Endoscopy devices are used as both diagnostic and therapeutic devices that work for clinical solutions to the world by allowing close examination of internal organs and body structures. As opposed to conventional imaging devices like X-rays, endoscopic devices possess a tube-like instrument called endoscope, inserted directly inside the organ which provides comprehensive details of the organs under study.
Global endoscopy device market is estimated to be valued at US$ 17,152.8 million in 2022 and is expected to exhibit a CAGR of 9.8% during the forecast period (2022-2030).
Figure 1. Global Endoscopy Device Market Share (%), by Product Type, 2022
Key market players are involved in product launch i.e., endoscopy device, which is anticipated to propel the global endoscopy device market growth.
Increase in product launch by the key market players is expected to drive growth of the global endoscopy device market over the forecast period. For instance, on December 14, 2021, FUJIFILM Holdings America Corporation, a provider of endoscopic and endo surgical innovations, launched TRACMOTION, the company's device for endoscopic submucosal dissection at the New York Society of Gastrointestinal Endoscopy (NYSGE) Conference, held from December 16 to December 17, 2021 at the New York Marriott Marquis Hotel Times Square. TRACMOTION has 360° movable jaws which make it simple to hold and re-grip huge lesions, that improves a clinician's visibility as well as makes the lesions extraction process less complicated, and possibly speeding up endoscopic submucosal dissection procedures.
|Base Year:||2021||Market Size in 2022:||US$ 17,152.8 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2022 to 2030|
|Forecast Period 2022 to 2030 CAGR:||9.8%||2030 Value Projection:||US$ 36,197.0 Mn|
Accellent Inc., Aesculap Inc., Arthrex Inco, Boston Scientific Corporation, 3NT Medical, AnX Robotica Corporation, C.R. BARD INC, Conmed Corporation, Olympus Corporation, KARL STORZ Endoscopy-America, Inc., Cook Medical Incorporated, Richard Wolf GmbH, and Fujifilm Holding Corporation.
|Restraints & Challenges:||
Figure 2. Global Endoscopy Device Market Share (%), by Region, 2022
Increasing worldwide prevalence of gastrointestinal diseases is expected to fuel growth of the endoscopy device market.
Increasing prevalence of gastrointestinal diseases is expected to propel growth of the global endoscopy device market over the forecast period. For instance, according to the study, ‘Worldwide incidence and prevalence of inflammatory bowel disease in the 21st century: a systematic review of population-based studies’, published in the journal Lancet in 2018, the prevalence of Crohn's disease in Germany was 22 per 100,000 and 319 per 100,000 in Canada.
Global Endoscopy Device Market– Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.
COVID-19 has affected the economy in three main ways: by directly affecting production and demand of endoscopy device, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, UAE, Egypt, and others, faced problems with regard to the transportation of endoscopy device from one place to another. Additionally, there were delays in hospitalization and surgical procedures as number of patient visits decreased, which affected the global endoscopy device market over the forecast period.
Global Endoscopy Device Market: Key Developments
On March 28, 2022, Endoluxe, a biotechnology company, launched high-definition wireless endoscopy camera Endoluxe eVS. Endoluxe eVS is used for all endoscopic procedures such as in urology, gynecology, general surgery, orthopedics, etc. Endoluxe’s endoscopic platforms have components such as a camera head, camera processor, light source, bulky light cable, monitor, hazard-prone cables from the camera to the monitor, recorder, etc.
Global Endoscopy Device Market: Restraint
Possible complications with the use of endoscopy device are expected to hamper growth of the global endoscopy device market. For instance, according to data published in 2019 by Johns Hopkins University, a research university, there are possible complications that may occur with an upper gastrointestinal endoscopy such as infection, bleeding, a tear in the lining of the duodenum, esophagus, stomach, etc.
Major players operating in the global endoscopy device market include, Accellent Inc., Aesculap Inc., Arthrex Inco, Boston Scientific Corporation, 3NT Medical, AnX Robotica Corporation, C.R. BARD INC, Conmed Corporation, Olympus Corporation, KARL STORZ Endoscopy-America, Inc., Cook Medical Incorporated, Richard Wolf GmbH, and Fujifilm Holding Corporation.
Endoscopy devices are minimally-invasive diagnostic medical devices used to assess the internal organs of the body. These devices are used to examine unusual symptoms and to perform surgery. Such a device comprises a flexible tube with an attached camera, which allows the doctor to view potential threats to patient from disease without a large incision. Therapeutic endoscopy devices are modified with surgical instruments to carry out surgeries such as removal of kidney stones and fibroids. The procedure is associated with minimal post operation complications, thus making it the most preferred and pursued procedure in surgery and diagnostics. These devices include operative devices and visualization systems, which give direct insight of the organs for efficient treatment, unlike other medical imaging devices.
Increasing prevalence of functional gastrointestinal disorders such as stenosis, hemorrhoids, diverticular disease, colon polyps, colon cancer, etc. worldwide is expected to drive growth of the global endoscopy device market, over the forecast period. For instance, according to an article published in January, 2021 by National Center for Biotechnology Information, more than 40% of people are affected with functional gastrointestinal disorders worldwide. Endoscopic devices are used to look inside the stomach of the patients affected with gastrointestinal disorders. Increasing patients with gastrointestinal disorders is expected to drive the market growth of endoscopy device. Moreover, increasing product launch by key market players is also expected to propel growth of the global endoscopy device market. For instance, in March 2020, KARL STORZ Endoscopy-America, Inc., a endoscope manufacturer, launched TELE PACK+ compact endoscopy system. The TELE PACK+ is a video recorder system that includes light source, camera control unit, and a display that makes it easy to perform endoscopic diagnosis and treatment, as well as picture and data management.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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