Global endoscopes sales were valued at USD 11.6 million in 2020. This market is expected to grow at a 9.2% compound annual growth rate (CAGR), between 2021 and 2028. Market growth is driven by increasing awareness about the advantages of minimally-invasive surgeries compared to open invasive surgery and rising incidence of chronic diseases such as heart disease, cancer, and diabetes. The key trends driving the market for endoscopes include technological advances in endoscopes, as well as increasing use of endoscopes in different diagnosis and treatment processes. Minimally invasive surgery is driving the use of many endoscopic procedures such as proctoscopy and cystoscopy for diagnosis.
Minimally invasive surgery requires fewer incisions. This gives them many advantages such as reduced pain, minimal/minimal or no risk of complications and a faster recovery time than open surgery. Minimally invasive procedures are also affordable and cost-effective, which can lead to a better quality of life. The market will be driven by this shift to minimally invasive surgeries from open surgery.
The market will also be fueled by the rise of bariatric surgery with the aid of endoscopes such as endoscopic sleeves gastroplasty. Endoscopic bariatric procedures use sutures to repair the stomach and reduce stomach size by approximately 70%. This is expected to increase the demand for endoscopes.
The rising obesity rate is another factor that has boosted the popularity of bariatric surgery. According to estimates by the Organization for Economic Cooperation and Development (OECD), the obesity rate is expected to increase significantly by 2030. The highest obesity rates have been reported in the U.S.A, Mexico, and England. Nearly 47%, 39% and 35% respectively of the U.S. population are expected to be obese by 2030. This will increase demand for bariatric surgery, which is expected to propel the market growth.
Endoscopes are being used to diagnose and treat cancer. According to Globocan 2020, there have been 19.3 million new cases of cancer worldwide. The rising incidence of cancer will likely increase the need for biopsies to diagnose it. Endoscopy for biopsy and endoscopic ultrasound are the most preferred methods for diagnosing cancer. Market growth is expected to be driven by an increase in demand for diagnostic endoscopic procedures during the forecast period.
From 2019 to 2020, the market for endoscopes declined by 1.7%
Market growth is expected to be between 8% and 10% over the next five years.
This decline can be attributed to the delay and reduction of elective surgery, changes in regulations that prevent the spread of the virus, and disruptions in supply chains.
Because disposable endoscopes can be used to reduce contamination risks via airborne routes, they are likely to increase in size.
A multicenter survey was conducted in Northern Italy in 2020. Of the 41 centers participating in the survey, 40 (97.6%), reported that there had been a decrease in endoscopic activities as a result of the COVID-19 pandemic.
The launch of new products and market share increases will be possible by increasing R&D in the field of endoscopic technology.
The market for endoscopes has also been affected by the COVID-19 epidemic. Market conditions have been severely affected by the postponement of elective surgery and the decrease in elective surgeries during the pandemic. Market growth was also hampered by changes in regulations to reduce the spread of the virus and disruptions to the supply chain. A multicenter survey in Northern Italy, 2020 showed that almost all patients were exposed to COVID-19 in endoscopy units at different hospitals. The survey found that 40 of the 41 participating endoscopy centres (97.6%) reported an increase in endoscopic activity due to the COVID-19 pandemic.
Flexible endoscopes held a dominant position in the market, accounting for 47.9% of all sales in 2020. Flexible endoscopes dominated the market with a share of 47.9% in 2020. This can be attributed to medical professionals' growing preference for them, technological advances, improved safety and efficiency, as well as ergonomic features. These endoscopes can also be used in many procedures such as colonoscopy and bronchoscopy. This has increased their popularity, fuelling the segment's growth.
The disposable otoscopes segment will grow at the fastest pace during the forecast period. The key factors driving the segment's growth include the increased risk of infection from conventional reusable endoscopes as well as technological advances and the introduction of new products. The COVID-19 pandemic, which saw the rise in disposable endoscopes, has also aided in the adoption of these endoscopes. These endoscopes can be used via airborne routes to reduce the risk of contamination.
The largest revenue share, 52.0%, was attributed to GI endoscopy in 2020. This is due to the increasing geriatric population as well as the rising incidence of gastrointestinal diseases. The segment is also driven by an increase in gastroscopy, the use of endoscopes to diagnose and treat GI diseases, as well as the availability of advanced gastroscopy products.
Over the forecast period, the highest CAGR is expected for the urology segment. Demand for urology endsoscopy is expected to rise due to the growing number of urology procedures and increasing incidence of urologic carcinomas. A subsequent rise in the treatment rate will also be expected to increase the use of endoscopic devices in urologic surgery, which should propel the segment's growth.
Hospitals accounted for 47.9% of the total revenue in 2020. This was due to favorable reimbursement policies as well as a high adoption and use of endoscopes within hospital systems. Hospitals are often the first health system in most countries. Therefore, the number of procedures performed in hospitals is higher than in any other health system. This is one key factor that has boosted the growth of this segment.
Over the forecast period, the highest CAGR is expected for the ambulatory surgical center/clinics segment. The demand for ambulatory surgical procedures or surgeries in clinics and ambulatory surgical centers has been supported by the following factors: a shorter time to perform endoscopy, less discomfort from keyhole surgery, and a quicker time to recover. This will positively impact the segment's growth. A smaller number of hospital stays will also increase demand for endoscopes in the ambulatory center.
North America was the dominant market in the global market, with 42.0% of the revenue in 2020. This is due to improved healthcare infrastructure, rising adoption of advanced technology, and a growing preference for minimally invasive surgery to reduce healthcare spending. The market's growth is also driven by the rising incidence of cancer and gastrointestinal disorders in the region. According to the National Cancer Institute (NCI), approximately 1,806,590 new cancer cases will be diagnosed in the U.S. by 2020.
Due to the demand for endoscopic technology in Asia Pacific, the region will experience a significant growth rate over the forecast period. The region's market growth is also due to improvements in health infrastructure and a growing geriatric population. The region's economic growth is also a major factor in attracting foreign investment. Market growth is supported by the presence of important players in the region.
Due to increased demand for endoscopes in various treatment and diagnostic procedures, there is fierce competition among existing players. Increased awareness and acceptance of endoscopes, and other technologies, will likely drive new companies to enter the market.
To increase their market share, key market players are also pursuing strategic alliances and mergers & acquisitions as well as increasing R&D in endoscopic technologies. Olympus Corporation, for example, announced in 2020 the launch of EVIS X1, its new endoscopy device. This advanced technology endoscopy system can improve outcomes for patients suffering from stomach, esophageal and colon diseases. The following are some of the major players in the global market for endoscopes:
Ethicon US, LLC
FUJIFILM Holdings Corporation
Boston Scientific Corporation
Karl Storz GmbH & Co., KG
Richard Wolf Medical Instruments
Up Market Research published a new report titled “Endoscopes Market research report which is segmented by Product (Flexible Endoscopes, Disposable Endoscopes), By Players/Companies Â Stryker, Â CONMED Corporation, Medtronic, Â Boston Scientific Corporation, Ethicon US LLC, Â Karl Storz GmbH & Co KG, Richard Wolf Medical Instruments, Â PENTAX Medical, Olympus Corporation, Â FUJIFILM Holdings Corporation”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
|Report Attributes||Report Details|
|Report Title||Endoscopes Market Research Report|
|By Product||Flexible Endoscopes, Disposable Endoscopes|
|By Companies||Â Stryker, Â CONMED Corporation, Medtronic, Â Boston Scientific Corporation, Ethicon US LLC, Â Karl Storz GmbH & Co KG, Richard Wolf Medical Instruments, Â PENTAX Medical, Olympus Corporation, Â FUJIFILM Holdings Corporation|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||202|
|Number of Tables & Figures||142|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Product (Flexible Endoscopes, Disposable Endoscopes).
Some of the companies that are profiled in this report are:
Endoscopes Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Endoscopes Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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