Worldwide Endoscopy Industry to 2026 - by Product, Application, End-use and Region - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Endoscopy Market Analysis by Product, by Application (Laparoscopy, Gastrointestinal, Obstetrics, Urology, Arthroscopy), by End-Use, and by Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global endoscopy market size is estimated to be USD 33.76 billion in 2021 and is expected to witness a CAGR of 6.85% during the forecast period.
- Medtronic plc (Ireland)
- Richard Wolf GmbH (Germany)
- CONMED (U.S.)
- Hoya Corporation (Japan)
- Stryker Corporation (U.S.)
- Karl Storz SE & Co. KG (Germany)
- Boston Scientific Corporation (U.S.)
- Fujifilm Holdings (Japan)
- Johnson & Johnson (U.S.)
- Olympus Corporation (Japan)
Rising old-age population coupled with rising demand for minimally invasive surgery are key drivers for the growth of the global endoscopy market. Additionally, the increasing R&D in medical devices, changing lifestyle owing to rise in disposable income, government support, and growing cases of chronic diseases are some of the other drivers propelling the market growth. However, the expensive endoscopic procedure and difficult medical reimbursement policies are expected to restrain the global market growth
Based on product, the market is segmented into robot-assisted, disposable, capsule, rigid, and flexible. In 2021, the flexible endoscopes segment accounted for the largest revenue share with lucrative CAGR during the forecast period. This is attributed to the enhanced efficiency and safety, coupled with technological advancements in the medical-optics field. Disposable endoscopy segment projected to grow at the fastest CAGR during the forecast period. This is attributed to the rising need for one-time use of scopes, thereby minimizing the danger of infections associated with medical devices.
Based on application, the market is categorized into laparoscopy, gastrointestinal (GI) endoscopy, obstetrics/gynaecology endoscopy, urology endoscopy (cystoscopy), arthroscopy, bronchoscopy, otoscopy, mediastinoscopy, laryngoscopy, and others. The gastrointestinal (GI) endoscopy segment accounted for the highest revenue in 2021 and is projected to maintain its dominance over the forecast period.
The rise in incidences of gastroscopies, increase in adoption of endoscopic procedures for diagnosis and treatment, coupled with the accessibility of advanced gastroscopy devices is a key factor that drives the segment growth. The urology endoscopy segment is anticipated to grow at the fastest CAGR during the forecast period, due to the rising cases of haematuria, bladder cancer, & urinary tract stones, increasing incidences of urinary disorders, coupled with a growing old-age population.
Based on end-use, the market is categorized into ambulatory surgery centres, hospitals, and others. The hospitals segment accounted for the highest revenue in 2021 and is projected to maintain its dominance over the forecast period. The high preference for the endoscopic procedure in hospitals at large-scale is a key factor that drives the segment growth. The ambulatory surgery centres segment is anticipated to grow at the fastest CAGR during the forecast period owing to the shorter treatment wait time experienced by patients at these centres.
In 2021, North America accounted for the highest revenue share in the global market and is expected to maintain its dominance during the forecast period. This is attributed to the high awareness for endoscopy, presence of leading medical device companies, advanced healthcare infrastructure, and high investments in R&D in this region.
Asia Pacific market is projected to exhibit the fastest CAGR over the forecast period owing to the rising incidences of chronic diseases, escalating demand for advanced medication and treatment, and growing focus of government in this region.
The leading players operating in the endoscopy industry are adopting various strategies including R&D investments, novel product launches, mergers & acquisitions, and regional expansions to capture a maximum revenue share.This exhaustive research report focuses on market size and forecast at global, segmental, regional and country level along with key market trends and dynamics from 2021 to 2029.
For more information about this report visit https://www.researchandmarkets.com/r/crp2yc
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