Press release
Flexible Endoscopes Market to Witness Significant Growth with Advancements in Imaging Technology and Minimally Invasive Surgeries by 2031
Flexible Endoscopes Market
The global flexible endoscopes market is estimated to reach over 15.67 billion by the year 2031, exhibiting a CAGR of 6.90% during the forecast period.
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Flexible endoscopes are slender, adaptable instruments used to inspect and assess internal organs by being inserted into the body. These hollow, flexible devices are integral to both surgical and diagnostic medical procedures. Given their extensive application in therapeutic and diagnostic treatments, the flexible endoscope market is projected to experience steady growth.
In the foreseeable future, the rising preference for flexible video endoscopes and the shift from 2D to 3D imaging technologies are expected to drive the expansion of the market. Additionally, the increasing adoption of minimally invasive (MI) procedures by both patients and healthcare providers has significantly contributed to the heightened demand for flexible endoscopes in recent years. Moreover, government initiatives, such as mandatory colorectal cancer screening programs, are anticipated to further boost 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 endoscope market is primarily fueled by the rising prevalence of chronic diseases among a large patient demographic. The increasing incidence of gastrointestinal (GI) disorders, including gastroesophageal reflux disease (GERD), biliary diseases, inflammatory bowel disease, and cancers of the pancreas, colon, and esophagus, is expected to drive market expansion. Lifestyle factors such as poor dietary habits, sedentary behavior, and the subsequent development of health issues like hypertension, high blood glucose, elevated lipid levels, and obesity further contribute to the growing demand for flexible endoscopes. Additionally, the aging population, which is more prone to chronic conditions, is anticipated to further stimulate market growth.
Challenges:
The flexible endoscope market faces challenges from the availability of alternative diagnostic and therapeutic methods, including rigid endoscopes, capsule endoscopes, and advanced imaging technologies, which may limit the market's growth potential. Stringent regulatory requirements for the approval and manufacturing of flexible endoscopes present another hurdle. Furthermore, the shortage of skilled professionals, such as experienced endoscopists, particularly in developing regions, restricts the adoption of these devices. The high cost of flexible endoscopes also acts as a significant barrier to broader market penetration.
Regional Trends:
North America is expected to capture a substantial share of the flexible endoscope market in terms of revenue, with a strong compound annual growth rate (CAGR) projected in the coming years. This growth is driven by the rising prevalence 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 significant factor; as of 2021, 16.5% of the U.S. population was aged 65 or older, a figure projected to reach 20% by 2050, supporting further market growth. Meanwhile, the Asia Pacific region holds a considerable market share, driven by an aging population, an increase in chronic disease prevalence, and rising demand for minimally invasive procedures. Additionally, higher disposable incomes and increased government spending on healthcare have enhanced access to advanced medical technologies, including flexible endoscopes, further contributing to 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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About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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