As per the report published by Kings Research, the Global Mobile Endoscopic Workstations Market was valued at USD 4,860.86 million in 2022 and is projected to reach USD 7,189.8 million by 2030, growing at a CAGR of 5.13% from 2023 to 2030.
The growth of the global mobile endoscopic workstation market is observed to be increasing due to the prevalence of disorders, cancer, and related diseases of the abdomen, liver, and other adjoining organs on a global scale. In addition, the worldwide shift towards favoring minimally invasive surgical procedures due to their enhanced functionality is also driving the growth of the market. This trend is expected to continue and contribute significantly to the overall expansion of the market. The demand for endoscopic procedures has increased in recent years owing to systems such as early detection of abnormalities, and precision surgeries.
Key Insights
- Based on the end-user, the hospital segment held the largest market share in 2022 accounting USD 2,185.2 million
- Based on product type, the gastrointestinal endoscope segment generated the highest revenue in 2022 attributing 31.46% of the segmental share
- On the basis of region, North America accounted largest market share in 2022 accounting USD 1,885.6 million
Product Development with AI Integration by Olympus
October 2020 – Olympus launched its newest endoscopy system that is integrated with an AI platform. The integration provides inspection of the colon through a computer or AI-aided technology. It also displays real-time suspecting of lesions.
Acquisition of Maxer Endoscopy by Erbe's Business Unit
June 2021 - Erbe Elektromedizin has announced the acquisition of Maxer Endoscopy, a German company that specializes in fluorescence-guided surgeries. This strategically significant acquisition is poised to foster the growth of Erbe's surgical endoscopy business and reinforce its presence in the operating room
Rising Demand for Mobile Endoscopic Workstations in Minimally Invasive Surgeries to Augment Product Growth
The adoption of minimally invasive surgical procedures is on the rise globally, leading to an increased demand for mobile endoscopic workstations. These devices are indispensable for conducting minimally invasive procedures and are distinguished by their compactness, making them versatile in application. The popularity of minimally invasive procedures is driven by a variety of factors, including reduced patient trauma, shorter hospital stays, and faster recovery times.
Adoption of Artificial Intelligence in Mobile Endoscopic Workstations to Offer Lucrative Opportunities
The adoption of artificial intelligence (AI) in mobile endoscopic workstations is observed to gain momentum owing to its potential to improve the efficiency and accuracy of minimally invasive surgical procedures. AI algorithms are utilized in assisting physicians in identifying abnormalities and distinguishing healthy tissue during surgical procedures. This technology also has the capability to analyze vast amounts of medical data, providing physicians with real-time insights that can aid in decision-making. Additionally, AI can improve the overall performance of mobile endoscopic workstations by automating certain processes, reducing the risk of human error, and enhancing patient outcomes. These enhanced workstations are anticipated to provide lucrative opportunities in the upcoming years.
Widespread Adoption of Advanced Technologies Supports North America to Lead the Regional Share
In 2022, North America dominated the regional share, accounting for approximately USD 1,900 million in revenue. The dominance is attributed to factors such as the penetration of advanced cutting-edge technology, advanced healthcare systems, and the adoption of minimally invasive surgical procedures in the region. The U.S. held the largest revenue in North America and is estimated to dominate the region during 2023-2030. Following, U.S., Canada is anticipated to observe a growth rate of 4.17% throughout the forecast period.
Presence of Advanced Healthcare Infrastructure Augments Europe's Share
Europe accounted for the second largest share accounting for more than 28% in terms of revenue. Similar to North America, the presence of advanced healthcare systems providing state-of-art technology diagnosis and treatments are among the few factors that are driving the growth. Market expansion in the region is attributable to strategic collaborations and acquisitions among key market and sub-market players operating in the region. For instance, in January 2021, Olympus signed an agreement of acquiring Veran Medical Technologies Inc.
Market Players Concentrating on Innovative Product Launches to Drive Market Development and Collaborative Deals
The market is consolidated/fragmented with key players such as Ambu A/S, Creo Medical, Capsa Healthcare, Olympus, ARC Group of Companies, SonoScape Medical Corp., Erbe Elektromedizin GmbH, HAEBERLE, Getinge AB, Ecleris, amongst others. Companies employ a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.