Endoscopy Equipment Market Is Anticipated To Reach USD 56.8 Billion By 2032 | Fujifilm Holdings Corporation , Medtronic , Hoya Corporation

The global endoscopy equipment market was valued at USD 27.6 billion in 2022 and it is anticipated to grow up to USD 56.8 billion by 2032, 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.

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), among others.

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COVID-19 Impact

A worldwide emergency has been caused by the COVID-19 pandemic. The risk of COVID-19 infection is higher for surgeons and patients who visit hospitals for various procedures. All elective procedures in Germany were either cancelled or postponed because hospitals there are overflowing with COVID-19 cases. Major hospitals in Germany had to postpone between 40 and 50 percent of their endoscopic treatments. In the second and third quarters of 2020, endoscopic equipment sales decreased.

Contrary to autoclavable endoscopes, disposable endoscope sales have increased as fewer hospitals and clinics are able to follow and put into practise the exacting COVID-19 guidelines proposed by the German Respiratory Society (Deutsche Gesellschaft für Pneumologie und Beatmungsmedizin or DGP) and the European Society for Gastrointestinal Endoscopy (ESGE). To reduce the danger of infection, it is advised to employ personal protective equipment, negative pressure suites, and ward isolation.

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This release was published on openPR.