Endoscopy Equipment Market in terms of revenue was estimated to be worth $32.3 billion in 2024 and is poised to reach $46.2 billion by 2029, growing at a CAGR of 7.4% from 2024 to 2029 according to a new report by MarketsandMarkets™. The growth in this market is primarily driven by factors such as increasing prevalence of gastrointestinal diseases, rising demand for minimally invasive surgeries, technological advancements leading to enhanced imaging and procedural capabilities, expanding healthcare infrastructure, and growing awareness about early disease diagnosis and treatment.
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“Based on product, the endoscopes segment is expected to account for the largest share of the endoscopy equipment market.”
In the forecast period, the endoscopes segment dominated the global endoscopy equipment market. This significant share can be credited to the increasing favouritism of minimally invasive procedures by both patients and healthcare professionals, along with the elevated uptake of such equipment by end users. Moreover, continuous advancements in endoscopy technologies contribute to the segment’s substantial presence in the market.
“On the basis of application, obstetrics/gynaecology endoscopy segment the endoscopy equipment market has accounted the third largest share in the forecast period.”
Based on application, the obstetrics/gynecology endoscopy segment of the endoscopy equipment market accounted the third largest market share in the forecast period. This growth subjected to the rising incidence of gynaecological conditions like endometriosis, uterine fibroids. Technological improvements in visualization systems and endoscopes, accessories tools like grasping tools are driving the growth of the gynecology endoscopy segment as well.
“Based on end user, ambulatory surgery centers/clinics segment holds the second-highest market share in the endoscopy equipment market”
Ambulatory surgery centers/clinics secure the second-largest market share in the endoscopy equipment market. This largest share comes from the increasing trend towards outpatient procedures due to their convenience and cost-effectiveness. Additionally, the rising demand for minimally invasive surgeries in these settings drives the adoption of advanced endoscopy equipment. As ambulatory surgery centers continue to grow in popularity, the demand for endoscopy equipment in these facilities is expected to witness steady growth in the foreseeable future.
“Based on Region, Europe to possess the second largest market share in the endoscopy equipment market during the forecast period”
Europe to possess the second largest market share in the endoscopy equipment market in the forecast period due to its rising investments towards medical technology, high adoption rates of advanced medical technologies, and increasing prevalence of gastrointestinal diseases. These factors drive demand for endoscopy equipment, positioning Europe as one of the leading market regions.
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Endoscopy Equipment Market Dynamics:
Drivers:
1. Growing focus of hospitals to invest in technologically advanced endoscopy instruments and expand endoscopy units
Restraints:
1. High overhead costs of endoscopy procedures with limited reimbursement in developing countries
Opportunities:
1. Booming healthcare sector in developing economies
Challenge:
1. Shortage of trained physicians and endoscopicts
Key Market Players of Endoscopy Equipment Industry:
Prominent players in the endoscopy equipment market include Olympus Corporation (Japan), KARL STORZ SE & Co. KG (Germany), Boston Scientific Corporation (US), JOHNSON & JOHNSON (US), Stryker Corporation (US), Medtronic, plc (Ireland), Fujifilm Holdings Corporation (Japan), HOYA Corporation (Japan), Nipro Corporation (Japan), Smith & Nephew plc (UK), Intuitive Surgical, Inc. (US)
A breakdown of the primary participants (supply side) for the endoscopy equipment market referred to for this report is provided below:
- By Company Type: Tier 1–35%, Tier 2–20%, and Tier 3–45%
- By Designation: C-level–45%, Director Level–25%, and Others–30%
- By Region: North America–36%, Europe–26%, Asia Pacific–21%, Latin America-10%, and Middle East & Africa_ 7%
Recent Developments of Endoscopy Equipment Industry:
- In November 2023, Olympus Corporation launched the EVIS X1, an advanced endoscopy system in the existing product portfolio of the company.
- In September 2023, Stryker launched, 1788, a minimally invasive surgical camera, offering more vibrant image with balanced lighting.
- In January 2022, The Johnson & Johnson Medical Devices Companies (JJMDC) collaborated with Microsoft Corporation Inc, (US) to enable and expand JJMDC’s secure and compliant digital surgery ecosystem.
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