Endoscopy Devices Market Trends

Growth Drivers

Rising Geriatric Population - Endoscopic retrograde cholangiopancreatography (ERCP) is a frequently used endoscopic treatment that diagnoses and treats pancreaticobiliary diseases in older individuals by combining fluoroscopic imaging with luminal endoscopy as the older population suffers more frequently from acute pancreatitis caused by gallstones, ischemic and idiopathic acute pancreatitis,
According to the World Health Organization (WHO), the number of individuals 60 years of age and over will increase to 2.1 billion worldwide by 2050.
Growing Number of Surgical Procedures- Physicians utilize endoscopy including laparoscopy and arthroscopy for many purposes such as imaging, surgery, and other applications.

For instance, more than 300 million major surgical procedures are carried each annually worldwide.

Increasing Popularity of Minimally Invasive Procedures- Endoscopies are minimally invasive treatments that allow doctors to see within the body without creating any incisions whereby endoscopy instruments are directly put into organs through anus or mouth openings.

Challenges

Risk of Acquiring Viral Infections - Fiberoptic endoscopes which are currently the most common endoscopic instruments used in clinical practice are linked to bacterial infection outbreaks which can be acquired outside or internally through contaminated equipment or from endoscopic staff members to patients. The development of sophisticated non-autoclavable fiberoptic endoscopes has made sterilizing the instrument technically impractical as a consequence there are issues regarding the appropriate cleaning of flexible scopes, which raises the possibility of endoscopic infection transmission.
Furthermore, the medical community is concerned about the spread of infectious organisms during gastrointestinal endoscopies therefore all healthcare workers in the endoscopy room need to receive instruction in and abide by accepted practices for infection prevention and control.
Exorbitant Costs Associated with Advanced Endoscopy Devices Limit their Accessibility
Unavailability of Highly Skilled Medical Professionals Can Hinder Safe Utilization of Endoscopy devices

Endoscopy Devices Market: Key Insights

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	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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 Trends