Which application segment driving the demand of Endoscopy Devices Market?

Posted on 2022-06-28 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, June 28, 2022 — /EPR Network/ —

Endoscopy Devices Industry Overview

The global endoscopy devices market size is expected to reach USD 81.0 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a compounded annual growth rate (CAGR) of 7.4% from 2022 to 2030. Growing adoption of minimally invasive endoscopic procedures by medical professionals to look into the esophagus, colon, and stomach and also its application to perform biopsies and sclerotherapy are some of the factors boosting the market growth. In addition, the increasing trend of adopting disposable endoscopes to reduce the chances of cross contaminations is also anticipated to fuel the growth of the market over the forecast years.

Endoscopy Devices Market Segmentation

Grand View Research has segmented the global endoscopy devices market based on product, application, end use, and region:

Based on the Product Insights, the market is segmented into Endoscopes, Endoscopy Visualization Systems and Operative Devices.

The endoscopy visualization systems segment accounted for the largest revenue share of 36.5% in 2021 owing to their wide adoption during endoscopy procedures and increasing application for the visualization and diagnosis of complex disease conditions such as cancer, GI disorders, urinary disorders, and lung disorders.
The endoscopes segment accounted for a CAGR of 9.4% in the market for endoscopy devices during the forecast period. This high growth rate is attributed due to the increasing number of endoscopic procedures coupled with the high adoption of endoscopes to perform surgeries and biopsies for better diagnosis and treatment.

Based on the Application Insights, the market is segmented into Gastrointestinal (GI) endoscopy, Laparoscopy, Obstetrics/gynecology endoscopy, Arthroscopy, Urology endoscopy (cystoscopy), Bronchoscopy, Mediastinoscopy, Otoscopy, Laryngoscopy and Other applications.

The Gastrointestinal (GI) endoscopy segment dominated the market for endoscopy devices and accounted for a revenue share of 54.7% in 2021. This high share of the segment is attributable to the increasing geriatric population and the growing burden of functional gastrointestinal diseases.
The urology endoscopy segment is anticipated to witness the fastest growth rate over the forecast years owing to the increasing prevalence of chronic urological diseases such as cancer and tumor and the growing number of cystoscopy procedures.

Based on the End-use Insights, the market is segmented into Hospitals, Ambulatory surgery centers and Other end uses.

The hospital’s segment dominated the market for endoscopy devices and accounted for the highest revenue share of 48.1% in 2021.
The ambulatory surgery centers/clinics segment is anticipated to witness the highest CAGR during forecast years. Growing preference for minimally invasive procedures to lower overall cost and reduce the number of days of hospital stays are some of the major factors expected to drive the growth of the segment.

Endoscopy Devices Regional Outlook

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies Profile

The high demand for technologically advanced endoscopic products for diagnosis and treatment of several chronic disorders makes the completion intense among the existing players. In addition, growing preference for the minimally invasive procedure with low cost, safety and reduced chance of contamination devices further increase the competition. Moreover, the top market players also adopting business strategies such as new product launches, collaboration, mergers and acquisitions to increase their product portfolio and market share in the area of endoscopic devices.

Some prominent players in the global Endoscopy Devices market include

Olympus Corporation
Ethicon Endo-surgery, LLC.
FUJIFILM Holdings Corporation
Stryker Corporation
Boston Scientific Corporation
Karl Storz GmbH & Co. KG
Smith & Nephew Inc.
Richard Wolf GmbH
Medtronic Plc (Covidien)
PENTAX Medical
Machida Endoscope Co., Ltd.

Order a free sample PDF of the Endoscopy Devices Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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