Redding, California, Dec. 13, 2022 (GLOBE NEWSWIRE) -- According to a new market research report titled, “Endoscopy Equipment Market by Type (Endoscope [Flexible, Rigid, Capsule], Visualization System, Accessories [Insufflators, Mouthpieces], Software), Application (Colonoscopy, Arthroscopy, Bronchoscopy, Laryngoscopy), End User - Forecast to 2029”, published by Meticulous Research®, the endoscopy equipment market is projected to reach $59.8 billion by 2029, at a CAGR of 5.8% during the forecast period 2022–2029.
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Endoscopy is a medical procedure that helps detect, prevent, and treat complications related to GI tract, urological, respiratory, or gynecological complications. Typically, endoscopes are long, thin tubes that are directly inserted into the body to examine an internal organ or tissue in depth. Endoscopy devices are composed of a number of parts, such as an endoscope, visualization systems, and peripheral or support equipment or accessories.
Impact of COVID-19 on the Endoscopy Equipment Market
The COVID-19 pandemic became a global challenge due to the overburdened healthcare system, strict isolation and quarantine protocols, limitations on social activities, restrictions on travel, and the shutting down of businesses. The pandemic had a negative impact on the endoscopy equipment market.
In 2021, The National Endoscopic Database (NED) of the U.K. reported that prior to the implementation of COVID-19-related protocols, an average of 35,478 endoscopy procedures per week were performed in the U.K. However, only 12% of the pre-COVID-19 volume of endoscopies were performed during the COVID-19-impacted period. By the end of March 2020, at less than 1,800 interventions per week, this number was at its lowest level. The decrease in the inflow of patients to the hospitals was mostly caused by the rescheduling and delay of procedures for safety reasons, which also led to a decline in endoscopic procedures. Additionally, the supply of endoscopy-related products was also affected as most of the resources were COVID-19-concentrated. Furthermore, temporary supply chain disruptions caused due to the closing of borders of various countries also negatively impacted the market.
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The global endoscopy equipment market study is segmented by Product (Endoscopes [Rigid Endoscopes, Flexible Endoscopes, Capsules Endoscopes, Disposable/Single-Use Endoscopes, Robot-Assisted Endoscopes], Visualization Equipment [Visualization Systems {Standard Definition (SD) Systems, High-definition (HD) Systems}, Visualization Components], Other Equipment, Accessories [Insufflators, Mouthpieces, Light Cables, Other Accessories], Software), Application (Upper Gastrointestinal (GI) Endoscopy, Colonoscopy, Obstetrics/Gynecology Endoscopy, Arthroscopy, Urology Endoscopy, Bronchoscopy, Laryngoscopy, Other Applications), End User (Hospitals & Clinics, Ambulatory Surgery Centers, Other End Users), and Geography. The study also evaluates industry competitors and analyzes the country and regional-level markets.
Based on type, in 2022, the endoscopes segment is expected to account for the largest share of the global endoscopy equipment market. The high geriatric population, coupled with an increase in the burden of chronic diseases, and the high preference for disposable endoscopes are contributing to the large market share of this segment. For instance, as per the OECD data, in 2021, 9.56% of the elderly population globally was over 60 years. The number is expected to increase from over 1 billion in 2021 to 1.4 billion by 2030. Thus, the growing aging population and rising disease burden are driving the demand for endoscopies globally.
Based on application, in 2022, the upper gastrointestinal (GI) endoscopy segment is expected to account for the largest share of the endoscopy equipment market. The large market share of this segment is attributed to the high burden of upper GI disorders and the presence of screening programs for early cancer diagnosis.
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Based on end user, in 2022, the hospitals & clinics segment is expected to account for the largest share of the global endoscopy equipment market. Hospitals & clinics are the primary points of care in any health system. A large number of hospitals and clinics carrying out endoscopies and high patient inflow due to the high burden of chronic diseases globally are contributing to the large market share of this segment.
Based on geography, in 2022, North America is expected to account for the largest share of the endoscopy equipment market, followed by Europe and Asia-Pacific. In 2022, the U.S. is expected to account for the largest share of the endoscopy equipment market in North America. The market is primarily driven by the high prevalence of chronic diseases and a strong focus on research activities to innovate endoscopic technologies.
Some of the key players operating in the global endoscopy equipment market are Boston Scientific Corporation (U.S.), Johnson & Johnson Services, Inc. (U.S.), Richard Wolf GmbH (Germany), FUJIFILM Holdings Corporation (Japan), Olympus Corporation (Japan), Stryker Corporation (U.S.), Medtronic Private Limited (Ireland), Nipro Corporation (Japan), MEDIVATORS B.V. (Germany), HOYA CORPORATION (Japan), and The Cooper Companies, Inc. (U.S.).
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Scope of the Report:
Endoscopy Equipment Market, by Product
- Endoscopes
- Rigid Endoscopes
- Flexible Endoscopes
- Capsule Endoscopes
- Disposable/Single-use Endoscopes
- Robot-Assisted Endoscopes
- Visualization Equipment
- Visualization Systems
- Standard-Definition (SD) Systems
- High-Definition (HD) Systems
- Visualization Components
- Visualization Systems
- Other Equipment
- Accessories
- Insufflators
- Mouthpieces
- Light Cables
- Other Accessories
- Software
Note 1: Other Equipment includes endoscopy fluid management systems, endoscopy ultrasound systems, and endoscopic implants.
Note 2: Other accessories include forceps, graspers, snares, and trocars.
Endoscopy Equipment Market, by Application
- Upper Gastrointestinal (GI) Endoscopy
- Colonoscopy
- Obstetrics/Gynecology Endoscopy
- Arthroscopy
- Urology Endoscopy
- Bronchoscopy
- Laryngoscopy
- Other Applications
Note: Other applications include mediastinoscopy, thoracoscopy, and neuroendoscopy.
Endoscopy Equipment Market, by End User
- Hospitals & Clinics
- Ambulatory Surgery Centers
- Other End Users
Note: Other end users include diagnostic endoscopy centers and academics.
Endoscopy Equipment Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- Japan
- India
- Rest of APAC (RoAPAC)
- Latin America (LATAM)
- Brazil
- Mexico
- Rest of Latin America (RoLATAM)
- Middle East & Africa
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