Endoscopes Market Size, Share & Trends Analysis Report By Product (Flexible Endoscopes, Disposable Endoscopes), By Application, By End-use, By Region, And Segment Forecasts, 2021 - 2028

Report Overview

The global endoscopes market size was valued at USD 11.6 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 9.2% from 2021 to 2028. The growing awareness regarding the benefits of minimally invasive surgeries as compared to open invasive surgeries and the rising prevalence of chronic diseases, such as cancer, heart diseases, and diabetes, are some of the key factors driving the market. In addition, technological advancements with respect to endoscopes and increasing applications in various diagnosis and treatment processes are among the key trends boosting the demand for endoscopes globally. Furthermore, minimally invasive surgeries are driving the utilization of various endoscopic procedures for diagnosis, such as proctoscopy, cystoscopy, and gastroscopy.

Minimally invasive surgeries involve smaller incisions, and therefore they offer numerous advantages, like reduction in pain, low/ minimal or no risk of complications, and quicker pace of recovery as compared to open surgery. In addition, minimally invasive surgeries are affordable or cost-effective and hence result in improved quality of life. This shifting trend to minimally invasive procedures from open surgery is expected to boost the demand for endoscopes, thereby driving the market.

In addition, the emergence of bariatric surgeries with the help of endoscopes, such as endoscopic sleeve gastroplasty, is expected to fuel the market growth during the forecast period. The endoscopic bariatric procedures generally use sutures for stomach restructuring and the process is helpful in the reduction of stomach size by around 70.0%. Thus, a rise in the demand for these bariatric procedures is further expected to propel the demand for endoscopes.

Moreover, the rising prevalence of obesity is one of the major factors boosting the adoption of bariatric surgeries. For instance, according to the estimates of the Organization for Economic Co-operation and Development (OECD), obesity rates are expected to rise significantly by 2030, with the highest rates of obesity reported in the U.S., Mexico, and England. Nearly, 47%, 39%, and 35% of the population in the U.S., Mexico, and England, respectively is expected to be obese by 2030. This is expected to increase the demand for bariatric surgeries, thereby propelling the market growth. 

Furthermore, the rising incidence of cancer is fueling the adoption of endoscopes for various diagnosis and treatment processes. For instance, as per Globocan 2020, the global cancer burden has increased to 19.3 million cases. This increasing prevalence of cancer is expected to increase the demand for biopsies for cancer diagnosis. In addition, endoscopy for biopsies and endoscopic ultrasound are among the procedures preferred for cancer diagnosis. Thus, an increase in the demand for diagnostic endoscopic procedures is expected to propel the market growth during the forecast period.

COVID-19 endoscopes market impact: 1.7% decrease in revenue growth from 2019 to 2020

In addition, the COVID-19 pandemic has impacted the market for endoscopes. The postponement of elective surgeries and the reduction in the number of elective surgeries performed during the pandemic have drastically impacted the market. In addition, changing regulations with a view to curtailing the infection due to virus, along with disruptions in the supply chain, have hampered the market growth during the pandemic. For instance, a multicenter survey conducted in Northern Italy in 2020 demonstrated a near-universal exposure to COVID-19 patients in the endoscopy units of different hospitals. According to the survey, out of a total of 41 endoscopy centers that participated in the survey, 40 (97.6%) centers reported a reduction in endoscopic activities due to the COVID-19 pandemic.

Product Insights

Flexible endoscopes dominated the market with a share of 47.9% in 2020. This is attributed to the growing preference for flexible endoscopes among medical professionals, technological advancements, increased efficiency and safety, and ergonomic features of flexible endoscopes. In addition, these endoscopes are used in numerous procedures, such as upper gastrointestinal endoscopy, colonoscopy, bronchoscopy, sigmoidoscopy, laryngoscopy, pharyngoscopy, duodenoscopy, nasopharyngoscopy, and rhinoscopy, which increase their adoption, thereby fueling the segment growth.

The disposable endoscopes segment is anticipated to grow at the fastest rate during the forecast period. Increasing risk of infections due to the use of conventional reusable endoscopes, technological advancements, and the launch of new products are some of the key factors responsible for the growth of the segment. Moreover, the COVID-19 pandemic has boosted the adoption of disposable endoscopes since these endoscopes are helpful in mitigating the risk of contamination due to reusable endoscopes via an airborne route.

Application Insights

In 2020, gastrointestinal (GI) endoscopy accounted for the largest revenue share of 52.0% owing to the growing geriatric population and the rising burden of gastrointestinal diseases. In addition, an increase in the number of gastroscopies, the rise in the adoption of endoscopes for diagnosis as well as treatment of GI diseases, and the availability of advanced products for gastroscopy are some of the factors driving the segment.

The urology endoscopy segment is expected to expand at the highest CAGR over the forecast period. The growing number of urology surgeries and the increasing prevalence of urologic cancers are among the factors expected to drive the demand for urology endoscopies. In addition, a subsequent increase in the treatment rate is expected to boost the adoption of endoscopic devices in urologic surgeries, thereby propelling the segment growth.

End-use Insights

In 2020, hospitals accounted for the largest revenue share of 47.9% owing to favorable reimbursement policies and a large adoption and utilization of endoscopes in hospital systems. Furthermore, hospitals are the primary health systems in most countries, and hence the number of surgeries performed in hospitals is comparatively higher than in other health systems. This is one of the key factors boosting the growth of the segment.

The ambulatory surgical centers/clinics segment is expected to expand at the highest CAGR over the forecast period. Less time required for endoscopy, minimal discomfort due to the introduction of keyhole surgeries, and faster time of recovery are some of the major factors supporting the demand for endoscopic surgeries or procedures in ambulatory surgical centers/clinics, thereby affirmatively impacting the growth of the segment. Moreover, low cost due to a smaller number of hospital stays is expected to increase the demand for endoscopes in ambulatory centers.

Regional Insights

North America dominated the global market with a revenue share of 42.0% in 2020 owing to the improved healthcare infrastructure, the rising adoption of advanced technologies, and the growing preference for minimally invasive surgeries to curb healthcare spending. In addition, the growing burden of gastrointestinal disorders and cancer in the region is one of the significant factors propelling the market growth. For instance, according to the estimates of the National Cancer Institute (NCI), around 1,806,590 new cases were estimated to be diagnosed in the U.S. in 2020.

The Asia Pacific region is expected to witness lucrative growth over the forecast period owing to the high demand for endoscopic technologies in this region. Some of the other factors contributing to the regional market growth are improving health infrastructure and the growing geriatric population. In addition, rising economic development in the region is one of the major factors responsible for attracting foreign investments. The presence of key players in the region is boosting the visibility and adoption of endoscopes, thereby supporting the market growth.

Key Companies & Market Share Insights

Competition is strong among the existing players owing to the increase in demand for endoscopes for various diagnostic and treatment procedures, coupled with technological advancements. The increasing demand in the market is likely to boost the entry of new companies in the future, propelled by increasing awareness and acceptance of endoscopes and allied technologies.

Furthermore, mergers & acquisitions and strategic alliances with other market players and increasing R&D in the area of endoscopic technologies are some of the initiatives being undertaken by key market players to increase their share in the market. For instance, in 2020, Olympus Corporation announced the launch of its new endoscopy system EVIS X1. This technologically advanced endoscopy system will be helpful in improving outcomes from stomach, esophageal, colon, and bronchial diseases. Some prominent players in the global endoscopes market include:

• Olympus Corporation

•  PENTAX Medical

• Ethicon US, LLC

•  FUJIFILM Holdings Corporation

•  Stryker

•  Boston Scientific Corporation

•  CONMED Corporation

•  Karl Storz GmbH & Co., KG

• Richard Wolf Medical Instruments

• Medtronic

Endoscopes Market Report Scope 

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2014 to 2028. For the purpose of this study, Grand View Research, Inc. has segmented the global endoscopes market report on the basis of product, application, end-use, and region:

• Product Outlook (Revenue, USD Million, 2014 - 2028)

  • Rigid Endoscopes

    • Laparoscopes

    • Arthroscopes

    • Urology Endoscopes

    • Cystoscopes

    • Gynecology Endoscopes

    • Neuroendoscopes

    • Other Rigid Endoscopes

  • Flexible Endoscopes

    • Upper Gastrointestinal Endoscopes

    • Colonoscopes

    • Bronchoscopes

    • Sigmoidoscopes

    • Laryngoscopes

    • Pharyngoscopes

    • Duodenoscopes

    • Nasopharyngoscopes

    • Rhinoscopes

    • Other Flexible Endoscopes

  • Capsule Endoscopes

  • Disposable Endoscopes

  • Robot Assisted Endoscopes

• Application Outlook (Revenue, USD Million, 2014 - 2028)

  • Gastrointestinal (GI) Endoscopy

  • Laparoscopy

  • Obstetrics/Gynecology Endoscopy

  • Arthroscopy

  • Urology Endoscopy (Cystoscopy)

  • Bronchoscopy

  • Mediastinoscopy

  • Otoscopy

  • Laryngoscopy

  • Other Applications

• End-use Outlook (Revenue, USD Million, 2014 - 2028)

  • Hospitals

  • Ambulatory Surgery Centers/Clinics

  • Other End Uses

• Regional Outlook (Revenue, USD Million, 2014 - 2028)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • Italy

    • France

    • Spain

    • Russia

    • Switzerland

    • Denmark

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • New Zealand

    • Thailand

    • Indonesia

    • Malaysia

    • Vietnam

    • Philippines

  • Latin America

    • Mexico

    • Brazil

    • Argentina

  • Middle East Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait

    • Israel

    • Qatar