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Endoscopy Video Systems Market Size, Demand, Key Players And Forecast To 2033
Endoscopy Video Systems Market Size
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Market Drivers and Trends:
The growing rates of stomach and colorectal cancer are expected to propel the growth of the endoscopy video systems market in the coming future. Stomach (gastric) cancer is a kind of cancer that begins in the cells that line the stomach. Colorectal cancer refers to the cancer that originates in the rectum or the colon. Endoscopy video systems used in stomach and colorectal cancer can assist physicians in screening and diagnosing the cancer using an endoscope inserted into the gastrointestinal tract. For instance, in February 2023, according to the American Society of Clinical Oncology, a US-based organization representing oncologists, in the US it is estimated that 153,020 adults are expected to be diagnosed with colorectal cancer and 52,550 deaths are expected to occur in 2023. Further, in January 2022, according to the American Cancer Society, a US-based non-profit health group committed to cancer eradication, in 2023, over 26,500 new stomach cancer cases and 11,130 deaths are estimated to occur in the US. Therefore, the growing rates of stomach and colorectal cancer are driving the endoscopy video systems market.
Major companies operating in the endoscopy video system market are concentrating on developing innovative solutions, such as surgical visualization platforms, to provide reliable customer services and strengthen their market position. Surgical visualization platforms refer to a system with a camera, light source and display that provides surgeons with a clear and magnified view of the surgical site. For instance, in September 2022, Olympus Corporation, a Japan-based manufacturer of endoscopic video devices, launched VISERA ELITE III. VISERA ELITE III is a sophisticated surgical visualization platform that accommodates the demands of healthcare providers (HCPs) for endoscopic operations across numerous medical specialties. The VISERA ELITE III offers a wide range of imaging features, all supported by one system, enabling minimally invasive treatments like laparoscopic cholecystectomy and laparoscopic colectomy. The next stage of software upgrades will broaden surgical imaging capabilities and help specific setups that seamlessly support several surgical applications, resulting in lower investment costs.
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Major Key Players of the Market: Johnson & Johnson Ltd., Medtronic PLC, Siemens Healthineers AG, FUJIFILM Holdings Corporation., Stryker Corporation, Boston Scientific Corporation, Nisco Co Ltd., B. Braun Melsungen AG, Olympus Corporation, Intuitive Surgical Inc., Smith & Nephew PLC, Hologic Inc., Steris PLC, Mindray Medical International Ltd., Teleflex Incorporated, Arthrex Inc., Karl Storz SE & Co. KG, CONMED Corporation, Ambu A/S, Richard Wolf GmbH, SonoScape Medical Corp, PENTAX Medical, Verathon Inc., Perlong Medical Equipment Co.Ltd., XION GmbH, BR Surgical LLC, Luxtel LLC, CapsoVision Inc., Happersberger Otopront GmbH, ILO Electronic GmbH.
Endoscopy Video Systems Market 2024 Key Insights:
• The endoscopy video systems is expected to grow to $35.08 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%.
• Rising Incidence Of Stomach And Colorectal Cancer Fuels Growth In The Endoscopy Video Systems Market
• Rising Inflammatory Bowel Disease Cases Fuel Endoscopy Video Systems Market Growth
• North America was the largest region in the endoscopy video systems market in 2023
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