Endoscopy Market outlook and company's active in the industry | B.Braun, Boston Scientific, Conmed Corporation, Cook Medical LLC, Ethicon US, LLC, Fujifilm Corporation, Hoya Corporation, Storz, Medtronic, Olympus Corporation, Richard Wolf GmbH, Smith & Ne

Endoscopy Market size was valued around USD 26 billion in 2017 and is expected to witness growth of more than 6.0% CAGR from 2018 to 2024.

Rising incidences of gastrointestinal disorders will act as major driver for the growth of endoscopy market. Irritable Bowel Syndrome (IBS) is one of the most frequently diagnosed gastrointestinal disorder amongst the American population. In U.S., around 3.5 million people visit physician annually for IBS treatment thereby escalating demand for endoscopy procedures. GI disorders are highly prevalent in geriatric as well as the paediatric population escalating the overall demand for minimally invasive endoscopic procedures.

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Growing geriatric population has influenced industry growth positively. American geriatric population was around 46 million in 2016 and is estimated to reach 98 million by 2060. The drastic increase in elderly population will have significant impact on the endoscopy industry growth.

Major industry players operating in endoscopy industry are focusing on integrating advanced technology within the endoscopy devices to aid surgical performance and diagnostic decisions. For instance, Olympus launched technologically advanced capsule endoscope in February 2013, that was specifically used during non-invasive procedures. Innovations in the existing endoscopy devices have increased the adoption rates, thereby enhancing industry growth.

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High preference for technology integrated minimally invasive endoscopes by geriatric population has stimulated growth of global market in developed as well as developing economies. Industry leaders such as Stryker and Fujifilm have been adding improvisations in the endoscopy devices such as developing endoscopes that can detect ovarian tumours even on the mobile. Availability of such efficient and effective endoscopic devices for accurate diagnosis of gastrointestinal, pulmonary and bone disorders have propelled overall global market growth.

Lack of skilled physicians and endoscopists in developing countries may hinder the market growth. Unskilled endoscopists and physicians can reduce the accuracy of diagnostic procedures by wrong estimations. However, initiatives undertaken by government and industry players to train the endoscopists will help in sustaining endoscopy market growth.

U.S. endoscopy market will witness 6.4% CAGR during the forecast period owing to increasing number of baby boomers suffering from chronic gastrointestinal disorders along with rising prevalence of colon cancer in the country. Also, growing rates of surgical procedures that require endoscopies to aid diagnostic decisions will have positive impact on industry growth.

Germany endoscopy market was valued over USD 1.7 billion in 2017 due to continuous integration of advanced technology in the endoscopy devices and high technological adoption. Increasing cases of cancers such as colon, ovaries and kidney will further boost endoscopy market growth in Germany.

Major industry players operating in Endoscopy market are B.Braun, Boston Scientific, Conmed Corporation, Cook Medical LLC, Ethicon US, LLC, Fujifilm Corporation, Hoya Corporation, Storz, Medtronic, Olympus Corporation, Richard Wolf GmbH, Smith & Nephew PLC and Stryker.

Key industry leaders have been focusing on R&D to provide superior quality endoscopy devices in the market. In December 2017, Pentax Medical, a division of Hoya medical announced launched of HD duodenoscope with disposable distal cap for expansion of its endoscope product portfolio. Inorganic growth strategies such as strategic partnership and collaboration is also undertaken by market players to sustain market position and gain significant market share.

Endoscopy Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2013 to 2024, for the following segments:

Endoscopy Market by Product
• Endoscopes
• Visualization systems
• Endoscopic ultrasound
• Insufflators
• Others

Endoscopy Market by Application
• Arthroscopy
• Laparoscopy
• GI endoscopy
• Obstetrics/Gynecology
• ENT endoscopy
• Pulmonary endoscopy
• Others

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