Data | 2018-2020 |
| Forecast Units | (USD Billion) |
| Countries Covered | North America: U.S and Canada Europe: Germany, France, Italy, U.K, Spain, Russia, Rest of Europe APAC: China, Japan, South Korea, India, Australia, South East Asia, Rest of Asia Pacific Latin America: Brazil, Mexico Middle East And Africa: Saudi Arab, South Africa, UAE |
| Segments Covered | By Product, By Application, By End User, By Region |
| Competitive landscape | Leading companies, Competitive strategies and Consumer engagement scope |
| Customization is available | If our report does not contain the information you require, you can contact our experts to have segments created for you. Please contact us at sales@businessintelligence-insights.com if you have any questions |