Endoscopy Devices And Equipment Global Market Report 2023: Sector to Reach $72.8 Billion by 2032 at a 6.7% CAGR

Dublin, June 09, 2023 (GLOBE NEWSWIRE) -- The "Endoscopy Devices And Equipment Global Market Opportunities And Strategies To 2032" report has been added to ResearchAndMarkets.com's offering.

This report describes and explains the endoscopy devices and equipment market and covers 2017-2022, termed the historic period, and 2022-2027 termed the forecast period, along with further forecasts for the period 2027-2032. The report evaluates the market across each region and for the major economies within each region.

The global endoscopy devices and equipment market reached a value of nearly $37,585.5 million in 2022, having increased at a compound annual growth rate (CAGR) of 4.3% since 2017. The market is expected to grow from $37,585.5 million in 2022 to $52,630.7 million in 2027 at a rate of 7.0%. The market is then expected to grow at a CAGR of 6.7% from 2027 and reach $72,826.1 million in 2032.

Growth in the historic period resulted from an increasing prevalence of gastrointestinal diseases, an increasing acceptance of endoscopic procedures, an increased healthcare expenditure and growth in medical tourism. Factors that negatively affected growth in the historic period were challenges due to regulatory changes, an insufficient public health insurance coverage and the COVID-19 pandemic.

Going forward, the rising aging population, increasing incidence of chronic diseases, growing prevalence of obesity and new regulatory approvals will drive the market. Factors that could hinder the growth of the endoscopy devices and equipment market in the future include a lack of skilled professionals, high cost of endoscopy and alternative diagnostic and therapeutic procedures.

The endoscopy devices and equipment market is segmented by product into endoscope, endoscopy operative devices and endoscopy visualization systems. The endoscope market was the largest segment of the endoscopy devices and equipment market by product, accounting for $16,893.1 million or 44.9% of the total market in 2022. The endoscope market is expected to be the fastest-growing segment going forward at a CAGR of 7.1%.

The endoscopy devices and equipment market is segmented by application into bronchoscopy, arthroscopy, laparoscopy, urology endoscopy, neuroendoscopy, gastrointestinal endoscopy, obstetrics/gynecology endoscopy, ENT endoscopy and other applications. The gastrointestinal endoscopy market was the largest segment of the endoscopy devices and equipment market by application, accounting for $8,974.7 million or 23.9% of the total market in 2022. The laparoscopy market is expected to be the fastest-growing segment going forward at a CAGR of 7.3%.

The endoscopy devices and equipment market is segmented by end-user into hospitals, clinics and other end-user. The hospitals market was the largest segment of the endoscopy devices and equipment market by end-users, accounting for $20,589.7 million or 54.8% of the total market in 2022. The hospitals market is expected to be the fastest-growing segment going forward at a CAGR of 7.1%.

North America was the largest region in the endoscopy devices and equipment market, accounting for 38.5% of the global market in 2022. It was followed by Asia Pacific, Western Europe and the other regions. Going forward, the fastest growing regions in the endoscopy devices and equipment market will be Asia Pacific and North America, where growth will be at CAGRs of 7.6% and 7.2% respectively from 2022-2027.

The global endoscopy devices and equipment market is fragmented, with a large number of small players. The top ten competitors in the market made up to 18.56% of the total market in 2021. This can be due to the existence of a number of local players in the market serving customers in particular geographies. Olympus Corporation was the largest competitor with 5.36% share of the market, followed by Boston Scientific Corporation with 3.05%, Stryker Corporation with 2.75%, Fujifilm with 2.48%, Karl Storz SE & Co. KG with 2.28%, Johnson & Johnson with 1.16%, Hoya Corporation with 0.56%, Cook Medical with 0.46%, Smith & Nephew with 0.29%, and Conmed Corporation with 0.16%.

The top opportunities in the endoscopy devices and equipment market by product will arise in the endoscope market, which will gain $6,915.2 million of global annual sales by 2027. The top opportunities in the endoscopy devices and equipment market by application will arise in the gastrointestinal endoscopy market, which will gain $3,664.0 million of global annual sales by 2027. The top opportunities in the endoscopy devices and equipment market by end-user will arise in the hospitals market, which will gain $8,411.0 million of global annual sales by 2027. The endoscopy devices and equipment market size will gain the most in the USA at $5,184.4 million.

Market-trend-based strategies for the endoscopy devices and equipment market include use of artificial intelligence (AI) and machine learning, use of single-use endoscope, enhanced visualization technology, innovations in endoscope disinfection technology, 3D imaging technology, advanced robotics technology, wireless endoscopes, dual-channel endoscopes, real-time endoscope visualization systems, wireless capsule endoscopy, improved data management systems and miniaturization of endoscopes.

Player-adopted strategies in the endoscopy devices and equipment industry include enhancing the quality of endoscopic surgery through the launch of new products, providing high-quality imaging and visualization devices through securing regulatory approvals, expanding business capabilities through strategic acquisitions, enhancing business opportunities through the launch of new products and expanding product portfolio through new product launches.

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The report covers the following chapters

• Introduction and Market Characteristics

Brief introduction to the segmentations covered in the market, definitions and explanations about the endoscopy devices and equipment market.

• Key Trends

Highlights the major trends shaping the global endoscopy devices and equipment market. This section also highlights likely future developments in the market.

• Global Market Size and Growth

Global historic (2017-2022) and forecast (2022-2027), and (2027-2032) market values, and drivers and restraints that support and control the growth of the market in the historic and forecast periods.

• Regional Analysis

Historic (2017-2022) and forecast (2022-2027), and (2027-2032) market values and growth and market share comparison by region.

• Market Segmentation

Contains the market values (2017-2032) and analysis for each segment by product, by application and by end-user in the market.

• Regional Market Size and Growth

Regional market size (2022), historic (2017-2022) and forecast (2022-2027), and (2027-2032) market values, and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.

• Competitive Landscape

Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.

• Key Mergers and Acquisitions

Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.

• Market Opportunities And Strategies

This section includes market opportunities and strategies based on findings of the research. This section also gives information on growth opportunities across countries, segments and strategies to be followed in those markets. It gives an understanding of where there is significant business to be gained by competitors in the next five years.

• Conclusions And Recommendations

This section includes conclusions and recommendations based on findings of the research. This section also gives recommendations for endoscopy devices and equipment providers in terms of product/service offerings, geographic expansion, marketing strategies and target group.

• Appendix

This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.

Key Attributes:

A selection of companies mentioned in this report includes

• Olympus Corporation
• Boston Scientific Corporation
• Stryker Corporation
• Fujifilm
• Karl Storz SE & Co. KG.

For more information about this report visit https://www.researchandmarkets.com/r/xfwi52

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• Global Endoscopy Devices And Equipment Market