Endoscopy Device Market- Industry Size, Trends, Global Growth, Insights and Forecast Research Report 2030

The Endoscopy Device Market is projected to grow from US$ 30,457.18 million in 2022 to US$ 52,100.72 million by 2030; it is estimated to record a CAGR of 6.9% during 2022-2030.

The report highlights prevailing trends and factors driving the market growth. The market growth is attributed to the surging preference for minimally invasive surgeries and the increasing prevalence of cancer-driving endoscopy device market size and growth. Additionally, the use of artificial intelligence in gastroenterology is likely to emerge as a significant trend in the market during the forecast period. However, risks of infections associated with endoscopic procedures hinder market growth during the forecast period 2022-2030.

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Analysis of the Top Market Players:

1. Boston Scientific Corp
2. Medtronic Plc
3. Stryker Corp
4. Johnson & Johnson
5. Karl Storz SE & Co KG
6. Olympus Corp
7. Ambu AS
8. Conmed Corp
9. B Braun SE
10. PENTAX Medical

In this report, the market has been segmented on the basis of:

Product
- Endoscopes
- Visualization Systems
- Accessories
- Other Endoscopy Devices

Application
- Gastroscopy
- Laparoscopy
- Arthroscopy
- Urology Endoscopy
- Bronchoscopy
- Laryngoscopy
- Otoscopy

End User
- Hospitals
- Ambulatory Surgical Centers

Increasing Demand for Minimally Invasive Techniques drives the market in the forecast period.

The growing demand for minimally invasive techniques in surgical procedures reflects a significant shift in medical practice and patient preferences. This trend is driven by the desire to minimize the invasiveness of procedures, reduce the associated risks, and promote faster recovery times. Endoscopy is a minimally invasive surgery procedure that involves a minimal incision size, shortened recovery time, and better visibility into the internal body cavity. A surgeon can visualize and work within the body cavity using an endoscope without making a large incision. Minimally invasive approaches typically involve smaller incisions and the use of specialized instruments and technologies to access different organs, which can lead to shorter hospital stays and less scarring.

Moreover, patients often experience less pain and a quicker return to their daily activities. Surgeons have embraced these techniques due to their potential benefits and advancements in medical devices and surgical skills. As a result, healthcare institutions are investing in training their medical teams and acquiring the necessary equipment to meet the increasing demand for minimally invasive endoscopy surgeries, thereby providing patients with improved treatment options and enhanced overall healthcare experiences.

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The use of artificial intelligence is the upcoming endoscopy device market trend.

The application of artificial intelligence (AI) in gastrointestinal (GI) endoscopy is drawing huge attention owing to its potential to improve the quality of endoscopy at all levels, alongside reducing or nullifying human errors and bringing higher accuracy, consistency, and speed. AI has the advantage of ruling out or limiting inter-operator variability. It can compensate for the limited experience of beginner endoscopists and the errors of the most experienced endoscopists. In November 2019, AI Medical Service Inc., one of the early developers of real-time AI-enabled endoscopy devices, secured Breakthrough Device Designation from the US FDA for its AI programs that analyze endoscopy images for potential diagnosis of gastric cancer.

Over the past four decades, the incidence of esophageal adenocarcinoma (EAC) has risen rapidly due to the increasing prevalence of overweight. AI assistance shows promising results in improving the detection and diagnosis of esophageal adenocarcinoma (EAC), thus reducing the mortality and morbidity associated with a poor prognosis after diagnosing this malignancy at an advanced stage.

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