Endoscopy Devices Market Size

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.

Frequently Asked Questions (FAQ)

Increasing prevalence of cancer across the globe and the growing development of advanced endoscopy devices are the major factors driving the growth of the market.

The market size of endoscopy devices is anticipated to attain a CAGR of 5% over the forecast period, i.e., 2024-2036.

The major players in the market are 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., Olympus Corporation, and others.

The endoscopes segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North American region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.

Endoscopy Devices Market Size