Endoscopy Device Market Growth And Trends Analysis By Type, (Flexible Endoscopes), Therapy (Gastroscopy), Treatment & Procedure (Abdominal, Gynecologic And Pelvic Organ Conditions), Application, (Gastrointestinal Endoscopy), Accessory & Processor, Technology, And End User - Global Forecast Till 2023

Endoscopy Devices Market Outlook

The Global Endoscopy Devices Market is anticipated to expand at a 6.3% CAGR from 2017 to 2023 (forecast period), according to the latest report by Market Research Future (MRFR). Its valuation can touch USD 42,342.4 million by 2023. The rising prevalence of chronic diseases such as cancer is likely to prompt the need for endoscopes in hospitals and clinics. According to the American Cancer Society, 90% of colorectal cancer are detected using colonoscopy. Moreover, the popularity of minimally invasive surgeries is likely to fuel market growth over the forecast period.

Reimbursement schemes designed for treatment and screening with the assistance of endoscopes can spur the market demand. Advances in imaging technology to discern defects in lumen, vessels, and organs are expected to bolster the market volume. This is buttressed by an article published in Nature Biomedical Engineering discussing the benefits of scanning fiber endoscope (SFE), an emerging technology. SFE has been successful in detecting plaques in the carotids and detection of foreign cells in the GI tract. But medical complications caused by endoscopes can act as a market deterrent.

Overview of Endoscopes

The rise of unknown diseases has elicited the demand for advanced imaging technology to detect it faster. Endoscopes are medical devices used by doctors and surgeons to attain a closer look of the inside of organs. For instance, arthroscopes are preferred for dealing with joints or bronchoscopes are used in identifying problems in the lungs. The annual spending on detecting gastrointestinal (GI) diseases in the U.S. has touched a number close to USD 140 billion. Endoscopes have a major role in discerning blockages in blood vessels or narrow pathways.

Competitive Dashboard

Integrate Endoscopy, KARL STORZ Gmbh & Co. KG, Micro-Tech Endoscopy, Cantel Medical, RICHARD WOLF, FUJIFILM, Interscope Inc., J&J Services Inc., OLYMPUS, PENTAX MEDICAL, Stryker, Cogentix Medical, Shaili Endoscopy, and Cognetix are notable names in the endoscopy devices market. Distribution agreements, collaborations, and mergers & acquisitions are strategies being employed by players to expand their consumer base and reach into new areas.

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Capsule Endoscope to be the Fastest Growing Segment by 2023

The Global Endoscopy Devices Market is segmented on the basis of type, therapy, treatment & procedures, application, accessory & processors, technology, and end-user.

Types of endoscopes include rigid endoscopes, capsule endoscopes, robot-assisted endoscopes, surgical endoscopes, and flexible endoscopes. The flexible endoscope segment is expected to capture neaely 28% share of the market by the end of the forecast period. But capsule endoscopes are touted to expand at a 6.9% CAGR during the forecast period. Therapies conducted via endoscopes include sigmoidoscopy, cystoscopy, colonoscopy, laparoscopy, endoscopic retrograde cholangiopancreotography, ureteroscopy, gastroscopy, and arthroscopy.

By treatments & procedures, the Endoscopy Devices Market is segmented into urinary system conditions, lower gastrointestinal conditions, upper gastrointestinal conditions, lung and airway conditions, abdominal, joint and orthopedic conditions, and gynecologic and pelvic organ conditions.

Key applications include urology endoscopy, bronchoscopy, arthroscopy, mediastinoscopy, obstetrics/gynecology endoscopy, gastrointestinal endoscopy, and otoscopy. The gastrointestinal endoscopy segment can expand in size owing to various GI disorders and increase in colonoscopy procedures.       

Major end-users include critical care, orthopedic surgeons, obstetricians-gynecologists (ob/gyns), general and pediatric surgeons, and gastroenterologists. Technologies relied by endoscopes include video and fiber.

The Americas to be the Biggest Revenue Generator

The Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA) are regions of interest discussed in depth in the endoscopy devices market.

The Americas accounted for nearly 37% share of the market in 2016, Its value can surge to USD 15,186.1 million by 2023 owing to a strong economy and continuous development in the healthcare sector. Moreover, hospitals adopting the latest devices coupled with the abundance of skilled professionals can fuel the market growth over the forecast period.

The Europe market is driven by the use of diagnostic imaging devices such as bronchoscopes, gastroscopes, and other endoscopes. The sharp rise in esophageal cancer incidence in Europe is likely to facilitate market growth over the forecast period.

The APAC market can grow at a rapid clip owing to improving economies of India and China. The huge patient pool in these countries can provide new growth opportunities for the market. Rising cases of cancer and GI diseases in developing economies can create the demand for advanced diagnosis and treatment methods. The MEA market will register the lowest CAGR owing to low availability of medical facilities and less development in the healthcare sector. But research and development in Kuwait and Qatar can boost the revenues of the market in the forthcoming years.