ROCKVILLE, Md., March 17, 2022 (GLOBE NEWSWIRE) -- The Endoscopy Operative Devices Market revenues were estimated at US$ 8.7 Bn in 2021 and is anticipated to grow at a CAGR of 5.8% from 2022-2032, according to a recently published Fact.MR report. By the end of 2032, the market is expected to reach US$ 16.2 Bn.
A growing number of patients with chronic diseases are constantly searching for less invasive procedures, which continue to improve as technology related to endoscopy equipment is advancing. The requirement for improved corrective procedures is expected to grow due to factors including a growing number of people contracting chronic diseases and the ever-increasing demand for fewer post-operative side effects.
Covid-19 had mixed impact on endoscopy operative devices market. Healthcare facilities and market actors have started to continuously invent and devise new methods for manufacturing, transportation, pre-cleaning, repair, and reprocessing in order to reverse the pandemic's detrimental impact. Increased demand for endoscopic procedures for diagnostic and therapeutic purposes is expected to provide potential growth possibilities in the coming years.
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Endoscopy Operative Devices Market Report Scope
| Attribute | Details |
| Forecast Period | 2022-2032 |
| Historical Data Available for | 2017-2021 |
| Market Analysis | US$ Bn for Value |
| Key Regions Covered | • North America • Latin America • Europe • Asia Pacific • Middle East • Africa |
| Key Market Segments Covered | • Product Type • Application • Region |
| Key Companies Profiled | • Cook Medical Inc. • Medtronic • Boston Scientific Corporation • Stryker • Ethicon Endo-Surgery, Inc. • Karl Storz • CONMED Corporation • Richard Wolf GmbH • Fujifilm Holdings Corporation • Olympus |
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Revenue of Endoscopy Operative Devices Market from 2017 to 2021 Compared to Demand Outlook for 2022 to 2032
As per the Endoscopy Operative Devices Markets research by Fact.MR - a market research and competitive intelligence provider, historically, from 2017 to 2021, market value of the Endoscopy Operative Devices Markets increased at around 5.2% CAGR.
These improvements have made it possible to move from open surgery to minimally invasive techniques with ease. Owing to this, Endoscopy Operative Devices Markets is projected to grow at a CAGR of 5.8% over the coming 10 years.
- Endoscopy Operative Devices Market was valued at US$ 8.7 Bn in 2021. According to Fact.MR, Endoscopy Operative Devices Market revenue would increase 1.8X times between 2022 and 2032, reaching roughly US$ 16.2Bn by 2032.
- In terms of Application, the sub-segment Gastrointestinal (GI) Endoscopy accounts for the highest projected growth rate of 6.3%.
- In terms of Product Type, sub segment Access Devices accounts for the highest CAGR of 5.2% during the historic period (2017-21).
- North America is the dominant region in Endoscopy Operative Devices Market with absolute dollar opportunity of US$ 2.7 Bn.
Key Takeaways from the Market Study
- Global Endoscopy Operative Devices Market is estimated to reach a market size of US$ 9.2 Bn by 2022.
- Based on product type, Access Devices are expected to be the key revenue grossing category accounting for over 35% share.
- Among applications, Gastrointestinal (GI) Endoscopy, is expected to have the largest market share as well as highest CAGR of 6.3% during the forecast period.
- The market in North America is projected to garner an absolute $ opportunity of US$ 2.8 Bn during 2022 – 2032.
- United states to remain the largest market for endoscopy operative devices with an absolute dollar growth opportunity of US$ 2.5 Bn.
These days several surgical instruments that are designed for conventional open surgeries are being adapted for endoscopic use. Some of the manufacturers of endoscopy operative devices have been working with surgeons to design instruments specifically for minimally invasive procedures. comments a Fact.MR analyst.
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Competitive Landscape
The market is fiercely competitive, Key players are increasingly focused on the development of new products and the enhancement of existing ones. Manufacturers are working on enhancing product quality in order to get a competitive advantage in the market. Key players are utilizing techniques such as technology alliances and acquisitions to extend their product line.
- In June 2019, Medtronic announced that its subsidiary, Karl Storz, had teamed up with it for the past four years to integrate Karl Storz's 3D vision technology into Medtronic's robotic surgical platform.
- In March 2019, Olympus Corporation released PowerSpiral for diagnosing and controlling gastrointestinal abnormalities with a motor device to carry the scope near the gastrointestinal mucosa and is very easy to carry.
Market Segments Covered in Endoscopy Operative Devices Market Analysis
- By Product Type :
- Energy Systems
- Access Devices
- Suction & Irrigation Systems
- Hand Instruments
- Wound Retractors
- Snares
- By Application :
- Gastrointestinal (GI) Endoscopy
- Laparoscopy
- Obstetrics/Gynaecology Endoscopy
- Arthroscopy
- Urology Endoscopy (Cystoscopy)
- Bronchoscopy
- Mediastinoscopy
- Otoscopy
- Laryngoscopy
- Other Applications
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More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the Endoscopy Operative Devices Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Endoscopy Operative Devices Market in terms of by Product Type (Energy Systems, Access Devices, Suction and Irrigation Systems, Hand Instruments, Wound Retractors, Snares), Application (GI Endoscopy, Laparoscopy, Gynaecology Endoscopy, Arthroscopy, Urology Endoscopy, Bronchoscopy, Mediastinoscopy, Otoscopy, Laryngoscopy, Other Applications) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
Key Points Covered in Endoscopy Operative Devices Market Survey:
- Market Estimates and Forecasts (2017-2032)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- COVID-19 Impact on Endoscopy Operative Devices Market and How to Navigate
- Recommendation on Key Winning Strategies
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