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Endoscopes Market Poised for Significant Growth at a 6.3% CAGR by 2033 | Persistence Market Research
Endoscopes Market
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Key Highlights from the Report
The global market for endoscopes is projected to expand at a CAGR of 6.3% from 2023 to 2033.
Reusable endoscopes hold the largest market share, with a valuation of US$ 12.1 billion in 2023.
Flexible endoscopes dominate the product segment, accounting for approximately 60.6% of total sales.
Hospitals are the leading end-user segment, with a market share of 62.2% in 2023.
North America leads the global market, with the U.S. holding a 91.6% share in the regional market.
Increasing cases of gastrointestinal diseases, cancer, and obesity are major market growth drivers.
Market Segmentation
The endoscopes market is segmented based on product type, application, and end-user.
1. Product Type
The market includes flexible endoscopes, rigid endoscopes, and capsule endoscopes. Among these, flexible endoscopes hold the largest market share due to their ease of use and preference in minimally invasive surgeries.
2. End-User
Hospitals are the dominant end-users of endoscopic devices, accounting for 62.2% of the total market share. The rising number of endoscopic procedures, combined with advancements in hospital infrastructure, is fueling this growth.
Regional Insights
North America remains the largest market for endoscopes, driven by high healthcare spending and the increasing prevalence of chronic diseases. The U.S. market alone holds a 91.6% share in the region.
In Europe, Germany is a key player, accounting for 26.4% of the regional market. The presence of major endoscope manufacturers and an aging population are significant growth factors.
Asia-Pacific, particularly China, is emerging as a lucrative market, holding 50.7% of the regional share in 2023. The increasing incidence of gastrointestinal diseases and a large patient pool are the main drivers in this region.
Market Drivers, Restraints, and Opportunities
Market Drivers
The growing geriatric population and increasing healthcare spending are key market drivers. The rising adoption of minimally invasive procedures due to their cost-effectiveness and shorter hospital stays also contributes to market expansion.
Market Restraints
The high cost of advanced endoscopic devices, especially robotic-assisted systems, remains a challenge. Additionally, stringent regulatory policies, such as the Medical Device Excise Tax (MDET) in the U.S., impose financial burdens on manufacturers.
Market Opportunities
The growing demand for disposable endoscopes to reduce the risk of infections presents a significant market opportunity. Moreover, increasing investments in healthcare infrastructure in emerging economies will further drive market expansion.
Reasons to Buy the Report
✔ Comprehensive Market Analysis: In-depth insights into market trends, segmentation, and growth drivers.
✔ Competitive Landscape Overview: Profiles of key industry players and recent market developments.
✔ Regional Market Trends: Detailed analysis of key geographic regions and emerging markets.
✔ Market Forecast and Projections: Reliable growth estimates and revenue forecasts until 2033.
✔ Investment Opportunities: Identification of lucrative investment areas and emerging trends.
Company Insights
Key Players
Olympus Corporation
Medtronic plc
Fujifilm Holdings Corporation
Karl Storz SE & Co. KG
Stryker Corporation
Boston Scientific Corporation
Hoya Corporation
Ambu A/S
Recent Developments
November 2021: Medtronic plc received 510(k) clearance from the FDA for its PillCam capsule endoscope for remote endoscopic treatments.
April 2021: Ambu Inc. secured Health Canada approval for its aScope 4 Cysto, an advanced flexible cystoscope platform.
The global endoscopes market is poised for steady growth, driven by technological advancements and increasing demand for minimally invasive procedures. With continuous innovations and favorable market dynamics, this sector presents ample growth opportunities for key industry players and investors.
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About Persistence Market Research:
At Persistence Market Research, we specialize in creating research studies that serve as strategic tools for driving business growth. Established as a proprietary firm in 2012, we have evolved into a registered company in England and Wales in 2023 under the name Persistence Research & Consultancy Services Ltd. With a solid foundation, we have completed over 3600 custom and syndicate market research projects, and delivered more than 2700 projects for other leading market research companies' clients.
Our approach combines traditional market research methods with modern tools to offer comprehensive research solutions. With a decade of experience, we pride ourselves on deriving actionable insights from data to help businesses stay ahead of the competition. Our client base spans multinational corporations, leading consulting firms, investment funds, and government departments. A significant portion of our sales comes from repeat clients, a testament to the value and trust we've built over the years.
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