global endoscopy procedures estimates market is expected to grow at 1.5% CAGR, reaching US$ 223 Mn in 2021

UNITED STATES, May 17, 2022 /EINPresswire.com/ -- During the forecast period, 2022- 2032, the global endoscopy procedures estimates market is expected to grow at 1.5% CAGR, reaching US$ 223 Mn in 2021. This industry is projected to reach a market size worth US$ 263 Mn by 2032 at the current rate, according to a Fact.MR report.

The COVID-19 pandemic in 2020 has led to a reduction in the use of endoscopic procedures compared with 2019. Government guidelines recommended canceling all elective surgeries, which resulted in a drop in surgeries. At the end of 2020, there was a shortage of healthcare professionals in major geographic regions, resulting in a decline in endoscopy procedures.

A growing number of cancers and gastrointestinal disorders, and the preference for minimally invasive procedures are expected to accelerate the adoption of endoscopic surgery over the forecast period. Following the implementation of COVID, the number of endoscopic procedures is expected to increase due to technological advances and the increasing burden of chronic non-communicable diseases.

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Key Takeaways from the Market Study
• The market is expected to reach a valuation of US$ 263 Mn by the end of 2022.
• As a result of the pandemic, endoscopy procedure estimates decreased by 46% from 2019 to 2021.
• It is projected that the procedure will grow by roughly 2% to 3% annually over the next decade.
• The Asia Pacific region held the largest share of global estimates in 2021, and it is expected to keep the position with more than 44% in 2022.
• With a 32% share of the market, the gastroscopy segment is expected to dominate the market in 2022.

What are the Specific Drivers of the Endoscopy Procedures Estimates Market?
The growing preference for minimally invasive surgery over conventional methods will also lead to more endoscopic surgeries. Over the forecast years, global market growth is expected to be boosted by the increasing number of surgeries performed. In addition to being less invasive, minimally invasive surgery is safer. It is performed using procedures with smaller incisions, that results in less trauma to the body and less blood loss.

Secondly, the scarring after such a procedure is reduced. Globally, there are over 310 million major medical procedures performed each year, of which over 40 to 50 million are performed in the U.S. and over 20 million in Europe, according to data published in the International Journal of Surgery.

What will be the Growth Outlook in North America?
By 2032, the North American market is expected to account for the second-highest share of endoscopic procedures, growing at a CAGR of 4%. The high prevalence of endoscopic surgeries and the widespread use of minimally invasive endoscopic surgery will contribute to the region's growth.

A rise in functional gastrointestinal disorders, as well as irritable bowel syndrome, will also contribute to the growth of the region. For example, according to the International Foundation for Gastrointestinal Disorders Statistics, Irritable Bowel Syndrome (IBS) is the most common gastrointestinal disorder in the United States, with between 2.4 and 3.5 million physician visits a year for the diagnosis and treatment of the disorder.

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Key Segments Covered in the Endoscopy Procedures Estimates Industry Survey
By Application :
• Colonoscopy
• Gastrointestinal (GI) Endoscopy
• Laparoscopy
• Bronchoscopy
• Gastroscopy
• Duodenoscopy
• Cystoscopy

Key Companies Profiled
• China Resources Phoenix Healthcare Holdings Company Limited
• Tenet Healthcare Corporation
• Surgical Care Affiliates
• AMSURG Corporation
• Ramsay Health Care
• Apollo Hospitals Enterprise Ltd
• IHH Healthcare Berhad

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More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the endoscopy procedures estimates market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of application (colonoscopy, gastrointestinal endoscopy, laparoscopy, bronchoscopy, gastroscopy, duodenoscopy and cystoscopy) across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).

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