The latest report by IMARC Group, titled “Endoscopy Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global endoscopy devices market reached a value of US$
40.6 Billion in 2021. Endoscopy devices are minimally invasive (MI) medical devices that are used to diagnose and treat complications associated with visceral organs. They are thin tubes inserted inside the body to observe the internal organs and tissues. Endoscopy devices are used to perform non-surgical procedures, such as imaging and minor surgeries, as these devices are equipped with a camera and light source that assist physicians and medical professionals analyze internal organs of interest. These devices allow operations to be performed on patients and treat complex diseases like cancer.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Endoscopy Devices Market Trends:
The global endoscopy devices market is primarily driven by the increasing prevalence of chronic diseases, including cancer and gastrointestinal infections, that require endoscopic procedures. Besides this, these procedures include reduced post-operative pain, minimal risk of complications, rapid healing, lighter anesthesia, and a shorter hospital stay. Furthermore, rising awareness regarding the benefits associated with novel, minimally invasive (MI) endoscopy devices is resulting in their growing adoption. Besides this, the introduction of modern endoscopic devices, such as capsule endoscopes and robot-assisted endoscopy, that consist of ultra-high-definition visualization systems are propelling the market growth. Furthermore, the increasing utilization of endoscopy devices in arthroscopy, laparoscopy, bronchoscopy, and cystoscopy has escalated its demand across the globe. Looking forward, the market is expected to exhibit a CAGR of
7.5% during the forecast period (2022-2027).
- Based on the type, the market has been segmented into endoscopes, endoscopy visualization systems, endoscopy visualization components, and operative devices.
- On the basis of the application, the market has been classified into gastrointestinal endoscopy, urology endoscopy, laparoscopy, gynecology endoscopy, arthroscopy, and others.
- The market has been categorized based on the end use into hospitals and clinics, ambulatory surgical centers, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Boston Scientific Corporation, Johnson & Johnson International Corporation, FUJIFILM Holdings Corporation, HOYA Corporation, Karl Storz SE & Co. KG, Machida Endoscope Co. Ltd, Medtronic Plc, Olympus Corporation, Richard Wolf GmbH, Smith & Nephew plc, and Stryker Corporation.
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