Global Endoscopy Devices Market Report (2020-2026)

Segmentation by Product

The Rigid Endoscope market is currently dominated by Urology endoscopes followed by gynaecology and ENT endoscopes. This dominance can primarily be attributed to the rising demand for urology and gynaecology procedures globally. However, Arthroscopes are the fastest growing (2.40%) rigid endoscopes. The Rigid Endoscope market, by urology endoscopes is expected to reach $698.1 million in 2025, witnessing a CAGR of 0.80% during the forecast period. This growth can be attributed to the rising number of urology procedures. On the other hand, the rigid endoscopy market, by gynaecology endoscopes and ENT endoscopes is growing at a CAGR of 0.90% and 2.60% respectively. This growth is primarily due to increasing number of gynaecology procedures across the world.  

The growth can be accredited to rapidly increasing geriatric population, improvement in health services in emerging markets, and patient demand for undergoing minimally invasive surgical procedures. Capsule endoscopy is expected to witness highest CAGR of 10.00% in the forecast period 2020-2025. The growth can be attributed to the increasing demand for low cost alternatives to colonoscopy procedures. Currently available endoscopy solutions cost around $500 which is way far less than traditional colonoscopy procedures

The flexible endoscopes market is broadly classified into sever major types, consisting of gastrointestinal endoscopes, urology endoscopes, gynaecology endoscopes, bronchoscopes, laryngoscopes, pharyngoscopes and ENT endoscopes. Among the seven types of endoscopes, the gastrointestinal endoscope is the leading contributor of the global flexible endoscopes market, by type. It accounts for more than 50% of the total revenue generated in 2020, which is largely due to its high demand and increasing prevalence of gastrointestinal diseases globally. In terms of CARG, the fastest growing type of endoscope is ENT Endoscopes (4.1%). The flexible endoscopes market, by gastrointestinal endoscopes is anticipated to reach $1,450.3 million in 2025, growing at a CAGR of 2.60% during the forecast. The ENT endoscopes is expected to reach $269.4 million in 2025 witnessing the highest CAGR of 4.10%. The rising awareness of technological advances in the field of otorhinolaryngology and pulmonology is driving hospitals to purchase ENT endoscopes and hence driving the growth of the overall segment.

Segmentation by Geography

The global endoscopy devices market is expected to reach about $27.92 billion by the end of 2025 growing with a CAGR of 4.90% during the forecast period. The growth can be expected due to rising surgical need across the world owing too rapidly increasing ageing population as well as rising number of chronic diseases which needs surgical interventions. The stagnancy in the growth as compared to other surgical techniques is however due to lack of developments particularly in the laparoscopy and endoscopy segments and a slow rate of adoption in emerging markets due to high procedure costs as well as steep learning curve.

The North America Endoscopy Devices Market was estimated is expected to reach about $9.06 billion by the end of 2025 growing with a CAGR of 4.1% during the forecast period. The limited growth in the region is primarily due to the maturity that has been attained in terms of adoption of conventional techniques in the region. Surgeons have been performing laparoscopic techniques since last two decades and using the same in different medical applications such as gynaecology, urology, and general surgeries, among others.

North America is the leading region with the highest revenue generated from the Endoscopy Devices Market as of 2020. Almost 92% of the market is dominated by the U.S. market. The reason for this dominance is the rising number of endoscopic procedures performed in the nation. In 2017 alone, there were more than 3.4 million procedures performed across the U.S. with California, Texas and Florida being the states with highest number of procedures.

Porters Five Forces Analysis