Endoscopy Devices Market Size
| Study Period | 2021 - 2029 |
| Market Size (2024) | USD 37.63 Billion |
| Market Size (2029) | USD 51.70 Billion |
| CAGR (2024 - 2029) | 6.56 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Endoscopy Devices Market Analysis
The Global Endoscopy Devices Market size is estimated at USD 37.63 billion in 2024, and is expected to reach USD 51.70 billion by 2029, growing at a CAGR of 6.56% during the forecast period (2024-2029).
Factors such as the rising prevalence of chronic diseases, the growing adoption of minimally invasive surgeries, and major launches by key players in the market are propelling the growth of the endoscopy devices market.
The rising prevalence of various chronic diseases and other diseases is expected to raise the adoption of endoscopy for treatment and diagnosis, thereby boosting the market's growth over the forecast period. For instance, according to the report published by the American Cancer Society in January 2023, about 1.9 new cancer cases were projected to occur in the United States in 2023. Additionally, according to a report by the Red Española de Registros de Cáncer in January 2023, incident cases estimated in Spain for 2023 were 279,260, of which 158,544 were in men and 120,715 in women. Thus, the high burden of cancer cases is further expected to increase the demand for endoscopy devices for diagnostic procedures, thereby boosting the market's growth.
The strategic initiatives by market players to launch innovative endoscopic devices and boost the procedures compensated for market growth in the later phase of the COVID-19 pandemic. For instance, in November 2023, Olympus Corporation launched its next-generation EVIS X1 endoscopy system in China. This marked the availability of the EVIS X1 endoscopy system in all of Olympus’ major markets.
Moreover, in July 2023, Zsquare received the Food and Drug Administration’s 510K clearance to market its first product, the Zsquare ENT-Flex Rhinolaryngoscope. The Zsquare ENT-Flex Rhinolaryngoscope is indicated for use in diagnostic ENT procedures by way of the nose and throat and is the only scalable platform capable of transmitting high-resolution images in flexible, single-use endoscopes. The market is expected to grow in a stable manner during the forecast period.
Furthermore, the growing significance, adoption, and evolution of minimally invasive surgeries worldwide testify to the impact that is steadily being utilized for improving patient outcomes. For instance, according to a report published by the National Library of Medicine in September 2022, a staggering 310 million major surgeries are performed yearly, with around 40 to 50 million in the United States and 20 million in Europe. Such a rise in the adoption of MIS will lead to increased adoption of endoscopy devices during the surgical monitoring of tissues, driving market growth.
Additionally, manufacturers of endoscopy devices are also increasingly focusing on developing technologically advanced endoscopy systems, thereby boosting market growth over the forecast period. For instance, in January 2022, Cook Medical launched its Instinct Plus Endoscopic Clipping Device in the United States. Moreover, in June 2022, Getinge released an updated version of the ED-Flow automated endoscope reprocessor featuring a higher level of digital connectivity and data management for Getinge's endoscope reprocessing customers, which will result in improved uptime and increased productivity.
Thus, owing to factors such as the high burden of chronic diseases, rising technological advancements, and increasing launches by market players, the endoscopy devices market is expected to show significant growth globally over the forecast period. However, the lack of skilled technicians and infections caused by a few endoscopes hinder market growth.
Endoscopy Devices Market Trends
The Flexible Endoscope Segment is Expected to Show Growth in the Forecast Period
A flexible endoscope is an optical instrument that transmits light and carries images back to the observer. Furthermore, these instruments are equipped with flexible transparent fibers. The segment is expected to grow during the forecast period due to the advantages they offer over other alternatives, rising launches, and increasing adoption of flexible endoscopes.
Various chronic diseases, such as inflammatory bowel diseases (IBD), stomach cancer, colon cancer, respiratory infections, and respiratory tumors, require extensive use of endoscopes for diagnostic purposes. Thus, the high prevalence of these diseases leads to a surge in demand for flexible endoscopes. For instance, according to a report published by the American Cancer Society in January 2024, most lung cancer statistics include both small cell lung cancer (SCLC) and non-small cell lung cancer (NSCLC). About 10% to 15% of all lung cancers are SCLC, and about 80% to 85% are NSCLC. Similarly, according to a report published by the American Cancer Society in 2023, 238,340 people were diagnosed with lung cancer. Thus, the high incidence and prevalence of these chronic diseases have led to a surge in demand for flexible endoscopes.
Furthermore, the launches and approvals by market players are expected to propel the segment's growth during the forecast period. For instance, in January 2022, MicroPort Urocare Medical Technology (Jiaxing) Co. Ltd (MicroPort Urocare) received a medical device registration certification for its single-use flexible ureteropelvic electronic endoscopic catheter from the Zhejiang Provincial Drug Administration.
Thus, considerable segment growth is expected over the forecast period due to the increasing prevalence of diseases, several advantages of a flexible endoscope, and rising product approvals.
North America Expected to Hold a Significant Market Share Over the Forecast Period
The high burden of diseases such as cardiovascular diseases, colorectal and stomach cancer, increasing adoption of minimally invasive surgeries, technological innovations, approvals, product launches, and partnerships by market players are expected to drive the endoscopy devices market across North America. For instance, in December 2022, PENTAX Medical America launched a new fast endoscope drying solution - the PlasmaTYPHOONdry. It is designed to improve productivity and traceability; this system further advances endoscope drying to enhance patient safety. The high demand for patient safety is driving the growth of endoscopy devices in the region.
Furthermore, an increase in endoscopic procedures for early diagnosis of gastrointestinal and colorectal cancers is expected to boost the market in the coming years. Most gastrointestinal stromal tumors usually start in the rectum, colon, and esophagus. For instance, as per the American Cancer Society’s (ACS) 2023 report, 21.5 thousand individuals were diagnosed with esophagus cancer, 26.5 with stomach cancer, and 153 thousand with colorectal cancer in the United States in 2023. The high burden of these cancers is expected to propel the demand for endoscopy devices in the nation during the forecast period.
The rising launches and increasing approvals of endoscopy devices in the region are also expected to contribute to market growth during the forecast period. For instance, in July 2022, Zsquare, a developer of single-use endoscopes, received the US Food and Drug Administration’s 510K clearance to market its product, the Zsquare ENT-Flex Rhinolaryngoscope, in the United States. Also, in November 2022, PENTAX Medical, a healthcare industry leader in diagnostic and therapeutic endoscopy solutions, launched the Performance Endoscopic Ultrasound (EUS) system in Canada.
Factors such as the rising product launches and the increasing adoption of minimally invasive imaging and surgeries due to the increased incidence of chronic diseases are expected to boost the market's growth in Canada during the forecast period.
Endoscopy Devices Industry Overview
The market is moderately competitive and consists of several global players. As the market progresses, firms try to achieve clear differentiation in endoscopic systems based on their application. The major market players are Boston Scientific Corporation, Medtronic PLC, Olympus Corporation, Cook Group Incorporated, and Johnson & Johnson.
Endoscopy Devices Market Leaders
-
Medtronic PLC
-
Olympus Corporation
-
Cook Group Incorporated
-
Johnson & Johnson
-
Boston Scientific Corporation
*Disclaimer: Major Players sorted in no particular order
Endoscopy Devices Market News
- November 2023: SonoScape Medical launched the latest addition to its endoscopy product line, the linear echoendoscope EG-UC5T.
- January 2023: AA Medical entered a partnership with Certified Endoscopy Products, a Chicago-based medical device reprocessing company specializing in endoscopic devices. AA Medical and Certified Endoscopy announced plans to form a preeminent medical device reprocessing company serving the endoscopy, orthopedic, and other surgical device markets.
Endoscopy Devices Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Preference for Minimally-invasive Surgeries
4.2.2 Increasing Adoption of Endoscopy for Treatment and Diagnosis
4.2.3 Technological Advancements Leading to Enhanced Applications
4.3 Market Restraints
4.3.1 Lack of Skilled Technicians
4.3.2 Infections Caused by Some Endoscopes
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - in USD Million)
5.1 By Type of Device
5.1.1 Endoscopes
5.1.1.1 Rigid Endoscope
5.1.1.2 Flexible Endoscope
5.1.1.3 Capsule Endoscope
5.1.1.4 Robot-assisted Endoscope
5.1.2 Endoscopic Operative Device
5.1.2.1 Irrigation/Suction System
5.1.2.2 Access Device
5.1.2.3 Wound Protector
5.1.2.4 Insufflation Device
5.1.2.5 Operative Manual Instrument
5.1.2.6 Other Endoscopic Operative Devices
5.1.3 Visualization Equipment
5.1.3.1 Endoscopic Camera
5.1.3.2 SD Visualization System
5.1.3.3 HD Visualization System
5.2 By Application
5.2.1 Gastroenterology
5.2.2 Pulmonology
5.2.3 Orthopedic Surgery
5.2.4 Cardiology
5.2.5 ENT Surgery
5.2.6 Gynecology
5.2.7 Neurology
5.2.8 Other Applications
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Boston Scientific Corporation
6.1.2 CONMED Corporation
6.1.3 Cook Group Incorporated
6.1.4 Richard Wolf GmbH
6.1.5 Johnson & Johnson
6.1.6 Fujifilm Holdings Corporation
6.1.7 Medtronic PLC
6.1.8 Olympus Corporation
6.1.9 Karl Storz SE & Co. KG
6.1.10 Stryker Corporation
6.1.11 Hoya Corporation
6.1.12 Smith & Nephew PLC
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Endoscopy Devices Industry Segmentation
As per the scope of the report, endoscopes are minimally invasive devices and can be inserted into natural openings of the body to observe an internal organ or a tissue in detail. Endoscopic surgeries are performed for imaging procedures and minor surgeries.
The endoscopy devices market is segmented by type of device, application, and geography. By type of device, the market is segmented into endoscopes, endoscopic operative devices, and visualization equipment. By application, the market is segmented into gastroenterology, pulmonology, orthopedic surgery, cardiology, ENT surgery, gynecology, neurology, and other applications. By geography, the market is further segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The report offers the market sizes and forecasts in value (USD) for the above segments.
| By Type of Device | ||||||||
| ||||||||
| ||||||||
|
| By Application | |
| Gastroenterology | |
| Pulmonology | |
| Orthopedic Surgery | |
| Cardiology | |
| ENT Surgery | |
| Gynecology | |
| Neurology | |
| Other Applications |
| Geography | ||||||||
| ||||||||
| ||||||||
| ||||||||
| ||||||||
|
Endoscopy Devices Market Research FAQs
How big is the Global Endoscopy Devices Market?
The Global Endoscopy Devices Market size is expected to reach USD 37.63 billion in 2024 and grow at a CAGR of 6.56% to reach USD 51.70 billion by 2029.
What is the current Global Endoscopy Devices Market size?
In 2024, the Global Endoscopy Devices Market size is expected to reach USD 37.63 billion.
Who are the key players in Global Endoscopy Devices Market?
Medtronic PLC, Olympus Corporation, Cook Group Incorporated, Johnson & Johnson and Boston Scientific Corporation are the major companies operating in the Global Endoscopy Devices Market.
Which is the fastest growing region in Global Endoscopy Devices Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Endoscopy Devices Market?
In 2024, the North America accounts for the largest market share in Global Endoscopy Devices Market.
What years does this Global Endoscopy Devices Market cover, and what was the market size in 2023?
In 2023, the Global Endoscopy Devices Market size was estimated at USD 35.16 billion. The report covers the Global Endoscopy Devices Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Global Endoscopy Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Endoscopy Devices Industry Report
The Endoscopy Equipment Market is segmented by type of device into endoscopes, endoscopic operative devices, and visualization equipment. Additionally, the market is categorized by application into gastroenterology, pulmonology, orthopedic surgery, cardiology, ENT surgery, gynecology, neurology, and other applications. This extensive segmentation allows for a comprehensive market analysis and industry overview.
The market size and value are crucial metrics for understanding the industry trends and market growth. According to industry reports, the endoscopy devices market is expected to experience significant growth. These industry statistics provide insights into the market forecast and market outlook, helping stakeholders make informed decisions.
The market research highlights the importance of understanding the market share and the role of market leaders in shaping the industry. This industry research provides a historical overview and a market forecast outlook, offering valuable market data for strategic planning.
The industry analysis includes a detailed review of the market segmentation by geography, covering North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. This geographical segmentation helps identify market trends and growth opportunities in different regions.
The report example and report PDF download offer a sample of this comprehensive industry analysis. The industry information and market review provide a detailed market value assessment, helping stakeholders understand the industry's current state and future potential.
In conclusion, the endoscopy equipment market is poised for growth, driven by advancements in technology and increasing demand for minimally invasive procedures. The market predictions and industry outlook suggest a positive trend, with significant opportunities for market leaders and new entrants alike.
Endoscopy Devices Market Report Snapshots
