The Endoscopes Market Is Expected To Reach Nearly US$ 34 Bn By 2032

According to Fact.MR- market research and competitive intelligence provider- demand for endoscopes surged at a CAGR of 9% from 2015 to 2021. Rising preference for minimally invasive surgical procedures to reduce patient trauma has proven to be a significant growth accelerator throughout the historical period.

During the COVID-19 pandemic, endoscope market demand underwent multiple fluctuations. At the onset of the disease, there was a significant shortage, attributed to the imposition of stringent lockdowns to curb the spread of the virus. Production shortfalls amid factory shutdowns led to a demand supply disequilibrium. Eventually, however, prospects appeared optimistic, given the rising need to scan infected patients and suggest appropriate treatment.

In the future, favourable reimbursement policies provided by healthcare sectors along with increasing FDA approvals for endoscopic devices are expected to escalate the demand for endoscopes. Thus, the sales of endoscopes are expected to exceed US$ 34 Bn by registering a CAGR of 10% in the forecast period 2022-2032.

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Obesity Key Reason for Gastrointestinal Disorders?

Obesity is a serious health problem due to sedentary lifestyles and diets. Moreover, obseity is associated with several gastrointestinal disorders, such as esophageal adenocarcinoma, gastroesophageal reflux disease, erosive esophagitis, colorectal polyps, and cancer. Moreover, indigestion caused due to being lactose intolerant, improper diagnosis and ignorance is pushing patients to test themselves with the help of endoscopes.

Furthermore, growth in obesity amongst people is expected to grow at a significant rate by 2030 owing to unhealthy lifestyle. This has increased the demand for endoscopic sleeve gastroplasty procedures as it significantly reduces stomach volume. Moreover, doctors too are giving preference to using endoscopes as they provide accurate results. This helps the doctors to prescribe medication and any space for improper diagnosis is completely deleted. Thus, the demand for endoscopic treatments to treat obesity is expected to positively demand the sales of endoscopes.

Gastrointestinal Disorders Surging Demand for Endoscopes in North America?

Increasing adoption of elective endoscopic procedures along with improved healthcare expenditure, and the high geriatric population is fuelling the growth of endoscopes market in North America. In addition, the high burden of cancer and functional gastrointestinal disorders in the U.S. is expected to drive the demand for endoscopes.

For instance, according to the American Cancer Society, about 1.9 million new cancer cases are estimated to be diagnosed in 2021 in the U.S. Thus, North America is expected to hold more than 40% market share for endoscope market in the assessment period.

Various Surgical Applications Bolstering Demand for Endoscopes?

Healthcare professionals are giving preference to using first-line therapeutic option as the treatment can be performed by sedating patients. In addition, the cost-effectiveness, safety, and high-efficiency properties are expected to accelerate the use of flexible endoscopes.

Moreover, use of flexible endoscopes in various surgical applications, such as gastrointestinal endoscopy, laparoscopy, arthroscopy, broncoscopy, otoscopy, mediastinoscopy, and laryngoscopy, urology endoscopy, obstetrics/gynecological endoscopy. This increases their adoption and thereby fueling the segment growth. Thus, by product type, flexible endoscopes are expected to possess more than 45% market share for endoscopes.

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Competitive Landscape

In January 2021, Olympus Corp completed the acquisition of Quest Photonic devices. The company is focusing on offering and inventing endoscopes to provide better treatments to patients.

Key Companies Profiled:

• Olympus Corp.
• Richard Wolf Medical Instruments
• CONMED Corp.
• Ethicon US, LLC
• FUJIFILM Holdings Corp.
• Medtronic
• Stryker
• Boston Scientific Corp.
• PENTAX Medical
• Karl Storz GmbH & Co., KG

Key Segments Covered in the Endoscopes Market Report

By Product

• Rigid Endoscopes
• Laparoscopes
• Arthroscopes
• Other Rigid Endoscopes
• Urology Endoscopes
• Cystoscopes
• Gynaecology Endoscopes
• Neuroendoscopes
• Flexible Endoscopes
• Upper Gastrointestinal Endoscopes
• Rhinoscope
• Bronchoscopes
• Duodenoscopes
• Nasopharyngoscopes
• Colonoscopes
• Sigmoidoscopes
• Laryngoscopes
• Pharyngoscopes
• Other Flexible Endoscopes
• Capsule Endoscopes
• Disposable Endoscopes
• Robot Assisted Endoscopes

By Application

• Laparoscopy
• Otoscopy
• Laryngoscopy
• Urology Endoscopy (Cystoscopy)
• Bronchoscopy
• Gastrointestinal (GI) Endoscopy
• Obstetrics/Gynecology Endoscopy
• Arthroscopy
• Mediastinoscopy
• Other Applications

By End Use

• Ambulatory Surgery Centers/Clinics
• Hospitals
• Other End Uses

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