Flexible Endoscopes Market Report on the Untapped Growth Opportunities in the Industry

InsightAce Analytic announces the release of a market assessment report on the "Global Flexible Endoscopes Market Size, Share & Trends Analysis Report By Type (Laparoscopes, Arthroscopes, Ureteroscopes, Cystoscopes, Gynecology Endoscopes, Neuroendoscopes, Bronchoscopes, Hysteroscopes, Laryngoscopes, Sinuscopes, Otoscopes, Sigmoidoscopes, Pharyngoscopes, Duodenoscope, Nasopharyngoscopes, Rhinoscopes and Colonoscopes), By End-use (Hospitals, Outpatient Facilities)- Market Outlook And Industry Analysis 2031"

The Global Flexible Endoscopes Market Size is valued at 9.22 billion in 2023 and is predicted to reach 15.67 billion by the year 2031 at a 6.90% CAGR during the forecast period for 2024-2031.

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Flexible endoscopes are slender and are inserted into the body to observe and examine the internal organs. It is a porous, pliable instrument that can be employed for medical diagnostic or surgical procedures. The market for flexible endoscopes is expected to expand consistently due to their use in therapeutic and diagnostic treatments.

The transition from 2D to 3D systems and the preference of end users for flexible video scopes in the coming years will facilitate the market's expansion. In recent years, the demand for flexible endoscopes has considerably increased due to the preference of patients and physicians for MI operations over other procedures. The market will also be expanded by supportive government programs, such as mandated colorectal cancer screening programs.

List of Prominent Players in the Flexible Endoscopes Market:
• Laborie Medical Technologies
• Machida Endoscope Co.
• Medtronic Plc (Covidien)
• Olympus Corporation
• Pentax Medical
• Ambu A/S
• Becton, Dickinson and Company
• Boston Scientific Corporation
• Cooper Surgical
• Endomed Systems
• Ethicon Endo-surgery; LLC.
• Fujifilm Corporation
• Hoya Corporation
• Karl Storz GmbH & Co. KG.
• Richard Wolf GmbH
• Smith & Nephew, Inc.
• Stryker Corporation

Market Dynamics:
Drivers-
The flexible endoscopes market is predominantly driven by the prevalence of a significant patient population with chronic diseases. The increase in the number of patients with a variety of chronic illnesses, particularly gastrointestinal disorders, is the primary factor driving the global market for flexible endoscopes. The market is expected to expand due to the prevalence of GERD, biliary disease, inflammatory bowel disease, and pancreatic, colorectal, and esophageal malignancies. The changes in lifestyle, such as an improper diet and physical inactivity, resulted in a variety of issues, including obesity, lipids, blood glucose, and elevated blood pressure.
The market for flexible endoscopes will also be driven by the geriatric population.

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Challenges:
The market development for flexible endoscopes is being restricted by the danger of alternative treatments. The availability of other endoscopes, such as rigid and capsule endoscopes, and advanced imaging technologies pose a threat to the future expansion of flexible endoscopes. The sector is further constrained by the strict regulatory requirements for flexible endoscopes. The absence of experienced professionals in developing nations, such as endoscopists, is another significant challenge that the market for flexible endoscopes encounters. The market is further restricted by the exorbitant cost of flexible endoscopes.

Regional Trends:
The North American flexible endoscopes market is anticipated to achieve a significant market share in terms of revenue and to expand at a compound annual growth rate (CAGR) in the near future due to the increasing prevalence of chronic conditions that necessitate their use, such as colorectal and stomach cancer and irritable bowel syndrome. According to research, irritable bowel syndrome is believed to affect 12% of the American population. In 2021, 16.5% of the population in the region will be 65 years of age or older, indicating a significant increase in the prevalence of chronic diseases among an aging population. This figure will rise to 20% by 2050, which will facilitate market expansion. Additionally, the Asia Pacific region possessed a substantial market share as a result of a variety of factors, such as an aging population, an increase in the prevalence of chronic diseases, and an increase in the demand for less invasive procedures.

Moreover, the increasing availability of advanced medical technologies, including flexible endoscopes, has been facilitated by the increase in government healthcare expenditure and disposable incomes.

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Recent Developments:
• In August 2021, The EXALT Model B Single-Use Bronchoscope from Boston Scientific has been approved by the FDA. The most recent development in flexible bronchoscopy is the single-use EXALT Model B bronchoscope. It was also developed for use in ICUs with the goal of preserving airway clarity during challenging respiratory procedures, such as the insertion of double-lumen tubes.
• In January 2021, Olympus Corporation acquired Quest Photonic Devices. The acquisition has resulted in an expansion of its operations within the surgical endoscopy sector. In addition, this strategic move bolstered Olympus Corporation's market position in the flexible endoscope sector by broadening its customer base.

Segmentation of Flexible Endoscopes Market-
By End-Use
• Hospitals
• Outpatient Facilities
By Type
• Laparoscopes
• Arthroscopes
• Ureteroscopes
• Cystoscopes
• Gynecology Endoscopes
• Neuroendoscopes
• Bronchoscopes
• Hysteroscopes
• Laryngoscopes
• Sinuscopes
• Otoscopes
• Sigmoidoscopes
• Pharyngoscopes
• Duodenoscope
• Nasopharyngoscopes
• Rhinoscopes
• Colonoscopes
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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