Report Overview

According to the deep-dive market assessment study by Growth Plus Reports, the global endoscopy equipment market was valued at US$ 44.95 billion in 2022 and is expected to register a revenue CAGR of 7.61% to reach US$ 86.98 billion by 2031.

Endoscopy Equipment Market Fundamentals                                                    

Endoscopy equipment refers to a variety of medical instruments and devices used for performing endoscopic procedures. Endoscopy is a minimally invasive medical procedure that allows doctors to examine the interior of the body using an endoscope, a flexible tube with a light and camera attached to it. This procedure helps in diagnosing and treating various conditions by providing visual access to internal organs, tissues, and cavities. Endoscope, camera system, monitor or screen, insufflator, biopsy forceps, endoscopic ultrasound (EUS) equipment, and endoscopic accessories are some of the endoscopy equipment.

Endoscopy Equipment Market Dynamics

Gastrointestinal disorders, such as colorectal cancer, gastroesophageal reflux disease (GERD), and inflammatory bowel disease (IBD), are on the rise globally. The gastrointestinal stromal tumor is the most common mesenchymal neoplasm of the gastrointestinal (GI) tract, accounting for 80% of all GI sarcomas and 0.1 to 3% of all GI malignancies and affecting 1.1 people per 100,000 worldwide each year, according to the National Centre for Biotechnology Information. Additionally, significant advancements in endoscopic imaging, including high-definition (HD) and ultra-high-definition (UHD) cameras, improved optics, and digital image processing, have greatly enhanced the diagnostic capabilities of endoscopy. These technological advancements improve visualization, increase accuracy, and enable better detection and diagnosis of diseases, thereby driving the adoption of endoscopy equipment. The increasing preference for minimally invasive procedures by patients and healthcare providers is driving the demand for endoscopy equipment.  The aging population is a significant driver for the endoscopy equipment market. The elderly is more susceptible to gastrointestinal diseases, cancers, and other age-related conditions that require diagnostic and therapeutic endoscopic procedures. As the global geriatric population continues to grow, the demand for endoscopy equipment is expected to increase. Increasing awareness about the importance of early disease detection and screening programs for various conditions, such as colorectal cancer, has led to an increased demand for endoscopic procedures. For instance, according to the WHO report, in 2020, nearly 2 million cases of colorectal cancer were diagnosed. It is the second most common cause of cancer death, leading to almost 1 million deaths per year. Governments and healthcare organizations are implementing screening programs, which require the use of endoscopy equipment, further driving market growth. Endoscopy is being used in an expanding range of medical specialties beyond gastroenterology, including urology, pulmonology, gynecology, and otolaryngology. According to the GLOBOCAN 2020 report, it was recorded that there were 1,089,103 stomach cancer cases that were diagnosed with a mortality rate of 768,793. The versatility of endoscopy equipment and its ability to provide direct visualization and targeted interventions contribute to its growing application in various medical fields. Emerging markets, particularly in Asia-Pacific and Latin America, are experiencing significant healthcare infrastructure and investment growth. Moreover, favorable reimbursement policies for endoscopic procedures provided by healthcare systems and insurance companies play a crucial role in driving the market growth. Adequate reimbursement coverage encourages healthcare providers to invest in advanced endoscopy equipment and offer endoscopic procedures to a broader patient population.

Performing endoscopic procedures requires specialized training and expertise. There is a shortage of skilled healthcare professionals, such as endoscopists and endoscopy nurses, in many regions. The limited availability of trained professionals can restrict the adoption and utilization of endoscopy equipment, particularly in areas with a high patient demand. Rural and remote areas may face challenges in accessing specialized healthcare services, including endoscopic procedures. The lack of infrastructure, including healthcare facilities and trained personnel, can limit the availability of endoscopy equipment and services in these regions. Endoscopic instruments and accessories must be properly cleaned, disinfected, and sterilized to prevent infections and ensure patient safety. Inadequate sterilization practices or lapses in infection control can lead to the transmission of infectious agents. Maintaining strict infection control protocols can be challenging, especially in busy clinical settings, and may require significant time, resources, and staff training.

Endoscopy Equipment Market Ecosystem

The global endoscopy equipment market has been analyzed from the following perspectives: by device types, application, end user, and region.

Endoscopy Equipment Market by Device Type

Based on the device type, the global endoscopy equipment market is segmented into endoscopes, endoscopic operative devices, and visualization equipment. 

The visualization equipment segment accounts for the largest revenue share of more than 37.04%. Improved visualization enhances the ability of healthcare professionals to detect abnormalities, diagnose diseases, and guide treatment decisions, leading to better patient outcomes. Minimally invasive procedures are becoming increasingly preferred by patients and healthcare providers due to their benefits, including reduced patient trauma, shorter hospital stays, faster recovery, and lower healthcare costs. The ability to perform effective and precise visualization drives the demand for endoscopy equipment in various medical specialties. The versatility of endoscopy equipment and its ability to visualize different anatomical areas and systems make it a vital tool for diagnosing and treating a broad range of conditions. This wide application range contributes to the dominance of the endoscopy visualization segment in the market. Gastrointestinal disorders, such as colorectal cancer, gastroesophageal reflux disease (GERD), and inflammatory bowel disease (IBD), are on the rise globally.

Additionally, continuous innovation and technological advancements in endoscopy visualization systems have improved image quality, clarity, and resolution. High-definition and UHD cameras, along with digital image processing, provide more detailed and accurate visual information to healthcare professionals. These technological advancements have significantly contributed to the dominance of the endoscopy visualization segment in the market. The reimbursement landscape for endoscopic procedures, particularly those supported by advanced visualization, has been favorable in many healthcare systems. Adequate reimbursement coverage for endoscopy procedures encourages healthcare providers to invest in advanced visualization equipment and offer these procedures to a broader patient population. Reimbursement support further drives the demand for endoscopy visualization systems in the market.

Endoscopy Equipment Market by Application

Based on the application, the global endoscopy equipment market is segmented into orthopedic surgery, cardiology, ENT surgery, gynecology, neurology, gastroenterology, and pulmonology. 

Gastroenterology dominates the segment with the largest revenue share of more than 56.2%. Gastroenterology focuses on diagnosing and treating disorders affecting the digestive system, including the esophagus, stomach, intestines, liver, gallbladder, and pancreas. For instance, according to the FIRS Global Impact of Respiratory Disease report, COPD affects approximately 200 million people, with 3.2 million dying yearly, making it the third-leading cause of mortality worldwide Gastrointestinal diseases, such as colorectal cancer, gastroesophageal reflux disease (GERD), inflammatory bowel disease (IBD), and peptic ulcers, have a high prevalence worldwide. Endoscopy is a key diagnostic and therapeutic tool in gastroenterology, enabling direct visualization of the gastrointestinal tract. The high prevalence of gastrointestinal disorders drives the demand for endoscopy equipment in this segment. Endoscopy allows gastroenterologists to directly visualize the gastrointestinal tract and perform various diagnostic and therapeutic procedures. It enables the detection of abnormalities, tissue biopsies, polyp removal, stricture dilations, stent placements, and the treatment of bleeding or tumors. For instance, according to the National Institutes of Health, in the U.S., approximately 20 million gastrointestinal endoscopies are performed every year. The wide range of diagnostic and therapeutic capabilities offered by endoscopy in gastroenterology contributes to the dominance of this segment in the market. Screening programs for digestive cancers, such as colorectal cancer, are implemented worldwide to detect and prevent these cancers at early stages. Colonoscopy, an endoscopic procedure, is the gold standard for colorectal cancer screening. The implementation of such screening programs and the increasing awareness of the importance of early detection and prevention of digestive cancers drive the demand for endoscopy equipment in gastroenterology. The field of gastroenterology has witnessed significant technological advancements in endoscopy equipment. Advanced endoscopes with high-definition (HD) and ultra-high-definition (UHD) imaging, narrow-band imaging (NBI) for improved visualization of lesions, confocal laser endomicroscopy (CLE) for real-time cellular imaging, and advanced endoscopic ultrasound (EUS) systems have greatly enhanced diagnostic accuracy and therapeutic capabilities. These technological advancements in gastroenterology-specific endoscopy equipment contribute to the dominance of this segment in the market. Many gastrointestinal conditions require repeat endoscopic procedures and long-term surveillance. For example, patients with inflammatory bowel disease (IBD) require regular colonoscopies to monitor disease activity and detect dysplasia or cancer. This ongoing need for repeat procedures and surveillance in gastroenterology contributes to the sustained demand for endoscopy equipment in this segment.

Endoscopy Equipment Market by End User

Based on the end user, the global endoscopy equipment market is segmented into hospitals, ambulatory surgical centers, and others.

The hospitals segment dominates the global market with 47.03% of revenue shares. Hospitals typically have a large patient volume, providing a significant demand for endoscopy procedures. As a result, hospitals require a robust infrastructure to cater to the needs of a diverse patient population. This includes a wide range of endoscopy equipment to support various diagnostic and therapeutic procedures. Hospitals offer comprehensive healthcare services, including specialized departments and medical expertise across multiple disciplines. Hospitals often perform advanced endoscopic procedures that require specialized equipment. These procedures may include endoscopic ultrasound (EUS), endoscopic retrograde cholangiopancreatography (ERCP), endoscopic mucosal resection (EMR), and endoscopic submucosal dissection (ESD), among others. Such procedures demand high-end endoscopy equipment and specialized accessories, which are more commonly available in hospitals. Hospitals generally have a pool of skilled healthcare professionals, including endoscopists, endoscopy nurses, and support staff, who are trained in performing endoscopic procedures. The availability of skilled professionals ensures efficient utilization of endoscopy equipment and enhances the quality of care provided to patients. Hospitals have the infrastructure and resources to support endoscopic procedures. This includes dedicated endoscopy units, specialized procedure rooms, recovery areas, and equipment maintenance and sterilization facilities. Hospitals can invest in a comprehensive range of endoscopy equipment, including advanced visualization systems, endoscopes, accessories, and supporting technologies, due to their financial and logistical capabilities. 

Endoscopy Equipment Market by Region

Based on the region, the global endoscopy equipment market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

North America accounts for the largest share in the global market with 42.3% revenue share in 2022. North America has a highly advanced and well-established healthcare infrastructure. The region is equipped with modern hospitals, specialized healthcare facilities, and a strong network of healthcare providers. This infrastructure supports the adoption and utilization of endoscopy equipment across various medical specialties. North America is known for its advancements in medical technology and innovation. The region has a robust research and development ecosystem, fostering the development of cutting-edge endoscopy equipment and related technologies. This technological leadership and innovation attract healthcare providers and drive the demand for advanced endoscopy equipment in the region. North America has a relatively high prevalence of gastrointestinal diseases, such as colorectal cancer, gastroesophageal reflux disease (GERD), and inflammatory bowel disease (IBD). The need for accurate and effective diagnosis, surveillance, and treatment of these diseases drives the demand for endoscopy equipment in the region. For instance, according to the American Cancer Society, In the U.S. in 2020, an estimated 104,610 new cases of colon cancer and 43,340 cases of rectal cancer were diagnosed.

Endoscopy Equipment Market Competitive Landscape

The prominent players operating in the global endoscopy equipment market 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

Strategic Developments

• In March 2023, FUJIFILM India launched an upgraded version of CAD EYE to diagnose the stomach and esophagus. The product was launched in the National event GI Update 2023 at Mysuru. Fujifilm has released this technology for the first time outside of Japan. The CAD EYETM is a powerful tool based on Artificial Intelligence Technology that aids gastroenterologists in the early diagnosis and characterization of aberrant growth in the GI tract. This is the second chapter in the already established Al diagnostic technique for colon detection.

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