Therapeutic Endoscopy Devices Market Size Worth USD 4.84 Billion in 2032 | Emergen Research

Vancouver, Dec. 20, 2023 (GLOBE NEWSWIRE) -- The global therapeutic endoscopy devices market size was USD 2.50 Billion in 2022 and is expected to register a revenue CAGR of 6.8% during the forecast period, according to latest analysis by Emergen Research. Rising prevalence of cancer, technological advancements in therapeutic endoscopy devices, growing favorable initiatives and product approvals by federal government, and rising demand for minimally invasive surgeries among people are some of the major factors driving the market revenue growth. In addition, rising product launches and investment in therapeutic endoscopic devices are contributing to revenue growth of the market.

Increasing prevalence of cancers and presence of better healthcare infrastructure in this region is also contributing to the market revenue growth. This is primarily attributable to increasing prevalence of cancer and presence of better healthcare infrastructure.

According to figures published in January by the American Cancer Society, around 1 million new cases of cancer and 609,360 cancer-related deaths occurred in the United States in 2022, also about 30,520 Americans (20,420 men and 10,100 women) died from primary liver cancer and intrahepatic bile duct cancer. Sub-Saharan Africa and Southeast Asia have much higher rates of liver cancer than the United States.

It is the most prevalent cancer type in many of these countries. Every year, more than 800,000 individuals globally are diagnosed with this cancer. Reduced cancer mortality can be made possible by investing in better early diagnosis and treatment as well as more focused cancer control initiatives.

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Scope of Research

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MAJOR COMPANIES and Market Share Analysis

The global therapeutic endoscopy 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 therapeutic endoscopy devices solutions. Some major players included in the global therapeutic endoscopy devices market report are:

• Olympus Corporation
• Medtronic
• Cook
• FUJIFILM Holdings Corporation
• Boston Scientific Corporation
• KARL STORZ
• Stryker
• Richard Wolf GmbH.
• PENTAX Medical
• Smith+Nephew.

Strategic Development

• On 2 May 2023, Olympus Corporation (Olympus), an international innovator in creating and supplying innovative solutions for medical and surgical procedures, announced the FDA approval of the new EVIS X1 endoscopy system, as well as two compatible gastrointestinal endoscopes: the GIF-1100 gastrointestinal videoscope suggested for use within the upper digestive tract, including the esophagus, stomach, and duodenum.
• On February 2021, Ambu A/S, which is the world's largest suppliers of single-use endoscopes, announced its decision to grant national single-use endoscopy contract expansions with two U.S. Group Purchasing Organization (GPOs), one with Ambu’s aScope 4 Cysto and another with Ambu’s aScope Duodeno. The agreement strengthens Ambu’s position in disposable bronchoscopes, cystoscopes, and duodenoscopes during the contract period.

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Some Key Highlights from the Report

• The single-use endoscopy device segment accounted for largest revenue share in 2022. The use of disposable endoscopes has increased patient safety. Some advantages of a single-use endoscope include the expense of managing post-procedure infections being greatly decreased, and patients can go home sooner after treatments. Reprocessing time can be redirected to patient care, and it lacks the damage that reusable devices do over time.
• The ambulatory surgical centers segment registered a significantly fast revenue growth rate in 2022. It is a productive and cost-effective alternative to a hospital operating room. Ambulatory Surgical Centers (ASCs) help to reduce costs and cut patient out-of-pocket payments and are considered to be 40% to 60% less expensive than hospital stays. An ASC is a fantastic alternative for patients who must stay in the hospital.
• The therapeutic endoscopy devices market in North America accounted for largest revenue share in 2022 due to the adoption of minimally invasive surgeries, presence of leading companies, and rising initiations by federal government agencies in this region. For instance, on 17 February 2022, EvoEndo, Inc. (‘EvoEndo’), a medical device business that designs devices for Unsedated Transnasal Endoscopy (TNE), announced that the EvoEndo Single-Use Endoscopy System has received 510(k) approval from the United States Food and Drug Administration (FDA).

Segments Covered in Report

Emergen Research has segmented the global therapeutic endoscopy devices market on the basis of product, hygiene, application, end-use, and region:

• Product Outlook (Revenue, USD Billion; 2019-2032)
  • Endoscope
    1. Rigid Endoscopy Devices
       • Cystoscopes
       • Laparoscopes
       • Arthroscopes
       • Urology endoscope
       • Neuroendoscopes
       • Other rigid endoscopes
    2. Flexible Endoscopy Devices
       • Bronchoscopes
       • Colonoscopes
       • Upper gastrointestinal endoscopes
       • Nasopharyngoscopes
       • Sigmoidoscopes
       • Other flexible Endoscopy Devices
    3. Capsule Endoscopy Devices
    4. Disposable Endoscopy Devices
    5. Robot-Assisted Endoscopy Devices
  • Mechanical Endoscopic Equipment
    1. By Therapeutics
       • Biopsy
       • Polypectomy
       • Hemostasis and suturing
       • Biliary stone management and drainage
       • Others
    2. By Devices
       • Endoscopic implants
       • Graspers
       • Snares
       • Biopsy forceps
       • Others
  • Endoscopy Visualization Systems
    1. Standard Definition (SD) Visualization Systems
       • 2D systems
       • 3D systems
    2. High-Definition (HD) Visualization Systems
       • 2D systems
       • 3D systems
    3. Endoscopy Visualization Component
       • Camera Heads
       • Insufflators
       • Suction Pumps
       • Light Sources
       • Others
    4. Operative Devices
       • Energy Systems
       • Access Devices
       • Hand Instruments
       • Others
• Hygiene Outlook (Revenue, USD Billion; 2019-2032)
  • Single-use
  • Sterilization
  • Reprocessing
• Application Outlook (Revenue, USD Billion; 2019-2032)
  • Gastrointestinal (GI) Endoscopy
  • Respiratory Endoscopy
  • Urology Endoscopy
  • Gynecology Endoscopy
  • Others (e.g., orthopedic endoscopy, neuroendoscopy)
• End-Use Outlook (Revenue, USD Billion; 2019-2032)
  • Hospitals
  • Ambulatory surgical centers
  • Others
• Regional Outlook (Revenue, USD Billion; 2019-2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Benelux
    5. 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. Rest of MEA

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