Hyderabad, July 04, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Endoscopy Devices Market Report (2023-2028)," the market is estimated at USD 35.31 billion in 2023. It is expected to register a CAGR of 6.56% during the forecast period.
The global healthcare sector is witnessing a rising prevalence of various chronic diseases, which calls for the increased adoption of advanced endoscopy devices. These devices are crucial in the treatment and diagnosis of several conditions. To meet the market demands, manufacturers in the endoscopy equipment market are focusing more on developing innovative devices.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 35.31 billion |
| Market Size (2028) | USD 48.51 billion |
| CAGR (2023-2028) | 6.56% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Increasing prevalence of chronic diseases. |
| Growing adoption of minimally invasive surgeries. |
Who are the Top Companies in the Global Endoscopy Devices Market?
There are several companies vying for more endoscopy market share in the global space, with a moderate level of competition. The firms are trying to create clear differentiation in their devices based on their application.
The notable players in the global endoscopy devices market in 2023 are:
- Boston Scientific Corporation
- Conmed Corporation
- Cook Group Incorporated
- Richard Wolf GmbH
- Johnson & Johnson
- Fujifilm Holdings Corporation
- Medtronic PLC
- Olympus Corporation
- Karl Storz SE & Co. KG
- Stryker Corporation
- Hoya Corporation
- Smith & Nephew PLC
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Key Highlights from the Global Endoscopy Devices Market Report:
Better Projected Growth Prospects in the Flexible Endoscope Segment
- Flexible endoscope devices are equipped with flexible transparent fibers that transmit light and carry images back to the observer. It offers several advantages compared to other devices, and thus, their adoption is increasing.
- Players in the endoscopy equipment market are focusing more on launching such flexible devices. With faster approval rates, the segment is poised to witness growth in the coming years.
High Growth Rates Expected in North America
The endoscopy devices market is projected to witness higher growth rates compared to other regions due to several reasons.
- The high burden of diseases, such as cardiovascular diseases and cancers, in the region.
- Increasing adoption of minimally invasive surgeries.
- Fast-paced technological innovations, approvals, and product launches.
- Significant partnerships by market players.
What are the Latest Developments in the Global Endoscopy Devices Market?
- In January 2023, AA Medical entered into a partnership with Certified Endoscopy Products to form a preeminent medical device reprocessing company serving the endoscopy, orthopedic, and other surgical device markets.
- In August 2022, Medtronic launched GI Genius, an AI endoscopy module for treating colorectal cancer in India.
Mordor Intelligence has Segmented the Global Endoscopy Devices Market based on Type of Device, Application, and Geography.
- Type of Device (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Endoscopes
- Rigid Endoscope
- Flexible Endoscope
- Capsule Endoscope
- Robot-assisted Endoscope
- Endoscopic Operative Device
- Irrigation/Suction System
- Access Device
- Wound Protector
- Insufflation Device
- Operative Manual Instrument
- Other Endoscopic Operative Devices
- Visualization Equipment
- Endoscopic Camera
- SD Visualization System
- HD Visualization System
- Endoscopes
- Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Gastroenterology
- Pulmonology
- Orthopedic Surgery
- Cardiology
- ENT Surgery
- Gynecology
- Neurology
- Other Applications
- Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Argentina
- Rest of South America
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Endoscopy Devices Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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