Global Endoscopy Devices Market to Witness CAGR of 7.57% from 2023 to 2031, Anticipated to Reach US$ 45.98 Billion by 2031; says TNR

WILMINGTON, DELAWARE, UNITED STATES, December 4, 2023 /EINPresswire.com/ -- Global Endoscopy Devices Market Synopsis
Endoscopy devices market growth is fueled by rising healthcare expenditures, a growing aging population, and increasing prevalence of gastrointestinal and respiratory disorders. Technological advancements, such as miniaturization and improved imaging, are enhancing diagnostic capabilities, driving demand for endoscopy equipment. Furthermore, the shift towards minimally invasive surgeries is a significant driver in this market.

Read Full Report: Global Endoscopy Devices Market Study

Prior to the COVID-19 outbreak, the endoscopy devices market was on a growth trajectory, influenced by technological advancements, the need for minimally invasive procedures, and the prevalence of chronic conditions. However, the pandemic triggered a significant disruption as healthcare resources pivoted toward managing COVID-19 cases, leading to postponed procedures and supply chain challenges. Despite this, the market showcased resilience as it adapted to the evolving landscape. Post-COVID-19, the market rebounded, driven by a renewed focus on infection control, telemedicine integration, and efficient diagnostics. This highlighted the sector's crucial role in ensuring both patient care and safety during unprecedented times.

Global Endoscopy Devices Market Growth Drivers:
• Minimally Invasive Procedures and Patient Preference: The increasing preference for minimally invasive procedures is a major driver in the endoscopy devices market. A study in the "Journal of Medical Economics" found that patients undergoing minimally invasive surgeries had lower postoperative pain and shorter hospital stays compared to traditional open surgeries. This preference aligns with the shift towards outpatient care models, reducing healthcare costs and hospitalization durations. The demand for endoscopy devices is rising as these procedures offer quicker recovery times, less scarring and improved patient experiences, contributing to market growth.
• Rising Prevalence of Chronic Diseases: The rising incidence of chronic diseases, such as gastrointestinal disorders, cancer, and cardiovascular conditions, fuels the demand for endoscopy devices market. According to the World Health Organization (WHO), non-communicable diseases account for 71% of global deaths. Endoscopy aids in early diagnosis, precise disease staging, and monitoring disease progression. For instance, the "Clinical Gastroenterology and Hepatology" journal reported that endoscopy played a pivotal role in colorectal cancer detection, improving survival rates. This increased need for accurate and timely diagnoses drives the adoption of endoscopy devices, propelling market growth.
• Technological Advancements and Imaging Innovations: Technological advancements in endoscopy devices market are driving market growth through enhanced visualization and diagnostic capabilities. Advanced imaging technologies like confocal laser endomicroscopy (CLE) and virtual chromoendoscopy have improved detection rates of gastrointestinal lesions. A study in "Gastroenterology Research and Practice" indicated that CLE increased the diagnostic accuracy of colon polyps to 90%. These innovations aid in earlier detection, reducing the need for more invasive procedures. Moreover, integration of artificial intelligence (AI) and 3D imaging further refine diagnostic accuracy, elevating the demand for state-of-the-art endoscopy devices in the market.

View Our Press Release

Global Endoscopy Devices Market Recent Developments:
• The endoscopy devices market is constantly evolving with the introduction of new technologies and innovations. Some of the recent developments in the market include the increasing use of robotic endoscopy, the development of virtual reality endoscopy, the development of miniaturized endoscopes, and the development of smart endoscopes.
• The Asia Pacific region exhibits highest growth rate in the endoscopy devices market due to increasing healthcare spending, expanding patient population, and growing awareness about the benefits of endoscopic procedures. Data from the World Bank indicates that several countries in Asia Pacific have been increasing their healthcare expenditure year over year, indicating a growing investment in healthcare infrastructure. Additionally, initiatives to promote medical tourism in countries like India and Thailand have boosted the demand for advanced medical procedures, including endoscopy.

View Our Blog

Global Endoscopy Devices Market: Competitive Landscape and Key Developments
o Boston Scientific Corporation
o CONMED Corporation
o FUJIFILM Holdings Corporation
o HOYA Corporation
o Intuitive Surgical
o Johnson & Johnson Services, Inc.
o KARL STORZ GmbH & Co. KG
o Medtronic
o Olympus Corporation
o Richard Wolf GmbH
o Smith+Nephew
o Stryker
o Other Industry Participants

In March 2023, PENTAX Medical, a sector under the HOYA Group, obtained CE marks for its two recent advancements: the PENTAX Medical INSPIRA, a state-of-the-art video processor, and the i20c video endoscope series. These innovations were designed with a strong emphasis on addressing the requirements of healthcare providers. The cutting-edge video processor remains compatible with PENTAX Medical's most recent endoscope models, while also establishing new benchmarks when used alongside the latest i20c video endoscope lineup.
In May 2022, Auris Health, Inc., a subsidiary of Ethicon, Inc., which belongs to the Johnson & Johnson MedTech family, has revealed that its MONARCH Platform has secured 510(k) clearance from FDA for endourological procedures. This significant approval positions MONARCH as the exclusive and pioneering flexible robotic solution, suitable for application in both bronchoscopy and urology across various specialties. Its purpose is to empower urologists in precisely reaching and visualizing intricate areas within the kidney while maintaining meticulous control.

Global Endoscopy Devices Market:
By Product
o Endoscope
• Rigid
• Flexible
o Mechanical Endoscopic Equipment
o Visualization and Documentation Systems
o Accessories
o Others
By Hygiene
o Single-Use
o Reprocessing
o Sterilization
By Application
o Bronchoscopy
o Arthroscopy
o Laparoscopy
o Urology Endoscopy
o Neuroendoscopy
o Gastrointestinal Endoscopy
o Gynecology Endoscopy
o ENT Endoscopy
o Others
By End User
o Hospitals
o Ambulatory Surgery Centers and Clinics
o Others

By Region
o North America (U.S., Canada, Mexico, Rest of North America)
o Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
o Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
o Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
o Latin America (Brazil, Argentina, Rest of Latin America)

Consult with Our Expert:
Jay Reynolds
The Niche Research
Japan (Toll-Free): +81 663-386-8111
South Korea (Toll-Free): +82-808- 703-126
Saudi Arabia (Toll-Free): +966 800-850-1643
United Kingdom: +44 753-710-5080
United States: +1 302-232-5106
Email: askanexpert@thenicheresearch.com
Website: www.thenicheresearch.com

Jay Reynolds
The Niche Research
+1 302-232-5106
email us here

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.