Endoscopes Market Forecasts to Observe 8.62% CAGR through 2027: Precedence Research

The endoscopes market size is projected to reach a revenue of US$ 20.1 billion by 2027 and is expected to register a CAGR of 8.62% from 2020 to 2027, According to Precedence Research. The research report contains 150+ pages with detailed analysis.

The report provides the overall revenue of the global endoscopes market from 2016 to 2027, considering 2020 as the base year and 2027 as the forecast year. This research report evaluates the endoscopes market on a global and regional level.

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.

The 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.

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

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.

Market Scope:

The endoscopes market report studies market dynamics, status and outlook especially in North America, Europe and Asia-Pacific, Latin America, Middle East and Africa. This research report offers scenarios and forecasts (revenue/volume) and categorizes the market by players, type, application, and region. This report also studies global market prominence, competitive landscape, market share, growth rates market dynamics such as drivers, restraints and opportunities, and distributors and sales channels.

This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers a competitive scenario that comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.

Market Segmentation

By Product

– Flexible Endoscopes
— Bronchoscopes
— Laryngoscopes
— Sigmoidoscopes
— Upper Gastrointestinal Endoscopes
— Duodenoscopes
— Colonoscopes
— Pharyngoscopes
— Nasopharyngoscopes
— Other
– Capsule Endoscopes
– Robot Assisted Endoscopes
– Rigid Endoscopes
— Urology Endoscopes
— Laparoscopes
— Arthroscopes
— Cystoscopes
— Neuroendoscopes
— Other
– Disposable Endoscopes

By Application

Arthroscopy
Urology Endoscopy
Laparoscopy
Gastrointestinal (GI) Endoscopy
Bronchoscopy
Mediastinoscopy
Gynecology Endoscopy
Otoscopy
Laryngoscopy
Other Applications

By End-Use

Ambulatory Surgery Centers
Hospitals
Other

Regional Segmentation

North America (U.S. and Canada)

Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)

Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)

Latin America (Brazil and Rest of Latin America)

Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Why should you invest in this report?

If you are aiming to enter the global endoscopes market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for endoscopes are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2020-2027 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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