Healthcare Medical Devices Biotechnology

Endoscopy Device Market Report Cover

Endoscopy Device Market

Endoscopy Device Market Report Cover

Endoscopy Device Market Size, Share, Growth & Industry Analysis, By Application (Gastroenterology, Gynecology, Bronchoscopy, Laparoscopy, Arthroscopy, Others), By Type (Endoscopes, Endoscopy Visualization Systems, Operative Devices, Others), By End User (Hospitals, Clinics/Ambulatory Surgery Centers, Other End Users) and Regional Analysis, 2024-2031

Author : Siddhi J.

Pages : 120

Base Year : 2023

Release : May 2024

Report ID: KR737

Endoscopy Device Market Size

Global Endoscopy Device Market size was recorded at USD 30.87 billion in 2023, which is estimated to be at USD 32.60 billion in 2024 and projected to reach USD 50.50 billion by 2031, growing at a CAGR of 6.45% from 2024 to 2031. The expansion of the market is mainly driven by the increasing incidence of gastrointestinal diseases, technological advancements in endoscopic imaging and intervention, the rising demand for minimally invasive surgical procedures, and growing healthcare expenditure worldwide. In the scope of work, the report includes solutions offered by companies such as Olympus Corporation, Ethicon, Inc. (Johnson & Johnson), Stryker, Boston Scientific Corporation, FUJIFILM Corporation, KARL STORZ, Smith & Nephew Inc., Medtronic, PENTAX Medical, Machida Endoscope Co., Ltd, and others.

The endoscopy device market is experiencing robust growth globally, largely attributed to by the increasing incidence of gastrointestinal diseases. The increasing prevalence of gastrointestinal conditions, such as colorectal cancer, gastroesophageal reflux disease (GERD), and inflammatory bowel disease (IBD), has led to an increased demand for accurate diagnostic and therapeutic solutions provided by endoscopic procedures. Moreover, the notable shift toward patient-centric healthcare models, coupled with a rising focus on improving patient outcomes and reducing healthcare costs, has propelled the adoption of minimally invasive surgeries facilitated by endoscopy devices.

Additionally, ongoing innovations in endoscopic imaging, navigation, and therapeutic capabilities are expanding the applications of endoscopy across various medical specialties. As healthcare systems worldwide prioritize preventive care and technological advancements, the endoscopy device market is poised to showcase substantial expansion in the coming years. An endoscopy device, or endoscope, is a sophisticated medical instrument used to visually examine the interior of hollow organs or body cavities. The images captured by the endoscope are displayed on a monitor, allowing real-time visualization for diagnostic and therapeutic purposes.

The endoscopy device market encompasses the manufacturing, distribution, and utilization of medical devices designed specifically for diagnostic and therapeutic procedures within the gastrointestinal (GI) and other anatomical systems. These devices include various endoscopes, such as gastroscopes, colonoscopes, bronchoscopes, and cystoscopes, along with accessories such as light sources, cameras, and biopsy forceps, as well as auxiliary equipment utilized during endoscopic procedures. Endoscopy devices find applications across a wide range of medical specialties, including gastroenterology, pulmonology, urology, gynecology, and otolaryngology. These devices enable healthcare professionals to visualize internal organs and structures, perform biopsies, and deliver therapeutic interventions in a minimally invasive manner.

Analyst’s Review 

The growth of the endoscopy device market is propelled by ongoing technological advancements aimed at developing innovative solutions. Key manufacturers are consistently innovating to enhance endoscopic devices for the improved treatment and diagnosis of various chronic disorders. These advancements in endoscopic technology are expected to address challenges associated with chronic disorders, offering more effective and efficient diagnostic and treatment options.

Manufacturers are focused on integrating cutting-edge technologies into endoscopic devices to enhance imaging quality, improve maneuverability, and enable minimally invasive procedures. By investing in research and development, manufacturers aim to introduce new features and capabilities that meet the evolving needs of healthcare providers and patients. This innovation-driven approach is anticipated to support better patient outcomes and further contribute to the growth of the endoscopy device market.

Endoscopy Device Market Growth Factors

The continuous innovation in endoscopic lenses and imaging systems, including the use of specialized lenses for enhanced stereoscopic vision, and the development of advanced imaging systems and sensing technologies, is augmenting the growth of the endoscopy device market. These advancements are aimed at improving imaging resolution and visualization of patient lesions, thereby reducing misdiagnosis by healthcare professionals and facilitating personalized diagnosis and treatment through endoscopic devices. As mechanical structures of medical endoscopes and imaging technologies continue to evolve and mature, the market is poised to witness the emergence of more sophisticated and effective medical endoscopic devices in the foreseeable future.

Moreover, despite being minimally invasive, endoscopic procedures are prone to exhibit risk, including potential complications such as infections, bleeding, or perforation of the examined organs. The complexity of these devices further requires specialized training for healthcare professionals, which is expected to limit their availability and proper use. However, minimally invasive surgeries, facilitated by advanced endoscopy devices, offer numerous benefits, including reduced post-operative pain, shorter hospital stays, faster recovery times, and improved cosmetic outcomes.

Furthermore, the continuous evolution of endoscopy technologies has expanded the scope and applicability of minimally invasive surgeries across various medical specialties. Innovations such as advanced imaging capabilities, robotic-assisted systems, and customizable endoscopic tools enable healthcare providers to perform increasingly complex procedures with greater precision and effectiveness, thereby fostering market expansion.

Endoscopy Device Market Trends

The trend towards miniaturization in endoscopy devices reflects a commitment to enhancing patient care, reducing procedural discomfort, and optimizing clinical outcomes through innovative design and technology in the field of medical instrumentation.  This considerable shift toward miniaturization aligns with broader industry efforts to promote minimally invasive techniques in healthcare. Compact endoscopy devices allow for more precise and targeted examination or treatment of internal organs and structures while minimizing tissue trauma and the risk of complications. By reducing the size of the endoscope's operating component, manufacturers aim to minimize stimulation and discomfort when navigating through narrow and delicate anatomical spaces within the body. This reduction in size enhances patient comfort during endoscopic procedures and accelerates post-procedure recovery times.

A notable trend in the endoscopy device market is the semi-automation of endoscopic procedures for interventional diagnosis. This trend involves the integration of image processing methods supported by computer technology directly into medical endoscopes, alongside the development of computer-assisted semi-automatic diagnosis systems. By leveraging these advancements, healthcare providers are reducing their dependence on the sole expertise of physicians and enhance the accuracy of diagnosis and treatment. The integration of image processing methods into endoscopes enables real-time analysis and interpretation of visual data captured during procedures. Additionally, the development of computer-assisted diagnosis systems provides healthcare professionals with valuable decision support tools, aiding in the interpretation of complex endoscopic images and improving diagnostic accuracy.

Segmentation Analysis

The global endoscopy device market is segmented based on application, type, end-user, and region.

By Application

Based on application, the market is segmented into gastroenterology, gynecology, bronchoscopy, laparoscopy, arthroscopy, and others. The gastroenterology segment led the market in 2023, reaching a valuation of USD 8.88 billion. The rising aging population and the increasing burden of functional gastrointestinal illnesses are leading to the increased demand for gastrointestinal endoscopy devices in modern healthcare. These devices play a crucial role in diagnosing and treating a wide range of gastrointestinal conditions, thereby improving patient outcomes and overall quality of life. Conditions such as gastroesophageal reflux disease (GERD), irritable bowel syndrome (IBS), and colorectal cancer are more common in elderly individuals, resulting in the rising need for diagnostic and therapeutic interventions provided by gastrointestinal endoscopy devices.

Furthermore, functional gastrointestinal illnesses, encompassing a range of disorders that affect the normal functioning of the digestive system without identifiable structural abnormalities, contribute significantly to the prevalence of gastrointestinal diseases. These conditions often require thorough diagnostic evaluations, including endoscopic procedures, to identify underlying causes and guide treatment decisions. The rising incidence of gastrointestinal illnesses, coupled with a growing geriatric population, is expected to fuel the growth of the segment.

By Type

Based on application, the market is segmented into endoscopes, endoscopy visualization systems, operative devices and others. The endoscopes segment is expected to register a valuation of USD 25.15 billion by 2031. The prominence of endoscopes is attributed to a surge in awareness and adoption rates of endoscopic procedures across various diagnostic and therapeutic applications.

Endoscopes serve as indispensable tools in complex medical conditions such as cancer, gastrointestinal disorders, urinary disorders, and lung disorders. Their versatility and efficacy in providing detailed visualizations and enabling precise interventions are propelling their widespread adoption among healthcare professionals. By facilitating minimally invasive procedures, endoscopes offer patients less discomfort and quicker recovery times and enable healthcare providers to achieve more accurate diagnoses and deliver targeted treatments. These applications of endoscopes are anticipated to contribute significantly to the expansion of the segment.

By End User

Based on end user, the market is classified hospitals, clinics/ambulatory surgery centers and other end users. The hospitals segment is projected to witness significant growth, recording a CAGR of 6.20% through the forecast period. Endoscopy devices play an integral role across various medical specialties within hospital settings. Specifically, in gastroenterology, instruments such as gastroscopes and colonoscopes are indispensable for diagnosing and treating gastrointestinal conditions. These devices enable healthcare professionals to conduct direct visualizations of the digestive tract, facilitating both diagnostic procedures and therapeutic interventions. As healthcare providers continue to prioritize minimally invasive procedures and patient-centered care, the demand for endoscopy devices in hospitals is expected to increase in the forthcoming years.

Endoscopy Device Market Regional Analysis

Based on region, the global endoscopy device market is classified into North America, Europe, Asia-Pacific, MEA, and Latin America.

Endoscopy Device Market	Size & Share, By Region, 2024-2031

The North America Endoscopy Device Market share stood around 34.56% in 2023 in the global market, with a valuation of USD 10.67 billion. The rising demand for endoscopic procedures in the region is attributed to the growing prevalence of various chronic diseases, including cancer, diabetes, and cardiovascular diseases, as well as functional gastrointestinal disorders. The region's burgeoning geriatric population, charaterized by a igher susceptibility to chronic ailments among elderly individuals, is further contributing to the regional market growth.

Moreover, the rising awareness of the benefits of early disease diagnosis, coupled with the preference for minimally invasive procedures, has fueled the adoption of endoscopic techniques in these regions. Additionally, improvements in healthcare infrastructure are expected to stimulate regional market growth. The availability of innovative and smart endoscopy facilities and skilled healthcare professionals are enhancing the accessibility and affordability of endoscopic procedures, leading to their widespread adoption in the region.

Asia-Pacific is projected to experience significant growth at a CAGR of 7.39%over the forecast period. This growth is primarily fostered by the region's large population and the increasing prevalence of functional gastrointestinal disorders. As awareness of these disorders grows and access to healthcare improves, there is a rising demand for minimally invasive endoscopic procedures, further propelling regional market expansion. Moreover, the ongoing improvements in healthcare infrastructure are contributing to the expansion of the Asia-Pacific endoscopy device market. The availability of advanced medical facilities and skilled healthcare professionals is making endoscopic procedures more accessible and affordable for patients, thereby increasing their adoption in the region.

Competitive Landscape

The global endoscopy device market report will provide valuable insight with an emphasis on the fragmented nature of the industry. Prominent players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their market shares across different regions. Strategic initiatives, including investments in R&D activities, the establishment of new manufacturing facilities, and supply chain optimization, could create new opportunities for market growth.

List of Key Companies in Endoscopy Device Market

  • Olympus Corporation
  • Ethicon, Inc. (Johnson & Johnson)
  • FUJIFILM Corporation
  • Stryker
  • Boston Scientific Corporation
  • Smith & Nephew Inc
  • Medtronics
  • PENTAX Medical
  • Machida Endoscope Co., Ltd

Key Industry Developments

  • March 2024 (Partnership): Scivita Medical Technology Co., Ltd. and Boston Scientific Corporation, a leading global medical technology company, collaborated  by signing an expanded strategic cooperation agreement aimed at strategic co-development and global distribution initiatives,  which included collaborating on the co-development of future endoscopic devices and exploring global distribution opportunities for Scivita Medical's single-use endoscope and imaging devices.
  • October 2023 (Product Launch): Olympus Corporation, a leading player in medical technology, launched its next-generation EVIS X1endoscopy system. This system was designed to significantly enhance the diagnosis and treatment of gastrointestinal (GI) conditions.

The Global Endoscopy Device Market is Segmented as:

By Application

  • Gastroenterology
  • Gynecology
  • Bronchoscopy 
  • Laparoscopy
  • Arthroscopy
  • Others

By Type

  • Endoscopes
  • Endoscopy Visualization Systems
  • Operative Devices
  • Others

By End User

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

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • U.K.
    • Spain
    • Germany
    • Italy
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
  • Rest of Asia-Pacific
    • Middle East & Africa
    • GCC
    • North Africa
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
  • Check Icon Additional Company Profiles
  • Check Icon Additional Countries
  • Check Icon Cross Segment Analysis
  • Check Icon Regional Market Dynamics
  • Check Icon Country-Level Trend Analysis
  • Check Icon Competitive Landscape Customization
  • Check Icon Extended Forecast Years
  • Check Icon Historical Data Up to 5 Years
Frequently Asked Questions (FAQ's)
The global market is projected to reach USD 50.50 billion by 2031, growing at a CAGR of 6.45% from 2024 to 2031.
The global market was valued at USD 30.87 billion in 2023.
The growing innovation in endoscopic technologies, and a rising demand for minimally invasive surgical procedures is anticipated to fuel the market growth.
Top manufacturers of endoscopy are Olympus Corporation, Ethicon, Inc. (Johnson & Johnson), Stryker, Boston Scientific Corporation, FUJIFILM Corporation, KARL STORZ, Smith & Nephew Inc, Medtronic, PENTAX Medical, Machida Endoscope Co., Ltd and others.
Asia-Pacific is the fastest growing region with the CAGR of 7.39% in the forecasted period (2024-2031) with the market value forecasted to reach at USD 11.71 billion.
By application, gastroenterology will hold the maximum share in the endoscopy device market with the revenue value of USD 13.69 billion in 2031.
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