Endoscopy Devices Market Expected to Reach $44.1 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Endoscopy Devices Market," The endoscopy devices market size was valued at $28.1 billion in 2022, and is estimated to reach $44.1 billion by 2032, growing at a CAGR of 4.6% from 2023 to 2032. 

The rise in the prevalence of diseases that require endoscopy procedures is a significant endoscopy devices market trends for the growth of the market. Conditions such as gastrointestinal disorders, gastrointestinal cancers, respiratory diseases, urological disorders, and gynecological conditions often necessitate the use of endoscopy for accurate diagnosis and treatment. Moreover, changes in lifestyle patterns, such as unhealthy dietary habits, sedentary lifestyles, and increased stress levels contribute toward growth during the endoscopy devices market forecast. 

As the incidence of chronic diseases continues to rise globally, the demand for endoscopy devices grows proportionally which further drives growth during the endoscopy devices market analysis. In addition, the rise in the geriatric population is another key driver for the growth of the endoscopy equipment market.  

On the basis of product, the endoscopy devices market is divided into the endoscope, visualization & documentation systems, mechanical endoscopy equipment, accessories, and others. The endoscope segment held the largest endoscopy devices market share in terms of revenue in 2022 and is expected to maintain the highest CAGRs during the forecast period. This is attributed to an increase in chronic diseases, a rise in the aging population, and a surge in the adoption of technologically advanced medical devices. 

By hygiene, the endoscopy devices market is divided into single-use, reprocessing, and sterilization. The reprocessing segment held the largest endoscopy devices market share in terms of revenue in 2022 and is expected to maintain its dominance during the forecast period, owing to the rise in the importance of infection control and prevention measures and the rise in the demand for sustainable healthcare practices. 

However, the single-use segment is projected to exhibit the highest CAGR in the endoscopy devices market during the forecast period, owing to increasing emphasis on infection control and the convenience of disposable devices, eliminating the need for reprocessing and reducing the risk of cross-contamination. On the basis of application, the endoscopy devices market is classified into bronchoscopy, arthroscopy, laparoscopy, urology endoscopy, neuroendoscopy, gastrointestinal endoscopy, gynecology endoscopy, ENT endoscopy, and others.

The gastrointestinal endoscopy segment held the largest share in the endoscopy devices market size in terms of revenue in 2022 and expected to maintain its dominance during the forecast period, owing to high prevalence of gastrointestinal disorders, advancements in endoscopic technologies, and the increasing recognition of the benefits of early detection and treatment in gastrointestinal diseases.

However, the laparoscopy segment is projected to exhibit the highest CAGR in the endoscopy devices market during the forecast period. This is attributed to rise in use of laparoscopy devices routinely in diagnosis as well as in therapeutic procedures of various diseases such as prostatectomy, pancreatic cancer, and gastrointestinal disorders. In addition, rise in cases of morbid obesity at the global level is a major factor that drives the segment growth. Moreover, rise in bariatric surgeries performed globally to reduce weight contributes to the segment growth. 

North America held the highest market share in terms of revenue in 2022 and is expected to maintain its dominance during the forecast period. Several factors contribute to this market including a rise in the incidence of chronic diseases that require endoscopic procedures. In addition, the presence of key market players and their offerings strengthens the market position. These companies actively engage in R&D, ensuring the availability of innovative and effective endoscopy devices in the market. 

However, the Asia-Pacific region is projected to exhibit the highest CAGR in the endoscopy equipment market during the forecast period. This growth can be attributed to several factors, such as a surge in the adoption of advanced technologies and an increase in the geriatric population. Also, the high prevalence of chronic diseases remains a significant driver for the rise in demand for endoscopy devices for effective diagnosis and treatment.

Key Findings of the Study 
• By product, the endoscope segment held the largest endoscopy devices industry share in terms of revenue in 2022 and is expected to maintain the highest CAGRs during the forecast period. 
• By hygiene, the reprocessing segment held the largest market share in terms of revenue in 2022 and is expected to maintain its dominance during the forecast period. 
• By application, the gastrointestinal endoscopy segment held the largest endoscopy devices industry share in terms of revenue in 2022 and is expected to maintain its dominance during the forecast period.
• By end user, By end user, the hospital segment held the largest market share in terms of revenue in 2022 and is expected to maintain its dominance during the forecast period.
• Region-wise, North America generated the largest revenue in 2022. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.