The global flexible endoscopes market was valued at USD 5.4 billion in 2021 and it is anticipated to grow up to USD 11.0 billion by 2031, at a CAGR of 7.4% during the forecast period.
Flexible endoscopes are typically made from a long, thin, flexible tube that is equipped with a light source and a camera. The camera is used to transmit images of the interior of the body to a monitor, where they can be viewed by the doctor. Flexible endoscopes are generally safe, but there is a small risk of infection associated with their use. There is also a risk of tissue damage if the endoscope is not used properly.
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Market Trends and Drivers
The innovation of medical technology continues to shape the future of healthcare. Devices such as fiberscopes and video endoscopes have undergone constant advancements over recent years. Nanotech and other breakthrough technologies are also being leveraged to minimize inflammation and infection risk, and subsequently improve the success rate of procedures. The rapid tech development is creating a positive outlook for the flexible endoscopes industry worldwide. Industry players are also emphasizing research and development activities to develop cutting-edge medical technologies and commercialize advanced flexible endoscope components. Gastrointestinal (GI) disorders are among the debilitating health conditions, with 5.9% of the adults diagnosed with ulcers in 2018, according to the Centers for Disease Control and Prevention. Since endoscopy is considered a critical diagnostic tool for digestive disorders, the growing GI disease burden will provide lucrative opportunities for flexible endoscopes market expansion over the forecast period.
Major Players in the Global Flexible Endoscopes Market
The key players in the flexible endoscopes market are Becton, Dickinson and Company, Boston Scientific Corporation, Endomed Systems, Fujifilm Corporation, Hoya Corporation (Pentax Medical), Karl Storz, Laborie Medical Technologies, Olympus Corporation, Richard Wolf GmbH, among others.
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According to WHO, around 30% of healthcare facilities globally are not equipped to handle medical waste loads. The global flexible endoscopes market experienced tremendous pressure during the COVID-19 pandemic due to the high demand for healthcare waste management services. There is a large concern about hazardous medical waste produced during the COVID-19 pandemic and the risks of contamination associated with waste management. According to WHO, till now, around 10,000 tons of extra medical waste has been generated in response to the COVID-19 pandemic. While countries were actively procuring commodities such as personal protective equipment, PPE kits, diagnostic test kits, disinfectant chemicals, and vaccines, less attention and resources were allocated to the safe and sustainable management of COVID-19-related medical waste.
Global Flexible Endoscopes Market Segmentation
- Video endoscope
- GI Endoscopy
- Pulmonary Endoscopy
- ENT Endoscopy
- Ambulatory Surgical Centers
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