New York, United States , July 07, 2022 (GLOBE NEWSWIRE) -- The growing adoption of a minimally invasive approach, new technology, and more comfortable and economic option are the factors propelling the demand for endoscopy devices. The minimally invasive technique, increasing burden of chronic diseases, technological advancements, and rising geriatric population are anticipated to expand the endoscopy devices market.
Endoscopy devices are medical instruments used to detect, diagnose, and cure internal organs of the body. The system has a camera and light for easy visualization. Diseases like irritable bowel, Crohn’s disease, ulcerative colitis, stomach ulcer, tumors, infections, blockage, hiatal hernia, gastroesophageal reflux disease (GERD), etc., can be diagnosed and treated using endoscopy. Philipp Bozzini developed the first endoscopy in 1806. Recently FDA-approved endoscopy devices are EndoFresh, Boston Scientific, Activ Surgical, and UroViu.
Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/endoscopy-devices-market/request-sample
Minimal Invasive and Modern Technology to Increase Market Value of Endoscopy Devices
The need for advanced and economic techniques evolves modern technologies and development in endoscopy devices leading to increased market value. The need for low dosages of painkillers, reduced cuts and stitches, minimal post-operative care, and reduced recovery time have surged the demand for endoscopy devices. Manufacturers and suppliers are investing in the innovation of medical technology by producing new products or modifying the existing products. Collaboration, acquisition, or merging of key companies are seen to provide advanced efficient technology, leading to a boost in market growth.
The future of endoscopy devices is expected to evolve along with Artificial Intelligence (AI) and 3D imaging technology. Robotic assistance is also under research to provide efficient and quality care to patients. In April, Medtronic PLC received FDA approval for the GI Genius which is based on AI for the detection of polyps or tumors during colonoscopy. According to research, North America is expected to contribute a major part of the endoscopy devices market. According to Ambus’s Annual report, the revenue for single-use endoscopes surged from 17% to 69% from October 2020 to March 2021.
Report Scope
| Report Metric | Details |
| Market Size | USD 10.55 Billion by 2030 |
| CAGR | 6.17% (2022-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | USD Billion |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Device, Application and Geography |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | Boston Scientific Corporation, Medtronic PLC, Olympus Corporation, Johnson & Johnson, Fujifilm Holdings Corporation, Stryker Corporation |
| Key Market Opportunities | Technological Development and AI Create Wider Application |
| Key Market Drivers | Prevalence of Minimally Invasive Surgeries Advances in Technology |
Buy Now @ https://straitsresearch.com/buy-now/endoscopy-devices-market
Impact of Covid-19
Various restrictions, strict guidelines, and changes in surgical procedures were imposed during the pandemic. Another challenge was a shortage of staff, a laid-off workforce, and rehiring issues. The option for the non-surgical approach was to be arranged by the regulatory and healthcare system. Research says that there was an 83% reduction in endoscopy volumes during the pandemic. Backlogs of patients and closure of some endoscopic centers made an unavoidable approach to non-endoscopic approaches. A rise in surgeries was observed after the removal of restrictions and lockdown lift. Artificial intelligence can be anticipated to be a leading part of endoscopic techniques.
Key Insights
- The global endoscopy devices market was valued at USD 5,952.74 million in 2021, and it is expected to increase at a CAGR of 6.17%, generating revenue of USD 10,554.35 million by 2030.
- The market is categorized into endoscopes and endoscopic operative devices based on device type. Endoscopes have been observed to have the highest revenue of USD 11,543.01 billion in 2021. The global market is projected to generate USD 19,501.67 million in 2030, growing at a CAGR of 6.00%.
- In 2021, Gastroenterology by application was noted to have a revenue of USD 6,836.82 billion. It has the highest market share compared to other applications. The global market is projected to generate USD 11,599.79 million in 2030, growing at a CAGR of 6.05%.
- Geographically, the market is divided into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. North America is expected to grow at a CAGR of 6.38% during 2022–2030.
Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/endoscopy-devices-market/request-sample
List of Key Players
- Boston Scientific Corporation
- Medtronic PLC
- Olympus Corporation
- Johnson & Johnson
- Fujifilm Holdings Corporation,
- Stryker Corporation
- Karl Storz GmbH & Co. KG
- Smith & Nephew Inc.
- Richard Wolf GmbH
- Pentax Medical
- Machida Endoscope Co. Ltd
- Ambu Inc.
- NEC Corporation
- 3NT Medical Ltd
- Hoya Corporation
Global Endoscopy Devices Market: Segmentation
By Device type
- Endoscopes
- Endoscopic Operative Devices
By Application
- Pulmonology
- Gastroenterology
- Orthopedic Surgery
By Geography
- North America
- Europe
- Asia-Pacific
- South America
- The Middle East and Africa
TABLE OF CONTENT
1 Introduction
1.1 Market Definition
1.2 Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions & Exclusions
2.4 Secondary Data Sources
3 Executive Summary
4 Market Overview
4.1 Report Segmentation & Scope
4.2 Value Chain Analysis: Endoscopy Devices Market
4.2.1 Vendor Matrix
4.3 Key Market Trends
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Environment & Regulatory Landscape
4.6 Forecast Factors & Relevance of Impact
4.7 Macro-Economic & Geopolitical Scenario
4.8 Parent Market Overview
4.9 Technology Landscape
4.10 Market Share Analysis
4.11 Potential Venture Analysis
4.12 Regional Price Trends
4.13 Raw Material Trends
4.14 Cost Structure Analysis
4.14.1 Labor Cost
4.14.2 Consumables
4.14.3 Maintenance Cost
4.15 Covid-19 Impact Analysis:
4.15.1 Pre and Post Covid-19 Market Scenario Analysis
4.15.2 Market Recovery Timeline and Challenge
4.15.3 Measures Taken by Top Players
4.15.4 Quarterly Market Revenue and Growth Forecast till 2021
4.15.4.1 North America
4.15.4.2 Europe
4.15.4.3 Asia-Pacific
4.15.4.4 Central and South America and the Caribbean
4.15.4.5 The Middle East and Africa
5 Device Type Overview
5.1 Introduction
5.1.1 Market Size & Forecast (Value & Volume)
5.2 Endoscopes
5.2.1 Market Size & Forecast (Value & Volume)
5.3 Endoscopic Operative Devices
5.3.1 Market Size & Forecast (Value & Volume)
6 Application Overview
6.1 Introduction
6.1.1 Market Size & Forecast (Value & Volume)
6.2 Pulmonology
6.2.1 Market Size & Forecast (Value & Volume)
6.3 Gastroenterology
6.3.1 Market Size & Forecast (Value & Volume)
6.4 Orthopedic Surgery
6.4.1 Market Size & Forecast (Value & Volume)
7 Regional Overview
7.1 Introduction
7.1.1 Market Size & Forecast (Value & Volume)
7.2 North America
7.2.1 Economic Overview
7.2.2 Market Scenario
7.2.3 U.S.
7.2.4 Canada
7.2.5 Mexico
7.3 Central and South America and the Caribbean
7.3.1 Economic Overview
7.3.2 Market Scenario
7.3.3 Brazil
7.3.4 Argentina
7.3.5 Colombia
7.3.6 Rest of Central and South America and the Caribbean
7.4 Europe
7.4.1 Economic Overview
7.4.2 Market Scenario
7.4.3 Germany
7.4.4 France
7.4.5 The U.K.
7.4.6 Italy
7.4.7 The Rest Of Europe
7.5 Asia-Pacific (APAC)
7.5.1 Economic Overview
7.5.2 Market Scenario
7.5.3 China
7.5.4 Japan
7.5.5 India
7.5.6 Australia
7.5.7 South Korea
7.5.8 Rest Of APAC
7.6 Middle East
7.6.1 Economic Overview
7.6.2 Market Scenario
7.6.3 South Arabia
7.6.4 The UAE
7.6.5 Qatar
7.6.6 Oman
7.6.7 Turkey
7.6.8 The Rest Of Middle East
7.7 Africa
7.7.1 Economic Overview
7.7.2 Market Scenario
7.7.3 Nigeria
7.7.4 South Africa
7.7.5 The Rest Of Africa
8 Competitive Landscape — Manufacturers & Suppliers
8.1 Competition Dashboard
8.2 Industry Structure
8.3 Boston Scientific Corporation
8.3.1 Business Overview
8.3.2 Financial Performance
8.3.3 Recent Developments
8.3.4 Portfolio
8.4 Medtronic PLC
8.5 Olympus Corporation
8.6 Johnson & Johnson
8.7 Fujifilm Holdings Corporation
8.8 Stryker Corporation
8.9 Karl Storz GmbH & Co. KG
8.10 Smith & Nephew Inc.
8.11 Richard Wolf GmbH
8.12 Pentax Medical
8.13 Ambu Inc.
8.14 Hoya Corporation
8.15 NEC Corporation
8.16 3NT Medical Ltd
8.17 Machida Endoscope Co. Ltd.
9 Conclusion & Recommendation
10 Acronyms & Abbreviations
Table of Content and Figure @ https://straitsresearch.com/report/endoscopy-devices-market/toc
Market News
- In February 2022, Medtronic PLC and the American Society for Gastrointestinal Endoscopy (ASGE) announced they are working to provide colorectal cancer screening technologies in low-income and underserved communities across the United States.
- In October 2021, Fujifilm launched the first FDA cleared dual-channel endoscope for upper and lower gastrointestinal applications.
- In August 2021, Karl Storz announced a powerful upgrade to the TELE PACK+ compact endoscopy system, compatible with the StreamConnect®networking and data-management system.
- In May 2021, Boston Scientific Corporation completed the CE mark for the EXALT™ Model B single-use Bronchoscope, for bedside procedures in the intensive care unit, operating room, and bronchoscopy suite.
- In May 2021, Pentax Medical and Jiangsu Vedkang Medical Science and Technology Co., Ltd announced the establishment of a joint venture- Pentax Medical Therapeutics (Jiangsu) Co., Ltd to develop single-use therapeutics products in the field of flexible medical endoscopy
- In April 2021, Ambu Inc., has received approval from Health Canada for aScope 4 Cysto, which is a single-use endoscope; for diagnosing, managing, and treating lower urinary disorders such as incontinence, hematuria, and bladder cancer.
- In March 2021, HOYA Corporation entered a five-year contract with Hitachi Ltd for technical collaboration and supply of endoscopic ultrasound systems and ultrasound sensors.
- In January 2021, Olympus and Hitachi signed a five-year contract to jointly develop Endoscopic Ultrasound Systems.
- In January 2021, NEC Corporation announced the development of "WISE VISION Endoscopy," an artificial intelligence (AI) diagnosis-support medical device software for colonoscopies that connects with existing endoscopy equipment as part of using AI to mark potential lesions from images taken during endoscopic procedures automatically.
- In June 2020, Johnson & Johnson delivered its first 4K endoscopic imaging system in China.
- In February 2020, 3NT Medical Ltd received the FDA 510(k) clearance for its Colibri Endoscopy System, which is indicated to visualize the internal cavities of the ear, airways, nose, and sinus cavities during diagnostic and therapeutic endoscope procedures.
- In January 2020, Karl Storz SE & Co. KG received FDA’s 510(k) approval for its CMOS Video Rhino-Laryngoscope SSU, which provides visualization of nasal lumens and airway anatomy during diagnostic procedures.
Why rely on the traditional approach to study the market when you have a concise report to make your work easy?
We at Straits Research produce high-quality, authenticated, and genuine market reports with in-depth analysis to study each and every aspect of the global market.
With our reports, understand the market better through the latest versions of data presentation, unlike the conventional excel sheets and data pointers.
Study the market happenings in a more dramatic and exciting way through interactive dashboards and graphical representations, which will make you understand the market easily with approximate facts and figures.
Visit Straits Research to get a FREE Sample Report and know-how we interactively present the data, unlike the traditional sheets with immense data that makes it havoc of a task to understand.
News Media
Everything That You Need to Know About the Life Sciences Industry in 2020
Top 10 Medical Device Companies in the World
Oncology Market Potential Revenue and Future Growth with Healthy CAGR by 2029
How Boosting Advanced Imaging Could Improve Rural Health in the US?
Have a Look at the Related Research Report
Wireless Brain Sensors Market: Information by Product (Electroencephalography Devices), Therapeutic Application (Traumatic Brain Injuries), End-Users, and Region — Forecast till 2029
Diabetes Care Devices Market: Information by Monitoring Devices (Self-monitoring Blood Glucose Device), Management Devices (Insulin Syringes, Jet Injectors), and Region — Forecast till 2030
Lacrimal Devices Market: Information by Product (Intubation Sets, Dilator), Application (Glaucoma, Epiphora), End-User (Hospital, Ophthalmic Clinic), and Region — Forecast till 2029
Neurostimulation Devices Market: Information by Product (Spinal Cord Stimulator, Deep Brain Stimulator), Application (Epilepsy, Depression, Gastroparesis), and Region — Forecast till 2030
Antimicrobial Coatings Market: Information by Product (Antimicrobial Powder Coatings, Surface Modifications, and Coatings), Application (Medical Devices), and Region — Forecast till 2030
Neurosurgery Device Market: Information by Product (Neuro-Interventional Devices), Application (Spinal Cord Stimulation), End-User (Hospitals, Clinics), and Region — Forecast till 2029
About Straits Research Pvt. Ltd.
StraitsResearch is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.
Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client’s purchase. We overcome our clients’ issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.
For more information on your target market, please contact us below:
Phone: +1 646 480 7505 (the U.S.)
+91 8087085354 (APAC)
+44 208 068 9665 (the U.K.)
Email: sales@straitsresearch.com
Follow Us: LinkedIn | Facebook | Instagram | Twitter
