Endoscopes Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

The global endoscope market is on track for significant expansion, driven by the increasing prevalence of chronic conditions and advancements in minimally invasive procedures. Projections indicate that the market will grow at a compound annual growth rate (CAGR) of 6.7%, reaching a valuation of US$ 24.71 billion by 2031. For the near term, the market is expected to reach US$ 15.65 billion by 2024.

Convenience and Precision: The Core Benefits of Endoscopic Procedures

Endoscopic procedures offer significant advantages over traditional surgical techniques, including the need for minimal or no incisions, which greatly reduces the risk of infection. Endoscopic methods allow for the diagnosis and treatment of diseases through natural body openings or small incisions, significantly lowering healthcare costs and shortening hospital stays due to their shorter duration and reduced risk of complications.

Rising Prevalence of Chronic Conditions Drives Market Demand

The growing incidence of chronic conditions, particularly gastrointestinal (GI) disorders, is a major driver for the endoscope market. Functional gastrointestinal disorders such as functional dyspepsia, functional constipation, irritable bowel syndrome (IBS), and diverticulosis are increasingly prevalent and are primarily diagnosed and treated through endoscopic procedures. According to a study published in Gastroenterology in 2021, more than 40% of the global population is affected by functional gastrointestinal diseases (FGIDs).

Technological Advancements Enhance Endoscopic Device Performance

Advancements in endoscopic technology have significantly improved the performance, safety, and accuracy of these devices. For instance, the disposable digestive endoscopy system from EndoFresh received 510(k) clearance from the U.S. FDA in 2021, designed to reduce the risk of infections during gastrointestinal treatments. Such innovations are expected to boost the adoption of endoscopic procedures and drive market growth.

Manufacturers are focusing on developing advanced endoscopic devices that offer enhanced functionality and improved user experience. Features such as integrated imaging systems, high-definition cameras, and enhanced maneuverability are being incorporated to improve diagnostic and therapeutic outcomes. These advancements present lucrative growth opportunities for the market.

Increasing Awareness and Favorable Reimbursement Policies Boost Adoption

Rising awareness about the benefits of early disease diagnosis and minimally invasive procedures is driving the adoption of endoscopic devices. Favorable reimbursement policies and an increase in the number of endoscopic devices receiving FDA approval are also contributing to market growth. For example, EndoFresh's disposable digestive endoscopy system aims to lower infection risks during gastrointestinal procedures, reflecting the trend towards safer and more effective endoscopic solutions.

Challenges Hindering Market Growth

Despite the promising growth prospects, several challenges could hinder the widespread adoption of endoscopic devices. One significant barrier is the high cost of advanced endoscopic devices. For instance, the cost of robotic-assisted laparoscopic procedures can be significantly higher than conventional laparoscopic surgeries. According to a study published in the New England Journal of Medicine in 2018, robotic-assisted surgeries were found to be US$ 1,600 more expensive than traditional laparoscopic procedures.

Additionally, the high cost of robotic devices, which can range from US$ 1 million to US$ 2.5 million per unit, and their maintenance costs make these procedures less accessible. The Medical Device Excise Tax (MDET) of 2.3% imposed under the Patient Protection and Affordable Care Act (PPACA) in the U.S. also adds to the cost burden for manufacturers and importers.

The COVID-19 pandemic has further disrupted the market, with significant declines in endoscopic procedures due to infection control measures and supply chain disruptions. A 2021 study by the Cancer Institute of the State of Sao Paulo (ICESP) reported a 55% decrease in endoscopic procedures during the pandemic, with colonoscopy being the most negatively impacted modality. Such factors could limit market expansion during the projected timeframe.

Country-wise Insights

Why is the U.S. Market Booming?

Rising Prevalence of Gastrointestinal Disorders

The U.S. is expected to hold around 91.6% market share in the regional endoscope market by the end of 2023. The market's growth in the U.S. is driven by the rising acceptance of elective endoscopic operations and increased healthcare spending. The growing prevalence of cancer and associated complications also contributes to market expansion. According to the American Cancer Society, approximately 1.9 million new cancer cases were diagnosed in the U.S. in 2021.

Will Germany Be a Lucrative Market for Manufacturers?

Presence of Key Players

Germany is expected to hold about 26.4% market share in the regional market by the end of 2023. The market's growth in Germany is driven by the increasing number of patients with functional gastrointestinal disorders and the presence of major players in the market. The rising demand for minimally invasive endoscopic techniques and improved healthcare infrastructure also contribute to market expansion.

How is China Emerging as a Prominent Market for Endoscopes?

Presence of Large Patient Pool

China is estimated to hold about 50.7% market share in the global endoscope market by 2023. Gastrointestinal cancers remain a significant public health issue in China. A study published in Frontiers in Public Health in 2022 highlighted that stomach cancer, among other GI conditions, is highly prevalent in China. The rising incidence of GI cancers is expected to drive the demand for endoscopic procedures and contribute to market growth.

Key Market Players Include:

• Medtronic Plc.
• Olympus Corporation
• KARL STORZ SE & Co. KG
• Johnson & Johnson
• Fujifilm Holdings Corporation
• Richard Wolf GmbH
• Braun Melsungen Ag
• Stryker Corporation
• PENTAX Medical
• CONMED Corporation
• Boston Scientific Corporation
• Smith & Nephew PLC

Global Endoscopes Market is Segmented as Below:

Product:

• Rigid Endoscope
• Laparoscopes
• Cystoscopes
• Neuroendoscope
• Bronchoscopes
• Sigmoidoscopes
• Laryngoscopes
• Duodenoscopes
• Rhinoscopes
• Arthroscopes
• Other Rigid Endoscope
• Flexible Endoscope
• Upper Gastrointestinal Endoscope
• Upper Gastrointestinal Videoscopes
• Upper Gastrointestinal Fiberscopes
• Colonoscopes
• Video Colonoscopes
• Fiber Colonoscopes
• Bronchoscopes
• Video Bronchoscopes
• Fiber Bronchoscopes
• Sigmoidoscopes
• Video Sigmoidoscopes
• Fiber Sigmoidoscopes
• Laryngoscopes
• Video Pharyngoscopes
• Fiber Pharyngoscopes
• Duodenoscopes
• Video Duodenoscopes
• Fiber Duodenoscopes
• Nasopharyngoscopes
• Video Nasopharyngoscopes
• Fiber Nasopharyngoscopes
• Rhinoscopes
• Video Rhinoscopes
• Fiber Rhinoscopes
• Neuroendoscope
• Cystoscopes
• Video Cystoscopes
• Fiber Cystoscopes
• Laparoscopes
• Video Laparoscopes
• Fiber Laparoscopes
• Other Flexible Endoscope
• Capsule Endoscope
• Colon Capsules
• Esophageal Capsules
• Small Bowel Capsules
• Robot-assisted Endoscope

Application:

• Gastrointestinal (GI) Endoscopy
• Laparoscopy
• Arthroscopy
• Obstetrics/Gynecology Endoscopy
• Urology Endoscopy (Cytoscopy)
• ENT Endoscopy
• Bronchoscopy
• Mediastinoscopy
• Others

Usability:

• Reusable
• Disposable

End User:

• Hospitals
• Ambulatory Surgery Centers
• Specialty clinics

Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East & Africa

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