The global endoscopy equipment market is experiencing substantial growth due to many driving factors, including surging requirement for endoscopy to diagnose and treat target diseases, increasing investments, funds, and grants by governments and other organizations worldwide, growing focus of hospitals to invest in technology advanced endoscopy instruments and expand endoscopy units, ongoing advancements in endoscopic technologies to ensure patient safety and achieve more accurate treatments, rising incidence of IBD and CRC that require endoscopy procedures. Drivers such as Increasing preference for minimally invasive surgeries, adoption of single-use endoscopy instruments to prevent infectious diseases and offer increased efficiency and safety, and rising focus of medical specialities to shift from manual to automated endoscopy reprocessing are also contributing towards the overall growth of the global endoscopy equipment market.
Endoscopy Equipment market in terms of revenue was estimated to be worth $32.3 billion in 2024 and is poised to reach $46.2 billion by 2029, growing at a CAGR of 7.4% from 2024 to 2029
“Based on product, the endoscopes segment is expected to account for the largest share of the endoscopy equipment market.”
In the forecast period, the endoscopes segment dominated the global endoscopy equipment market. This significant share can be credited to the increasing favoritism of minimally invasive procedures by both patients and healthcare professionals, along with the elevated uptake of such equipment by end users. Moreover, continuous advancements in endoscopy technologies contribute to the segment's substantial presence in the market.
“On the basis of application, obstetrics/gynaecology endoscopy segment the endoscopy equipment market has accounted the third largest share in the forecast period.”
Based on application, the obstetrics/gynecology endoscopy segment of the endoscopy equipment market accounted the third largest market share in the forecast period. This growth subjected to the rising incidence of gynaecological conditions like endometriosis, uterine fibroids. Technological improvements in visualization systems and endoscopes, accessories tools like grasping tools are driving the growth of the gynecology endoscopy segment as well.
“Based of end user, ambulatory surgery centers/clinics segment holds the second-highest market share in the endoscopy equipment market”
Ambulatory surgery centers/clinics secure the second-largest market share in the endoscopy equipment market. This largest share comes from the increasing trend towards outpatient procedures due to their convenience and cost-effectiveness. Additionally, the rising demand for minimally invasive surgeries in these settings drives the adoption of advanced endoscopy equipment. As ambulatory surgery centers continue to grow in popularity, the demand for endoscopy equipment in these facilities is expected to witness steady growth in the foreseeable future.
“Based on Region, Europe to possess the second largest market share in the endoscopy equipment market during the forecast period”
Europe to possess the second largest market share in the endoscopy equipment market in the forecast period due to its rising investments towards medical technology, high adoption rates of advanced medical technologies, and increasing prevalence of gastrointestinal diseases. These factors drive demand for endoscopy equipment, positioning Europe as one of the leading market region.
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Key Market Players:
Prominent players in the endoscopy equipment market include Olympus Corporation (Japan), KARL STORZ SE & Co. KG (Germany), Boston Scientific Corporation (US), JOHNSON & JOHNSON (US), Stryker Corporation (US), Medtronic, plc (Ireland), Fujifilm Holdings Corporation (Japan), HOYA Corporation (Japan), Nipro Corporation (Japan), Smith & Nephew plc (UK), Intuitive Surgical, Inc. (US)
Endoscopy Equipment Market Dynamics:
Drivers:
1. Growing focus of hospitals to invest in technologically advanced endoscopy instruments and expand endoscopy units
Restraints:
1. High overhead costs of endoscopy procedures with limited reimbursement in developing countries
Opportunities:
1. Booming healthcare sector in developing economies
Challenge:
1. Shortage of trained physicians and endoscopicts
Key Market Stakeholders:
· Manufacturing companies of endoscopes and related devices
· Suppliers and distributors of endoscopy devices
· Hospitals, diagnostic centers, and medical colleges
· Independent surgeons and private offices of physicians
· Ambulatory surgery centers
· Teaching hospitals and academic medical centers
Report Objectives:
· To describe, analyze, and forecast the endoscopy equipment market, by product, application, end user, and region
· To describe and forecast the endoscopy equipment market for key regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa
· To provide detailed information regarding drivers, restraints, opportunities, and challenges influencing the market growth
· To strategically analyze the ecosystem, regulations, patent landscape, trade landscape, and case studies pertaining to the market under study
· To provide a detailed overview of the supply chain pertaining to the endoscopy equipment market, along with the average selling price of different types of endoscopy equipment
· To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market
· To analyze market opportunities for stakeholders and provide details of the competitive landscape for market players.
· To profile key players and comprehensively analyze their market shares and core competencies2 in the endoscopy equipment market
· To analyze competitive developments such as partnerships, collaborations, alliances & acquisitions, product launches, expansions, and R&D activities in the endoscopy equipment market.
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Content Source:
https://www.marketsandmarkets.com/PressReleases/endoscopy.asp
https://www.marketsandmarkets.com/ResearchInsight/endoscopy-devices-market.asp
