Endoscopes Market Is Expected To Boost $17.19 Billion By 2025

The global endoscopes market size is expected to reach USD 17.19 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 8.8% during the forecast period. Growing global geriatric population, high prevalence of gastrointestinal diseases, and rising technological advancements are the key factors contributing to market growth. Rising preference for minimally invasive surgeries (MIS) is also positively influencing the growth of the market.

Endoscopy surgeries are performed for diagnosis as well as treatment of gastrointestinal, gynecological, neurological, and cardiovascular diseases. Emergence of minimally invasive alternatives to open surgeries such as laparoscopy, hysteroscopy, and colonoscopy is boosting the demand for endoscopes. Preference of MIS is increasing owing to smaller incision, reduction in postoperative complications & mortality, and lesser trauma. Furthermore, they are economically viable alternatives to open surgeries.

Availability of technologically advanced endoscopes is also providing a significant push to the market. Market players are undertaking R&D initiatives to improve existing products as well as launch new products, which is expected to bolster the growth of the market. For example, VISERA 4K UHD System is a surgical system lunched by Olympus in 2016 with 55-inch primary operative display for enhancing MIS.

In March 2018, Auris Health, Inc. announced FDA approval of its new robotic endoscopy system, Monarch Platform. In June 2017, Olympus launched 3D surgical endoscope designed to be compatible with VISERA ELITE II system. It uses 3D imaging facilitating depth perception that enables precise surgery. Pentax Medical launched Slim Linear Ultrasound Endoscope (EG-3270UK) in the U.S. in August 2017.

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Further key findings from the report suggest:

• Flexible endoscopes emerged as the largest product segment in 2017, accounting for more than half of the market revenue
• Gastrointestinal endoscopy was the leading revenue contributor in the market, on the basis of applications, in 2017. On the other hand, urology endoscopy is expected to emerge as the fastest growing segment over the forecast period
• Hospitals was the largest end-use segment in 2018 in terms of revenue. Ambulatory surgery centers are rapidly gaining popularity and the segment is anticipated to register the highest CAGR during the same period
• North America was the dominant regional market in 2017 due to high healthcare expenditure, favorable reimbursement framework, growing elderly population and disease burden, and heightened adoption of technologically advanced products
• Asia Pacific is likely to exhibit a lucrative CAGR of 10.6% during the forecast period owing to economic development in emerging countries, improvement in healthcare infrastructure, and increase in awareness about MIS
• Olympus Corporation; Ethicon US, LLC; Fujifilm Holdings Corporation; Boston Scientific Corporation; Karl Storz GmbH & Co. KG; Stryker; Medtronic; and CONMED Corporation are the leading players in the endoscopes market.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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