The Global Endoscopy Equipment Market was valued at USD 54.4 Billion in 2023 and is estimated to reach USD 103.52 Billion by 2033, growing at a CAGR of 7.5% from 2023 to 2033.
Scope of the market:
Endoscopy procedures are nonsurgical procedures that utilize endoscopy instruments and supplies to examine the patient's internal tract. Endoscopy Equipment is of 2 major categories, flexible and rigid. Flexible is used for internal organs using thin, flexible tubes called endoscopes for example used for gastroenterologists. Rigid endoscopy uses shorter rigid scopes for procedures such as laparoscopy and arthroscopy allowing real-time view on a high-definition monitor.Rising obesity is booting the endoscopy equipment market. The geriatric population is growing resulting in age-related disorders and the rising need for endoscopic devices in diagnostic and therapeutic disorders, medical disorders requiring endoscopic intervention in endometriosis, gall stones, pelvic abscesses, and liver abscesses. This equipment in the treatment and diagnosis of various healthcare conditions is very useful and also allows less intervention.According to NIH, approximately 18 million endoscopy procedures are performed yearly in the USA and 2 million in France.
Economic Impact of COVID-19:
The Endoscopy Equipment Market has a significant impact on the COVID-19 pandemic. The pandemic disrupted the supply chain which delayed the distribution, manufacturing, and delivery of endoscopic equipment. In response to pandemic the infection prevention andcontrol measures in the healthcare sectorinclude endoscopy units. This further allowed demand for single-use accessories, disposable endoscopes, and high-level infection systems to reduce the risk of cross-contamination and nosocomial infections.
The analysis of the COVID-19 recovery trajectory provides an overview of the main strategies that industries are implementing to respond to and recover from the economic crisis. It also focuses on the post-pandemic and pre-pandemic era of the Global Endoscopy Equipment Market through PEST analysis, SWOT, Quantitative and Qualitative analysis, Attractive analysis, and DROs.
Key Players:
- Stryker Corporation
- Olympus Corporation
- Boston Scientific Corporation
- Richard Wolf GmbH
- PENTAX Medical
- Medtronic Plc
- Fujifilm Holdings Corporation
- Smith & Nephew Inc
- Micro-Tech Endoscopy
- Shaili Endoscopy
- Cognetix
- Interscope Inc
- J&J Services Inc
- Cantel Medical
- Hoya Corporation
- Karl Storz GmbH & Co.KG
- MedroboticsCorporation
- Others
The above key players in the Global Endoscopy Equipment Market can be changed according to the client’s requirements.
Moreover, the key players aim towards expansion, joint ventures, collaboration, mergers, and acquisitions to advance capabilities in the Endoscopy Equipment Market.
Recent Developments in the GlobalEndoscopy Equipment Market:
In 2024
Scivita Medical Expands Endoscope Collaboration with Boston Scientific
Scivita Medical Technology and Boston Scientific have come together to sign an expanded strategies cooperation arrangement to bring single-use endoscopes & imaging devices to more patients and hospitals throughout China and other countries. The strategic cooperation arrangement between the two companies will expand Scivita's medicalexisting relationship with Boston Scientific for strategies co-development and global distribution activities.
In 2023
Sony and Olympus to collab on next-gen endoscopes
On Dec 8th 2023 Olympus announced its new business alliance with Sony over medical devices-specially endoscopes. The 2 companies agreed previously in 2012, which cover surgical endoscopes with 4K or higher resolution or 3D function. The companies now aim to expand to next-generation respiratory and gastrointestinal endoscopes. Olympus expects Sony to provide technology and aims to develop an imaging platform for these scopes and delegates a portion of the development of Sony Olympus Medical Solutions. Moreover, the company expects an immaterial impact on financial results for the fiscal year ending March 31st, 2024.
NVIDIA and LTTS team up to bring GEN AI to endoscopy imaging
On Nov’23 these 2 companies will focus their efforts on developing software-defined architectures for endoscopy-oriented medical devices. NVIDIA will provide some of its artificial Intelligence platforms to L&T Technology Services Limited to support and enhance medical imaging. Moreover, NVIDIA will supply its Holoscan software and NVIDIA IGX Orin Hardware which is a popular AI technology. This collaboration will push the boundaries and accelerate the development of AI-powered medical imaging solutions by enhancing real-time clinical decision-making support and image quality.
Global Endoscopy Equipment Market Key Benefits:
- The report provides information regarding key drivers, restraints, and opportunities with impact analysis.
- Quantitative and Qualitative analysis of the current market.
- Estimations for the forecast period 2033.
- Historical data and forecast data.
- Recent developments and trends in the market.
- Market share of the market players, company profiles, SWOT analysis, and competitive landscape.
- Covid-19 Impact analysis
Global Endoscopy Equipment Market Segmentation:
By Application:
- Laparoscopy
- Arthroscopy
- Bronchoscopy
- Otoscopy
- Mediastinoscopy
- Larynscopy
- Gastrointestinal Endoscopy
- Others
By End-Use:
- Hospital
- Ambulatory Surgery Centres
- Others
By Endoscopy Devices Type:
- Endoscopes
- Flexible Endoscopes
- Colonoscopes
- Sigmoidoscope
- Bronchoscopes
- Rhinoscopes
- Duodenoscopes
- Endoscopy Visualization Systems
- Endoscopy Visualization
- Operative Devices
By Region:
Asia-Pacific
- Japan
- China
- India
- Australia
- New Zealand
- Rest of Asia-Pacific
North America
- US
- Canada
- Mexico
Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Europe
Rest of the World
Each of the market segments has been analyzed in detail for market trends, recent trends and developments, drivers, restraints, opportunities, and competitive analysis.
Research Scope:
|
Report Scope |
Details |
|
Base Year |
2023 |
|
Forecast Years |
2023 to 2033 |
|
Historical Years |
2019 to 2023 |
|
Market Size 2023 |
54.4 BN |
|
Market Revenue 2033 |
103.52BN |
|
Growth Rate 2023- 2033 |
7.5 % |
|
Report Coverage |
Trends, SWOT Analysis, Competitive Landscape, DROs, Revenue Forecast, PEST Analysis. |
|
Segments Covered |
Application, End Use, Endoscopy Device Type, Region |
|
Companies Mentioned |
Stryker Corporation, Olympus Corporation, Boston Scientific Corporation, Richard Wolf GmbH, PENTAX Medical, Medtronic Plc, Fujifilm Holdings Corporation, Smith & Nephew Inc, Micro-Tech Endoscopy, Shaili Endoscopy, Cognetix, Interscope Inc, J&J Services Inc, Cantel Medical, Hoya Corporation, Karl Storz GmbH & Co.KG, Medrobotics Corporation |
|
Customization |
Yes |
Regional Analysis:
North America has accounted for the largest revenue share at 49% in 2023 due to the rising prevalence of cancer and the increasing geriatric population. Cancer and Gastrointestinal infection are demanding for biopsy sampling. According to the Breast Cancer Org in 2023an estimated 297,790 new cases of invasive breast cancer are expected to be diagnosed in US women. There are more than 4 million cases of breast cancer currently in United States. Moreover, growing awareness of early diagnosis of diseases using minimally invasive procedures and higher investment in healthcare infrastructure are also propelling the endoscopy equipment market to expand in the forecast.
Asia Pacific is expected to witness the highest CAGR during the forecast period. Rapidly growing population, demand for endoscopy devices, increasing healthcare awareness and investment bykey players to expand their reach are factors responsible for growth of the market. Transfer of technology and collaboration are further contributing to make these technologies more accessible.For instance, Scivita Medical Expands Endoscope Collaboration with Boston Scientific. Additionally, technological advancements, favorable reimbursement policies and increasing geriatric population with the medical condition are stimulating the endoscopy equipment market to grow in the Asia Pacific region.
Key questions answered by this report.
- Top market players contributing to the revenue?
- Trending strategies by the players?
- Which region will be the leading one in the forecast period?
- Factors that drive the Global Endoscopy Equipment Market?
- Which factors will affect the Global Endoscopy EquipmentMarket?
- How Covid-19 pandemic impact the growth of the Global Endoscopy Equipment Market?
- Which Segment accounted for the Global Endoscopy Equipment Market shares?
Frequently Asked Questions (FAQ) :
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