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Flexible Endoscopes Market Size - By Offering (Ureterscopes, Neuroendoscope, Cystoscopes, colonoscopes, Bronchoscopes, Otoscopes, Sigmoidoscopes, Pharyngoscopes, Others), By End Use (Hospitals, Outpatient Facilities) and By Region: Global & Forecast, 2024-2033

  • PUBLISHED ON
  • 2023-12-06
  • NO OF PAGES
  • 180
  • CATEGORY
  • Healthcare & Life Sciences

Market Overview

Flexible Endoscopes Market Size is projected to achieve a value of USD 11.2 Billion in 2023, with a linear behavior in the market growth it is forecasted to achieve a value of USD 18.1 Billion by 2033 with a CAGR of 6.5% during the forecast period 2024-2033.

Medical instruments known as flexible endoscopes, which can see within bodily cavities including the digestive tract, bladder, or lungs, are fitted with a bendable tube, a light, and a camera. With their assistance, doctors can do minimally invasive tests and operations, which eliminates the need for major surgery and enables doctors to identify problems, collect samples, and carry out interventions. Because of their flexibility, detailed images are provided for precise medical assessments and treatments, allowing navigation through intricate anatomical systems.



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The market for flexible endoscopes is largely driven by technical developments that improve image quality and maneuverability and enable less invasive operations in pulmonology, urology, and gastroenterology. The need for these devices is driven by an increase in the prevalence of cancer and gastrointestinal illnesses. Furthermore, there is a notable contribution from the growing inclination towards outpatient procedures and the transition to preventative healthcare. The market for flexible endoscopes is expanding due to factors such as patient preference for less invasive diagnostic and therapeutic options and the cost-effectiveness of healthcare.

Market Scope

Report Attributes

Description

Market Size in 2023

USD 11.02 Billion

Market Forecast in 2033

USD 18.1 Billion

CAGR % 2024-2033

6.5%

Base Year

2023

Historic Data

2016-2022

Forecast Period

2024-2033

Report USP

Production, Consumption, company share, company heatmap, company production capacity, growth factors and more

Segments Covered

By Offering, By End Use and By Region

Regional Scope

North America, Europe, APAC, South America and Middle East and Africa

Country Scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria

 

Flexible Endoscopes Industry:  Dynamics & Restrains

Market Drivers

Rising Prevalence of Chronic Diseases - Flexible endoscope market expansion has been mostly driven by the rising prevalence of chronic diseases such as colorectal cancer, digestive system anomalies, and gastrointestinal disorders. These conditions drive the need for minimally invasive procedures, where flexible endoscopes are essential for early identification and accurate diagnosis. Their increased popularity has been largely attributed to their capacity to negotiate complex anatomical systems with minimal discomfort and risk to patients, while also permitting real-time viewing and tissue harvesting. Furthermore, the development of endoscopic equipment through technology has improved their functionality, flexibility, and image quality, which has increased their usefulness in the diagnosis and treatment of a range of chronic illnesses. The market for flexible endoscopes is growing as a result of healthcare professionals' increasing emphasis on patient-friendly interventions and effective diagnostic tools. This growth is driven by the growing need to diagnose and manage chronic diseases.

Technological Advancements - Technological developments are driving the market for flexible endoscopes, as they are redefining procedural precision and diagnostic capabilities. Accuracy and visualization during exams are improved by innovations including downsizing, high-definition imaging, and augmented reality integration. Additionally, the development of robots, artificial intelligence, and disposable components helps to improve the accuracy and efficiency of procedures. Healthcare professionals seeking better patient outcomes in a quickly changing medical environment are adopting flexible endoscopes at a higher rate as a result of these improvements, which lessen patient discomfort, facilitate faster recovery periods, and increase diagnostic yield.

Market Restrains

The shortage of trained endoscopists - The market for flexible endoscopes is limited by a lack of skilled endoscopists, which is affecting the market's growth trajectory. The complexity of endoscopic treatments necessitates specialist knowledge, and one major obstacle is the lack of appropriately qualified medical personnel. Insufficient knowledge may prevent flexible endoscopes from being widely used, which would delay the incorporation of these instruments into medical procedures. In order to address this deficit, healthcare personnel must be empowered through focused training programs and educational activities, resulting in a skilled workforce that can optimize the potential advantages of flexible endoscopic technologies. To fully achieve its promise in expanding therapeutic and diagnostic solutions for a range of medical problems, the market must overcome this barrier.

Flexible Endoscopes Segmentation

Market- By Offering Analysis

By Offering, the Flexible Endoscopes Market is Categories into Ureterscopes, Neuroendoscope, Cystoscopes, colonoscopes, Bronchoscopes, Otoscopes, Sigmoidoscopes, Pharyngoscopes, Others. The colonoscopes segment accounts for the largest share of around 30% in 2022.

The rising incidence of gastrointestinal diseases including colorectal cancer, which is driving up demand for colonoscopes as a diagnostic and prophylactic instrument. Additionally, the efficiency and safety of colonoscopy procedures have been enhanced by technical developments in equipment, leading to increased accessibility and acceptance of the treatment.

Market By End Use Analysis

By End Use, the Flexible Endoscopes Market is Categories into Hospitals, Outpatient Facilities. The Outpatient Facilities segment accounts for the largest share of around 56% in 2022.


This high percentage can be attributed to the widespread use of endoscopes in outpatient settings, as well as to advantageous reimbursement practices. The category is anticipated to develop at the quickest rate during the projection period because to the rise in outpatient facilities brought about by the growing demand for convenient and affordable healthcare services. For many patients, these facilities offer medical care at a lower cost because they do not require overnight hospital stays.

Market Regional Analysis

North America dominate the Flexible Endoscopes Market with the highest revenue generating market with share of more than 44%. The strong adoption of minimally invasive procedures, the well-developed healthcare infrastructure, and the high frequency of chronic diseases are some of the reasons behind this. The largest market in North America is the United States.


Europe is the second-largest market for skincare goods. The aging population, the increased incidence of chronic illnesses, and the rising need for less invasive procedures are some of the causes of this. Europe's biggest markets are in Germany, followed by the UK and France.

The Asia Pacific market is anticipated to grow at the quickest rate during the predicted period. This is caused by several things, such as the increased use of sophisticated endoscopes, the growing demand for minimally invasive operations, and the increasing prevalence of chronic conditions. Asia Pacific's biggest market is China, which is followed by Japan and India.

Competitive Analysis

The Flexible Endoscopes Market is dominated by a few large companies, such as Hoya Corporation, Stryker Corporation, Richard Wolf GmbH, Fujifilm Holdings Corporation, Medtronic plc, Karl Storz SE & Co. KG, Smith & Nephew plc, B. Braun Melsungen AG, Boston Scientific Corporation, EndoChoice Holdings, Inc., CONMED Corporation, Arthrex, Inc. and other.

There are some of the key trends that are shaping the competitive landscape of the Flexible Endoscopes Market.

·         In 2021, Boston Scientific's EXALTTM Model B Single-Use Bronchoscope has been granted FDA 510(k) approval. This device provides a disposable and effective solution for bronchoscopy procedures in critical care settings. It is specifically intended for bedside procedures in the intensive care unit (ICU) and operating room (OR).

·         In 2021, Quest Photonic Devices B.V. was acquired by Olympus, a strategic move intended to improve the company's surgical endoscopic capabilities. Through this acquisition, Olympus hopes to improve its standing in the field of minimally invasive surgical techniques.

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Market Research Process




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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

Frequently Asked Questions

What is the market size of Flexible Endoscopes Market in 2022?

Flexible Endoscopes Market was valued at USD 10.13 Billion in 2022.

What is the growth rate for the Flexible Endoscopes Market?

Flexible Endoscopes Market size will increase at approximate CAGR of 6.5% during the forecasted period.

Which are the top companies operating within the market?

Major companies operating within the Flexible Endoscopes Market are Hoya Corporation, Stryker Corporation, Richard Wolf GmbH, Fujifilm Holdings Corporation, Medtronic plc, Karl Storz SE & Co. KG, Smith & Nephew plc, B. Braun Melsungen AG, Boston Scientific Corporation, EndoChoice Holdings, Inc., CONMED Corporation, Arthrex, Inc. and other.

Which region dominates the Flexible Endoscopes Market?

North America dominates the market with an active share of 44%.

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