Global Medical Endoscope Devices Market Size to Reach USD 58.25 Billion in 2032 | Emergen Research

Vancouver, Oct. 30, 2023 (GLOBE NEWSWIRE) -- The global medical endoscope devices market size was USD 29.1 Billion in 2022 and is expected to register a rapid revenue CAGR of 7.1% during the forecast period. Key drivers include the increasing advancements in surgical procedures, the rising incidence of Gastrointestinal (GI) diseases, and continuous technological innovations in the field.

Medical endoscope devices are slender, tube-like instruments used for in-depth examination of internal organs or tissues. They serve various purposes, including imaging and minor surgical procedures. Recent developments in medical technology have led to the integration of Artificial Intelligence (AI) in patient treatment. Computer technology and robotics have also found their way into endoscopy procedures, resulting from breakthroughs in computer science and robotics. Leading companies are contributing to the development of these technologies. For example, NVIDIA recently collaborated with Medtronic to bring AI-based solutions into patient care, using NVIDIA healthcare and edge AI technologies to enhance Medtronic's GI Genius intelligent endoscopy module.

The global market is witnessing a surge in cases requiring endoscopic equipment for both diagnostic and therapeutic purposes, particularly in emerging countries. GI diseases, such as Crohn's disease, gallstones, and Irritable Bowel Syndrome (IBS), have been on the rise, causing a significant societal and economic burden. Major market players are investing in Research & Development (R&D) to create innovative endoscope devices, driving market growth. WiMi Visualization Cloud, for instance, introduced a novel endoscopy framework that utilizes holographic imaging for Complex Programmable Logic Devices (CPLD). This technology streamlines clinical devices and optoelectronic microsensors, enabling remote image capture and processing.

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The shift towards minimally invasive procedures is driven by their financial viability, improved patient comfort, and reduced hospital stay. The global rise in obesity and cancer cases, coupled with advancements in endoscopic bariatric procedures, further drives the use of endoscopic devices. For instance, Apollo Endosurgery, Inc. received FDA's De Novo Marketing Authorization for Apollo ESG(TM) and Apollo REVISE(TM) to facilitate minimal invasive procedures in obese patients.

Endoscopic procedures play a crucial role in diagnosing and treating cancers, such as lung, colorectal, gastrointestinal, and breast cancers. However, the high cost of certain endoscopic processes, such as endoscopic retrograde cholangiopancreatography, and a shortage of skilled professionals, including endoscopy Virtual Reality (VR) simulators, pose challenges to market growth.

Flexible endoscopes are expected to register moderate revenue growth, driven by their use in diagnostic procedures, technological advancements, and benefits like improved ergonomics compared to rigid endoscopes. Companies are continually launching advanced instruments, enhancing minimally invasive treatment options, and improving endoscopic surgery technology.

Regionally, North America accounted for the largest revenue share in 2022, with extensive healthcare infrastructure and the prevalence of chronic diseases in the aging population. The Asia Pacific region is projected to witness the fastest revenue growth, owing to increased healthcare spending, awareness of minimally invasive techniques, and key technological advancements.

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Scope of Research

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Major Companies and Competitive Landscape

The global medical endoscope devices market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective medical endoscope devices solutions. Some major players included in the global medical endoscope devices market report are:

• Olympus Corporation
• FUJIFILM Holdings Corporation
• Stryker
• Boston Scientific Corporation
• Smith+Nephew
• Richard Wolf GmbH
• Medtronic
• PENTAX Medical
• Machida Endoscope Co., Ltd.
• Karl Storz GmbH & Co. KG
• CONMED Corporation
• Cook Group
• HOYA Corporation
• Ambu A/S
• NEC Corporation
• 3NT Medical
• Intuitive Surgical
• Becton and Dickinson Company (BD)
• NEVRO CORP
• B. Braun SE

Strategic Development

• On 3 April 2023, Cook Clinical announced an agreement with medical services execution improvement organization Vizient to convey endoscopy gadgets to its member healthcare facilities. This agreement covers Cook's full line of endoscopy clinical gadgets, including Hemosprayendoscopic hemostat and different classifications, including biliary access, biopsy, cytology, and tissue the board. Cook Clinical, established in 1963, centers around creating advances for eliminating open a medical procedure.
• On 9 January 2023, AA Clinical, announced the collaboration with Certified Endoscopy Products, a recognized clinical gadget reprocessing organization situated in Chicago spend significant time in endoscopic gadgets. The joint effort will lay out a main clinical gadget reprocessing organization taking care of the endoscopy, orthopedic, and surgical device markets.
• On 20 May 2022, AA Clinical, noticeable aftermarket equipment company partnered with Shore Capital Partners. This cooperation plans to lay out a state of the art clinical hardware stage that use cutting edge innovation. AA Clinical and Shore have teamed up to send off a strong and differentiated clinical reprocessing organization

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For the purpose of this report, Emergen Research has segmented the global medical endoscope devices market on the basis of product, application, end-use, and region:

• Product Outlook (Revenue, USD Billion; 2019-2032)
  • • • • Rigid Endoscopes
          • Laparoscopes
          • Arthroscopes
          • Ureteroscopes
          • Cystoscopes
          • Gynecology Endoscopes
          • Neuroendo-scopes
          • Bronchoscopes
          • Hysteroscopes
          • Laryngoscopes
        • Flexible ecdoscopes
          • Laparoscopes
          • Arthroscopes
          • Ureteroscopes
          • Cystoscopes
          • Gynecology Endoscopes
          • Neuroendoscopes
          • Bronchoscopes
          • Hysteroscopes
          • Laryngoscopes
        • Disposable Endoscopes
          • Laparoscopes
          • Arthroscopes
          • Ureteroscopes
          • Cystoscopes
          • Gynecology Endoscopes
          • Neuroendoscopes
          • Bronchoscopes
          • Hysteroscopes
          • Laryngoscopes
        • Capsule Endoscopes
        • Robot Assisted Endoscopes
      • Endoscopy Visualization Systems
        • Standard Definition (SD) Visualization Systems
          • 2D Systems
          • 3D Systems
        • High Definition (HD) Visualization Systems
          • 2D Systems
          • 3D Systems
      • Endoscopy Visualization Component
        • Camera Heads
        • Insufflators
        • Light Sources
        • High-Definition Monitors
        • Suction Pumps
        • Video Processors
      • Operative Devices
        • Energy Systems
        • Access Devices
        • Suction & Irrigation Systems
        • Hand Instruments
        • Wound Retractors
        • Snares
• Application Outlook (Revenue, USD Billion; 2019-2032)

• • Gastroenterology
  • Pulmonology
  • Orthopedic Surgery
  • Cardiology
  • ENT Surgery
  • Gynecology
  • Neurology
  • Others

• End-use Outlook (Revenue, USD Billion; 2019-2032)
• Regional Outlook (Revenue, USD Billion; 2019-2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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