The global endoscopy devices market was estimated at USD 50.90 billion in 2023 and is expected to surpass around USD 106.87 billion by 2033, poised to grow at a compound annual growth rate (CAGR) of 7.7% during the forecast period of 2024–2033.
Key Takeaways:
Endoscopy Devices Market Report Scope
| Report Coverage | Details |
| Market Size in 2024 | USD 50.90 Billion |
| Market Size by 2033 | USD 106.87 Billion |
| Growth Rate From 2024 to 2033 | CAGR of 7.7% |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Segments Covered | Product, End-Use, Region |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Regional Scope | North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa |
| Key Companies Profiled | Olympus Corporation; Ethicon Endo-surgery LLC.; FUJIFILM Holdings Corporation; Stryker Corporation; Boston Scientific Corporation; Karl Storz GmbH & Co. KG.; Smith & Nephew Inc.; Richard Wolf GmbH; Medtronic Plc (Covidien); PENTAX Medical; Machida Endoscope Co., Ltd. |
The less-invasive properties and affordable post-procedure cost of endoscopy devices are the major factors anticipated to boost the market growth over the forecast period. Furthermore, a shift in the trend to use disposable endoscopic components to minimize the procedure cost as well as the chance of cross-contamination is also expected to accelerate market growth over the years.
In addition, the growing chronic disease burden and increasing geriatric population globally are also anticipated to fuel the adoption of endoscopic devices during the coming years. Moreover, growing medical conditions due to the increasing geriatric population often require endoscopic intervention such as liver abscesses, gallstones, endometriosis, and intestinal perforation, which in turn anticipated to drive the market growth for endoscopy devices over the forecast years. For instance, as per the Administration on Aging (AoA) of the U.S. Department of Health and Human Services report, about 16% of the population was aged above 65 years in 2019. This number is expected to increase to 21.6% by 2040.
In addition, increasing preference by medical professionals to use technologically advanced endoscopy devices equipped with high-definition camera and light sources to help physicians analyze internal organs of interest also drives the market growth. The shift of preference towards minimally invasive surgical procedures than traditional surgeries to reduce hospital stay and minimize post-procedure complications are the major factors anticipated to fuel the demand for endoscopy devices. Hence, factors such as higher patient satisfaction, increased economic viability, and lesser hospital stays are expected to increase the demand for minimally invasive endoscopic interventions in the coming years, thereby accelerating market growth.
Furthermore, the growing burden of cancer all over the world also fuels the adoption of endoscopy devices for the early diagnosis and treatment of the disease. For instance, GLOBOCAN 2020 estimated 19.3 million new cancer cases worldwide and almost 10 million deaths occurred in 2020 due to cancer. In addition, the increasing preference for biopsies for diagnosis and detection of cancer in recent years is also likely to increase the adoption of endoscopic devices, which in turn is anticipated to drive the market for endoscopy devices over the years.
Technological advancement to develop innovative endoscopic devices is also anticipated to accelerate market growth during forecast periods. The key manufacturers are continuously looking forward to innovating advanced endoscopic solutions for better treatment and diagnosis of several chronic disorders. For instance, in August 2021, Fujifilm Holdings Corporation announced the commercial launch of the ELUXEO 7000X Endoscopic Imaging System. This advanced imaging system enables real-time visualization of hemoglobin oxygen saturation (StO2) levels in tissue during laparoscopic and/or endoluminal imaging procedures.
The endoscopy devices industry has been significantly impacted by the COVID-19 pandemic. The reduction and postponement of elective surgeries due to the fear of COVID-19 infection have negatively impacted the growth of the market for endoscopy devices. In addition, supply chain disruptions, changing regulations for surgical procedures, are some of the factors that also hampered market growth in 2020. For instance, according to an international study published in the Arab Journal of Gastroenterology, Elsevier in 2020, the endoscopic procedure volume was reduced by over 50% of the 85% of the global respondent countries during the COVID-19 pandemic.
Product Insights
The product segment comprises endoscopes, endoscopy visualization systems, endoscopy visualization components, and operative devices segments. The endoscopes segment dominated the market in 2023 with the largest revenue share of 36.9% and is also anticipated to register the fastest CAGR of 9.0% over the forecast period. Growing awareness and rising adoption rate of endoscopes across various diagnostic and therapeutic procedures are driving the market growth of endoscopes. In addition, endoscopes aid in diagnosis of complex disease conditions such as cancer, GI disorders, urinary disorders, and lung disorders. This high growth rate is attributed to the increasing number of endoscopic procedures coupled with the high adoption of endoscopes to perform surgeries and biopsies for better diagnosis and treatment.
The flexible endoscopes segment dominated the endoscopes segment and held the largest revenue share in 2023, owing to its high use by medical professionals and its advantages such as safety, increased efficiency, and enhanced ergonomics as compared to rigid endoscopes.
End-use Insights
The end-use segment comprises hospitals and outpatient facilities segments. The outpatient facilities’ segment dominated the market in 2023 with the largest revenue share of 55.0%. The outpatient facilities segment is also anticipated to register the fastest CAGR of 8.2% over the forecast period. Outpatient facilities such as ambulatory surgery centers and diagnostic clinics are expected to witness lucrative growth owing to the growing preference for minimally invasive procedures to lower overall cost and reduce the number of days of hospital stays which in turn is expected to drive the growth of the segment.
In addition, faster recovery time, and minimal discomfort due to the use of less invasive keyhole endoscopic procedures also accelerate the adoption of endoscopy devices in outpatient facilities, which in turn is anticipated to propel segment growth over the forecast period.
Regional Insights
Based on region, North America held the largest revenue share of 43.0% in 2023. This is attributed due to the growing prevalence of several chronic diseases such as cancer, diabetes, cardiovascular diseases along with functional gastrointestinal disorders. In addition, the increasing geriatric population, those who are prone to several chronic disorders also propelling the adoption of endoscopic procedures in this region. Moreover, growing awareness for early disease diagnosis using minimally invasive procedures and improved healthcare infrastructure are further boosting the market growth in this region.
Furthermore, in Asia Pacific, the market for endoscopy devices is expected to witness the fastest CAGR of 8.7% over the forecast years owing to the large population and an increasing number of functional gastrointestinal disorder patients. In addition, growing demand for the minimally invasive endoscopic procedure and improving healthcare infrastructure are the factors also anticipated to accelerate the region's growth in the market. Moreover, increasing government initiatives to modernize healthcare facilities and constantly develop a start-up landscape are among the major factors further promoting the growth of the market in the region.
Some of the prominent players in the endoscopy device market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the global endoscopy devices market.
Product
End-use
By Region
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles
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Additional Countries (Apart
From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers