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Endoscopes Market Size to Surpass Around USD 20.1 Bn by 2027

The endoscopes market size is expected to surpass around USD 20.1 billion by 2027 from USD 10.23 billion in 2019 with a 8.62% over forecast period 2020 to 2027

/EIN News/ -- OTTAWA, Jan. 14, 2021 (GLOBE NEWSWIRE) -- Precedence Research, Recently Published Report on “Endoscopes Market (By Product: Flexible Endoscopes, Capsule Endoscopes, Robot Assisted Endoscopes, Rigid Endoscopes, Disposable Endoscopes; By Application: Arthroscopy, Urology Endoscopy, Laparoscopy, Gastrointestinal Endoscopy, Bronchoscopy, Mediastinoscopy, Gynecology Endoscopy, Otoscopy, Laryngoscopy, Other; End-User: Ambulatory Surgery Centers, Hospitals, Other) - Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2020 - 2027”.

At present, endoscopy accessories and devices have become vital parts of the global healthcare system. Endoscopes are minimally invasive devices that can be introduced into the openings of the body like the anus or mouth. These devices offer clinical solutions by permitting close inspection of internal organs and body structures. Endoscopes have a tube-like instrument that is introduced straight inside organs that deliver broad details of the organs for study such as bronchi or GI tract.

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Nowadays, the incorporation of gold soldering in place of glue, silver or lead is one of the enhancements taking place in the usage of rigid endoscopes. Gold soldering to attach the front lenses of the equipment’s distal tip offers more robustness against reprocessing detergents. It also evades triggering allergic reactions in patients. Majority of minimally invasive surgical procedures utilized rigid endoscopes including arthroscopes and laparoscopes and with a rod-lens-based optical system. Number of technological developments has meaningfully pushed forward developments in endoscopy benefitting patients and doctors. Developments like joining and merging of dissimilar visualization and imaging approaches such as CT or MRI with endoscopic images, the integration and connection of medical devices in the operating theatre plus merging endoscopic visualization with lasers, instruments, and other technologies and devices are further pushing technology development trends in this marketplace.

Growth Factors

Intensifying need for endoscopic procedure, budding funds, investments, and grants from various government and healthcare organizations, mounting number of hospitals are some of the vital influences pushing the growth of the global endoscopes market. Further, developing hospital spending in endoscopy facilities and numerous technological expansions in the arena of different endoscopes and accessories is further propelling the market revenue growth across the globe. Though, more cost of endoscopy procedures & equipment, unfavorable healthcare reforms few regions and inadequate reimbursement in evolving nations are anticipated to confine the growth global endoscopes market during next few years.

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Snowballing pervasiveness of cancer is one of the important causes subsidizing to the growth of the endoscope market as, mounting incidence of cancer is anticipated to push the need for biopsies in cancer diagnosis. Endoscopic ultrasound and endoscopy for biopsies are the most favored processes in the diagnosis of cancer. As per data revealed by World Health Organization, cancer is the second leading source of death across the globe, amounting for an assessed 9.6 million deaths in 2018, and it is likely to rise to around 22 million by 2034.

Regional Snapshots

North America gathered major revenue chunk in 2019 of the total endoscopy devices market due to high pervasiveness of diseases like colon and bladder cancers, upsurge in inclination for minimally invasive procedures, and upswing in ageing population. Furthermore, swelling implementation of robot-assisted endoscopes utilized for surgical and diagnostic procedures is further subsidizing to growth of market. Asia Pacific is projected to grow promptly on account of existence of ample progression openings in terms of unmet medical requirements for the diagnosis of severe illnesses including cancer among others and expedition for upgraded quality of life in evolving countries in this region.

Report Highlights

  • North America is expected to control the global endoscopy devices market revenue throughout the assessment period closely followed by Europe.
  • Asia Pacific region is expected to drive huge growth in near future.
  • Arrival of endoscopic bariatric surgeries, such as endoscopic sleeve gastroplasty is also estimated to fuel growth of the market in next few years.
  • Accumulative need for colonoscopies and laparoscopies in the U.S. on account of growing frequency of colorectal cancer is further backing the tremendous revenue generation by this region in the global marketplace.
  • GI endoscopy accounted for major market revenue in 2019.
  • Among the product types, flexible endoscopes gathered highest market revenue in 2019

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Key Players & Strategies

System providers are seeking for optimized solutions such as lasers, instruments, or other medical devices. For such tailored solutions, medical-device manufacturers are willing to collaborate with corporations that have proficiency in the manufacturing and development of camera and endoscopes along with image processing technologies. One approach exists for producer is to syndicate private-label and standard products. This permits them to instantly start with endoscopic products with the help of their brand and logo deprived of capitalizing heavily in R&D, thus evading extended development costs and times. Likewise, manufacturers can start on a tailored second generation of OEM products in a very little time, imitating the path for noteworthy progresses in endoscopy by responding quickly to market feedback on first-generation products.

Further, product expansion and development are the key approaches had owed by the principal establishments to fortify their market foothold. Few of the major manufacturers assessed in this research study are Karl Storz GmbH & Co. KG, Fujifilm Holdings Corporation, Olympus Corporation, Boston Scientific Corporation, Conmed Corporation, Medtronic Plc, Hoya Corporation, Stryker Corporation, Johnson & Johnson and Smith & Nephew Plc amongst others.

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