Endoscopy Devices Market Size to Reach USD 68.65 Billion by 2030, Says The Brainy Insights

The high incidence of obesity, the rising geriatric population, and the increasing number of chronic ailments are stimulating endoscopy devices market growth. North America region emerged as the largest market for the global endoscopy devices market, with a 49.37% share of the market revenue in 2022.


Newark, Oct. 28, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global endoscopy devices market is expected to grow from USD 38.21 billion in 2022 to USD 68.65 billion by 2030, at a CAGR of 7.60% during the forecast period 2022-2030.

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The growing prevalence of diseases that need endoscopy procedures, like cancers and gastrointestinal disorders, is anticipated to expand the endoscopy devices industry demand during the projection period. Moreover, the extended support & coverage for endoscopic screening and care, the increasing incidence of chronic diseases, and the improving healthcare infrastructure in developing countries are also helping to propel market growth. However, the lack of awareness, low adoption of disposable endoscopes in diagnostic and hospital centers, and high cost of sophisticated endoscopy devices are restraining the market growth. Furthermore, a strong pipeline of endoscopy device products is an opportunity for market growth.

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Competitive Strategy

To enhance their market position in the global endoscopy devices market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.

• For example, in November 2020, Olympus Company introduced two devices procedure kits and hybrid tubing. These instruments are launched to reduce procedural time and contamination.

Market Growth & Trends

The growth of the endoscopy devices market is driven by the increasing geriatric population across the globe, the growing chronic disease burden, and favorable reimbursement policies. Moreover, the rising demand for advanced technology is the market growth trend. Further, the increasing demand for advanced & economic procedures encourages newer technologies, and development in endoscopy devices also propels market growth. Endoscopic technique has evolved into various approaches such as colonoscopy, esophagogastroduodenoscopy, endoscopic retrograde cholangiopancreatography, flexible sigmoidoscopy, and advanced imaging technology, including wireless capsule endoscopy, endoscopic ultrasonography, and double-balloon enterostomy. In addition, the high availability of government, increasing FDA approvals for endoscopic devices, and the increasing adoption of endoscopes for treatment & diagnosis is the driving factor of the market growth. Further, the rising number of product launches among market players, quicker recovery of surgeries related to endoscopy devices, and rising expenditure on R&D activities for improving technologies propel the market growth during the forecast period.

Key Findings

• In 2022, the gastrointestinal endoscopy segment dominated the market with the largest market share of 22.13% and market revenue of 8.45 billion.

The application segment is divided into laparoscopy, gastrointestinal endoscopy, obstetrics/ gynecology endoscopy, bronchoscopy, arthroscopy, mediastinoscopy, urology endoscopy (cystoscopy), ENT endoscopy, and others. In 2022, the gastrointestinal endoscopy segment dominated the market with the largest market share of 22.13% and a revenue of 8.45 billion. This growth is attributed to the upsurge in adopting disposable gastrointestinal endoscopes.

• In 2022, the endoscope segment dominated the market with the largest market share of 31.12% and market revenue of 11.89 billion.

The product segment is divided into visualization systems, endoscopes, accessories, and other endoscope equipment. In 2022, the endoscope segment dominated the market with the largest market share of 31.12% and market revenue of 11.89 billion. This growth is attributed to the advantages such as flexibility, low cost, real-time monitoring, easy procedure, and low risk compared to surgeries.

• In 2022, the hospital segment dominated the market with the largest market share of 43.16% and market revenue of 16.49 billion.

The end-user segment is divided into ambulatory surgery centers/clinics, hospitals, and others. In 2022, the hospital segment dominated the market with the largest market share of 43.16% and market revenue of 16.49 billion. This growth is attributed to the greater availability of skilled healthcare professionals and technologically advanced facilities. In addition, physicians prefer to perform endoscopy in a hospital-based environment due to the emergence of any complications during an endoscopic procedure.

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Regional Segment Analysis of the Endoscopy Devices Market:

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

The North American region occurred as the largest market for the global endoscopy devices industry, with a market share of 49.37% and a market value of around 18.86 billion in 2022. North America dominates the endoscopy devices market due to the increasing geriatric population. Moreover, the intense focus on research activities to improve endoscopy techniques, the rising government funding for healthcare growth, and the growing gastrointestinal disease prevalence are also boosting the market growth in this region. Also, the high adoption rate of technologically advanced endoscopy devices and the ever-increasing population with a higher prevalence of GI illnesses are helping to propel the market growth in this region. Further, the Asia Pacific region is expected to show the fastest CAGR of 9.07% over the projection period. This growth is attributed to the growing demand for capsule endoscopy. Also, the presence of a large patient population pool suffering from functional gastrointestinal diseases, strong economic growth, and the growing economies of India & China are driving factors of the market growth in this region during the forecast period.

Key players operating in the global endoscopy devices market are:

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

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global endoscopy devices market based on below mentioned segments:

Global Endoscopy devices Market by Application:

• Laparoscopy
• Gastrointestinal Endoscopy
• Obstetrics/ Gynecology Endoscopy
• Bronchoscopy
• Arthroscopy
• Mediastinoscopy
• Urology Endoscopy (Cystoscopy)
• Ent Endoscopy
• Others

Global Endoscopy devices Market by Product:

• Visualization System
• Endoscope
• Accessories
• Other Endoscope Equipment

Global Endoscopy devices Market by End-User:

• Ambulatory Surgery centers/Clinics
• Hospitals
• Others

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About the report:

The global endoscopy devices market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.

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