Endoscopy Equipment Market is Projected to Reach USD 40.6 Billion by 2027| Olympus Corporation (Japan), KARL STORZ SE & Co. KG (Germany), Stryker Corporation (US), Boston Scientific Corporation (US)

The global endoscopy equipment market is projected to reach USD 40.6 billion by 2027 from USD 28.9 billion in 2022, at a CAGR of 7.0%. Endoscopy procedures are minimally invasive procedures wherein endoscopy instruments and supplies are used to examine a patient's internal organ or tissue in detail. While conducting endoscopy, various tools and equipment, such as procedure-specific scopes, anesthetic equipment, video monitors, light sources, imaging devices, monitoring equipment, endoscope cabinets, video processors, insufflators, endoscopy cart, are used to ensure a safe procedure. Endoscopy equipment are primarily used by gastroenterologist, cardiologist, nephrologist, neurologist, hepatologist, and gynecologist.

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North America to dominate the endoscopy equipment market during the forecast period

The endoscopes market in North America dominated the market in the forecast period. The largest share of North America in the global market is attributed to the favorable reimbursement policies for endoscopic procedures in the US, increased prominence of cancer, high investments by hospitals to purchase new endoscopic equipment, strong focus on research activities to improve endoscopy techniques, as well as the implementation of a new funding model by Canadian hospitals.
Key Market Players

The prominent players of global endoscopy equipment 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), Fortimedix Surgical B.V. (Netherlands), Cook Medical (US), Ambu A/S (Denmark), CapsoVision, Inc. (US), The Cooper Companies, Inc. (US), Teleflex Incorporated (US), Carl Zeiss AG (Germany), and Arthrex, Inc. (US). These companies adopted strategies such as product launches, partnerships, acquisitions, and expansions to strengthen their presence in the endoscopy equipment market.

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Olympus Corporation (Japan)

Olympus Corporation is a leading player in the endoscope equipment market. The company's broad portfolio related to endoscope equipment is its key strength. The company offers a wide range of endoscopes, such as endoscopic systems, surgical endoscopes, gastrointestinal endoscopes, and repair services. The company invests a significant amount of its revenue in research and development to launch technologically advanced products in the market. In 2021, the company invested 11.2 % of the total revenue in research and development. Hence, endoscopes and endotherapy devices offered by the company ensure early diagnosis and minimally invasive treatment, thereby improving patients' quality of life.

Boston Scientific Corporation (US)

Boston Scientific Corporation has a strong geographic presence in the US, Asia Pacific, and other main markets in Europe. The company exclusively offers endoscopy equipment dedicated to gastroenterology, pulmonary, and interventional bronchoscopy applications. However, there was a steady growth in the R&D expenditure from USD 1174 million in 2019 to USD 1204 million in 2021. Through the endoscopy business segment, the company develops and manufactures devices to diagnose and treat a broad range of gastrointestinal (GI) and pulmonary conditions with innovative, less invasive technologies.

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