Endoscopes Market is Expected to Reach $17.9 bn by 2026
The Endoscopes Market was valued at US$9.32 billion in the year 2018 and is estimated to reach US$17.9 billion by 2026, with a CAGR of 8.5%.
Endoscopy is a non-surgical or a minimally invasive procedure or that involves the insertion of a long tube known as an endoscope into our body either through mouth or anus for visualization or for conducting a surgical procedure. Surgery can be conducted through a small incision in areas such as the abdomen, knees, etc. with the assistance of endoscope and specialized instruments is known as keyhole surgery. Endoscopy is useful for investigational purposes and for conducting surgeries of the gastrointestinal tract, respiratory tract, ear, urinary tract, reproductive tract, etc. Besides, keyhole surgery is conducted in the pelvic or abdominal cavity, joints, chest, etc. Minimal invasiveness, utilizing endoscopy to assess the complexity of the disease, coupling with technological advancements and pertinence for conducting surgical procedures in the geriatric population is supporting the growth of the endoscope market.
According to the World Health Organization (WHO), the geriatric population is expected to rise from 900 million in 2015 to around 2 billion by the year 2050 and by 2020, the geriatric population will outnumber the population of children below 5 years of age. The geriatric population is more prone to injuries and cardiac, digestive and uterine complications, that necessitates minimally invasive procedures involving endoscopes to assess the complications and facilitate necessary treatment at the earliest. There are several endoscopic surgical procedures such as arthroscopy, laparoscopy, etc. enabling a speedy recovery and minimizing surgical trauma. Besides, the procedures are cost-effective, reduces post-surgical complications, increases patient satisfaction and reduce hospital stays. Thus, endoscopic procedures will rise in the forthcoming years fueling market growth.
Endoscopic procedures are also used in removing cancers and tumors, in bariatric surgery to reduce obesity and related problems, thus widening the scope of implementation. Owing to a greater increase in medical complications in the future and preference for minimally invasive treatment is expected to contribute to the CAGR of 8.5% during the forecast period.
The most common endoscopic procedures are upper GI endoscopy, colonoscopy, flexible sigmoidoscopy, liver biopsy, and endoscopic retrograde cholangiopancreatography. Of which, gastrointestinal endoscopic procedures accounted for more than 51% of the total market share attributed to an increase in the GI based complications including cancer, gastroenteritis, intestinal perforation, liver abscess, gall stones, etc. in the recent years due to several lifestyle modifications. Also, the use of endoscopy in urology had increased in recent years owing to an increase in urinary complications and the geriatric population. Both GI and urology complications are prevalent and are on the rise in the North American region contributing to the major market share. In recent times, the involvement of robot assistance in surgeries is being encouraged to enhance the accuracy of the surgical procedures. This is one segment that is expected to make significant strides during the forecast period. The Asia Pacific is the region which has immense potential for the growth of endoscope market during the forecast period owing to its population growth, advancement in health care infrastructure, cost-effectiveness in the surgical procedures, increase in the number of orthopedic related surgeries, geriatric population and health complications such as cancer and other diagnostic therapies.
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Optima Insights provides the latest update on the industry trends, products & pipeline analysis with country, regional and global revenue forecast till the year 2026. The analysis of the market is segmented into Endoscopes type (rigid, flexible, capsule, disposable, robot assisted); Endoscopy visualization systems (standard definition (SD) visualization systems, high definition (HD) visualization systems, ultrasound devices); Visualization components; operative devices; Applications (Gastrointestinal, urology, obstetrics and gynecology, arthroscopy, bronchoscopy, mediastinoscopy, otoscopy, laryngoscopy); End-user (Hospitals & Ambulatory services); Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
Major companies contributing to the Endoscopes Market include Olympus Corporation; Fujifilm Holdings Corporation; Ethicon Endo-Surgery, LLC; Medtronic Stryker Corporation; Richard Wolf GmbH; Boston Scientific Corporation; and Karl Storz and many more…
• Provides a detailed Analysis of the Market Structure along with forecast of the various segments and sub-segments.
• Provides a Comparative Analysis of Key Marketed and Pipeline Products.
• Provides Key Information on Players involved.
• Provides a Complete Overview of Market Segments and the Regional Outlook.
• Provides In-depth Coverage of Key News, including Major Mergers, Acquisitions and Product Development updates such as clinical trial progression updates and regulatory updates.
The Report Provides Key Insights on
- History of the Endoscopes Market, 2015 to 2017
- Forecast of the Endoscopes Market Growth till the year 2026
- The key market drivers, restraints, challenges, future opportunities and the market dynamics driving the Endoscopes Market
- Analysis of potential growth segments which will drive the market
- Landscape analysis of the major companies, and new market entrants and companies which possess disruptive technologies which can change the trend of the entire market
- Key market approaches adopted by the organizations and in-depth intelligence of potential strategies which could alter the market dynamics
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