Endoscopy Devices Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Product (Endoscopes, Endoscopy Visualization Systems, Endoscopy Visualization Components, Operative Devices), By Application (Gastrointestinal (Gi) Endoscopy, Laparoscopy, Obstetrics/Gynecology Endoscopy, Arthroscopy, Urology Endoscopy, Bronchoscopy, Mediastinoscopy, Otoscopy, Laryngoscopy, Other Application), By End-use (Hospitals, Ambulatory Surgery Centers, Other End-uses), By Region, and Competition Forecast

Market Overview

Global Endoscopy Devices Market has valued at USD 29.14 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 5.67% through 2028. An endoscopy device is a crucial medical instrument used for diagnostic and therapeutic purposes within the field of gastroenterology and various other medical specialties. It allows medical professionals to visualize and access the internal structures of the human body, primarily the gastrointestinal tract, without the need for invasive surgeries. The applications of endoscopy devices are extensive and include both diagnostic and therapeutic procedures. Diagnostic endoscopy aids in identifying various gastrointestinal disorders, such as ulcers, inflammation, tumors, and polyps. Furthermore, the device can be employed to collect tissue samples (biopsies) for further examination, providing valuable insights into the nature of the condition. As technology advances, endoscopy devices have seen significant improvements in terms of image quality, maneuverability, and additional features such as the ability to perform advanced imaging techniques like fluorescence and confocal microscopy. These innovations enhance the precision and accuracy of diagnoses and treatments.

Key Market Drivers

Growing minimally invasive procedures

Minimally invasive procedures involve smaller incisions or natural orifices for instrument insertion, resulting in reduced trauma to surrounding tissues. This leads to less post-operative pain, shorter recovery times, and smaller scars compared to open surgeries. The appeal of less discomfort and a quicker return to normal activities encourages patients to opt for procedures that utilize endoscopy devices. Minimally invasive procedures are associated with lower rates of complications such as infections, bleeding, and wound-related issues. This improved safety profile is particularly attractive to patients, as it reduces the potential risks associated with surgical interventions. Patients are increasingly seeking out minimally invasive options due to the perceived benefits and the desire to avoid more invasive procedures. This growing demand from patients directly influences healthcare providers' decisions to invest in endoscopy devices to meet these preferences. According to the American Cancer Society 2023 report, an estimated 26,380 new cases of stomach cancer were diagnosed in the United States in 2022, and 26,500 new stomach cancer are estimated to be diagnosed in 2023. Thus, these chronic diseases' high incidence and prevalence lead to a surge in demand for flexible endoscopes.

Growing prevalence of chronic diseases

The growing prevalence of chronic diseases has a profound influence on the growth of the global endoscopy device market. Chronic diseases, which often require ongoing management, diagnosis, and treatment, contribute significantly to the demand for advanced medical technologies like endoscopy devices. Many chronic diseases, such as gastrointestinal disorders, cancer, and cardiovascular conditions, require early detection and continuous monitoring for effective management. Endoscopy devices provide healthcare professionals with a direct visual assessment of the affected areas, enabling accurate diagnosis and timely intervention. Chronic diseases often necessitate repeated interventions or treatments. Endoscopy devices assist in guiding these interventions, ensuring that treatments are targeted and focused on the specific areas of concern. This precision contributes to improved patient outcomes. The demand for accurate and minimally invasive diagnostics and treatments for chronic diseases has driven ongoing advancements in endoscopy technology. High-definition imaging, advanced imaging modalities, and improved maneuverability cater to the specific requirements of chronic disease management. For instance, as per the report published by Cancer Research U.K., each year there are about 10,300 new cases of bladder cancer in the U.K. and it is the 11th most common cancer in the U.K. Since cystoscopy is the main diagnostic procedure for bladder cancer, it is anticipated to fuel the segment growth over the forecast years.

Increasing advancement in technology

Advancements in technology have played a pivotal role in driving the growth of the global endoscopy device market. These technological innovations have transformed the capabilities of endoscopy devices, making them more precise, efficient, and adaptable to a wide range of medical applications. High-definition cameras and advanced optics have improved the clarity and resolution of images captured by endoscopy devices. This allows healthcare professionals to visualize intricate details of internal structures, aiding accurate diagnoses and precise treatment planning. Technological advancements have led to brighter and more uniform lighting in endoscopy devices. This ensures better visibility and contrast during procedures, enabling healthcare providers to identify abnormalities with greater accuracy. Robotic-assisted endoscopy devices offer increased precision and stability, allowing healthcare providers to perform complex procedures with greater accuracy. Automation features can also simplify certain tasks, reducing the burden on medical professionals. Three-dimensional visualization technologies enhance depth perception and spatial awareness during endoscopic procedures. This is particularly valuable in complex interventions where precise navigation is essential. Technological advancements have led to the development of wireless and portable endoscopy devices, increasing their accessibility and usability in various healthcare settings. In June 2021, Smith & Nephew Plc (UK) launched a robot-assisted endoscope, Real Intelligence Suite of enabling technological solutions, including the CORI Surgical System and next-generation robotics platform.

Expanding applications in various medical specialties

The expanding applications of endoscopy devices in various medical specialties have had a profound impact on the growth of the global endoscopy device market. The versatility of these devices and their ability to address a wide range of medical conditions have led to increased adoption across different specialties. By branching out into different medical specialties such as urology, gynecology, pulmonology, orthopedics, and ENT (ear, nose, and throat), endoscopy devices have widened their potential customer base. This diversification translates to increased market demand and growth opportunities. The use of endoscopy devices in multiple specialties enables comprehensive patient care. Healthcare providers can offer a range of diagnostic and therapeutic options without the need for invasive surgeries, enhancing patient satisfaction and outcomes. The availability of endoscopy devices in various specialties helps manufacturers penetrate different segments of the healthcare market, leading to increased sales and revenue opportunities.

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Key Market Challenges

High Cost of Endoscopy Device

The high cost of endoscopy devices can significantly hinder the growth of the global endoscopy devices market by creating barriers to adoption, limiting accessibility, and impacting healthcare budgets. The cost-related challenges contribute to slower market penetration and adoption rates. The upfront investment required to purchase advanced endoscopy devices can place a substantial financial burden on healthcare facilities, including hospitals, clinics, and medical centers. Limited budgets may lead to reluctance in acquiring new devices, even if they offer clinical benefits. Healthcare facilities often pass on the costs of medical equipment to patients through higher procedure charges. As the cost of endoscopy devices rises, patients may face increased healthcare expenses, potentially affecting their willingness to undergo necessary procedures. Many developing countries struggle with limited healthcare budgets. The high cost of endoscopy devices can deter these nations from investing in advanced medical technologies, leading to disparities in patient care. Manufacturers may hesitate to invest in research and development due to concerns about recouping high development costs in a price-sensitive market. This could slow down innovation and delay the introduction of improved devices. The high cost of endoscopy devices can potentially lead to a situation where only well-funded healthcare facilities or those in affluent areas can afford them. This could contribute to unequal access to advanced medical care. The slow adoption of high-cost endoscopy devices can delay the integration of new technologies into medical practice, potentially compromising patient outcomes and safety.

Regulatory compliance and approvals

Regulatory compliance and approvals can significantly hinder the growth of the global endoscopy device market by introducing complexities, delays, and additional costs to the development and commercialization process. While regulations are essential for ensuring patient safety and device efficacy, navigating the regulatory landscape can pose challenges that impact market growth. Obtaining regulatory approvals from various health authorities, such as the FDA (U.S. Food and Drug Administration) in the United States or the CE mark in Europe, can be a lengthy process. This delays the introduction of new endoscopy devices to the market, affecting manufacturers' ability to respond to evolving medical needs. Meeting regulatory requirements demands substantial resources, including time, personnel, and financial investments. Manufacturers need to allocate significant budgets and manpower to ensure compliance, potentially affecting their ability to invest in research and development. Regulatory non-compliance can result in penalties, recalls, or even bans on device sales. The potential financial and reputational risks can discourage manufacturers from introducing new endoscopy devices to the market. The stringent requirements of regulatory bodies might stifle innovation, as manufacturers may prioritize meeting existing regulations over developing cutting-edge technologies. This can slow down the introduction of novel features and improvements. Regulatory compliance often entails conducting clinical trials to demonstrate device safety and efficacy. These trials can be expensive and time-consuming, especially for complex medical devices like endoscopy equipment. The need for regulatory approvals for even minor changes to devices can slow down the process of iterating and improving existing products. Manufacturers may be hesitant to make necessary updates due to the associated regulatory burden. Obtaining regulatory approvals in different countries is crucial for global market access. Inconsistencies or delays in approvals can impact manufacturers' ability to enter and expand into international markets.

Key Market Trends

Advanced Imaging Modalities

Advanced imaging technologies, such as virtual chromoendoscopy and fluorescence imaging, allow healthcare professionals to visualize abnormalities and subtle tissue changes that might be missed with conventional imaging. This accuracy leads to more precise and timely diagnoses, influencing healthcare providers to adopt endoscopy devices equipped with these modalities. Clearer imaging helps in the early detection of conditions like cancer, inflammatory diseases, and polyps. Detecting these conditions at an early stage can lead to more effective treatments and improved patient outcomes, driving the demand for advanced endoscopy devices. 3D visualization and high-definition imaging provide healthcare professionals with a better understanding of complex anatomical structures. This aids in surgical planning, navigation through intricate passages, and more accurate assessments of lesions or abnormalities. Advanced imaging allows for more precise targeting of interventions. Healthcare providers can tailor treatment plans based on real-time visual feedback, leading to personalized and effective therapies. The availability of advanced imaging modalities broadens the range of applications for endoscopy devices. For example, fluorescence imaging can be used to assess blood flow in tissues, guide tissue biopsy, and monitor healing processes, thereby expanding the device's utility across various medical specialties.

Robotics and Robotic-Assisted Endoscopy

Robotic systems offer higher levels of precision and stability compared to manual manipulation. This improved accuracy is particularly important in delicate procedures where precision is critical, such as tissue biopsy, tumor removal, or complex interventions. Robotics technology enhances the potential for minimally invasive procedures. Smaller incisions, reduced tissue trauma, and enhanced visualization contribute to less post-operative pain, quicker recovery times, and improved patient outcomes. Robotic systems can access difficult-to-reach or anatomically constrained areas more easily. This is particularly relevant in specialties like neurosurgery, where precise navigation is essential. Robotic-assisted procedures can reduce the physical strain on surgeons during lengthy procedures. This contributes to sustained performance and reduced surgeon fatigue, potentially leading to better patient outcomes. Manufacturers incorporating robotics into their endoscopy devices gain a competitive edge by offering innovative solutions. The ability to perform advanced procedures and provide better patient outcomes enhances their market position. The prospect of robotic-assisted procedures can attract patients seeking cutting-edge treatments and minimally invasive options. Healthcare providers offering these procedures can leverage this appeal to expand their patient base. Despite higher upfront costs, robotic-assisted procedures can lead to cost savings in the long term due to reduced hospital stays, complications, and the need for subsequent interventions.

Segmental Insights

Product Type Insights

Based on the product, the endoscopes segment is anticipated to witness substantial market growth throughout the forecast period. This growth can be attributed to multiple factors, such as progressing preference due to better ergonomics, safety, and efficacy over Rigid Endoscopes. The improved focus of manufacturers on offering training for optimal use of excellent Flexible Endoscopes is further expected to positively impact the market growth. Endoscope segmentation enables manufacturers to optimize devices for specific applications. This customization ensures that endoscopes meet the technical and clinical needs of each specialty. The availability of specialized endoscopes in various medical fields opens up opportunities for market expansion. As endoscopy devices gain adoption across different specialties, the overall market grows.

Application Insights

Based on the application segment, the Gastroenterology segment has been the dominant force in the market an increase in factors such as the overall geriatric population, predominance of urinary disorders, and the number of ureteroscopic interventions performed has further heightened the demand for these endoscopy devices. In addition, the installation of advanced endoscopic techniques in urology, such as robot-assisted endoscopes or disposable endoscopes, is amongst the top supporting factors driving the market. Gastroenterology-specific endoscopy devices address the unique diagnostic and therapeutic requirements of the GI tract. These devices enable healthcare professionals to visualize, diagnose, and treat conditions such as gastritis, ulcers, polyps, inflammatory bowel disease (IBD), and colorectal cancer. Capsule endoscopy, which involves swallowing a small camera capsule to capture images of the entire GI tract, is a valuable tool for diagnosing conditions like Crohn's disease and small bowel tumors.

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Regional Insights

North America, specifically the Endoscopy Devices Market, dominated the market in 2022, primarily due to North America, particularly the United States and Canada, possesses highly advanced and well-developed healthcare infrastructure. This includes state-of-the-art medical facilities, well-equipped hospitals, and specialized clinics, providing a conducive environment for the adoption of advanced medical technologies like endoscopy devices. The region is a global hub for medical research, innovation, and development. Renowned research institutions, universities, and medical device manufacturers are situated in North America, leading to the creation of cutting-edge endoscopy technologies that attract attention and investment worldwide. North America has robust regulatory agencies such as the U.S. Food and Drug Administration (FDA), which ensures the safety and efficacy of medical devices, including endoscopy devices. This regulatory assurance instills confidence in healthcare professionals and patients, encouraging adoption. The preference for minimally invasive procedures aligns well with the benefits offered by endoscopy devices. North America's focus on patient comfort, reduced recovery times, and decreased invasiveness has driven the adoption of these devices. Collaborations between healthcare professionals, research institutions, and medical device manufacturers foster the development and adoption of advanced medical technologies like endoscopy devices. The region's active clinical research landscape provides opportunities for manufacturers to conduct trials, gather evidence of device efficacy and safety, and accelerate regulatory approvals.

Recent Developments

• In September 2020, PENTAX Medical announced to launch new Ultrasound Video Gastroscopes J10 Series in the U.S. These advanced gastroscopes enable better image quality, increase diagnostic capabilities, and help in effective disease management of the patient.
• In November 2021, FUJIFILM Healthcare launched the dual-channel endoscope to be cleared by the United States Food and Drug Administration for upper and lower gastrointestinal applications.
• In August 2021, Boston Scientific received FDA approval for the EXALT Model B Single-Use Bronchoscope. EXALT Model B Single-Use Bronchoscope is the latest evolution in flexible bronchoscopy. It is developed for use in ICU and built to help keep airways clear during complex respiratory procedures like double-lumen tube placements.

Key Market Players

• Olympus Corporation.
• Ethicon Endo-Surgery, LLC.
• Stryker Corporation.
• Fujifilm Holdings Corporation.
• Boston Scientific Corporation.
• Karl Storz GmbH & Co. KG.
• Smith & Nephew Inc.
• Richard Wolf GmbH.
• Medtronic Plc.
• PENTAX Medical.
• Machida Endoscope Co., Ltd.

Report Scope:

In this report, the Global Endoscopy Devices Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

            ·         Endoscopy Devices Market, By Product:

o   Endoscopes

o   Endoscopy Visualization Systems

o   Endoscopy Visualization Components

o   Operative Devices

            ·         Endoscopy Devices Market, By Application:

o   Gastrointestinal (Gi) Endoscopy

o   Laparoscopy

o   Obstetrics/Gynecology Endoscopy

o   Arthroscopy

o   Urology Endoscopy

o   Bronchoscopy

o   Mediastinoscopy

o   Otoscopy

o   Laryngoscopy

o   Other Application

            ·         Endoscopy Devices Market, By End Use:

o   Hospitals

o   Ambulatory Surgery Centers

o   Other End-uses

            ·         Endoscopy Devices Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Kuwait

§  Turkey

§  Egypt

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Endoscopy Devices Market.

Available Customizations:

Global Endoscopy Devices market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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