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The global endoscopic operative devices market size was USD 33.17 Billion in 2022 and is expected to reach USD 60.98 Billion in 2032.

NEW YORK CITY, NY, UNITED STATES, May 1, 2023 /EINPresswire.com/ -- The Endoscopic Operative Devices Market is predicted to experience significant revenue growth, with a rapid revenue CAGR of 7% during the forecast period. The market size was USD 33.17 Billion in 2022 and is expected to reach USD 60.98 Billion in 2032. The rise in chronic diseases and the demand for minimally invasive procedures are the primary factors driving this growth, as well as the need for endoscopic operative instruments due to an increase in endoscopic procedures.

Minimally invasive surgeries have become increasingly prevalent due to the growing number of chronic diseases such as cancer, gastrointestinal problems, and urological ailments. Endoscopic procedures are less invasive, have faster recovery times, produce better results for patients, and cause less discomfort, making them a popular choice for patients. Therefore, there is an increasing need for endoscopic surgical tools to help doctors perform these procedures quickly and effectively.

Technological advancements, such as flexible endoscopes and high-definition cameras, have improved surgical accuracy and visualization of internal organs. These advancements have led to the development of increasingly sophisticated endoscopic surgical tools, such as electrosurgery instruments, flexible endoscopes with multiple channels, and advanced imaging systems.

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The elderly population's increasing medical needs, including surgeries, due to the higher likelihood of developing chronic conditions, is another factor driving the market's revenue growth. The healthcare industry's expansion and increased healthcare spending by public and private institutions have increased the demand for endoscopic surgical instruments.

However, the high cost of endoscopic surgical instruments and a shortage of qualified personnel to operate them are major factors that could impede market revenue growth.

Segments Covered in the Report –

The endoscopic market can be divided into several categories based on product type and end-use outlook. In terms of product type, the market can be categorized as rigid endoscopes, flexible endoscopes, capsule endoscopes, and endoscopic operative device accessories.

Rigid endoscopes are medical instruments with a straight, fixed structure used to examine the body's internal organs. Flexible endoscopes, on the other hand, are more versatile and can bend and curve, making it easier to access and examine hard-to-reach areas. Capsule endoscopes are small, swallowable devices that are used to examine the small intestine. Endoscopic operative device accessories are the tools and accessories used in endoscopic surgeries to help with visualization, tissue removal, and other surgical procedures.

When it comes to the end-use outlook, the market is divided into hospitals, ambulatory surgical centers (ASCs), and others. Hospitals are the primary end-users of endoscopic devices, accounting for the majority of the market share. Ambulatory surgical centers (ASCs) are specialized healthcare facilities that perform same-day surgeries and are equipped with advanced medical devices such as endoscopes. Other end-users include diagnostic centers, clinics, and academic and research institutes.

In conclusion, the endoscopic market is classified into different product types and end-use outlooks, each with its own unique features and applications. These categories are essential in understanding the market dynamics and identifying the opportunities and challenges that come with them. Ultimately, the endoscopic market's growth is driven by increasing demand for minimally invasive procedures, technological advancements, and the rising prevalence of chronic diseases.

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Strategic development:

Several major companies in the medical device industry have made significant moves to expand their product portfolios and market presence in recent years. For instance, in 2021, Olympus Corporation unveiled the Endoeye Flex 3D Articulating Videoscope, a state-of-the-art device that delivers high-quality 3D visualization during endoscopic surgeries. Additionally, Olympus Corporation acquired Arc Medical Design Limited, a UK-based endoscopic device manufacturer, to enhance its product portfolio and market reach.

Similarly, in 2020, Stryker Corporation acquired Wright Medical Group N.V., which is known for its production of surgical devices used in foot and ankle procedures, as well as extremity and biologic solutions. This acquisition was made with the goal of expanding Stryker's offerings in the orthopedic market.

Karl Storz GmbH & Co. KG also made moves in 2020 to strengthen its position in the endoscopic market. The company launched the IMAGE1 S™ 4U camera system, which provides high-resolution images and video during endoscopic surgeries. It also acquired Maxer Endoscopy GmbH, a German manufacturer of endoscopic devices, to broaden its product portfolio.

Fujifilm Holdings Corporation also made an important announcement in 2020 with the launch of the Double Balloon Endoscope, a device that is specifically designed for diagnostic and therapeutic procedures in the small intestine. This device features advanced imaging technologies that enhance visualization during endoscopic surgeries.

Finally, in 2020, Conmed Corporation acquired Buffalo Filter LLC, a US-based manufacturer of smoke evacuation systems used in the surgical market. This acquisition aimed to expand Conmed's product offerings in the surgical market. Overall, these companies' moves demonstrate the highly competitive and innovative nature of the medical device industry.

Competitive Landscape:

The global endoscopic operative devices market is highly competitive, with numerous key players driving innovation in the field. These major players are constantly seeking to improve surgical outcomes and patient care by developing new and innovative endoscopic operative devices.

One of the major players in the endoscopic operative devices market is Olympus Corporation, which recently launched the Endoeye Flex 3D Articulating Videoscope, a device that offers high-quality 3D visualization during endoscopic surgeries. The company has also expanded its product portfolio by acquiring UK-based manufacturer Arc Medical Design Limited.

Stryker Corporation is another key player in the market, having acquired Wright Medical Group N.V. in 2020 to expand its product offerings in the orthopedic market. Karl Storz GmbH & Co. KG has also made significant advances in the field, having launched the IMAGE1 S™ 4U camera system, which provides high-resolution images and video during endoscopic surgeries, as well as acquiring German manufacturer Maxer Endoscopy GmbH.

Fujifilm Holdings Corporation has also made strides in the market, recently launching its new Double Balloon Endoscope, which includes advanced imaging technologies for improved visualization during endoscopic surgeries. Meanwhile, Conmed Corporation has expanded its surgical market offerings by acquiring Buffalo Filter LLC, a US-based manufacturer of smoke evacuation systems.

Other major players in the endoscopic operative devices market include Medtronic Plc, Smith & Nephew Plc, Cook Medical Inc., Boston Scientific Corporation, and Richard Wolf GmbH, all of which are driving innovation in the field with their own advanced endoscopic operative devices.

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In conclusion, the global endoscopic operative devices market is experiencing significant growth due to the increasing demand for minimally invasive surgeries, advancements in endoscopic technology, and a rising prevalence of chronic diseases.

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