Endoscopy Equipment Market
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 growth of this market is driven by the increasing concentration of hospitals, especially in developed countries, to invest in the purchase of technologically advanced endoscopy instruments and in the expansion of endoscopy units as well as the continuous advancements endoscopic technologies to ensure patient safety and achieve more precise, accurate and reliable diagnosis and treatment results. However, high risk of contracting viral infection during endoscopic procedures is expected to restrain the growth of this market over the forecast period.
Endoscopy Equipment Market Dynamics
DRIVERS: Continuous improvements in endoscopic technology to assure patient safety and more precise treatments
Endoscopy has lately seen tremendous technological improvements and accomplishments. Endoscopic wait times are being reduced, and safer ways of removing polyps and collecting biopsy specimens are being investigated. These technological developments are expected to enhance not just diagnostic accuracy, but also the safety of endoscopic treatment. Among the noteworthy technological advances in endoscopy are:
- In October 2022, Carl Zeiss AG (Germany) got FDA certification for MTLawton, disposable bipolar forceps made of a copper-based alloy that may minimise tissue adhesion and consequent charring during tissue dissection.
- Smith & Nephew Plc (UK) will launch a Robot-assisted endoscope, Real Intelligence Suite of supporting technological solutions, including the next-generation robotics platform and the CORI Surgical System, in June 2021.
- EndoFresh (China) gained FDA approval for the Disposable Digestive Endoscopy System to detect and treat gastrointestinal illnesses in May 2021.
- Olympus Corporation (Japan) got an FDA-approved system for urological applications in June 2020, and it utilised thulium fibre laser technology for stone lithotripsy and soft-tissue applications.
- Boston Scientific (US) gained FDA clearance in December 2019 for their EXALT Model D Single-Use Duodenoscope, which is used in endoscopic retrograde cholangiopancreatography (ERCP) operations.
- Fujifilm Holdings Corporation (Japan) introduced six FDA-approved endoscopes to its endoscopic imaging solution range in September 2019 (ED-580XT, EI-580BT, EC-760P, EC-760S, EG-760CT, and EG-740N).
- Ongoing initiatives focused on technological developments by industry participants are projected to help the growth of the endoscopy equipment market in the coming years.
RESTRAINT: Endoscopic operations have a high risk of viral infection.
Viral infections can be transferred during an endoscopy operation in numerous ways, including direct touch or respiratory droplets; creation of infected aerosols during endoscopy; and contact with contaminated endoscopic equipment, accessories, and bodily fluids. Endoscopic procedures such as gastroscopy, colonoscopy, and endoscopic retrograde cholangiopancreatography are done on a daily basis, exposing endoscopists to a variety of respiratory, oropharyngeal, and gastrointestinal illnesses.
Because of the endoscopic unit, medical staff is also at greater risk of contracting a viral illness. Endoscopes are generally compact and closed units staffed by a variety of personnel, including endoscopists, nursing staff, technicians, anaesthetists, hospital attendants, patients awaiting various treatments, and a huge number of small and large equipment providers. Patients with a high viral load in their respiratory secretions can contaminate the endoscopic air and fomites with viruses that can survive for extended periods of time, putting uninfected patients and endoscopy workers at risk.
OPPORTUNITIES: In emerging economies, the healthcare industry is booming.
Several endoscopic equipment manufacturers are now establishing operations in Asia Pacific, the Middle East, and Latin America. Stryker and KARL STORZ have previously established production and R&D centres in these nations. Furthermore, market saturation in established countries such as North America and Europe will force endoscopic equipment producers to concentrate their efforts in emerging markets in the future years.
CHALLENGE: Product recalls have been seen by significant market participants.
Several product recalls have recently occurred in the market, most of which were caused by flaws in equipment production procedures. Product recalls by prominent firms like as Olympus Corporation, Boston Scientific Corporation, and Stryker Corporation represent a significant threat to the growth of the endoscopic equipment market in 2020-2023.
Market Overview- Executive summary
The endoscopic equipment market is divided in this study based on product, application, end users, and geography.
"The endoscopes segment accounted for the largest share of the endoscopy equipment market by product."
During the projected period, the endoscopes segment held the greatest share of the worldwide endoscopy equipment market. The growing inclination for less invasive treatments, as well as continuous developments in endoscopic technology, account for the considerable proportion of this market.
"By Application, the gastrointestinal endoscopy segment accounted for the largest share of the endoscopy equipment market."
During the projection period, the gastrointestinal endoscopy segment held the greatest share of the endoscopy equipment market. This segment's greatest share and fastest growth rate can be due to the rising prevalence of colorectal cancer (CRC) in younger individuals, which leads to increased use of GI endoscopy in CRC screening.
"By end user, the hospital segment accounted for the largest share of the endoscopy equipment market."
The medical device cleaning market is divided into three segments based on end user: hospitals, ambulatory surgery centers/clinics, and other end users. Because of the expanding number of hospitals and clinics in developed nations, as well as the increasing demand for minimally invasive operations, the hospitals category is expected to have the biggest market share by 2023.
"North America held the largest share of the medical device cleaning market by region."
During the projected period, North America led the endoscopic equipment market. The rising importance of cancer, increased hospital investments in endoscopic equipment for screening, and a significant focus on research efforts by US and Canadian research institutes to develop endoscopy procedures account for North America's greatest share of the worldwide market.
Key Market Players
Key players in the Endoscopy Equipment Market: Olympus Corporation (Japan), KARL STORZ SE & Co. KG (Germany), Stryker Corporation (US), Boston Scientific Corporation (US), JOHNSON & JOHNSON (US), Fujifilm Holdings Corporation (Japan), Medtronic Inc. (Ireland), Hoya Corporation (Japan), Nipro Corporation (Japan), Smith & Nephew Plc (UK), Richard Wolf GmbH (Germany), ConMed Corporation (US), Intuitive Surgical, Inc. (US), Cook Medical (US), Ambu A/S (Denmark), CapsoVision, Inc. (US), Fortimedix Surgical B.V. (Netherlands), B. Braun Melsungen AG (Germany), Medi-Globe (Germany), The Cooper Companies, Inc. (US), DantschkeMedizintechnik (Germany), Laborie Medical Technologies Inc. (Canada), Teleflex Incorporated (US), Cantel Medical Corp. (US), Carl Zeiss AG (Germany), and Arthrex, Inc. (US).
Scope of the endoscopy equipment market Report:
The research report categorizes the endoscopy equipment market into the following segments:
Endoscopy Equipment Market, By Product
- Endoscope
- Visualization System
- Other Endoscope Equipment
- Accessories
Endoscopy Equipment Market, By Application
- Gastrointestinal Endoscopy
- Laparoscopy
- Obstetrics/ Gynecology Endoscopy
- Arthroscopy
- Urology Endoscopy (Cystoscopy)
- Bronchoscopy
- Ent Endoscopy
- Mediastinoscopy
- Other Applications
Endoscopy Equipment Market, By End User
- Hospitals
- Ambulatory Surgery centers/Clinics
- Other End Users
Endoscopy Equipment Market, by Region
- North America North America
- US
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- Rest of Asia Pacific (RoAPAC)
- Latin America
- Middle East
- Africa
Recent Developments:
- In February 2021, Olympus Corporation (Japan) released the SIF-H190 single balloon enteroscopy solution, an endoscopic system that can reach deep into the small intestine.Johnson& Johnson (US) introduced the ENSEAL X1 Curved Jaw Tissue Sealer in June 2021, an improved bipolar energy device that boosts procedural efficiency while providing stronger sealing and greater access to more tissues.
- In May 2019, FUJIFILM Corporation opened a new smart manufacturing facility at the site of FUJIFILM Techno Products Co., Ltd., one of Fujifilm's endoscopic product production bases. From September 2019, the new production plant will be fully operational. To attain great production efficiency, this new manufacturing facility will make use of AI and IoT technology.