The global endoscopy equipment market was valued at USD 27.6 billion in 2021 and it is anticipated to grow up to USD 56.8 billion by 2031, at a CAGR of 7.5% during the forecast period.
One of the most popular medical imaging devices in use today is the endoscope. Endoscopes are introduced by a physician or surgeon right into the organ, in contrast to conventional imaging tools. The endoscope has a camera and light on one end, which the doctor can use to view the visual in real time on a screen. To view detailed images of the intestinal wall and surrounding organs, ultrasound endoscopes use sound waves rather than cameras. These tools are also useful for inserting endoscopic implants in addition to imaging.
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Market Trends and Drivers:
Endoscopy operations are minimally invasive surgical procedures that involve the use of small tubes, miniature cameras, and surgical tools through one or more small incisions. The main benefits of endoscopic procedures include less pain, a shorter or no hospital stay, or fewer difficulties with pre- and post-surgery treatment. Because of this, these operations are more affordable, more successful, and safer than conventional open surgeries. Additionally, health insurance companies in wealthy nations including the United States, Canada, the United Kingdom, Germany, Australia, and a few Middle Eastern nations like the United Arab Emirates cover these operations. These elements contribute to both patients’ and doctors’ strong preferences for endoscopic operations. In the US, there are roughly 11.0 million colonoscopies conducted annually, 6.1 million upper endoscopies, 313,000 flexible sigmoidoscopies, 178,400 upper endoscopic ultrasonography exams, and 169,500 Endoscope Reprocessing procedures.
Market Restraints and Challenges:
To efficiently perform endoscopic treatments and stop the spread of infections in endoscopy facilities, trained experts are needed. Numerous endoscopy procedures performed annually around the world are predicted to suffer from the shortage of competent endoscopy doctors and nurses in important places. A few industry participants, including Olympus, have set up training facilities to address this issue. The business operates 22 endoscopic training facilities in Asia alone. Such activities will raise knowledge of the most recent developments in endoscopy technology and boost the pool of qualified endoscopic experts.
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Market Segments:
By Product
- Endoscope
- Visualization System
- Other Endoscope Equipment
- Accessories
By Application
- Gastrointestinal Endoscopy
- Laparoscopy
- Obstetrics/Gynecology Endoscopy
- Arthroscopy
- Urology Endoscopy
- Bronchoscopy
- ENT Endoscopy
- Mediastinoscopy
By End User
- Hospitals
- Ambulatory Surgery Centers/Clinics
Major Players in the Global Endoscopy Equipment Market:
The key players in the market are Olympus Corporation (Japan), KARL STORZ SE & Co. KG (Germany), Stryker Corporation (US), Boston Scientific Corporation (US), JOHNSON & JOHNSON (US), Fujifilm Holdings Corporation (Japan), Medtronic Inc. (Ireland), Hoya Corporation (Japan), Nipro Corporation (Japan), Smith & Nephew Plc (UK), Richard Wolf GmbH (Germany), ConMed Corporation (US), Intuitive Surgical, Inc. (US), Cook Medical (US), Ambu A/S (Denmark), CapsoVision, Inc. (US), Fortimedix Surgical B.V. (Netherlands), B. Braun Melsungen AG (Germany), Medi-Globe (Germany), The Cooper Companies, Inc. (US), Dantschke Medizintechnik (Germany), Laborie Medical Technologies Inc. (Canada), Teleflex Incorporated (US), Cantel Medical Corp. (US), Carl Zeiss AG (Germany), and Arthrex, Inc. (US).
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