Endoscopes Market

Market Overview

The global endoscopes market size was valued at USD 14.58 billion in 2022. It is estimated to reach USD 32.2 billion by 2031, growing at a CAGR of 9.2% during the forecast period (2023–2031). The rising geriatric population and increasing prevalence of cancer lead to rising demand for diagnostic endoscopic procedures, fueling market expansion.

An endoscope is an inspection tool to peer deeply inside the body through holes like the mouth or anus. It comprises an image sensor, optical lens, light source, and mechanical gear. Modern technologies, including optics, ergonomics, precision mechanics, electronics, and software engineering, are all used in a standard endoscope. An endoscope is helpful in medical diagnostics because it allows for observing lesions that an X-ray cannot see.

Endoscopes produce minimally invasive procedures by transferring illumination in one way and high-resolution images in the other direction through tubes that are only a few millimeters thick. Internal organs like the throat and esophagus are examined with this method. The target organ is referenced in the names of specialized instruments. Examples include the laparoscope (abdomen or pelvis), nephroscope (kidney), arthroscope (joints), bronchoscope (bronchus), colonoscopy (colon), and cystoscope (bladder). They can be used to visually inspect, diagnose, or support surgery, like an arthroscopy.

Market Dynamics

Global Endoscopes Market Drivers

Rising Geriatric Population

According to multiple NCBI studies, people over 65 are more likely to contract chronic diseases, including Parkinson's disease and nervous system abnormalities. The U.S. Census Bureau reports that from 2014 to 2015, there were 1.6 million more people in this age group. Over the past few years, there has been a considerable increase in the number of older adults with life-threatening conditions. Due to numerous age-related changes in body composition and muscle mass, the risk of malnutrition and frailty in the older population with comorbidities, such as stroke, depression, and dementia, is significantly higher.

Due to the decreased capacity to do ADLs, the risk of falling or suffering an injury is increased. It is crucial to understand the pathophysiology of the ailment (nutritional deficit) to treat it. The prevalence of nutritional deficit in the senior population is approximately 15% in ambulatory outpatients, 35% to 65% in hospitalized patients, and 20% to 60% in institutionalized people, according to a 2018 NCBI article. As a result, healthcare practitioners are maximizing enteral nutrition (EN) alternatives for the older population, which is anticipated to drive the market for an enteral feeding formula.

Increasing Prevalence of Cancer

One of the main aspects anticipated to boost the endoscope market throughout the forecast period is the rising cancer incidence. According to WHO estimates, worldwide cancer incidence (cases per year) was approximately 14.1 million in 2012 and is projected to increase to 22 million cases by 2034. Colorectal, lung, and breast cancer are among the most prevalent cancers. The demand for biopsies for cancer diagnosis is anticipated to rise as cancer incidence rates rise. One of the preferred methods for cancer diagnosis is endoscopy for biopsies and endoscopic ultrasonography. Therefore, rising demand for diagnostic endoscopic procedures will fuel market expansion.

Global Endoscopes Market Restraint

Lack of Awareness and Low Adoption of Disposable Endoscopes

Disposable endoscopes have several advantages, but patients and healthcare professionals are unaware of them. The deployment of such gadgets in hospitals and diagnostic facilities is constrained due to insufficient awareness. The decision between reusable and disposable endoscopes is never easy for medical professionals because each device has advantages and disadvantages, making the choice process crucial. Many medical professionals continue to question the superiority of disposable endoscopes over reusable ones because reusable endoscopes frequently lack technologically complex components and have sophisticated designs.

Disposable endoscopes may also produce medical waste and are generally not environmentally friendly, which is one of the reasons hospitals have not adopted them as much as they should. Due to the lower adoption of technologically sophisticated items in these regions, the availability of disposable endoscopes is still restricted in several areas of Asia, the Middle East, Africa, and Latin America.

Global Endoscopes Market Opportunities

Advancements in Endoscopic Technology

The caliber of endoscopic procedures has significantly increased with the introduction of high-definition imaging, 3D visualization, and miniature endoscopes. These developments have increased diagnostic precision, enhanced patient outcomes, and broadened the endoscopic use field. The ability of endoscopes to visualize objects has been substantially improved by high-definition (HD) imaging. HD imaging enables doctors to more precisely view the features of inside structures due to its improved resolution, clarity, and color correctness. This advancement has proved useful for guiding targeted biopsies and detecting minor abnormalities, such as early-stage malignancies or precancerous tumors.

These improvements in endoscopic technology have enhanced disease diagnosis precision, improved anatomical structure visibility, decreased invasiveness, sped up procedure times, and accelerated patient recovery. They have broadened the range of endoscopic applications beyond traditional sectors, creating new opportunities for detecting, managing, and monitoring various medical disorders. The future of endoscopy has even more promise for more advancements in patient care as technology develops.

Regional Analysis

The global endoscopes market is bifurcated based on region into North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa.

North America Dominates the Global Market

North America is the most significant global endoscopes market shareholder and is estimated to exhibit a CAGR of 6.2% over the forecast period. The market is being driven by an increase in the use of new and developed advanced endoscopes, an increase in demand for minimally invasive surgical procedures, and an increase in the burden of chronic diseases. One of the key reasons driving the market growth is the rising prevalence of cancer and gastrointestinal illnesses in the area. The U.S. is the largest endoscope market in North America. Endoscope use is expanding for cancer diagnosis.

Consequently, it is anticipated that increased cancer incidence and the availability of cutting-edge diagnostic techniques will fuel market expansion. In addition, groups like the American Society for Gastrointestinal Endoscopy, committed to patient care and digestive health for encouraging innovations and quality in endoscopy, are also anticipated to expand the market. Some major market participants are Olympus, Karl Storz, Richard Wolf, CONMED, Stryker Corporation, and US Endoscopy.

Europe is anticipated to exhibit a CAGR of 9% over the forecast period. Due to rising interest in minimally invasive surgery, increased use of endoscopes for early diagnosis, and the introduction of disposable endoscopes that guarantee lower infection risk, the European endoscopes market is predicted to expand. Additionally, the aging of the population and the burden of chronic diseases, including cancer and GI disorders, are propelling market expansion in Europe. Additionally, technical developments like the creation of microendoscopic and robot-assisted operations are fueling the market's expansion.

Additionally, the market is anticipated to benefit from various initiatives taken by United European Gastroenterology (UEG) and the European Society of Gastrointestinal Endoscopy (ESGE) to foster supportive endoscopy service communities across Europe and encourage collaboration for delivering safe, patient-centered, and affordable endoscopic care. Among the top companies in the market are Olympus Corporation, Vimex Endoscopy, PENTAX Medical, and Karl Storz GmbH & Co.

Asia-Pacific has emerged as one of the fastest-growing regions in the global market. This region has attracted foreign investments due to economic growth and healthcare infrastructure improvement. As a result, major market participants are creating strategies for growing their businesses in this area. Additionally, increased awareness of the benefits of minimally invasive procedures over open procedures and a high prevalence of chronic diseases are anticipated to create growth prospects in this area. The endoscope market is anticipated to expand due to the aging population, notably in China.

Furthermore, the market's expansion is also aided by major industry players in Japan, such as Olympus Corporation. India, China, and Japan all have significant rates of gastrointestinal disease prevalence, raising the need for endoscopic operations for diagnosis and treatment. Adopting different cancer screening programs is also anticipated to promote market expansion. Increased acceptance of technologically advanced and minimum therapies for treatment and diagnostics, a rise in the prevalence of chronic illnesses, and increased awareness of endoscopic devices are some of the reasons anticipated to propel market growth.

In Latin America, the endoscope market is primarily driven by large competitors and rising hospital endoscope spending. Additionally, increasing awareness of the usage of endoscopy for different diagnostic and treatments and growing demand for minimally invasive procedures over open operations are other factors anticipated to propel the market. The medical device sector may expand in this area profitably. With numerous tiny distributing companies, the medical device industry's distribution network in Latin America is highly fragmented, making endoscopes easily accessible.

The Middle East and Africa market is driven by an aging population, a high cancer prevalence, and an increasing trend of early disease diagnosis. The Middle East and Africa is a significant economic powerhouse with modern technology and a high per capita income. One of the reasons anticipated to promote market penetration during the projection period is growing government attempts to expand reimbursement coverage. Additionally, the Gulf Corporation Council (GCC) is expanding quickly, a sign that high-tech medical equipment and infrastructure are being developed. The three biggest markets in this region for medical devices are Saudi Arabia, Qatar, and the United Arab Emirates. In the upcoming years, the market is anticipated to be driven by rising disease burden, rising healthcare costs, and expanding privatization in the healthcare sector.

Segmental Analysis

The global endoscopes market is bifurcated into product, application, and end-use.

Based on the product, the global market is bifurcated into rigid endoscopes, flexible endoscopes, capsule endoscopes, disposable endoscopes, and robot-assisted endoscopes.

The disposable endoscopes segment dominates the global market and is projected to exhibit a CAGR of 19.3% over the forecast period. It can be done under anesthesia, so medical experts increasingly choose it as their first-line treatment alternative. Flexible endoscopes' great efficiency, safety, and cost-effectiveness further encourage their usage. Additionally, flexible endoscopes are utilized in various surgical procedures, including bronchoscopy, otoscopy, mediastinoscopy, laryngoscopy, arthroscopy, urology endoscopy, and obstetrics/gynecological endoscopy.

As a result, their adoption rises, spurring the segment's expansion. The risk of cross-contamination is reduced because of disposable endoscopes, which also lowers the frequency of hospital-acquired illnesses. Consequently, various measures are being carried out to promote disposable endoscopes. Many industry participants are making investments in the creation of disposable endoscopes. Thus, new product advancements and following product releases are anticipated to dominate the market in future years.

Based on application, the global market is bifurcated into gastrointestinal (GI) endoscopy, urology endoscopy, laparoscopy, obstetrics/gynecology endoscopy, arthroscopy, bronchoscopy, mediastinoscopy, otoscopy, laryngoscopy, and other.

The gastrointestinal (GI) segment owns the highest endoscopes market share over the forecast period. One of the main factors propelling the GI endoscopy market is the presence of a sizable elderly population, an increase in the frequency of GI disorders, and the development of technologically enhanced techniques by industry participants. The market is expanding due to the introduction of capsule endoscopy to diagnose various GI illnesses. New product innovations from industry giants like Olympus also drive the market.

The growth of endoscopes used for GI disease diagnosis and treatment and the availability of sophisticated gastroscopy products are some drivers propelling the gastroscopy market. According to the CDC, approximately 14.8 million Americans had an ulcer diagnosis in 2015, boosting the use of gastroscopies as a diagnostic tool. The presence of organizations like United European Gastroenterology, which are committed to encouraging research projects to lessen the burden of GI diseases and raise awareness about GI disorders, is also fueling the market's expansion.

Based on application, the global endoscopes market is bifurcated into hospitals, ambulatory surgical centers, and others. 

The hospital segment owns the highest market share over the forecast period. The main causes of the high demand for endoscopes can be attributed to favorable reimbursement policies for patients who seek treatment in hospitals as opposed to ambulatory centers and numerous hospitals and primary care facilities in both developed and developing economies. However, as people's preferences for minimally invasive procedures have grown, ambulatory surgical centers are now performing more endoscopies.

Recent Developments

• May 2023- Olympus, a global technology leader in designing and delivering innovative solutions for medical and surgical procedures, announced today the FDA clearance of the new EVIS X1 endoscopy system and two compatible gastrointestinal endoscopes: the GIF-1100 gastrointestinal video scope for the upper digestive tract, including the esophagus, stomach, and duodenum; and the CF-HQ1100DL/I colonovideoscope for the lower digestive tract.
• June 2023- Omnivision, a producer of semiconductor solutions, has unveiled the brand-new, ultra-thin OVMed OCHTA cable module for single-use endoscopes. The novel module can be utilized with endoscopes for spinal, ob-gyn, utero-renal, neuro, ophthalmic, and cardiac minimally invasive surgery.