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Global Flexible Endoscopes Market Comprehensive Study: Forecasted Market Size And Growth Rate | Medtronic PLC, Fujifilm Holdings Corporation, Becton Dickinson and Company, Stryker Corporation
Flexible Endoscopes Market Characteristics
The Business Research Company offers in-depth market insights through Flexible Endoscopes Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The flexible endoscopes market size has grown strongly in recent years. It will grow from $8.95 billion in 2023 to $9.7 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to advancements in medical technology, rising prevalence of gastrointestinal diseases, diagnostic and treatment advancements, global healthcare access.
The flexible endoscopes market size is expected to see strong growth in the next few years. It will grow to $12.94 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to personalized medicine, telemedicine and remote procedures, patient education and awareness, reimbursement policies. Major trends in the forecast period include artificial intelligence integration, capsule endoscopy, 3d imaging, endoscopy in pediatric care.
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Market Segmentation:
The main types of products included in flexible endoscopes are fiberscopes and video endoscopes. A fiberscope, also known as a fiberoptic endoscope, is a medical device used for visualizing and examining internal structures of the body. It employs fiber optic technology to transmit light and images from the distal end (the tip) to the proximal end (the eyepiece or camera system) of the scope. These are used for several applications, such as GI endoscopy, pulmonary endoscopy, ENT endoscopy, obstetrics or gynecology, urology and others and are used by various end-users, including hospitals, ambulatory surgery centers and others.
Major Driver - Rising Prevalence Of Chronic Diseases Fuels Demand For Flexible Endoscopes In Healthcare
The rising prevalence of chronic diseases is expected to propel the growth of the flexible endoscopes market going forward. Chronic diseases are long-term medical conditions that persist over an extended period and often progress slowly. Flexible endoscopes offer early identification and reliable diagnosis of a variety of chronic disorders, including respiratory, gastrointestinal (GI) and urological diseases, by providing direct viewing. They are also utilized for therapeutic interventions in chronic diseases. For instance, in January 2023, according to the National Center for Biotechnology Information, a US-based division of the National Library of Medicine (NLM), which is part of the National Institutes of Health (NIH), there will be 142.66 million people aged 50 and older in 2050 who have at least one chronic disease, up from 71.522 million in 2020, indicating a 99.5% rise. Simultaneously, it is anticipated that the number of people with multimorbidity will rise by 91.16%, from 7.83 million in 2020 to 14.97 million in 2050. Therefore, the increase in the prevalence of chronic diseases is driving the growth of the flexible endoscopes market.
Competitive Landscape:
Major players in the flexible endoscopes market are Medtronic PLC, Fujifilm Holdings Corporation, Becton Dickinson and Company, Stryker Corporation, Boston Scientific Corporation, AB SKF, Olympus Corporation, HOYA Corporation, Smith & Nephew PLC, Micro-Epsilon Messtechnik GmbH & Co. KG, EndoChoice International, Pentax Medical, Ambu Inc., Richard Wolf GmbH, Welch Allyn Inc., Cooper Surgical Inc., Ethicon Endo-surgery LLC, Vimex Endoscopy, Endo-Flex GmbH, Machida Endoscope Co Ltd., XION GmbH, Huger Medical Instrument Co. Ltd., Endomed Systems Gmbh, Karl Storz GmbH & Co. KG., Laborie Medical Technologies Inc., ACMI Corporation.
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Top Trend - Innovative Flexible Endoscopes Enhance Patient Comfort And Diagnostic Quality In Healthcare
Major companies operating in the flexible endoscopes market are innovating new products and getting approvals for them to sustain their position in the market. The development in flexible endoscope provide better comfort and with the introduction of Zsquare ENT-Flex Rhinolaryngoscope, it offers increased patient comfort compared to traditional reusable endoscopes. For instance, in July 2022, Zsquare, an Israel-based developer of flexible, high-resolution single-use endoscopes, announced the FDA's (Food and Drug Administration) approval of the Zsquare ENT-Flex Rhinolaryngoscope, the first high-performance single-use ENT (ear, nose and throat) endoscope. It is the first single-use endoscope to utilize a hybrid design, with an all-optical disposable shell covering a reusable component. This flexible endoscope has an improved design offers medical practitioners high-resolution imaging through the most undersized diameter endoscope shaft at the lowest cost-per-use in single-use endoscopy. A few advantages of this innovative engineering include increased diagnostic quality, patient comfort and significant cost savings for payers and providers.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Flexible Endoscopes Market Characteristics
3. Flexible Endoscopes Market Trends And Strategies
4. Flexible Endoscopes Market - Macro Economic Scenario
5. Flexible Endoscopes Market Size And Growth
…..
27. Flexible Endoscopes Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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