Press release
United States Endoscopy Devices Market Projected to Reach USD 16.60 Billion by 2029 Amidst Technological Advancements and Rising Chronic Disease Prevalence
The US Endoscopy Devices Market is projected to be valued at USD 12.17 billion in 2024 and is anticipated to grow to USD 16.60 billion by 2029, registering a Compound Annual Growth Rate (CAGR) of 6.39% during the forecast period (2024-2029). Key factors driving market growth include the growing preference for minimally invasive surgeries and the increasing utilization of endoscopy for both diagnosis and treatment.
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Key Trends Driving the US Endoscopy Devices Market
Technological Advancements in Endoscopic Procedures
The endoscopy sector is experiencing rapid technological progress, leading to the development of advanced devices that offer higher resolution, improved flexibility, and enhanced patient safety. Innovations such as high-definition imaging, narrow-band imaging, and capsule endoscopy are revolutionizing diagnostic and therapeutic procedures, enabling more accurate and timely interventions.
Rising Prevalence of Chronic Diseases
The United States is witnessing a surge in chronic diseases such as gastrointestinal disorders, colorectal cancer, and obesity-related conditions. According to the American Cancer Society, an estimated 106,970 new cases of colon cancer and 46,050 new cases of rectal cancer are expected in 2023. This escalating burden necessitates the use of endoscopic devices for effective diagnosis, treatment, and management, thereby propelling market growth.
Increasing Demand for Minimally Invasive Surgeries
There is a growing preference for minimally invasive surgical procedures due to benefits such as reduced postoperative pain, shorter hospital stays, and quicker recovery times. Endoscopic techniques align with this trend, offering less invasive options for diagnosing and treating various conditions, which in turn drives the demand for endoscopy devices.
Market Segmentation
The United States endoscopy devices market is segmented based on device type, application, and end-user:
By Device Type:
Endoscopes: Instruments used to visualize internal organs and structures.
Endoscopic Operative Devices: Tools utilized during endoscopic procedures for therapeutic interventions.
Visualization Equipment: Systems that provide imaging and visualization support during endoscopic procedures.
By Application:
Gastroenterology: Diagnosis and treatment of digestive system disorders.
Pulmonology: Assessment and management of respiratory system conditions.
ENT Surgery: Procedures related to ear, nose, and throat disorders.
Gynecology: Examination and treatment of female reproductive system issues.
Neurology: Evaluation of neurological conditions.
Urology: Diagnosis and treatment of urinary tract and male reproductive system disorders.
Other Applications: Includes orthopedics, cardiology, and other specialties.
By End-User:
Hospitals: Primary centers for endoscopic procedures, offering a wide range of services.
Ambulatory Surgical Centers: Outpatient facilities specializing in surgical procedures, including endoscopy.
Other End-Users: Includes clinics, diagnostic centers, and research institutes utilizing endoscopic devices.
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Key Players
The United States endoscopy devices market features several prominent companies contributing to its development:
Boston Scientific Corporation
Medtronic PLC
Cook Medical
Olympus Corporation
Johnson & Johnson
These companies are at the forefront of technological advancements, investing in research and development to introduce innovative solutions that meet the evolving demands of the endoscopy devices market.
Industry Related Reports
Surgical Imaging Market:
Conclusion
The United States endoscopy devices market is on a robust growth trajectory, driven by technological advancements, a rising prevalence of chronic diseases, and an increasing demand for minimally invasive procedures. The impact of the COVID-19 pandemic has underscored the importance of adaptable and resilient healthcare systems, further highlighting the role of endoscopic technologies in modern medicine. As the healthcare landscape continues to evolve, the endoscopy devices market is expected to expand, offering opportunities for manufacturers and healthcare providers to meet the diverse needs of patients across the nation.
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About Mordor Intelligence:
Mordor Intelligence is a trusted partner for businesses seeking comprehensive and actionable market intelligence. Our global reach, expert team, and tailored solutions empower organizations and individuals to make informed decisions, navigate complex markets, and achieve their strategic goals.
With a team of over 550 domain experts and on-ground specialists spanning 150+ countries, Mordor Intelligence possesses a unique understanding of the global business landscape. This expertise translates into comprehensive syndicated and custom research reports covering a wide spectrum of industries, including aerospace & defense, agriculture, animal nutrition and wellness, automation, automotive, chemicals & materials, consumer goods & services, electronics, energy & power, financial services, food & beverages, healthcare, hospitality & tourism, information & communications technology, investment opportunities, and logistics.
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