The global endoscopy devices market size was valued at USD 5,952.74 million in 2021 and is projected to grow at a CAGR of 6.17%, accounting for USD 10,554.35 million in 2030. Endoscopy devices are medical instruments used by doctors to visualize internal organs of the body. An endoscopy device consists of a rigid or flexible tube, light system, lens, eyepiece, camera, and an additional channel for other medical instruments. Philipp Bozzini developed the first endoscopy in 1806. Recently several companies have launched new products and received FDA approvals.
Endoscopy devices are used to diagnose or treat diseases or disorders like irritable bowel, Crohn's disease, ulcerative colitis, stomach ulcer, tumors, infections, blockage, hiatal hernia, gastroesophageal reflux disease (GERD), etc. Increasing chronic diseases, the need for minimally invasive procedures, and technological advancement contribute to the increase in the adaption of endoscopy devices. The market is segmented into device type, application, and regions.
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Minimal invasive surgery offers several benefits, such as minimal cuts or stitches, low painkiller doses, shorter recovery time, less pain, and less postoperative care. Endoscopy is known to have less postoperative pain, requiring a low dosage of painkillers. Also, the recovery time after the procedure is less, and the scaring is minimal. The endoscopic approach avoids long incisions, which is required in traditional open surgery. The healing time hence needed is also short. This has boosted the demand for minimally invasive surgeries among the patient population.
Olympus Global Integrated Report 2021 reported that the endoscopic solutions-based revenue was USD 61.72 billion. International organizations, such as the American Association of Gynecologic Laparoscopists (AAGL) and the International Society of Gynecologic Endoscopy (ISGE), are collaborating with healthcare agencies in South Africa to create awareness about the benefits of MIS and improve the adoption rate, which may boost the market in the upcoming years.
Increasing demand for advanced and economical procedures encourages newer technologies and development in endoscopy devices, surging its market. Endoscopy is known predominantly for treating Gastrointestinal Diseases. Endoscopic technique has evolved into various approaches such as esophagogastroduodenoscopy, colonoscopy, flexible sigmoidoscopy, endoscopic retrograde cholangiopancreatography, and advanced imaging technology, including endoscopic ultrasonography, wireless capsule endoscopy, and double-balloon enterostomy. The doctors use these techniques for diagnosis and treatment. High efficacy and broader application of this approach for diagnosing various diseases are major reasons for the surging endoscopy devices market growth.
Sudden product withdrawal from the market creates a nick in consumer trust, leading to a decline in sales. FDA is investigating reprocessed endoscopes due to patient infections and possible contamination issues. For instance, in November 2021, FDA recalled a duodenoscope, an endoscope manufactured by Olympus Corporation. It was recalled because the use of a TJF-Q180V with adhesive deterioration or other damages might pose a risk of endoscope contamination. This might be due to ineffective reprocessing or fluid invasion, and since contaminated endoscopes can cause infection risk to patients, the product was recalled.
Moreover, the lack of skilled technicians is the major restraining factor for the growth of the endoscopy devices market. Low preference for medicine as a career choice is predicted to cause a low medical workforce. Lack of knowledge of professional lab opportunities is also a reason for the shortage of the healthcare workforce. Even though there is an availability of endoscopy devices, the level of sedation with newer techniques is limited to a technician's skill level.
Evolution and innovation in medical technology are becoming the need of the day. New diseases and disorders are forcing the need for newer techniques for both diagnosis and treatment. Manufacturers and suppliers are producing new devices or improving existing devices. They are enthusiastic about investing time and finance in creating new technology and updated devices and medical instruments. Key industries are collaborating or merging to provide the latest innovative technology, leading to market growth. For instance, in April 2021, Olympus Corporation collaborated with Veran Medical Technology and launched single-use bronchoscopes for advanced diagnostics and therapeutics.
According to research, the market for the disposable endoscope is expected to surge by approximately USD 6 billion by 2030. The increasing burden of chronic disease and associated risk factors needs development in the less invasive endoscopic procedures. The future of endoscopy devices is expected to evolve along with Artificial Intelligence (AI) and 3D imaging technology. Robotic assistance is also under research to provide efficient and quality care to patients.
The use of automation and robotic assistance for endoscopic techniques are under research and development by various global companies. High definition and high-resolution cameras and dedicated instruments are being developed, or the pre-existing ones are improved. In April 2021, Medtronic PLC received FDA approval for the GI Genius, which is based on AI to detect polyps or tumors during colonoscopy. According to Ambus's Annual report, the revenue for single-use endoscopes surged from 17% to 69% from October 2020 to March 2021.
During the COVID-19 pandemic, the healthcare system and medical persons were confined mainly to providing cures and care to corona-infected patients. Travel restrictions and social distance kept the public away from clinics and hospitals. Various guidelines were imposed for surgical practices during this crisis. The regulatory bodies had to make an option for non-surgical management. The pandemic had changed the procedure of surgeries, including the endoscopic approach. Strict guidelines were specific for each specialty to be implemented and followed by the surgeons to provide secured effective care.
Research says that there was an 83% reduction in endoscopy volumes during the pandemic. In August 2020, its quarterly revenue of Olympus reduced by 22%. The first-quarter revenue was USD 1.11 billion, while the first-quarter revenue in 2019 was USD 1.42 billion. Due to the downfall in endoscopy sales, the company's operating profit was reduced by 92%. The procedures postponed due to the pandemic caused a fall in business and sales.
Lockdown lift and removal of restrictions increased the number of testing, diagnosis, and surgeries. Due to backlogs of patients and the shutting down of some endoscopic centers, the use of non-endoscopic testing is increasing. Shortage of staff and challenges in rehiring might be another hindrance. Artificial intelligence may emerge as a component in endoscopic procedures for highly efficient quality care and service.
Based on the device type, the global endoscopy devices market share is segmented into endoscopic operative devices and endoscopes. Endoscopes held the largest market, accounting for USD 11,543.01 million in 2021. The global market is projected to generate USD 19,501.67 million in 2030, growing at a CAGR of 6.00%. The need for economic and advanced technology and a minimally invasive approach are anticipated to surge the endoscopy devices market growth. Endoscopic cameras, SD visualization cameras, and HD visualization cameras are classified under endoscope devices. The market revenue for endoscopic cameras and HD visualization cameras is high compared to the market revenue of SD visualization cameras.
Based on application, the global endoscopy devices market is segmented into pulmonology, gastroenterology, and orthopedic surgery. In 2021, gastroenterology was valued at USD 6,836.82 million. It has the highest market compared to other applications. The rising geriatric population worldwide and the increase in the cases of gastrointestinal disease and various cancers are among the major factors boosting the overall market growth with respect to this segment. The global market is projected to generate USD 11,599.79 million in 2030, growing at a CAGR of 6.05%.
The global endoscopy devices market share is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. The market for endoscopy devices was high in North America, valued at USD 11,524.33 million in 2021. It is anticipated to grow at a CAGR of 6.68%, generating USD 20,623.46 million from 2022–2030. The minimally invasive technique, increasing burden of chronic diseases, technological advancements, and rising geriatric population is anticipated to expand the endoscopy devices market share. In this region, the United States was the major contributor to the endoscopy device revenue of USD 9,709.59 million for 2021. Mexico is noted to have a lower market share.
The demand for endoscopy devices in Europe is rising gradually and is expected to grow at a CAGR of 6.83% by 2030. Germany and France have a lot of companies working on developing various endoscopic devices for prevailing diseases and chronic ailments. In 2021, the market revenue for endoscopy devices in Germany and France was USD 1,778.07 million and USD 1,606.18 million, respectively. Spain and Italy are predicted to contribute comparatively low market revenue compared to Germany and France.
The market value for endoscopes in Asia-Pacific is soaring due to the increasing burden of gastrointestinal, cardiovascular, and neurological diseases. China and Japan are critical players in Asia-Pacific, contributing to market revenue of USD 2,413.05 million and USD 2,797.33 million, respectively, in 2021. South America and the Middle East and Africa held a minor endoscopy devices market share of the market.
|Market Size||USD in Billion By 2030|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends|
|Segments Covered||by Device Type (Endoscopes, Endoscopic Operative Device), Application (Gastroenterology, Orthopedic Surgery)|
|Geographies Covered||North America, Europe, Asia-Pacific, LAME and Rest of the World|
|Key Companies Profiled/Vendors||Boston Scientific Corporation, Medtronic PLC, Olympus Corporation, Johnson & Johnson, Fujifilm Holdings Corporation, Stryker Corporation, Karl Storz GmbH & Co. KG, Smith & Nephew Inc., Richard Wolf GmbH, Pentax Medical, Ambu Inc., Hoya Corporation, NEC Corporation, 3NT Medical Ltd, Machida Endoscope Co. Ltd. ,|
|Key Market Opportunities||High Demand In Medical Devices Sector Is Pushing Endoscopy Devices Market|