GVR Report cover Endoscopy Devices Market Size, Share & Trends Report

Endoscopy Devices Market Size, Share & Trends Analysis Report By Product, By Application (Laparoscopy, Bronchoscopy), By End Use (Hospitals, Ambulatory Surgery Centers), By Region, And Segment Forecasts, 2021 - 2028

  • Published Date: Nov, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-3-68038-468-0
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2019
  • Number of Pages: 118

Report Overview               

The global endoscopy devices market size was valued at USD 41.0 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.3% from 2021 to 2028. The shift in the trend of adoption from traditional open surgeries to minimally invasive procedures by healthcare professionals and patients is one of the major factors boosting the market. In addition, other factors promoting growth include the increasing geriatric population, rising prevalence of chronic conditions, and technological advancements in the field of endoscopy devices.

U.S. endoscopy devices market size, by product, 2018 – 2028 (USD Billion)

The increasing prevalence of diseases related to age and rising demand for endoscopic devices in therapeutic and diagnostic procedures are some of the factors driving the market growth. The utilization of such products and devices in the treatment and diagnosis of multiple health conditions is beneficial since it enables minimal intervention, thereby shortening the recovery time. The geriatric population is increasing globally, which age group is more prone to medical conditions that often require endoscopic interventions such as pelvic abscess, liver abscess, endometriosis, gall stones, and intestinal perforation. According to the Administration on Aging (AoA) in 2019, a part of the Administration of Community Living, around 16% of the population in the U.S. were aged above 65 years. This number is projected to increase to 21.6% by 2040. Hence, the rising geriatric population is anticipated to support market growth.

In addition, the growing adoption of minimally invasive surgical procedures has fueled the utilization of different types of endoscopes and endoscopy devices in surgical interventions such as bronchoscopy, laparoscopy, arthroscopy, and cystoscopy. The shift of preference toward minimally invasive surgeries over traditional surgeries can be attributed to factors like economic viability, higher patient satisfaction, reduction in hospital stay, and decreased post-surgical complications. Hence, demand for minimally invasive endoscopic interventions is expected to increase in the coming years, thereby boosting the market growth.

Furthermore, the increasing prevalence of cancer is propelling the adoption of endoscopy devices for various treatment as well as diagnosis processes. For instance, according to statistics published by International Agency for Research on Cancer in 2020, around 1 in 5 people develop some or other form of cancer during their lifetime. In addition, the prevalence of cancer has increased substantially in the past few years and this is likely to increase the demand for biopsies for cancer detection and diagnosis. Moreover, endoscopic ultrasound and endoscopy for biopsies are some of the most preferred procedures for the diagnosis of cancer. Therefore, the rising demand for endoscopies for diagnosis is estimated to boost the growth during the forecast period.

Technological advancements in the field of endoscopy devices are also positively affecting market growth. Major players are keen on providing technologically advanced and innovative endoscopy solutions for better diagnosis and treatment. In 2021, Fujifilm Holdings Corporation announced the launch of the ELUXEO 7000X System, a novel video imaging technology. This advanced imaging system is beneficial in enabling real-time visualization of the hemoglobin-oxygen saturation levels in the tissues during the endoluminal imaging and/or laparoscopic procedures.

In addition, the COVID-19 pandemic has significantly impacted the market. The postponement and reduction in the number of elective surgeries performed during the pandemic have impacted drastically on the market. In addition, changing regulations with respect to surgical procedures, including minimally invasive procedures and supply chain disruptions are some of the other factors that have hampered the growth of the market during the pandemic. According to an international study of endoscopists, published in Elsevier Public Health Emergency Collection in 2020, around 85% of the respondents reduced the procedure volume by over 50% and approximately 2.45% of respondents completely stopped their endoscopy services during the COVID-19 pandemic.

Product Insights

Based on product type, the endoscopy visualization systems segment dominated the market and accounted for a revenue share of 37.4% in 2020. This high share is attributable to benefits provided by high-definition visualization systems for treatment and diagnosis of complex health conditions such as GI disorders, cancer, urinary disorders, and lung disorders and increasing preference of healthcare professionals toward utilizing endoscopy visualization systems for better diagnosis and treatment. In addition, the availability of technologically advanced visualization systems is further boosting the adoption, thereby signifying higher share.

In addition, the endoscopes segment is anticipated to witness the fastest CAGR of 9.2% during the forecast period. This growth is attributable to the increasing number of endoscopic surgeries and biopsies and the availability of different types of endoscopes for better treatment and diagnosis. Within endoscopes, flexible endoscopes accounted for the largest revenue share in 2020, owing to various advantages provided by flexible endoscopes such as safety, enhanced ergonomics, and increased efficiency as compared to rigid endoscopes.

Application Insights

Based on application, the GI (gastrointestinal) endoscopy segment held the highest revenue share of 54.9% in 2020 owing to the growing burden of gastrointestinal diseases and the rising geriatric population. In addition, the increasing number of gastroscopies, rising adoption of endoscopy devices for diagnosis and treatment of GI diseases, and availability of technically advanced products for gastroscopy are some of the factors driving the gastroscopy market.

Furthermore, in applications, the urology endoscopy segment is projected to grow at the fastest growth rate during the forecast period. An increase in urology surgeries and the rising burden of urological cancers are among the factors expected to drive the demand for urology endoscopies. According to data published by Cancer Research UK, bladder cancer accounted for around 3% of the all-new cancer cases in the timespan between 2016-2018 in the country. In addition, increasing the treatment rate substantially is anticipated to fuel the adoption of endoscopic devices in urological surgeries, thereby boosting the market growth.

End-use Insights

In 2020, based on end use, the hospitals segment dominated the market and accounted for the highest revenue share of 47.8%. This high share is attributable to substantially large adoption and usage of endoscopy devices in the hospitals as compared to other healthcare systems and favorable reimbursement policies. Furthermore, hospitals are generally the primary health systems in many of the countries and therefore the number of surgeries performed in hospitals is higher, thereby signifying greater demand and adoption.

Global endoscopy devices market share, by end use, 2020 (%)

In addition, the ambulatory surgery centers/clinics segment is expected to witness the fastest CAGR over the forecast period. Minimal discomfort due to keyhole surgeries, the lesser time required for endoscopy, and faster recovery time are some of the key factors that are supporting the demand for endoscopic interventions or surgeries in the ambulatory surgical centers/clinics systems. This is thereby positively impacting the market growth. Furthermore, reduction in the number of days of hospital stay, leading to lowering of overall costs is yet another factor fueling the demand for surgical procedures at ambulatory centers. This further promotes the adoption and increases demand for endoscopy devices in the market.

Regional Insights

North America dominated the global endoscopy devices market and accounted for the largest revenue share of 42.4% in 2020 owing to the rising adoption of advanced technologies, growing preference for minimally invasive surgeries for reducing overall healthcare spending, and enhanced healthcare infrastructure. In addition, the rising prevalence of cancer, gastrointestinal disorders, and other chronic conditions in the region is also one of the major factors fueling the growth of the market.

Furthermore, Asia Pacific region is expected to exhibit significant growth over the forecast period. This is attributable to the higher demand for endoscopy-related technologies in this region. Some of the other factors are the growing geriatric population and improving health infrastructure. In addition, substantial economic development in the Asia Pacific region is one of the significant factors that attract international investments in the region. Moreover, the presence of key players along with the constantly developing start-up landscape in the region is further promoting the market growth.

Key Companies & Market Share Insights

Competition is intense amongst the existing players due to the rising demand for endoscopy devices for various treatment and diagnostic procedures. In addition, technological advancements in the field of endoscopic devices by key players are further increasing the competition. Furthermore, strategic alliances with other market players in the form of product launches, mergers and acquisitions, and partnerships, as well as increasing R&D in the area of endoscopic technologies are some of the initiatives being undertaken by key market players to increase their market shares. For instance, in 2020, Pentax Medical announced the launch of its innovative J10 series of ultrasound video gastroscopes. The technologically advanced gastroscope with ergonomic design, enhanced maneuverability, and better image quality will be beneficial in delivering both market and clinical needs. 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.

Endoscopy Devices Market Report Scope 

Report Attribute

Details

Market size value in 2021

USD 42.7 billion

Revenue forecast in 2028

USD 69.9 billion

Growth Rate

CAGR of 7.3% from 2021 to 2028

Base year for estimation

2020

Historical data

2014 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, application, end use, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Germany; Spain; France; Italy; Russia; Switzerland; Denmark; China; Japan; India; Australia; New Zealand; Thailand; Indonesia; Malaysia; Vietnam; Philippines; Mexico; Brazil; Argentina; South Africa; Saudi Arabia; UAE; Kuwait; Israel; Qatar

Key companies profiled

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.

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Segments Covered in the Report

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 2028. 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:

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

    • 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

  • Endoscopy Devices Application Outlook (Revenue, USD Million, 2014 - 2028)
    • Gastrointestinal (GI) endoscopy

    • Laparoscopy

    • Obstetrics/gynecology endoscopy

    • Arthroscopy

    • Urology endoscopy (cystoscopy)

    • Bronchoscopy

    • Mediastinoscopy

    • Otoscopy

    • Laryngoscopy

    • Other applications

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

    • Hospitals

    • Ambulatory surgery centers

    • Other end uses

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

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • Italy

      • France

      • Spain

      • Russia

      • Switzerland

      • Denmark

    • Asia Pacific

      • Australia

      • China

      • Japan

      • Australia

      • New Zealand

      • Thailand

      • Indonesia

      • Malaysia

      • Vietnam

      • Philippines

    • Latin America

      • Mexico

      • Brazil

      • Argentina

    • Middle East Africa

      • South Africa

      • Saudi Arabia

      • UAE

      • Kuwait

      • Israel

      • Qatar

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