Endoscopy Equipment Global Market Report 2022: Growing Focus of Hospitals to Invest in Technologically-Advanced Endoscopy Instruments and Expand Endoscopy Units Bolsters Sector
DUBLIN, Jan. 20, 2023 /PRNewswire/ -- The "Endoscopy Equipment Market by Product (Endoscope (Flexible, Rigid, Capsule, Robot-assisted, Disposable), Visualization Systems (Video Converters, Recorders, Processors), Other endoscopic, Accessories), Application, End User - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global endoscopy equipment market is projected to reach USD 40.6 billion by 2027 from USD 28.9 billion in 2022, at a CAGR of 7.0%.
The competitive landscape includes the analysis of the key growth strategies adopted by major players between January 2019 and May 2022. Players in the global endoscopy equipment market have employed various strategies to expand their global footprint and increase their market shares such as agreements, divestitures, expansions, and acquisitions.
The wireless displays and monitors segment is expected to account for the largest share of the visualization systems market
The wireless displays and monitors segment accounted for the largest share of the visualization systems markets in the forecast period. The large share of this segment can be attributed to factor that several medical device manufacturers have commercialized 3D-compatible endoscopes. These devices have significantly enhanced surgical precision and gained attention as they provide extremely accurate three-dimensional images of the area being operated. Technological advancements in these devices are further expected to propel their demand in the coming years.
Gastrointestinal endoscopy segment is expected to account for the largest share of the endoscopy equipment market
Based on application, the gastrointestinal endoscopy segment accounted for the largest share of the endoscopy equipment market in the forecast period. This segment is also expected to witness the highest CAGR of 8.4% during the forecast period. The largest share and the highest growth rate of this segment can be attributed to the significant increase in the number of adults in the US undergoing CRC screening, which is a major market for endoscopy products, is expected to sustain the growth of the GI endoscopy segment. Colonoscopy is a widely used endoscopic procedure in the US, considered the gold standard for colorectal cancer screening; approximately 15 million colonoscopies are performed per year.
Hospitals segment holds the highest market share in the endoscopy equipment market
Based on end user, the hospitals segment is likely to dominate the endoscopy equipment market during the forecast period owing to the growing healthcare sector in emerging economies, the increasing out-of-pocket healthcare expenditure across the world, and the rising demand for endoscopic procedures are the other major factors supporting the growth of the hospital segment.
North America to dominate the endoscopy equipment market during the forecast period
The endoscopy equipment market in North America dominated the endoscopy equipment market in the forecast period. The largest share of North America in the global market is attributed to the favorable reimbursement policies for endoscopic procedures in the high healthcare spending in the country, favorable reimbursement policies for endoscopic procedures, an increased incidence of cancer, constant research on endoscopy techniques, and a high number of FDA approvals for endoscopy systems in the US.
- Surging Requirement for Endoscopy to Diagnose and Treat Target Diseases
- Increasing Investments, Funds, and Grants by Governments and Other Organizations Worldwide
- Growing Focus of Hospitals to Invest in Technologically-Advanced Endoscopy Instruments and Expand Endoscopy Units
- Ongoing Advancements in Endoscopic Technologies to Ensure Patient Safety and Achieve More Accurate Treatments
- Rising Requirement of Endoscopy Procedures due to Increased Incidence of Chronic Diseases
- Increasing Preference for Minimally Invasive Surgeries
- Adoption of Single-Use Endoscopy Instruments to Prevent Infectious Diseases and Offer Increased Safety
- Rising Focus of Medical Specialists to Shift from Manual to Automated Endoscopy Reprocessing
- Unfavorable Healthcare Reforms in US
- High Overhead Costs of Endoscopy Procedures with Limited Reimbursement in Developing Countries
- High Risk of Viral Infections During Endoscopic Procedures
- Booming Healthcare Sector in Developing Economies
- Product Recalls Witnessed by Major Market Players
- Infections Caused by Some Endoscopy Products Offered by Giant Companies
- Shortage of Trained Physicians and Endoscopists
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Endoscopy Equipment Market, by Product
6.3 Visualization Systems
6.4 Other Endoscopy Equipment
6.5.9 Other Accessories
7 Endoscopy Equipment Market, by Application
7.2 Gastrointestinal Endoscopy
7.4 Obstetrics/Gynecology Endoscopy
7.6 Urology Endoscopy (Cystoscopy)
7.8 Ent Endoscopy
7.9.1 Rising Cases of Lung Cancer, Lymphoma, Tuberculosis, and Lung Infections to Drive Market
7.10 Other Applications
8 Endoscopy Equipment Market, by End-User
8.3 Ambulatory Surgery Centers/Clinics
8.4 Other End-Users
9 Endoscopy Equipment Market, by Region
10 Competitive Landscape
11 Company Profiles
- Ambu A/S
- Arthrex, Inc.
- B. Braun Melsungen Ag
- Boston Scientific Corporation
- Capsovision, Inc.
- Carl Zeiss Ag
- Conmed Corporation
- Cook Medical
- Dantschke Medizintechnik GmbH & Co. Kg
- Fortimedix Surgical B.V.
- Fujifilm Holdings Corporation
- Hoya Corporation
- Intuitive Surgical, Inc.
- Johnson & Johnson
- Karl Storz Se & Co. Kg
- Laborie Medical Technologies, Inc.
- Medtronic, plc
- Myelotec, Inc.
- Nipro Corporation
- Olympus Corporation
- Richard Wolf GmbH
- Smith & Nephew plc
- Steris plc
- Stryker Corporation
- Teleflex Incorporated
- The Cooper Companies, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/5icy1q
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