What Is The Endoscopy Devices And Equipment Market Overview In 2022?
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The endoscopy devices and equipment market is forecasted to achieve significant growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 6%, as per The Business Research Company’s market report!
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The Endoscopy Devices And Equipment Market Size In 2022 And Forecast
The global endoscopy devices and equipment market grew from $7.22 billion in 2021 to $7.9 billion in 2022 at a compound annual growth rate (CAGR) of 9.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The endoscopy devices and equipment market is expected to grow to $10.1 billion in 2026 at a CAGR of 6.3%.
The endoscopy devices and equipment market consist of sales of endoscopy devices and equipment which are used to diagnose diseases or examine the interiors of organs.
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Rise In Incidence And Prevalence Rates Of Gastrointestinal Diseases Is Driving The Growth Of The Endoscopy Devices And Equipment Market
The Asian countries have the highest prevalence rates of gastrointestinal diseases such as cancer. In Korea, with every 39.6 persons per 100,000 suffering from cancer, Mongolia with 33.1 per 100,000, and Japan with 27.5 per 100,000 ranked as 1, 2, and 3 respectively. Due to the rising prevalence of GI diseases, developing countries are experiencing high demand for minimally invasive surgical procedures, increasing the demand for endoscopy devices.
Competitive Landscape And The Regional Analysis Of The Endoscopy Devices And Equipment Market
Major players in the endoscopy devices and equipment market are Olympus Corporation, Fujifilm, Boston Scientific Corporation, Conmed Corporation, Stryker Corporation, Smith & Nephew Plc, KARL STORZ GmbH & Co KG, Hoya Corporation, Johnson & Johnson, and Ethicon.
Additionally, as per TBRC’s research – North America was the largest region in the endoscopy devices and equipment market in 2021 holding the largest market share.
The Endoscopy Devices And Equipment Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the endoscopy devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the endoscopy devices and equipment market.
Developing Endoscopy Robotic Systems – A Key Trend In The Endoscopy Devices And Equipment Market
Companies in the endoscopy devices and equipment market are increasingly developing endoscopy robotic systems as they are more flexible, effective than conventional endoscopy devices. These robotic endoscopy devices help in eliminating difficulties in therapeutic endoscopy, expanding endoscopy’s vision and reach, reducing labor intensity, improving communication, reach, vision, control, and the ability to perform an endoscopy. These devices are used in gastrointestinal surgeries, urology/gynecology surgeries, ENT surgeries, cardiovascular surgeries, neuro/spinal surgeries, laparoscopy surgeries, and arthroscopy surgical applications.
Endoscopy Devices And Equipment Market Segmentation By The Business Research Company
1) By Product: Endoscope, Endoscopy Operative Devices, Endoscopy Visualization Systems
2) By Application: Bronchoscopy, Arthroscopy, Laparoscopy, Urology endoscopy, Neuroendoscopy, Gastrointestinal endoscopy, Obstetrics/gynecology endoscopy, ENT endoscopy, Other Applications
3) By End-User: Hospitals, Clinics, Other End Users
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