DUBLIN–(BUSINESS WIRE)–The “Endoscopy Equipment Market by Product (Endoscope (Flexible, Rigid, Capsule, Robot-assisted, Disposable), Visualization Systems (Video Converters, Recorders, Processors), Other endoscopic, Accessories), Application, End User – Global Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
The global endoscopy equipment market is projected to reach USD 40.6 billion by 2027 from USD 28.9 billion in 2022, at a CAGR of 7.0%.
The competitive landscape includes the analysis of the key growth strategies adopted by major players between January 2019 and May 2022. Players in the global endoscopy equipment market have employed various strategies to expand their global footprint and increase their market shares such as agreements, divestitures, expansions, and acquisitions.
The wireless displays and monitors segment is expected to account for the largest share of the visualization systems market
The wireless displays and monitors segment accounted for the largest share of the visualization systems markets in the forecast period. The large share of this segment can be attributed to factor that several medical device manufacturers have commercialized 3D-compatible endoscopes. These devices have significantly enhanced surgical precision and gained attention as they provide extremely accurate three-dimensional images of the area being operated. Technological advancements in these devices are further expected to propel their demand in the coming years.
Gastrointestinal endoscopy segment is expected to account for the largest share of the endoscopy equipment market
Based on application, the gastrointestinal endoscopy segment accounted for the largest share of the endoscopy equipment market in the forecast period. This segment is also expected to witness the highest CAGR of 8.4% during the forecast period. The largest share and the highest growth rate of this segment can be attributed to the significant increase in the number of adults in the US undergoing CRC screening, which is a major market for endoscopy products, is expected to sustain the growth of the GI endoscopy segment. Colonoscopy is a widely used endoscopic procedure in the US, considered the gold standard for colorectal cancer screening; approximately 15 million colonoscopies are performed per year.
Hospitals segment holds the highest market share in the endoscopy equipment market
Based on end user, the hospitals segment is likely to dominate the endoscopy equipment market during the forecast period owing to the growing healthcare sector in emerging economies, the increasing out-of-pocket healthcare expenditure across the world, and the rising demand for endoscopic procedures are the other major factors supporting the growth of the hospital segment.
North America to dominate the endoscopy equipment market during the forecast period
The endoscopy equipment market in North America dominated the endoscopy equipment market in the forecast period. The largest share of North America in the global market is attributed to the favorable reimbursement policies for endoscopic procedures in the high healthcare spending in the country, favorable reimbursement policies for endoscopic procedures, an increased incidence of cancer, constant research on endoscopy techniques, and a high number of FDA approvals for endoscopy systems in the US.
Market Dynamics
Drivers
Surging Requirement for Endoscopy to Diagnose and Treat Target Diseases
Increasing Investments, Funds, and Grants by Governments and Other Organizations Worldwide
Growing Focus of Hospitals to Invest in Technologically-Advanced Endoscopy Instruments and Expand Endoscopy Units
Ongoing Advancements in Endoscopic Technologies to Ensure Patient Safety and Achieve More Accurate Treatments
Rising Requirement of Endoscopy Procedures due to Increased Incidence of Chronic Diseases
Increasing Preference for Minimally Invasive Surgeries
Adoption of Single-Use Endoscopy Instruments to Prevent Infectious Diseases and Offer Increased Safety
Rising Focus of Medical Specialists to Shift from Manual to Automated Endoscopy Reprocessing
Restraints
Unfavorable Healthcare Reforms in US
High Overhead Costs of Endoscopy Procedures with Limited Reimbursement in Developing Countries
High Risk of Viral Infections During Endoscopic Procedures
Opportunities
Booming Healthcare Sector in Developing Economies
Challenges
Product Recalls Witnessed by Major Market Players
Infections Caused by Some Endoscopy Products Offered by Giant Companies
Shortage of Trained Physicians and Endoscopists
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Endoscopy Equipment Market, by Product
6.1 Introduction
6.2 Endoscopes
6.3 Visualization Systems
6.4 Other Endoscopy Equipment
6.5 Accessories
6.5.9 Other Accessories
7 Endoscopy Equipment Market, by Application
7.1 Introduction
7.2 Gastrointestinal Endoscopy
7.3 Laparoscopy
7.4 Obstetrics/Gynecology Endoscopy
7.5 Arthroscopy
7.6 Urology Endoscopy (Cystoscopy)
7.7 Bronchoscopy
7.8 Ent Endoscopy
7.9 Mediastinoscopy
7.9.1 Rising Cases of Lung Cancer, Lymphoma, Tuberculosis, and Lung Infections to Drive Market
7.10 Other Applications
8 Endoscopy Equipment Market, by End-User
8.1 Introduction
8.2 Hospitals
8.3 Ambulatory Surgery Centers/Clinics
8.4 Other End-Users
9 Endoscopy Equipment Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Appendix
Companies Mentioned
Ambu A/S
Arthrex, Inc.
B. Braun Melsungen Ag
Boston Scientific Corporation
Capsovision, Inc.
Carl Zeiss Ag
Conmed Corporation
Cook Medical
Dantschke Medizintechnik GmbH & Co. Kg
Fortimedix Surgical B.V.
Fujifilm Holdings Corporation
Hoya Corporation
Intuitive Surgical, Inc.
Johnson & Johnson
Karl Storz Se & Co. Kg
Laborie Medical Technologies, Inc.
Medtronic, plc
Myelotec, Inc.
Nipro Corporation
Olympus Corporation
Richard Wolf GmbH
Smith & Nephew plc
Steris plc
Stryker Corporation
Teleflex Incorporated
The Cooper Companies, Inc.
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