Endoscopy Equipment Market

Report Overview

The global endoscopy equipment market was pegged at US$ 26.9 billion in 2021 and is expected to witness a CAGR of 7.10% during the forecast period.

Market Fundamentals 

Endoscopy is a procedure that is carried out using equipment known as endoscope. These endoscopes have a camera attached to a long thin tube. The surgeon inserts this device inside the patient’s body by making a small cut or incision. Endoscopy is primarily done for screening of internal bleeding organs, internal cancer tumor diagnosis, and diagnosis of gastroesophageal reflux disease. Endoscopy helps the surgeon remove a small sample of the affected tissue which can be further used for testing, helps the surgeon see inside the body while performing any surgical procedure as well as it can be used for determining cause of abnormal symptoms any person is having. 

Endoscopic procedures are carried out for examination of various body parts including GI tract, chest, abdomen, female reproductive tract, ears, urinary tract, nasal tract, joints of knees, among others. Endoscopy is used to detect cancerous or precancerous lesions, GERD (gastroesophageal reflux disease), ulcers of the stomach lining, Celiac disease, narrowed or partially blocked esophagus, among others.

[342323]

Market Dynamics

The global endoscopy equipment market is mainly driven by rising prevalence of cancer, gastrointestinal diseases, other chronic diseases and increasing preference of minimal invasive surgery compared to open surgery. Launch of technologically developed endoscopy products and increasing adoption of endoscopy in healthcare settings are also playing a pivotal role in contributing to the market growth globally. However, higher cost of endoscopic surgeries, dearth of skilled professionals and lack of proper reimbursement are some of the factors hindering the market growth to a certain extent.

Market Ecosystem

The global endoscopy equipment market has been analyzed from four perspectives: Product, Application, End User, and Region. 

Endoscopy Equipment Market by Product 

Based on product, the market has been segmented into endoscopes, visualization systems, other endoscopy equipment and accessories. Endoscopes are further bifurcated into flexible endoscopes (upper gastrointestinal endoscopes, bronchoscopes, colonoscopes, laryngoscopes, pharyngoscopes, sigmoidoscopes, rhinoscopes and other flexible endoscopes), rigid endoscopes (laparoscopes, gynecology endoscopes, arthroscopes, urology endoscopes, neuroendoscopes, cystoscopes, other rigid endoscopes), capsule endoscope and robot-assisted endoscopes. Similarly, visualization systems are further bifurcated into wireless display & monitors, camera heads, endoscopic light sources, video recorders, video converters, video processors, carts and others. The endoscope segment held largest market share in the year 2021. It is also expected to witness highest CAGR during the forecast period. The highest share of the segment can be attributed to factors such as growing adoption of minimally invasive procedures, incessant technological advancements and increased use of disposable endoscopes. Also, visualization systems expected to show market growth owing to endoscopy market owing to technological advancements in visualization Systems (HD, 2D, and 3D visualization), and introduction of the new visualization system, precise and accurate diagnosis. Additionally rising prevalence of chronic urology disorders, increasing gastrointestinal diseases, and prevalence of new cancer are contributing to market growth. 

Endoscopy Equipment Market by Application

[1212121]

Based on application, the market has been segmented into gastrointestinal endoscopy, laparoscopy, urology endoscopy, gynecology endoscopy, ENT endoscopy, bronchoscopy and other applications. Gastrointestinal endoscopy held largest market share in the year 2020 owing to factors such as rising geriatric population and increasing number of GI related procedures especially increase in bowel cancer screening using colonoscopy. Gynecology endoscopy leads the endoscopy market. Market growth is attributed to prevalence of gynecology diseases, rising cases of cervical cancer, ovarian cancer, and vaginal cancer. Additionally, introduction of new urological endoscopes, technological advancement, and research and development in endoscopes are contributing to market growth. Also, urology endoscopy market expected to second highest growth owing to increasing urological chronic disease, increasing cases of kidney stones, rising patients of urology cancers and increasing cases of urinary tract infection.

Endoscopy Equipment Market by End User

Based on end user, the market has been segmented into hospitals, ambulatory surgical centers and other end users. Hospitals segment held largest market share due to increasing adoption & preference of patients for minimal invasive surgeries and preference of patients to carry out endoscopy surgeries in hospitals compared to ambulatory surgical centers/clinics, mobile endoscopy facilities and office endoscopy service facilities.

Endoscopy Equipment Market by Region

Based on region, the global endoscopy equipment market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America dominated the endoscopy equipment market. The large share of North America in the global market can be attributed to factors such as increasing adoption of minimal invasive surgeries by patients, increasing number of endoscopy-based procedures and rising incidences of cancer especially colorectal cancer. Presence of prominent players in the region as well as new product launches have also contributed to the growth of the market in this region. 

Competitive Landscape

Some of the prominent players operating in the global endoscopy equipment market include:-

• Olympus Corporation
• Stryker
• KARL STORZ SE & Co. KG
• FUJIFILM Corporation
• Medical Devices Business Services, Inc
• Smith+Nephew
• Boston Scientific Corporation
• HOYA Corporation
• Avante Health Solutions
• STERIS, among others

Strategic Developments

• May 17, 2022 - FUJIFILM Healthcare Americas Corporation showcased a number of new innovations for the detection, diagnosis, and treatment of digestive diseases at the 2022 Digestive Disease Week annual conference. Fujifilm’s new technology innovations enable improved polyp detection and visualization of hemoglobin oxygen saturation (StO2) levels, as well as tools for enhancing endoscopic submucosal dissection (ESD) procedures.
• In Sept 2020, Olympus Corporation, launched ENDO-AID, a platform powered by Artificial Intelligence (AI) that also has endoscopy application ENDO-AID CADe, a computer-aided detection for colon
• In Jan 2020, PENTAX Medical, received U.S FDA approval for their IMAGINA Endoscopy System, a endoscopy platform for gastrointestinal procedures at ambulatory surgery centers (ASCs)
• Dec 2019, Boston Scientific Corporation announced U.S. Food and Drug Administration (FDA) clearance of the EXALT™ Model D Single-Use Duodenoscope for use in endoscopic retrograde cholangiopancreatography (ERCP) procedures. The EXALT Model D Duodenoscope is the first and only FDA cleared single-use (disposable) duodenoscope on the market and was granted Breakthrough Device Designation from the FDA to ensure patients and healthcare providers have timely access to this device.

Frequently Asked Questions About This Report