Global sales of Endoscopy Devices Market in 2021 was held at US$ 44.8 Bn. With 9.0%, the projected market growth during 2022 – 2032 is expected to be significantly higher than the historical growth. Gastrointestinal (GI) Endoscopy is expected to be the highest revenue generating segment, accounting for an expected CAGR of 10.0% during 2022 – 2032.
Key Points Covered in Endoscopy Devices Market Survey:
- Market Estimates and Forecasts (2017-2032)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- COVID-19 Impact on Endoscopy Devices Market and How to Navigate
- Recommendation on Key Winning Strategies
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Due to the growing need for endoscopic devices for various therapeutic and diagnostic procedures, there is a fierce competition among the existing providers of medical devices including endoscopy devices. Furthermore, prominent players’ technological developments in the field of endoscopic devices are raising the stakes even higher. Added to that, prominent market players are forming strategic alliances with other competitors in the form of product launches, mergers and acquisitions, and collaborations, as well as increasing R&D in the domain of endoscopic technologies.
Some of the prominent players in the Endoscopy Devices market include Olympus Corporation, FUJIFILM Holdings Corporation, Stryker Corporation, Boston Scientific Corporation, Pentax Medical, Hoya Corporation, Johnson & Johnson, Karl Storz GmbH & Co. KG, Medtronic Plc, Medrobotics Corporation, Richard Wolf GmbH, and Smith & Nephew Plc.
Some of the recent developments of key Endoscopy Devices providers are as follows:
- In 2021, Fujifilm Holdings Corporation announced the launch of the ELUXEO 7000X System, a novel video imaging technology. This advanced imaging system is beneficial in enabling real-time visualization of the haemoglobin-oxygen saturation levels in the tissues during the endoluminal imaging and/or laparoscopic procedures.
- In 2020, Pentax Medical announced the launch of its innovative J10 series of ultrasound video gastroscopes. This technologically advanced gastroscope with ergonomic design, enhanced maneuverability, and better image quality will be beneficial in delivering both market and clinical needs.
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Market Segments Covered in Endoscopy Devices Market Analysis
· By Endoscopy Devices Type :
- Endoscopy Visualization Systems
- Endoscopy Visualization Component
- Operative Devices
· By Application Type :
- Gastrointestinal (GI) endoscopy
- Obstetrics/ Gynecology endoscopy
- Urology endoscopy (cystoscopy)
- Other applications
· By End-Use Type :
- Ambulatory Surgery Centers
- Other end-uses
· By Region :
- North America
- Latin America
How is Rise of Chronic Illnesses and Growing Geriatric Population Driving the Endoscopy Devices Demand?
Endoscopy market expansion will be fuelled in large part by the growing population around the world. Chronic illnesses such as gastrointestinal disorders, orthopaedic disorders, ophthalmic disorders, and other disorders are common among the geriatric population.
Immunological diseases are also very common among the elderly. Among senior individuals, gastrointestinal endoscopy such as endoscopic retrograde cholangiopancreatography (ERCP), colonoscopy, and esophagogastroduodenoscopy is safe and effective. These considerations are fuelling the demand for technologically sophisticated endoscopic devices as well as increased funding for endoscopic screening and care.
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