The Global Market for Endoscopy Systems is Projected to Reach US$6.5 Billion by 2022

Growing Demand for Minimally Invasive Procedures Drives Growth in the Endoscopy Systems Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Endoscopy Systems market. The global market for Endoscopy Systems is projected to reach US$6.5 billion by 2022, driven by the growing replacement of conventional “open surgeries” with minimally invasive procedures, aging population, increasing incidence of cancer and GI diseases, growing access to better healthcare, and the focus on early diagnosis.

Surgical endoscopy is witnessing strong growth worldwide, supported by the numerous intraoperative, and postoperative benefits offered. The development of robot-assisted surgery and single incision surgery will continue to spur growth in the market. Major benefits of minimally invasive surgery driving its adoption among patients and physicians alike, include reduced trauma to the surgical site, lesser blood loss, shorter hospital stays, faster recovery, reduced risk of long-term surgical scarring and superior patient outcomes. Against this backdrop, demand for endoscopy systems is expected to witness strong growth. Endoscopy refers to the insertion of a tube-shaped device into the body to examine and repair diseased tissue and organs. The superior visualization capabilities offered by endoscopes provides physicians the opportunity to accurately diagnose and effectively perform required surgical intervention. Endoscopy is gradually becoming the primary technique for detection and treatment of chronic and acute gastrointestinal (GI) disorders and other ailments, driven by its unique capability to target hard-to-reach areas within the body.

A key factor driving growth in the market is the proliferation of endoscopy procedures across a broad range of specialties, such as, orthopedics, cardiology, gynecology, and urology among others. Also expected to fuel growth in demand is the rising popularity of “Natural Orifice Translumenal Endoscopic Surgery”, wherein the natural openings in the body, such as, mouth, nose, urethra, rectum, and vagina, serve as surgical routes. Technological advancements such as the development of high-definition and three-dimensional visualization devices pave the right track for market growth for endoscopy systems. Other key factors spurring growth include aging population, rising prevalence of chronic diseases, improving growing access to better healthcare services, and strong emphasis on early diagnosis. Technological developments in endoscopes and other related equipment have enabled tremendous improvements in diagnostic and surgical capabilities of these devices, thereby encouraging their adoption. Favorable reimbursement scenario in select regional markets, and government initiated launch of screening programs for early diagnosis, are driving growth in the market.  Early Cancer Detection Centers (ECDC), established by governments in developing countries, for instance, strengthens the business case for endoscopy systems.  Another key factor fuelling growth is the rise of office-based endoscopy. The number of ambulatory surgical procedures is increasing, supported by increased investments in office-based endoscopy systems and increasing number of accredited physician practices.

As stated by the new market research report on Endoscopy Systems, the United States represents the largest market worldwide, supported by the high prevalence of colorectal and other gastrointestinal related diseases, aging population and their complex medical needs. Asia-Pacific led by China, India and Taiwan is forecast to emerge as the fastest-growing market with a projected CAGR of 5.9% over the analysis period. The growth in the region is driven by developments in healthcare infrastructure, improvements in the quality of healthcare services, increased access to affordable healthcare, rising standards of living, increased per capita healthcare spending, growing prominence of capsule endoscopy in detecting pathologies such as tumors and lesions and rising trend of medical tourism in low cost countries.   

Major players covered in the report include Boston Scientific Corporation, EndoChoice Inc., CONMED Corporation, Cook Medical, Inc., Ethicon Endo-Surgery, Fujifilm Corporation, HOYA Corporation, Karl Storz GmbH & Co. KG, Medtronic Plc., Olympus Corporation, Richard Wolf Medical Instruments Corporation, and Stryker Corporation.

The research report titled “Endoscopy Systems: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in value (US$) for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. The market is also analyzed by the following product segments - Endoscopes and Visualization Equipment.

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