Global Endoscopes Market Size, Share & Trends Analysis Report 2021-2028: A USD 19.4 Billion Market by 2028 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Global Endoscopes Market Size, Share & Trends Analysis Report by Product (Flexible Endoscopes, Disposable Endoscopes), by Application, by End-use, by Region, and Segment Forecasts, 2021-2028” report has been added to ResearchAndMarkets.com’s offering.
The global endoscopes market size is expected to reach USD 19.4 billion by 2028. It is expected to expand at a CAGR of 8.0% from 2021 to 2028.
The growing awareness regarding the benefits of minimally invasive surgeries as compared to open invasive surgeries and the rising prevalence of chronic diseases, such as cancer, heart diseases, and diabetes, are some of the factors driving the market. In addition, technological advancements with respect to endoscopes and the increasing applications in various diagnosis and treatment processes are among the key trends boosting the demand for endoscopes globally.
Based on product, flexible endoscopes dominated the market with a share of 49.9% in 2020. This is attributed to the growing preference for such devices among medical professionals, technological advancements, increased efficiency and safety, and ergonomic features of the flexible endoscopes. In addition, these devices are used in numerous procedures, such as upper gastrointestinal endoscopy, colonoscopy, bronchoscopy, sigmoidoscopy, laryngoscopy, pharyngoscopy, duodenoscopy, nasopharyngoscopy, and rhinoscopy, which increase their adoption, thereby fueling the segment growth.
In 2020, based on application, gastrointestinal (GI) endoscopy accounted for the largest revenue share owing to the growing geriatric population and the rising burden of gastrointestinal diseases. In addition, the increase in the number of gastroscopies, the rise in adoption of endoscopes for diagnosis as well as treatment of GI diseases, and the availability of advanced products for gastroscopy are some of the factors driving the segment. In addition, the urology endoscopy segment is expected to expand at the highest CAGR over the forecast period. The growing number of urology surgeries and the increasing prevalence of urologic cancers are among the key factors expected to drive the demand for urology endoscopies.
North America dominated the market with a revenue share of 42.5% in 2020 owing to the improved healthcare infrastructure, the rising adoption of advanced technologies, and the growing preference for minimally invasive surgeries to curb healthcare spending. In addition, the growing burden of gastrointestinal disorders and cancer in the region is one of the significant factors propelling the market growth. For instance, according to the estimates of the National Cancer Institute, around 1,806,590 new cases were estimated to be diagnosed in the U.S. in 2020.
In addition, the COVID-19 pandemic has impacted the market for endoscopes. The postponement of elective surgeries and the reduction in the number of elective surgeries performed during the pandemic have drastically impacted the market. In addition, changing regulations with a view to curtailing the infection due to virus, along with the disruptions in the supply chain, have hampered the market growth during the pandemic. For instance, according to a 2020 multicenter survey from Northern Italy, published in the American Gastroenterological Association (AGA), a reduction of 97.6% was experienced in endoscopy units with COVID-19 positive patients.
Endoscopes Market Report Highlights
- By product, the flexible endoscopes segment held the largest revenue share in 2020 owing to the growing preference for such devices among medical professionals, technological advancements, increased efficiency and safety, and ergonomic features of the flexible endoscopes
- Based on application, the gastrointestinal (GI) endoscopy segment dominated the market in 2020 owing to the growing geriatric population and the rising burden of gastrointestinal diseases
- In terms of end use, hospitals accounted for the largest revenue share in 2020 owing to favorable reimbursement policies and large adoption and utilization of endoscopes in hospital systems
- North America dominated the market with a revenue share of 42.5% in 2020 owing to various factors including the improved healthcare infrastructure, the rising adoption of advanced technologies, and the growing preference for minimally invasive surgeries to curb healthcare spending
Key Topics Covered:
Chapter 1 Research Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Global Endoscopes Market Variables, Trends, & Scope
Chapter 4 Endoscopes Market: Competitive Landscape Analysis
Chapter 5 Endoscopes Market: Product Estimates & Trend Analysis
Chapter 6 Endoscopes Market: Application Estimates & Trend Analysis
Chapter 7 Endoscopes Market: End-use Estimates & Trend Analysis
Chapter 8 Endoscopes Market: Regional Estimates & Trend Analysis, By Product, Application, and End Use
Chapter 9 Competitive Landscape
- Olympus Corporation
- Ethicon US, LLC
- Fujifilm Holdings Corporation
- Boston Scientific Corporation
- Karl Storz GmbH & Co. KG
- Stryker
- PENTAX Medical
- CONMED Corporation
- Richard Wolf Medical Instruments Corporation
- Medtronic
For more information about this report visit https://www.researchandmarkets.com/r/w3ml
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