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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Conclusion
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Flexible Endoscopes Market was valued at USD 10.13 Billion in 2022.
Flexible Endoscopes Market size will increase at approximate CAGR of 6.5% during the forecasted period.
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.
North America dominates the market with an active share of 44%.
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