Endoscopy Devices Market, by Products (Endoscopy Visualization Systems, Mechanical Endoscopy Equipment, Accessories, Other Endoscopy Devices); by Applications (Arthroscopy, Urology Endoscopy, Bronchoscopy, Neuro-endoscopy, Gynaecology Endoscopy, Gastrointestinal Endoscopy, ENT Endoscopy, Laparoscopy, Other Applications); by End-Users; and by Region (North America, Europe, Asia Pacific, Latin America, MEA); - Global Forecasts 2021 to 2027

The Global Endoscopy Devices Market Size was valued at USD 36.9 Bn in 2020 and is expected to reach USD 59.3 Bn by 2027, growing at a CAGR of 7.1% during the forecast period.

The devices are used in medical imagining to look inside the body to examine the cavity of the body or interior organ. This endoscopy device is directly inserted into the body to examine organs to diagnose, prevent, and treat diseases and complications regarding internal organs.

Endoscopy Devices Market Dynamics

The main driving factors for the endoscopy devices market growth are the increasing adoption of minimally invasive endoscopic procedures and the rising use of endoscopic bariatric metabolic therapies due to growing awareness about endoscopy devices. The increasing prevalence of gastrointestinal, urological, gynecological, and respiratory disorders and rising incidence of cancer and obesity due to the unhealthy lifestyle of the populace are considerably the boosting factors for the growth of the targeted market.

Moreover, the launch of the new product owing to advancement in technology is another propelling factor for the growth market. However, the lack of skilled professionals to operate the endoscopy devices and infection caused by few endoscopic procedures are expected to impede the growth of the endoscopy devices market. The presence of a strong pipeline of the endoscopy devices products can create lucrative opportunities for the growth of the market.

The Global Endoscopy Devices Market Segmentation:

By Product

• Endoscopy Visualization Systems
• Mechanical Endoscopy Equipment
• Accessories
• Other Endoscopy Devices

By Applications

• Arthroscopy
• Urology Endoscopy
• Bronchoscopy
• Neuro-endoscopy
• Gynecology Endoscopy
• Gastrointestinal Endoscopy
• ENT Endoscopy
• Laparoscopy
• Other Applications

By End-Users

• Hospitals
• Ambulatory Surgery Centers and Clinics
• Other End Users

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

The unique insights provided by this report also includes the following:

• In-Depth Value Chain Analysis
• Opportunity Mapping
• Sector Snapshot
• Key Players Positioning Matrix
• Regulatory Scenario
• Strategies Adopted-Benchmarking Heat Map
• Market Trends
• COVID-19 Impact Analysis
• Product Comparison
• Pre & Post COVID 19 Impact on The Global Endoscopy Devices Market 
• Competitive Landscape

Based on product, the endoscopy visualization systems segment is expected to hold the largest share in the global endoscopy devices market due to increased advancement in endoscopy visualization systems technology

Based on the product, the endoscopy devices market has been segmented into endoscopy visualization systems, mechanical endoscopy equipment, accessories, other endoscopy devices. The endoscopy visualization systems segment held the highest share in the base year. The increasing demand for endoscopy visualization systems among surgeons that make the surgical procedure easier due to its property of visualization that helps to locate the exact site for the surgery. Additionally, it lowers the risk of complications and helps for quick recovery which are the driving factors for the growth of the endoscopy visualization systems segment.

Based on applications, the laparoscopy segment is accounted for the highest share in 2020, due to the increased prevalence of cancer

In the base year 2020, the laparoscopy segment is expected to grow at the highest rate during the forecast period. Laparoscopy is used to detect the disorders of the abdomen pelvic region and detect cancer are the major propelling factors for the growth of the laparoscopy segment in the endoscopy devices market over the forecast period. For instance, the International Agency for Research on Cancer estimates that the global incidence of cancer is expected to reach 29.5 million by 2040 from 18.1 million in 2018.

Geographically, North America accounted for the largest share of the global endoscopy devices market

In the base year 2020, North America dominated the market. The major reasons behind the dominance of the North America region are the increasing prevalence of gastrointestinal, urological, gynaecological, and respiratory disorders in the region and increased healthcare expenditure. The easy availability of endoscopic devices in this region and increased awareness about minimally invasive surgeries.

The technological advancement, the increasing prevalence of cancer, and the raised demand for endoscopic procedures are some other factors that are expected to drive the global endoscopy devices market growth in the North America region.

The report also provides an in-depth analysis of the global endoscopy devices market dynamics such as drivers, restraints, opportunities, and challenges

Drivers

• Increasing adoption of minimally invasive endoscopic procedures
• Increasing prevalence of gastrointestinal, urological, gynecological, and respiratory disorders
• Increasing prevalence of cancer and obesity
• Rising use of endoscopic bariatric metabolic therapies
• Entry of new products such as lunch of EVIS X1 endoscopy system

Restraints

• Lack of trained physician and endoscopist
• Infection caused by few endoscopic procedures

Opportunities

• Increasing awareness about endoscopy devices
• Strong pipeline for the medical devices

Challenges

•   Unreached demand for endoscopy devices in developing countries

COVID-19 Impact on the Global Endoscopy Devices Market Growth

COVID-19 has highly affected the industries in terms of growth, economy, health, and mental well-being of every individual. In this challenging situation, every industry is trying to give the best services in terms of quality and safety. The outbreak of COVID-19 has affected positively on the healthcare industry and the endoscopy devices market. This is due to increasing respiratory and infectious disorders in patients. However, due to the outbreak of COVID-19, the funding for the innovation in endoscopy devices distracted is the restraining factor for the growth of the global market.

The report also provides an in-depth analysis of key trends in global endoscopy devices market

• High adoption of minimally invasive procedures
• Rising expenditure on research and development activities for improving technologies and quicker recovery of surgeries related to endoscopy devices

The report also provides an in-depth analysis of recent news developments and investments

• In November 2020, Olympus Corporation introduced two devices hybrid tubing and procedure kits. These devices are launched to reduce contamination and procedural time.
• In August 2020, Olympus Corporation acquired Arc Medical Design Ltd. and allowed Olympus Corporation to increase their business portfolio to develop the devices for detection of the early-stage colorectal cancer.

Company Profiles and Competitive Intelligence

The key players operating in the endoscopy devices market are:

• Boston Scientific Corporation
• Conmed Corporation
• Fujifilm Holdings Corporation
• Hoya Corporation
• Johnson & Johnson
• Karl Storz GmBH & CO. KG
• Medtronic PLC
• Medrobotics Corporation
• Olympus Corporation
• Richard Wolf GmBH
• Smith & Nephew PLC
• Stryker Corporation
• Ethicon US, LLC.
• Covidien PLC
• Artherx Inc.
• Cook Medical
• Nipro Corporation
• CapsoVision, Inc.
• Laborie Medical Technologies Inc.
• Cantel Medical Corp.

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