Endoscopy Devices Market size is poised to reach USD 52 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of endoscopy devices was USD 35 Billion. The reason behind the growth is impelled by the increasing prevalence of cancer cases across the globe. It has been proved that, endoscopy is the gold standard test for diagnosing stomach cancer. By 2040, there will be more than 27 million new instances of cancer annually worldwide.
The growing development of advanced endoscopy devices is believed to fuel the market growth. For instance, in a recent study conducted in 2022, it is stated that the future of endoscopy is being driven by artificial intelligence, since it is highly sensitive and accurate, and makes it possible to detect and treat early Barrett's neoplasia in a single treatment, and will also be beneficial in the diagnosis and excision of Barrett's esophagus neoplasms.
Growth Drivers
For instance, more than 300 million major surgical procedures are carried each annually worldwide.
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
~5% |
|
Base Year Market Size (2023) |
~ USD 35 Billion |
|
Forecast Year Market Size (2036) |
~ USD 52 Billion |
|
Regional Scope |
|
Device Type (Endoscopes, Endoscopic Operative Device, Visualization Equipment)
The endoscopes segment is estimated to account for 37% share of the global endoscopy devices market by 2036 owing to the rising prevalence of lung disorders. The global prevalence of chronic respiratory diseases is thought to have increased by over 35% during the previous three decades. Additionally, new advancements provide a larger scope of endocopic applications and an increase in the number of obese people who prefer bariatric surgery for weight reduction are among the factors driving the growth.
Besides this, the visualization equipment segment is poised to garner a noteworthy share. Endoscopy visualization system components consist of camera heads, insufflators, a light source, monitors, printers, and video processors that can used in Endoscopic examinations such as bronchoscopy, and cystoscopy to aid in visualization and interpretation of the endoscopic images.
Application (Gastroenterology, Pulmonology, Orthopedic Surgery, Cardiology, ENT Surgery, Gynecology, Neurology)
Endoscopy devices market from the gastroenterology segment is set to garner a notable share. Due to the high prevalence of gastrointestinal disorders, advancements in endoscopic technologies, and growing awareness of the advantages of early detection and treatment for gastrointestinal diseases, the gastroenterology segment is expected to maintain its dominance during the forecast period.
End-Use (Hospitals, Outpatient Facilities)
The outpatient facilities segment is anticipated to gain a substantial market share by the year 2036. Endoscopic diagnostics and therapies are gradually taking the place of invasive surgical procedures in many end-use sectors, including, ambulatory surgery centers, and clinics in order to prevent, detect, diagnose, stage, and treat diseases.
Our in-depth analysis of the global market includes the following segments:
|
Device Type |
|
|
End-Use |
|
|
Application |
|
North American Market Forecast
Endoscopy Devices market in North America is predicted to account for the largest share of 43% by 2036 impelled by the growing rate of endoscopic procedures. This is expected to create a huge demand for endoscopic devices in the region as there are over 4 million Americans who suffer from peptic ulcer disease, a persistent inflammation of the duodenum and stomach. Moreover, the function of endoscopy such as esophagogastroduodenoscopy (EGD) is used to test for the diagnosis of peptic ulcer illness and to determine the location and size of the ulcer. According to estimates, in the United States, more than 6 million upper endoscopies are carried out annually.
APAC Market Statistics
The APAC Endoscopy Devices market is estimated to be the second largest, during the forecast timeframe led by the rising healthcare industry. This has led to the development of efficient endoscopy devices in countries such as India. For instance, in 2023, Fujifilm India introduced ClutchCutter and FushKnife for ESD and EMR operations, and they're made to work with suitable endoscopes and help medical professionals do endoscopic submucosal dissections with efficiency. The value of India's healthcare industry was predicted to be over USD 370 billion dollars by 2022, from roughly 279 billion dollars in 2020.
Author Credits: Radhika Gupta, Shivam Bhutani
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?