Gastrointestinal Endoscopy Global Market Opportunities and Strategies to 2033

This report describes and explains the gastrointestinal endoscopy market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global gastrointestinal endoscopy market reached a value of nearly $14.64 billion in 2023, having grown at a compound annual growth rate (CAGR) of 4.5% since 2018. The market is expected to grow from $14.64 billion in 2023 to $20.68 billion in 2028 at a rate of 7.1%. The market is then expected to grow at a CAGR of 8% from 2028 and reach $30.41 billion in 2033.

Growth in the historic period resulted from the rising prevalence of gastrointestinal disorders, growing demand for minimally invasive procedures, growing emphasis on early diagnosis and preventative measures and growing adoption of telemedicine. Factors that negatively affected growth in the historic period were high cost of endoscopy procedures.

Going forward, increasing size of the aging population, rising healthcare expenditure, rising demand for early diagnosis of health problems will drive the growth. Factor that could hinder the growth of the gastrointestinal endoscopy market in the future include limited number of skilled healthcare professionals, reductions in free trade and hospital budget constraints.

The gastrointestinal endoscopy market is segmented by product into endoscopes, camera heads, visualization systems, biopsy devices, capsule endoscopes, transmitters and receivers, robot-assisted endoscopes and other products. The endoscopes market was the largest segment of the gastrointestinal endoscopy market segmented by product, accounting for 40.3% or $5.9 billion of the total in 2023. Going forward, the robot-assisted endoscopes segment is expected to be the fastest growing segment in the gastrointestinal endoscopy market segmented by product, at a CAGR of 8.9% during 2023-2028.

The gastrointestinal endoscopy market is segmented by procedures into colonoscopies, esophagogastroduodenoscopies (EGD), flexible sigmoidoscopies, other procedures (ERCP & EUS). The colonoscopies market was the largest segment of the gastrointestinal endoscopy market segmented by procedures, accounting for 55.2% or $102.1 million of the total in 2023. Going forward, the flexible sigmoidoscopies segment is expected to be the fastest growing segment in the gastrointestinal endoscopy market segmented by procedures, at a CAGR of 10.8% during 2023-2028.

The gastrointestinal endoscopy market is segmented by end-user into by hospitals, ambulatory surgery centers or clinics and other end users. The hospitals market was the largest segment of the gastrointestinal endoscopy market segmented by end-user, accounting for 47% or $6.88 billion of the total in 2023. Going forward, the hospitals segment is expected to be the fastest growing segment in the gastrointestinal endoscopy market segmented by end-user, at a CAGR of 7.9% during 2023-2028.

North America was the largest region in the gastrointestinal endoscopy market, accounting for 40.4% or $5.91 billion of the total in 2023. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the gastrointestinal endoscopy market will be Asia Pacific and Western Europe where growth will be at CAGRs of 9.3% and 7.9% respectively. These will be followed by Eastern Europe and North America where the markets are expected to grow at CAGRs of 6.4% and 6.3% respectively.

The global gastrointestinal endoscope market is fairly concentrated, with a few large players operating in the market. The top ten competitors in the market made up to 35.3% of the total market in 2022. The market concentration can be attributed to the presence of few large players in different geographies. Olympus Corporation was the largest competitor with a 12.3% share of the market, followed by Boston Scientific Corporation with 8.2%, Medtronic plc with 6.1%, Ambu A/S with 3.3%, Cook Medical with 2.2%, CONMED Corporation with 1.1%, Steris plc with 0.8%, HOYA Corporation with 0.7%, Stryker Corporation with 0.5% and FUJIFILM Holdings Corporation with 0.2%.

The top opportunities in the gastrointestinal endoscopy market segmented by product will arise in the endoscopes segment, which will gain $2.28 billion of global annual sales by 2028. The top opportunities in the gastrointestinal endoscopy market segmented by procedures will arise in the colonoscopies segment, which will gain $3.3 billion of global annual sales by 2028. The top opportunities in the gastrointestinal endoscopy market segmented by end user will arise in the hospitals segment, which will gain $3.17 billion of global annual sales by 2028. The gastrointestinal endoscopy market size will gain the most in the USA at $1.76 billion.

Market-trend-based strategies for the gastrointestinal endoscopy market include launching new products to provide physicians with advanced tools for visualizing the gastrointestinal (GI) tract, diagnosing diseases and treating disorders, investments in endoscope manufacturing and servicing, technology advances in endoscope drying technology to improve patient safety, integrating latest technologies such as artificial intelligence (AI) into gastrointestinal endoscopy to improve disease detection and treatment, launch of gastrointestinal disease diagnosis projects and strategic partnerships and collaborations.

Player-adopted strategies in the gastrointestinal endoscopy market include enhancing the quality of endoscopic surgery through the launch of new products, expanding its gastrointestinal business by strategic acquisition, launching advanced endoscopy solutions to better serve the industry, launching advanced endoscopy solutions to better serve the industry, contractual partnership agreements to strengthen their position.

To take advantage of the opportunities, the analyst recommends the gastrointestinal endoscopy companies to focus on innovative product launches, focus on strategic investments for market leadership in gastrointestinal endoscopy, focus on technological advancements in endoscope drying for enhanced patient safety, focus on ai integration for advanced disease detection, focus on endoscopes and capsule endoscopes segments for optimal growth, focus on colonoscopies and esophagogastroduodenoscopies (EGD) segments for market growth, participate in trade shows and events, focus on integrated promotion strategies for market visibility and focus on tailored engagement with healthcare professionals.