Flexible Endoscopes Market to Reach USD 15.52 Billion by 2031 with Key Insights into Market Segmentation and Growth Drivers

InsightAce Analytic Pvt. Ltd. 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 is estimated to reach over USD 15.52 billion by 2031, exhibiting a CAGR of 6.86% during the forecast period.

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Flexible endoscopes are slender, flexible instruments inserted into the body to examine and evaluate internal organs. These hollow, pliable devices are utilized in both surgical and diagnostic medical procedures. Given their wide application in therapeutic and diagnostic treatments, the market for flexible endoscopes is expected to experience consistent growth.

In the coming years, the increasing preference among end users for flexible video endoscopes and the transition from 2D to 3D imaging systems are anticipated to drive market expansion. The growing adoption of minimally invasive (MI) procedures by both patients and healthcare providers has significantly increased the demand for flexible endoscopes in recent years. Furthermore, supportive government initiatives, such as mandatory colorectal cancer screening programs, are expected to further stimulate market growth.

List of Prominent Players in the Flexible Endoscopes Market:
• 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.
• Laborie Medical Technologies
• Machida Endoscope Co.
• Medtronic Plc (Covidien)
• Olympus Corporation
• Pentax Medical
• Richard Wolf GmbH
• Smith & Nephew, Inc.
• Stryker Corporation

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Market Dynamics
Drivers:
The growth of the flexible endoscopes market is primarily driven by the increasing prevalence of chronic diseases among a large patient population. The rising incidence of gastrointestinal (GI) disorders, including gastroesophageal reflux disease (GERD), biliary disease, inflammatory bowel disease, and cancers of the pancreas, colon, and esophagus, is expected to propel market expansion. Lifestyle changes, such as poor dietary habits, physical inactivity, and resulting health issues like hypertension, high blood glucose, elevated lipid levels, and obesity, have also contributed to the growing demand for flexible endoscopes. Additionally, the increasing aging population, which is more susceptible to chronic diseases, is expected to further drive market growth.

Challenges:
The market for flexible endoscopes faces challenges from the availability of alternative diagnostic and therapeutic methods, including rigid and capsule endoscopes and advanced imaging technologies, which may limit future market expansion. Moreover, stringent regulatory requirements for flexible endoscopes pose an additional challenge. The shortage of skilled professionals, such as experienced endoscopists, in developing markets further constrains growth. The high cost of flexible endoscopes also acts as a barrier to market adoption.

Regional Trends:
North America is expected to account for a significant share of the flexible endoscopes market in terms of revenue and is projected to grow at a strong compound annual growth rate (CAGR) in the coming years. This growth is driven by the increasing incidence of chronic diseases, such as irritable bowel syndrome (affecting approximately 12% of the U.S. population) and colorectal and stomach cancers. The aging population is also a key driver; in 2021, 16.5% of the U.S. population was aged 65 or older, a figure expected to reach 20% by 2050, thereby supporting market expansion. Additionally, the Asia Pacific region holds a substantial market share due to factors such as a growing elderly population, rising chronic disease prevalence, and increasing demand for minimally invasive procedures. Higher disposable incomes and increased government healthcare spending have also improved access to advanced medical technologies, including flexible endoscopes, further boosting market growth.

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Recent Developments:
• In August 2021, the EXALT Model B Single-Use Bronchoscope from Boston Scientific has FDA approval. The single-use EXALT Model B bronchoscope is the most recent advancement in flexible bronchoscopy. It was also designed for use in ICUs and is intended to help maintain airway clarity during difficult breathing operations like the insertion of double-lumen tubes.
• In January 2021, Quest Photonic Devices was purchased by Olympus Corporation. Its business in the surgical endoscopy industry has expanded due to the purchase. Furthermore, this tactical maneuver expanded Olympus Corporation's customer base, strengthening its dominance in the flexible endoscope industry.

Segmentation of Flexible Endoscopes Market-
By Type
• Laparoscopes
• Arthroscopes
• Ureteroscopes
• Cystoscopes
• Gynecology Endoscopes
• Neuroendoscopes
• Bronchoscopes
• Hysteroscopes
• Laryngoscopes
• Sinuscopes
• Otoscopes
• Sigmoidoscopes
• Pharyngoscopes
• Duodenoscope
• Nasopharyngoscopes
• Rhinoscopes
• Colonoscopes
By End-Use
• Hospitals
• Outpatient Facilities
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
• South East 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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This release was published on openPR.