Pune, 6 Dec 2022: According to the Endoscopy Equipment Market report published by Maximize market Research, Endoscopy Equipment Market size was valued at USD 28 Bn. in 2021 and the total Endoscopy Equipment revenue is expected to grow by 8.5 % from 2022 to 2029, reaching nearly USD 54 Bn.
Endoscopy Equipment Market Scope and Research Methodology
The research methodology used to estimate and forecast the Endoscopy Equipment market began with capturing data on key vendor revenues. The market size of individual segments was determined through various secondary sources including industry associations, white papers, and journals. Vendor offerings were also taken into consideration to determine the market segmentation. The bottom-up approach was employed to arrive at the overall size of the market, by considering the Endoscopy Equipment adoption rate and Endoscopy Equipment pricing by key players, which were then verified through primary research by conducting extensive interviews with key industry personnel, for instance Vice Presidents (VPs), directors, and related executives in the market. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and sub segments. SWOT analysis was conducted to understand the strengths and weaknesses of key companies and PESTLE to grasp the various factors affecting the market. Thus, the report provides a complete overview of the Endoscopy Equipment Market.
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Endoscopy Equipment Market Dynamics
The major factors driving up demand for endoscopy devices are the rise in preference for minimally invasive endoscopic operations and an increase in the world’s geriatric population. A rise in the prevalence of urological, gastroenterological, respiratory, and gynaecological illnesses that necessitate endoscopic procedures for optimal treatment and diagnosis is also fueling the market for endoscopes. The market is expected to rise as a result of an increase in the use of endoscopes and visualisation systems in the healthcare sector, as well as technological developments in a related area. The majority of patients who need endoscopic operations are elderly people with conditions like gallstones, intestinal perforations, endometriosis, pelvic abscesses, and liver abscesses. According to a study by the Population Reference Bureau, there were approximately 52 million Americans aged 65 or older in 2018, and that figure is expected to rise to 95 million by 2060. During the projection period, the aforementioned factor is predicted to increase the demand for endoscopic procedures and, as a result, endoscopy devices.
Endoscopy Equipment Market Segment Insights
Based on Product, Widespread use during endoscopy procedures and increasing application for the visualization and diagnosis of complex disease conditions such as cancer, GI disorders, urinary disorders, and lung disorders, endoscopy visualization systems accounted for the largest revenue share of 38.5% in 2021. Additionally, the emergence of next-generation endoscopic visualization technologies, which allow surgeons to see the internal organ of choice with minimally invasive treatment, is increasing its use and indicating a bigger sector share.
Endoscopy Equipment Market Regional Insights
The largest regional sector is North America, followed by Europe and Asia Pacific. Due to its high prevalence of gastrointestinal ailments, geriatric population growth, and high incidence of colorectal diseases, the U.S. dominates the global market for endoscopy equipment. The major nations responsible for the market for endoscopic equipment in Europe’s significant growth are France, Germany, and the United Kingdom.
Thanks to rising interest in minimally invasive procedures, the popularity of medical travel, rising healthcare costs, and the opening of multiple new endoscopic training facilities, Asia Pacific will expand significantly over the coming years.
Endoscopy Equipment Market Segmentation
by Product
- Endoscope
- Visualization System
- Other Endoscope Equipment
- Accessories
by Application
- Gastrointestinal Endoscopy
- Laparoscopy
- Obstetrics/ Gynecology Endoscopy
- Arthroscopy
- Urology Endoscopy (Cystoscopy)
- Bronchoscopy
- Ent Endoscopy
- Mediastinoscopy
- Other Applications
by End User
- Hospitals
- Ambulatory Surgery Centers/Clinics
- Other End Users
Endoscopy Equipment Market Key Competitors are:
- Olympus Corporation
- KARL STORZ SE & Co. KG
- Stryker Corporation
- Boston Scientific Corporation
- JOHNSON & JOHNSON
- Fujifilm Holdings Corporation
- Medtronic Inc.
- Hoya Corporation
- Nipro Corporation
- Smith & Nephew Plc
- Richard Wolf GmbH
- ConMed Corporation
- Intuitive Surgical, Inc.
- Cook Medical
- Ambu A/S
- CapsoVision, Inc.
- Fortimedix Surgical B.V.
- B. Braun Melsungen AG
- Medi-Globe
- The Cooper Companies, Inc.
- Dantschke Medizintechnik
- Laborie Medical Technologies Inc.
- Teleflex Incorporated
- Cantel Medical Corp.
- Carl Zeiss AG
- Arthrex, Inc.
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Key questions answered in the Endoscopy Equipment Market are:
- What is Endoscopy Equipment?
- What is the growth rate of Endoscopy Equipment Market for the forecast period?
- What is the nature of competition in Endoscopy Equipment industry in developed economies and developing economies?
- Who are the key players in the Endoscopy Equipment Market?
- Who are the market leaders in Endoscopy Equipment in Europe
- Who are the market leaders in Endoscopy Equipment in USA and Canada
- Who are the market leaders in Endoscopy Equipment in India, China, Japan and South Korea?
- What are the factors affecting growth in the Endoscopy Equipment Market?
- Who held the largest market share in Endoscopy Equipment Market?
- What are the factors for the growth of Asia-Pacific region in Endoscopy Equipment Market?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Route of administration, Application, Facility of use and Region and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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