Flexible Endoscopes Market to Reach US$ 16.73 Billion by the end of 2033 Owing to Rising Expenditure on Medical Services and Infrastructure

The global flexible endoscopes market is anticipated to augment at a robust CAGR of 6.4% throughout the forecast period from 2023 to 2033. The global market is predicted to reach a valuation of US$ 16.73 Billion by the end of 2033, up from the US$ 8.44 Billion that was recorded for 2022. According to the historical analysis conducted by Future Market Insights, the global flexible endoscopes market expanded at a CAGR of 5.8% from 2015 to 2022 leaving a market valuation of US$ 8.44 Billion in 2022. The flexible endoscopes market contributes 60.9% value share to the global endoscopes market valued at US$ 13.8 Billion in 2022.

Across the globe, there is a significant increase in the overall standard of living, leading to a rise in expenditure on medical services and infrastructure. Attributing to the extensive spread of chronic diseases, people are now more aware of the value of routine check-ups and the need to be diagnosed for the presence of any disease. In addition to that, flexible endoscopes have rapidly become a useful tool for inspecting gastrointestinal tracts that are expected to show some signs of illness.

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Furthermore, the global market in developed countries is being fuelled by the growing popularity of this method of diagnosis, particularly among the geriatric population of such countries. A significant increase in the adoption of flexible endoscopes is now visible due to their advantages over other endoscopes. The ability of the surgeon to control the endoscope’s lens to change direction and broaden its range of use is the most favorable aspect of flexible endoscopes.

The freshly developed flexible endoscopy techniques are anticipated to elevate the adoption of flexible endoscopes. Since they provide better vision of a wider area of the colon with higher patient comfort than the other endoscopic techniques used at numerous hospitals and clinics. These factors are expected to augment growth in the market. The surging prevalence of chronic diseases has increased immensely which affects the internal body systems. The emergence of flexible endoscopes consists of more advantages than traditional methods. Endoscopes must be used extensively for diagnostic purposes when treating several chronic disorders, including stomach cancer, colon cancer, inflammatory bowel diseases (IBD), and respiratory infections. The increasing prevalence of these disorders is thus, driving up demand for flexible endoscopes.

Key Takeaways

• In numerous chronic disease conditions, many medical professionals advise early-stage diagnosis, which is anticipated to augment the demand for flexible endoscopes with lightning speed. These devices allow invasive procedures to become easier for medical practitioners to perform accurate diagnoses and make treatment less painful for patients.

• The requirement for flexible endoscopes is anticipated to increase as a result of hospitals and medical facilities investing heavily in the setup of flexible endoscope cameras using smartphone technology.

• Veterinary flexible endoscopes have drastically become popular among veterinarians in the field of animal care as animal husbandry commercialization and pet ownership have increased, especially in developed nations.

• The elevating demand for minimally invasive procedures has significantly increased over the past decade. Owing these procedures employed can effectively reduce the number and size of cuts or incisions performed on the body.

• Endoscopies are known to be minimally invasive medical procedures that enter the body through openings. Endoscopies have therefore been widely utilized for diagnostic purposes around the world. This causes the need for flexible endoscopes to soar, which in turn fuels the expansion of the market under study offering lucrative opportunities to the market players.

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Competitive Landscape

The flexible endoscopes market is known to be fragmented owing to the large number of manufacturers functioning in it. Furthermore, key market players are focusing on acquisitions, collaborations, and product certifications to expand their product portfolios and increase sales across the globe.

More Insights into the Flexible Endoscopes Market

The North American region is anticipated to dominate the global flexible endoscopes market over the assessment period. The United States is set to account for around 33.0% of the global market in 2023.

The market is anticipated to be dominated by the USA throughout the valuation timeframe. The growth is attributed to the rise in chronic diseases that call for the usage of flexible endoscopes. For instance, disorders like stomach cancer, colon cancer, irritable bowel syndrome, and others are quite prevalent in the nation due to the rapid increase in sedentary lifestyles.

Key Segments Covered in Flexible Endoscopes Industry Research

By Product:

• Upper Gastrointestinal Endoscope
  • Upper Gastrointestinal Videoscopes
  • Upper Gastrointestinal Fiberscopes
• Colonoscopes
  • Video Colonoscopes
  • Fiber Colonoscopes
• Bronchoscopes
  • Video Bronchoscopes
  • Fiber Bronchoscopes
• Sigmoidoscopes
  • Video Sigmoidoscopes
  • Fiber Sigmoidoscopes
• Laryngoscopes
  • Video Laryngoscopes
  • Fiber Laryngoscopes
• Duodenoscopes
  • Video Duodenoscopes
  • Fiber Duodenoscopes
• Nasopharyngoscopes
  • Video Nasopharyngoscopes
  • Fiber Nasopharyngoscopes
• Rhinoscopes
  • Video Rhinoscopes
  • Fiber Rhinoscopes
• Neuroendoscope
• Cystoscopes
  • Video Cystoscopes
  • Fiber Cystoscopes
• Laparoscopes
  • Video Laparoscopes
  • Fiber Laparoscopes
• Other Flexible Endoscope

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By Application:

• Gastrointestinal (GI) Endoscopy
• Laparoscopy
• Arthroscopy
• Obstetrics/Gynecology Endoscopy
• Urology Endoscopy (Cystoscopy)
• ENT Endoscopy
• Bronchoscopy
• Mediastinoscopy
• Others

By End User:

• Hospitals
• Ambulatory Surgery Centers
• Specialty clinics

About FMI:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 9-years.

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