Endoscopy Devices Market Size, Share & Trends Analysis Report By Product, By Application, By End Use, By Region (North America, Europe, Asia Pacific, Latin America, MEA), And Segment Forecasts, 2023 - 2032

The global endoscopy devices market size was estimated at around USD $45.70 billion in 2022 and it is projected to hit around USD $94.19 billion by 2032, growing at a CAGR of 7.50% from 2023 to 2032.

Key Pointers

• The endoscopy visualization systems segment accounted for the largest revenue share of 36.6% in 2022.
• The Gastrointestinal (GI) endoscopy segment dominated the market for endoscopy devices and accounted for a revenue share of 55.3% in 2022.
• The hospital's segment dominated the market for endoscopy devices and accounted for the highest revenue share of 47.1% in 2022.
• North America accounted for the highest revenue share of 41.8% in the market for endoscopy devices in 2022.

Report Scope of The Endoscopy Devices Market:

The less invasive properties and affordable post and pre-procedure cost of endoscopy devices are the major factors anticipated to boost the market growth over the forecast period. Furthermore, a shift in trend to use disposable endoscopic components to minimize the procedure cost as well as the chance of cross-contamination is also expected to accelerate market growth over the years.

In addition, the growing chronic disease burden and increasing geriatric population all over the globe are also anticipated to fuel the adoption of endoscopic devices during the coming years. Moreover, growing medical conditions due to the increasing geriatric population often require endoscopic intervention such as liver abscess, gall stones, endometriosis, and intestinal perforation, which in turn are anticipated to drive the market for endoscopy devices over the forecast years. For instance, as per the Administration on Aging (AoA) of the U.S. Department of Health and Human Services report, about 16% of the population were aged above 65 years during 2019. This number is expected to increase to 21.6% by 2040.

In addition, increasing preference by medical professionals to use technologically advanced endoscopy devices equipped with a high-definition camera and light sources to help physicians analyze internal organs of interest also drives the market. The shift of preference towards minimally invasive surgical procedures than traditional surgeries to reduce hospital stay and minimize post-procedure complications are the major factors anticipated to fuel the demand for endoscopy devices. Hence, factors such as higher patient satisfaction, increased economic viability, and lesser hospital stay are expected to increase the demand for minimally invasive endoscopic interventions in the coming years, thereby accelerating market growth.

Furthermore, the growing burden of cancer all over the world also fuels the adoption of endoscopy devices for the early diagnosis and treatment of the disease. For instance, according to GLOBOCAN 2020 estimates 19.3 million new cancer cases worldwide and almost 10 million death occurred in 2020 due to cancer. In addition, the increasing preference for biopsies for diagnosis and detection of cancer in recent years is also likely to increase the adoption of endoscopic devices, which in turn is anticipated to drive the market for endoscopy devices over the years.

Technological advancement to develop innovative endoscopic devices is also anticipated to accelerate market growth during forecast periods. The key manufacturers are continuously looking forward to innovating advanced endoscopic solutions for better treatment and diagnosis of several chronic disorders. For instance, in August 2021, Fujifilm Holdings Corporation announced the commercial launch of the ELUXEO 7000X endoscopic Imaging System. This advanced imaging system enables real-time visualization of hemoglobin oxygen saturation (StO2) levels in tissue during laparoscopic and/or endoluminal imaging procedures.

In addition, the endoscopy devices market has been significantly impacted by the COVID-19 pandemic. The reduction and postponement of elective surgeries due to the fear of COVID-19 infection have negatively impacted the growth of the market for endoscopy devices. In addition, supply chain disruptions, changing regulations for surgical procedures, are some of the factors that also hampered market growth in 2020. For instance, according to an international study published in the Arab Journal of Gastroenterology, Elsevier in 2020, the endoscopic procedure volume was reduced by over 50% of the 85% of the responded countries all over the world during the COVID-19 pandemic.

Global Endoscopy Devices Market Segmentation:

Product

• Endoscopes

• • Rigid Endoscopy Devices

• • • Laparoscopes
    • Arthroscopes
    • Urology endoscopes
    • Cystoscopes
    • Gynecology endoscopes
    • Neuroendoscopes
    • Other rigid endoscopes

• • Flexible Endoscopy Devices

• • • Upper gastrointestinal endoscopes
    • Colonoscopes
    • Bronchoscopes
    • Sigmoidoscopes
    • Laryngoscopes
    • Pharyngoscopes
    • Duodenoscopes
    • Nasopharyngoscopes
    • Rhinoscopes
    • Other flexible Endoscopy Devices

• • Capsule Endoscopy Devices
  • Disposable Endoscopy Devices
  • Robot Assisted Endoscopy Devices

• Endoscopy Visualization Systems

• • Standard Definition (SD) Visualization Systems

• • • 2D systems
    • 3D systems

• • High Definition (HD) Visualization Systems

• • • 2D systems
    • 3D systems

• • Endoscopy Visualization Component

• • • Camera Heads
    • Insufflators
    • Light Sources
    • High Definition Monitors
    • Suction Pumps
    • Video Processors

• • Operative Devices

• • • Energy Systems
    • Access Devices
    • Suction & Irrigation Systems
    • Hand Instruments
    • Wound Retractors
    • Snares

Application

• Gastrointestinal (GI) endoscopy
• Laparoscopy
• Obstetrics/gynecology endoscopy
• Arthroscopy
• Urology endoscopy (cystoscopy)
• Bronchoscopy
• Mediastinoscopy
• Otoscopy
• Laryngoscopy
• Other applications

End-use

• Hospitals
• Ambulatory surgery centers
• Other end uses