Market Definition
Endoscopes use optical fibres to produce image of inside the body and used in procedures called endoscopy. Endoscopes are minimally invasive and can be inserted into the body from the mouth or anus.
Global endoscopes market is estimated to reach $XX billion by 2027, growing at a CAGR of 8.2% till 2027.
Market Dynamics
The rising prevalence of chronic diseases such as cancer, heart diseases, and diabetes is boosting the market growth. For instance, according to the World Health Organization, the chronic disease had risen by 57% in 2020. According to the National Health Council, chronic diseases affect around 133 million Americans, representing more than 45% of the total population in 2018. According to the European Commission, Chronic diseases together account for over 86% of deaths in the European Union. According to the National Cancer Institute, in 2020, around 1,806,590 new cases of cancer will be diagnosed in the United States. According to World Health Organization (WHO), Cardiovascular diseases (CVDs) are the leading cause of death globally. About 17.9 million people die due to CVD each year, an estimate of 31% of deaths globally. More than 75% of cardiovascular disease deaths occur in lower and middle-income countries. According to the Centers for Disease Control and Prevention (CDC), in 2020, around 34.2 million people have diabetes in the United States. Further, increasing regulatory approval for endoscopes is a key driving factors of the market. However, product recall of endoscopes might hamper the market growth. For instance, Olympus Corp. has voluntarily recall about 4,150 endoscopes mostly sold in the United States and Europe due to risks of infection or malfunction. The company withdrawed about 3,900 units of the “BF-Q180” for examining bronchial tubes, which were sold in the United States and Europe between April 2005 and March 2019, due to higher rate of patient infections, than other comparable products. Moreover, technological advancement in endoscopes would provide lucrative opportunities for the market in coming years.
Market Segmentation
The global endoscopes market is mainly classified based on type, application, and end user. Type is further segmented into Rigid Endoscopes, Flexible Endoscopes, Capsule Endoscopes, Disposable Endoscopes, and Robot Assisted Endoscopes. By application the market is divided into Laparoscopy, Gastrointestinal Endoscopy, Gynecology Endoscopy, Arthroscopy, Cystoscopy, Bronchoscopy, Mediastinoscopy, Laryngoscopy, Otoscopy, and Other Applications. By end user the market is further divided into Hospitals, Ambulatory Surgery Centers/Clinics, and Other End Uses.
Based on type, flexible endoscope was dominating the endoscopes market in 2020, attributed to the growing preference for flexible endoscopes, technological advancements in flexible endoscopes, collaboration between companies to develop and supply flexible endoscopes, and increasing regulatory approval of flexible endoscopes. For instance, Ambu Inc., a rapidly growing medical device maker and pioneer of sterile, single-use endoscopes, has received Health Canada clearance for the aScope 4 Cysto. aScope 4 Cysto is an innovative flexible cystoscope platform for urology. The launch of aScope 4 Cysto will give immediate access to a single-use cystoscope option for diagnosing, managing, and treating lower urinary disorders such as hematuria, incontinence, and bladder cancer in Canada.
Regional Analysis
Based on geography, the global endoscopes market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is further divided in the U.S., Canada, and Mexico, whereas Europe consists of the UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific. The South America region includes Brazil, Argentina, and the Rest of South America, while the Middle East & Africa is categorized into GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.
North America was dominating the endoscopes market owing to the rising prevalence of chronic diseases such as cancer, heart diseases, and diabetes, rising adoption of technologies advanced endoscopes, the growing preference for minimally invasive surgeries to curb healthcare spending, and partnership between companies for distribution of endoscopes in North American region. For instance, Cook Medical and Ambu A/S has entered a partnership under which Cook will distribute Ambu’s single-use, disposable duodenoscope in the United States. The scope is being developed by Ambu to help address infections caused by cross-contamination.
Competitive landscape
Key players operating in the endoscopes industry include Boston Scientific Corporation, Karl Storz, Olympus Corporation, Ethicon US, LLC, FUJIFILM Holdings Corporation, Stryker, PENTAX Medical, CONMED Corporation, Richard Wolf Medical Instruments, Medtronic, Cogentix Medical, Ambu A/S, Inc., B Braun, NeoScope Inc., and Optimum Technologies, Inc.
The increasing mergers & acquisitions for companies to expand their presence, increasing R&D activity in the area of endoscopic technologies, rising investment for the development of technologically advanced endoscopes, and commercialization of regulatory approved endoscopes are some of strategies adopted by the major companies. For instance, on September 16, 2020, PENTAX Medical, a healthcare industry leader in diagnostic and therapeutic endoscopy, has introduced the new J10 Series Ultrasound Video Gastroscopes. The new PENTAX Medical J10 Series Ultrasound Video Gastroscopes deliver on both clinical and market needs, offering renowned image quality and enhanced maneuverability as an EUS solution.
Endoscopes Market Key Segments:
By Type
- Rigid Endoscopes
- Flexible Endoscopes
- Capsule Endoscopes
- Disposable Endoscopes
- Robot Assisted Endoscopes
By Application
- Laparoscopy
- Gastrointestinal Endoscopy
- Gynecology Endoscopy
- Arthroscopy
- Cystoscopy
- Bronchoscopy
- Mediastinoscopy
- Laryngoscopy
- Otoscopy
- Other Applications
By End User
- Hospitals
- Ambulatory Surgery Centers/Clinics
- Other End Uses
Key Global Endoscopes Industry Players
- Boston Scientific Corporation
- Karl Storz
- Olympus Corporation
- Ethicon US, LLC
- FUJIFILM Holdings Corporation
- Stryker
- PENTAX Medical
- CONMED Corporation
- Richard Wolf Medical Instruments
- Medtronic
- Cogentix Medical
- Ambu A/S, Inc.
- B Braun
- NeoScope Inc.
- Optimum Technologies, Inc
What Report Provides
- Full in-depth analysis of the parent Industry
- Important changes in market and its dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional growth potential