Number of pages: 100-120 | Report Format: PDF | Published date: 13 February, 2020
Historical Years – 2018 & 2019 | Base Year – 2020 | Forecasted Years – 2021 to 2031
Market Fundamentals
Endoscopy is a procedure that is carried out using equipment known as endoscopes. These endoscopes have a camera attached to a long thin tube. The surgeon inserts this device inside the patient's body by making a small cut or incision. Endoscopy helps the surgeon remove a small sample of the affected tissue which can be further used for testing, helps the surgeon see inside the body while performing any surgical procedure as well as can be used for determining the cause of abnormal symptoms any person is having.
Endoscopic procedures are carried out for examination of various body parts including GI tract, chest, abdomen, female reproductive tract, ears, urinary tract, nasal tract, joints of knees, among others. Endoscopy is used to detect cancerous or precancerous lesions, GERD (gastroesophageal reflux disease), ulcers of the stomach lining, Celiac disease, narrowed or partially blocked esophagus, among others.
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Market Dynamics
The global endoscopy equipment market is mainly driven by the rising prevalence of cancer, gastrointestinal diseases, other chronic diseases, and increasing preference for minimally invasive surgery compared to open surgery. Launch of technologically developed endoscopy products and increasing adoption of endoscopy in healthcare settings are also playing a pivotal role in contributing to the market growth globally. However, the higher cost of endoscopic surgeries, the dearth of skilled professionals, and lack of proper reimbursement are some of the factors hindering the market growth to a certain extent.
Market Ecosystem
The global endoscopy equipment market has been analyzed from four perspectives: Product, Application, End-User, and Region.
Endoscopy Equipment Market by Product
Based on product, the market has been segmented into endoscopes, visualization systems, other endoscopy equipment, and accessories. Endoscopes are further bifurcated into flexible endoscopes (upper gastrointestinal endoscopes, bronchoscopes, colonoscopes, laryngoscopes, pharyngoscopes, sigmoidoscopes, rhinoscopes, and other flexible endoscopes), rigid endoscopes (laparoscopes, gynecology endoscopes, arthroscopes, urology endoscopes, neuroendoscopes, cystoscopes, other rigid endoscopes), capsule endoscope and robot-assisted endoscopes. Similarly, visualization systems are further bifurcated into wireless display & monitors, camera heads, endoscopic light sources, video recorders, video converters, video processors, carts, and others. The endoscope segment held the largest market share in the year 2020. It is also expected to witness the highest CAGR during the forecast period. The highest share of the segment can be attributed to factors such as growing adoption of minimally invasive procedures, incessant technological advancements, and increased use of disposable endoscopes.
Endoscopy Equipment Market by Application
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Based on application, the market has been segmented into gastrointestinal endoscopy, laparoscopy, urology endoscopy, gynecology endoscopy, ENT endoscopy, bronchoscopy, and other applications. Gastrointestinal endoscopy held the largest market share in the year 2020 owing to factors such as the rising geriatric population and the increasing number of GI-related procedures especially an increase in bowel cancer screening using colonoscopy.
Endoscopy Equipment Market by End User
Based on end-user, the market has been segmented into hospitals, ambulatory surgical centers, and other end users. Hospitals segment held the largest market share due to increasing adoption & preference of patients for minimally invasive surgeries and preference of patients to carry out endoscopy surgeries in hospitals compared to ambulatory surgical centers/clinics, mobile endoscopy facilities, and office endoscopy service facilities.
Endoscopy Equipment Market by Region
Based on region, the global endoscopy equipment market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America dominated the endoscopy equipment market. The large share of North America in the global market can be attributed to factors such as increasing adoption of minimally invasive surgeries by patients, increasing number of endoscopy-based procedures, and rising incidences of cancer especially colorectal cancer. Presence of prominent players in the region as well as new product launches has also contributed to the growth of the market in this region.
Competitive Landscape
Some of the prominent players operating in the global endoscopy equipment market include:-
Strategic Developments
|
Report Attribute |
Details |
|
Revenue forecast in 2031 |
USD ~53.3 billion |
|
Market size value in 2020 |
USD ~27.2 billion |
|
Growth Rate |
CAGR of ~6.3% from 2021 to 2031 |
|
Base year for estimation |
2020 |
|
Forecast period |
2021-2031 |
|
Segments covered |
Product, Applications, End User |
|
Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
The global endoscopy equipment market was anticipated to clock US$ ~27.2 billion in 2020
The endoscopy equipment market is projected to reach US$ ~53.3 billion by 2031
The global endoscopy equipment market is mainly driven by the rising prevalence of cancer, gastrointestinal diseases, other chronic diseases, and increasing preference for minimally invasive surgery compared to open surgery.
Olympus Corporation, Stryker, KARL STORZ SE & Co. KG, FUJIFILM Corporation, Medical Devices Business Services, Inc, Smith+Nephew, Boston Scientific Corporation, HOYA Corporation, Avante Health Solutions, STERIS
The growth rate of endoscopy equipment market is CAGR of ~6.3% between 2021-2031
North America held the largest market share of the global endoscopy equipment market in 2020
