The global endoscopy devices market size is expected to reach USD 58.1 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 7.4% during the forecast period. Growing preference for minimally invasive endoscopic procedures, increasing geriatric population, and increase in prevalence of target gynecological, urological, & gastrointestinal diseases are key factors contributing to market growth. Technological advancements in endoscopes and visualization systems are also positively impacting the market.
High demand for endoscopes, visualization systems in diagnostics, and therapeutics for various target diseases plays a vital role in increasing revenue. Growing preference for minimally invasive surgical alternatives, such as laparoscopy, hysteroscopy, and colonoscopy, to open surgeries is reinforcing demand for endoscopic devices. The shift toward minimally invasive procedures can attributed to the associated benefits, such as better patient satisfaction, economic viability, relatively shorter hospital stays, and reduced postsurgical complications. Growth of the market can also be attributed to increasing preference for HD visualization systems by healthcare professionals, due to their better imaging capabilities. They help in diagnosis and treatment of complex diseases, such as cancer, GI disorders, lung disorders, and urinary disorders and are minimally invasive.
Availability of technologically advanced devices, such as HD visualization systems, robot-assisted endoscopes, disposable endoscopes, and HD resolution camera heads is also driving the market. Market players such as Stryker Corporation, Olympus Corporation, and Ethicon Endo-Surgery, LLC are investing on R&D to improve existing products along with launch of new products, which is expected to drive the endoscopy devices market further. For instance, in 2016, Olympus launched the VISERA 4K UHD surgical system equipped with a 55-inch primary operative HD display, to enhance minimally invasive surgical procedures. It also launched a 3D surgical endoscope in June 2017, which was compatible with the VISERA ELITE II HD imaging system. In March 2018, Auris Health, Inc. received FDA approval for the Monarch Platform—a new robotic endoscopic system. This platform uses 3D imaging to facilitate depth perception, thereby enabling high precision in surgeries.
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Grand View Research has segmented the endoscopy devices market on the basis of product, applications, and end use:
Endoscopy Devices Product Outlook (Revenue, USD Million, 2014 – 2025)
Endoscopy Devices Application Outlook (Revenue, USD Million, 2014 – 2025)
Endoscopy Devices End-use Outlook (Revenue, USD Million, 2014 – 2025)
Endoscopy Devices Regional Outlook (Revenue, USD Million, 2014 – 2025)
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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