Endoscopy Operative Devices Market to Exhibit 6.3% CAGR Amid Rising Sales of Gastrointestinal (GI) Endoscopy

Preference for Endoscopic Bariatric Surgeries to Boost Endoscopy Operative Devices Sales by US$ 16.2 Bn by 2032

Fact.MR's latest report on global endoscopy operative devices market provides a detailed analysis on the key trends fueling the growth over the upcoming decade. It also highlights the key factors promoting the demand for endoscopy operative devices in the market through various segments including product type, application, and regions.

NEW YORK, April 6, 2022 /PRNewswire/ -- The overall sales of endoscopy operative devices is estimated to reach a valuation of US$ 16.2 Bn by 2032, growing at a CAGR of 5.8% during the forecast period (2022-2032).

Growing prevalence of obesity across the U.S., the U.K., and China will propel the demand for endoscopic bariatric surgeries. Another factor driving the sales in the market include rising demand for advanced and superior visualization systems in healthcare sector.

Apart from this, these devices are increasingly being used in surgical procedures such as colonoscopy and laryngoscopy for the diagnosis of colorectal, lung, and breast cancers. This is likely to fuel the sales of endoscopy operative devices.

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With growing incidence of chronic diseases such as cancer, demand for biopsies to detect and diagnose the disease at early stage is burgeoning. Driven by this, the sales of endoscopy operative devices are expected to surge.

Similarly, preference for minimally invasive and advanced endoscopic operating devices due to less post-operative complications will create bankable growth prospects in the market.

Besides this, digestive problems among the all demographic population is increasing due to unhealthy eating habits. This is driving the need for gastrointestinal procedures and advanced therapeutics, thereby, propelling demand for endoscopy operative devices.

Key Takeaways:

• Based on application, the gastrointestinal (GI) endoscopy segment is expected to exhibit growth at 6.3% CAGR through 2032.
• In terms of product type, access devices segment grew at a CAGR of 5.2% during the historic period (2017-21) and the trend is likely to continue through 2022 & beyond.
• North America is the expected to dominate the market, creating an absolute $ opportunity of US$ 2.7 Bn in 2022.
• Endoscopy operative devices sales are projected to increase by 1.8X , reaching nearly US$ 16.2 Bn by 2032.
• Asia Pacific is anticipated to exhibit fastest growth rate owing to the increasing prevalence of chronic diseases such as cancer across India and China.

Growth Drivers:

• Prevalence of gastrointestinal disorders across the U.S., China, and India is estimated to create lucrative opportunities for the market.
• Growing demand for endoscopy operative devices in the cancer centers, hospitals, oncology specialty clinics, and other healthcare facilities will increase the sales in the market.

Restraints:

• Lack of skilled professionals in Brazil, Indonesia and other underdeveloped regions might hinder the market growth.
• High cost of the endoscopy operative devices and related procedures is likely to limit sales in the market.

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Competitive Landscape:

Leading players operating in global endoscopy operative devices market are incorporating advanced technologies such as automated software and hardware to gain a competitive edge.  They are also forming alliances through novel agreements with other key companies to expand their customer base.

For instance,

• In June 2019, Karl Storz, a subsidiary of Medtronic collaborated with the parent company in an attempt to incorporate 3D vision technology of Karl Storz into Medtronic's robotic surgical platform.
• In March 2019, Olympus Corporation introduced PowerSpiral, which uses motorized parts to diagnose and treat gastrointestinal conditions. This device gently comes in contact with the gastrointestinal mucosa before performing the endoscope of the small intestine.

Key Companies Profiled by Fact.MR

• Olympus
• Medtronic
• Cook Medical Inc.
• Karl Storz
• Boston Scientific Corporation
• Stryker
• Ethicon Endo-Surgery, Inc.
• Richard Wolf GmbH
• CONMED Corporation
• Fujifilm Holdings Corporation

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Fact.MR, in its latest study, provides unbiased analysis on the endoscopy operative devices market. It also provides insights into the key drivers, latest trends, and opportunities anticipated to trigger the growth of the endoscopy operative devices market through detailed segmentation as follows:

By Product Type:

• Energy Systems
• Access Devices
• Suction & Irrigation Systems 
• Hand Instruments
• Wound Retractors
• Snares

By Application:

• Gastrointestinal (GI) Endoscopy
• Laparoscopy
• Obstetrics/Gynecology Endoscopy
• Arthroscopy
• Urology Endoscopy (Cystoscopy)
• Bronchoscopy
• Mediastinoscopy
• Otoscopy
• Laryngoscopy
• Other Applications

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• Middle East & Africa

Key Questions Covered in the Endoscopy Operative Devices Market Report

• At what rate will the global endoscopy operative devices market grow until 2032?
• What is the forecast market size of endoscopy operative devices market in 2022?
• Which are the factors limiting the sales of endoscopy operative devices?
• Which are the factors bolstering the growth in the global endoscopy operative devices market?
• Who are the dominating players profiled in the global endoscopy operative devices market?

Explore Fact.MR's Coverage on the Healthcare Domain

Endoscopy Devices Market: The overall sales of endoscopy devices are expected to increase owing to the rising prevalence of age-related ailments such as gastrointestinal disorders, cancers, and hearing loss. In addition to this, growing preference for minimally invasive surgeries over standard surgeries is anticipated to surge the sales in the market.

Endoscopy Ultrasound Market: Growing demand for early diagnosis and treatment of gastrointestinal disorders and cancers will propel the demand for endoscopy ultrasound market. Also, increasing use of endoscopy ultrasound in the hospitals and other healthcare facilities is likely to bolster the growth in the market.

Disposable Endoscopes Market: Demand for disposable endoscopes is projected to rise on the back of growing incidence of hospital-acquired infections (HAIs) due the use of infected endoscopes. Furthermore, the clearance of disposable endoscopes by various regulatory bodies is estimated to create lucrative opportunities for the market.

About Fact.MR

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, chemical, and materials, to even the most niche categories. 80% of Fortune 1000's trusts us in critical decision making.

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SOURCE Fact.MR

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