Endoscopy Devices Market Size, Share & Trends Analysis Report By Product, By Application, By End Use, By Region (North America, Europe, Asia Pacific, Latin America, MEA), And Segment Forecasts, 2023 - 2030

Report Overview

The endoscopy devices market size was valued at USD 45.6 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 7.5% from 2023 to 2030.The less invasive properties and affordable post and pre-procedure cost of endoscopy devices are the major factors anticipated to boost the market growth over the forecast period. Furthermore, a shift in trend to use disposable endoscopic components to minimize the procedure cost as well as the chance of cross-contamination is also expected to accelerate market growth over the years.

In addition, the growing chronic disease burden and increasing geriatric population all over the globe are also anticipated to fuel the adoption of endoscopic devices during the coming years. Moreover, growing medical conditions due to the increasing geriatric population often require endoscopic intervention such as liver abscess, gall stones, endometriosis, and intestinal perforation, which in turn are anticipated to drive the market for endoscopy devices over the forecast years. For instance, as per the Administration on Aging (AoA) of the U.S. Department of Health and Human Services report, about 16% of the population were aged above 65 years during 2019. This number is expected to increase to 21.6% by 2040.

In addition, increasing preference by medical professionals to use technologically advanced endoscopy devices equipped with a high-definition camera and light sources to help physicians analyze internal organs of interest also drives the market. The shift of preference towards minimally invasive surgical procedures than traditional surgeries to reduce hospital stay and minimize post-procedure complications are the major factors anticipated to fuel the demand for endoscopy devices. Hence, factors such as higher patient satisfaction, increased economic viability, and lesser hospital stay are expected to increase the demand for minimally invasive endoscopic interventions in the coming years, thereby accelerating market growth.

Furthermore, the growing burden of cancer all over the world also fuels the adoption of endoscopy devices for the early diagnosis and treatment of the disease. For instance, according to GLOBOCAN 2020 estimates 19.3 million new cancer cases worldwide and almost 10 million death occurred in 2020 due to cancer. In addition, the increasing preference for biopsies for diagnosis and detection of cancer in recent years is also likely to increase the adoption of endoscopic devices, which in turn is anticipated to drive the market for endoscopy devices over the years.

Technological advancement to develop innovative endoscopic devices is also anticipated to accelerate market growth during forecast periods. The key manufacturers are continuously looking forward to innovating advanced endoscopic solutions for better treatment and diagnosis of several chronic disorders. For instance, in August 2021, Fujifilm Holdings Corporation announced the commercial launch of the ELUXEO 7000X endoscopic Imaging System. This advanced imaging system enables real-time visualization of hemoglobin oxygen saturation (StO2) levels in tissue during laparoscopic and/or endoluminal imaging procedures.

COVID19 Endoscopy devices market estimates impact: 3.4% decrease in revenue growth from 2019 to 2020

In addition, the endoscopy devices market has been significantly impacted by the COVID-19 pandemic. The reduction and postponement of elective surgeries due to the fear of COVID-19 infection have negatively impacted the growth of the market for endoscopy devices. In addition, supply chain disruptions, changing regulations for surgical procedures, are some of the factors that also hampered market growth in 2020. For instance, according to an international study published in the Arab Journal of Gastroenterology, Elsevier in 2020, the endoscopic procedure volume was reduced by over 50% of the 85% of the responded countries all over the world during the COVID-19 pandemic.

Product Insights 

The endoscopy visualization systems segment accounted for the largest revenue share of 36.6% in 2022 owing to their wide adoption during endoscopy procedures and increasing application for the visualization and diagnosis of complex disease conditions such as cancer, GI disorders, urinary disorders, and lung disorders. In addition, the availability of next-generation endoscopy visualization systems which enables surgeons to visualize the internal organ of choice with the minimally invasive procedure is further boosting its adoption and signifying higher share to the segment. 

In addition, the endoscopes segment accounted for a CAGR of 9.4% in the market for endoscopy devices during the forecast period. This high growth rate is attributed due to the increasing number of endoscopic procedures coupled with the high adoption of endoscopes to perform surgeries and biopsies for better diagnosis and treatment. The flexible endoscopes segment dominated the endoscopes segment and accounted for a high revenue share in 2021, owing to its high preference of use by medical professionals and its advantages such as safety, increased efficiency, and enhanced ergonomics as compared to rigid endoscopes.

Application Insights

The Gastrointestinal (GI) endoscopy segment dominated the market for endoscopy devices and accounted for a revenue share of 55.3% in 2022. This high share of the segment is attributable to the increasing geriatric population and the growing burden of functional gastrointestinal diseases. In addition, rising preference for endoscopy procedure as first-line treatment for early detection and diagnosis of functional gastrointestinal disorders and the availability of technologically advanced endoscopes are some of the major factors driving the growth of the segment. 

Furthermore, the urology endoscopy segment is anticipated to witness the fastest growth rate over the forecast years owing to the increasing prevalence of chronic urological diseases such as cancer and tumor and the growing number of cystoscopy procedures. For instance, as per the report published by Cancer Research U.K., each year there are about 10,300 new cases of bladder cancer in the U.K. and it is the 11th most common cancer in the U.K. Since cystoscopy is the main diagnostic procedure for bladder cancer, it is anticipated to fuel the segment growth over the forecast years. 

End-use Insights

The hospital's segment dominated the market for endoscopy devices and accounted for the highest revenue share of 47.1% in 2022. Hospitals are generally considered as primary health systems and the increase in preference of hospitals for the diagnosis and treatment of chronic disorders by the patient population is also fueling the segment growth. In addition, a large number of surgeries performed in hospitals including endoscopy procedures also increase the endoscopy devices adoption thereby supporting segment growth.

Furthermore, the ambulatory surgery centers/clinics segment is anticipated to witness the highest CAGR during forecast years. Growing preference for minimally invasive procedures to lower overall cost and reduce the number of days of hospital stays are some of the major factors expected to drive the growth of the segment. In addition, faster recovery time, and minimal discomfort due to the use of less invasive keyhole endoscopic procedures also accelerates the adoption of endoscopy devices in ambulatory surgery centers/clinics, which in turn is anticipated to propel segment growth over the forecast period. 

Regional Insights 

In 2022, North America accounted for the highest revenue share of 41.8% in the market for endoscopy devices. This is attributed due to the growing prevalence of several chronic diseases such as cancer, diabetes, cardiovascular diseases along functional gastrointestinal disorders. In addition, the increasing geriatric population, those who are prone to several chronic disorders also propelling the adoption of endoscopic procedures in this region. Moreover, growing awareness for early disease diagnosis using minimally invasive procedures and improved healthcare infrastructure are further boosting the market growth in this region. 

Furthermore, in Asia Pacific, the market for endoscopy devices is expected to witness the fastest growth rate over the forecast years owing to the large population and an increasing number of functional gastrointestinal disorder patients. In addition, growing demand for the minimally invasive endoscopic procedure and improving health care infrastructure are also anticipated to accelerate the region's growth in the market. Moreover, increasing government initiatives to modernize healthcare facilities and constantly develop a start-up landscape are among the major factors further promoting the growth of the market in the region. 

Key Companies & Market Share Insights 

The high demand for technologically advanced endoscopic products for diagnosis and treatment of several chronic disorders makes the completion intense among the existing players. In addition, growing preference for the minimally invasive procedure with low cost, safety and reduced chance of contamination devices further increase the competition.  Moreover, the top market players also adopting business strategies such as new product launches, collaboration, mergers and acquisitions to increase their product portfolio and market share in the area of endoscopic devices. For instance, in September 2020, PENTAX Medical announced to launch new Ultrasound Video Gastroscopes J10 Series in the U.S. These advanced gastroscopes enable better image quality, increase diagnostic capabilities, and help in effective disease management of the patient. Some of the prominent players in the endoscopy devices market include:

• Olympus Corporation

• Ethicon Endo-surgery, LLC.

• FUJIFILM Holdings Corporation

• Stryker Corporation

• Boston Scientific Corporation

• Karl Storz GmbH & Co. KG

• Smith & Nephew Inc.

• Richard Wolf GmbH

• Medtronic Plc (Covidien)

• PENTAX Medical

• Machida Endoscope Co., Ltd.

Recent Developments

• In July 2023, Smith & Nephew Inc. launched the REGENETEN Bioinductive Implant in India. This development is related to endoscopy devices that are used in rotator cuff procedures to improve patient care

• In July 2023, Olympus Corporation announced the launch of the Endoscopy Human Resources Development Support Project for gastrointestinal disease diagnosis in Kenya to provide endoscopy care solutions

• In June 2023, PENTAX Medical introduced a brushless solution for the automatic pre-cleaning of endoscopy devices that helps to enhance their safety, sustainability, and efficiency

• In May 2023, Stryker Corporation acquired Cerus Endovascular Ltd. to expand its portfolio, and strengthen its presence in the endoscopy devices field for providing the neuro-interventional treatment of intracranial aneurysms

• In February 2023, Karl Storz GmbH & Co. KG declared its acquisition of AventaMed DAC to strengthen its ENT portfolio for offering endoscopic treatment

• In January 2023, FUJIFILM Holdings Corporation introduced two latest products, FushKnife and ClutchCutter in India for expanding its endoscopy solutions portfolio

• In May 2021, Boston Scientific Corporation completed the development of CE Mark for the EXALT^TM Model B Single-Use Bronchoscope. This development resulted in advancement and innovation in the endoscopy field with the aim to improve safety and care for patients

Endoscopy Devices Market Report Scope

Global Endoscopy Devices Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2030. For the purpose of this study, Grand View Research, Inc. has segmented the global endoscopy devices market report on the basis of product, application, end use, and region: 

• Product Outlook (Revenue, USD Million, 2014 - 2030)

  • Endoscopes

    • Rigid Endoscopy Devices

      • Laparoscopes

      • Arthroscopes

      • Urology endoscopes

      • Cystoscopes

      • Gynecology endoscopes

      • Neuroendoscopes

      • Other rigid endoscopes

    • Flexible Endoscopy Devices

      • Upper gastrointestinal endoscopes

      • Colonoscopes

      • Bronchoscopes

      • Sigmoidoscopes

      • Laryngoscopes

      • Pharyngoscopes

      • Duodenoscopes

      • Nasopharyngoscopes

      • Rhinoscopes

      • Other flexible Endoscopy Devices

    • Capsule Endoscopy Devices

    • Disposable Endoscopy Devices

    • Robot Assisted Endoscopy Devices

  • Endoscopy Visualization Systems

    • Standard Definition (SD) Visualization Systems

      • 2D systems

      • 3D systems

    • High Definition (HD) Visualization Systems

      • 2D systems

      • 3D systems

    • Endoscopy Visualization Component

      • Camera Heads

      • Insufflators

      • Light Sources

      • High Definition Monitors

      • Suction Pumps

      • Video Processors

    • Operative Devices

      • Energy Systems

      • Access Devices

      • Suction & Irrigation Systems

      • Hand Instruments

      • Wound Retractors

      • Snares

• Application Outlook (Revenue, USD Million, 2014 - 2030)

  • Gastrointestinal (GI) endoscopy

  • Laparoscopy

  • Obstetrics/gynecology endoscopy

  • Arthroscopy

  • Urology endoscopy (cystoscopy)

  • Bronchoscopy

  • Mediastinoscopy

  • Otoscopy

  • Laryngoscopy

  • Other applications

• End-use Outlook (Revenue, USD Million, 2014 - 2030)

  • Hospitals

  • Ambulatory surgery centers

  • Other end uses

• Regional Outlook (Revenue, USD Million, 2014 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • Italy

    • France

    • Spain

    • Russia

    • Switzerland

    • Denmark

  • Asia Pacific

    • Australia

    • China

    • Japan

    • India

    • New Zealand

    • Thailand

    • Indonesia

    • Malaysia

    • Vietnam

    • Philippines

  • Latin America

    • Mexico

    • Brazil

    • Argentina

  • Middle East Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait

    • Israel

    • Qatar