Endoscopy Equipment Market Size Estimated to Reach $38.25 Billion by 2025

Endoscopy Equipment Market size is estimated to reach $38.25bn by 2025, growing at a CAGR of 6.14% during the forecast period 2020-2025. Endoscopy Equipment refers to an equipment that is used in medicine to examine the interior of a hollow organ or cavity of the body. Unlike many other medical imaging techniques, endoscopes are inserted directly into the organ. Rapid increase in the demand for endoscopy devices in diagnostic procedures, advancements in technology, increase in the adoption of less invasive procedures, rise in the number of age-related and cancer diseases are the factors that are set to drive the growth of the global market for the forecast period 2020-2025.

Key Takeaways
Geographically, North America Endoscopy Equipment Market accounted for the highest revenue share in 2019 and it is poised to dominate during the forecast period 2020-2025 owing to the high demand.
The increase in the technology and awareness among customers is likely to aid in the market growth of Endoscopy Equipment Market.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Endoscopy Equipment Market report.
The increase in the number of cancer diseases and increase in the adoption of less invasive procedures are creating higher opportunities for the growth of market for the forecast period 2020-2025.

By Application- Segment Analysis
Based on the Application, Gastrointestinal Endoscopy segment held the largest share in 2019 owing to the factors such as rapid increase in the geriatric population, increase in the endoscopic procedures of gastrointestinal cancers and increase in the investment by the major companies. Urology Endoscopy segment is estimated to be the fastest growing segment during the forecast period 2020-2025. The growth in this segment is owing to the factors such as increase in the prevalence of urinary disorders, increase in the number of deaths related to bladder cancer, advancements in technology and increase in the number of ureteroscopic interventions.

By End User- Segment Analysis
Based on the End User, Hospitals segment held the largest share in 2019 owing to the factors such as rapid increase in the number of endoscopic surgeries; increase in the funding’s by governments and increasing inclination among physicians to perform endoscopic surgeries in a hospital-based environment. Ambulatory Surgery Centers segment is estimated to be the fastest growing segment owing to the factors such as reduction in the postsurgical complications, improvement in the quality of care, cost effectiveness and faster recovery time.

By Geography – Segment Analysis
Based on the Geography, North America held the largest share in 2019. The growth in this segment is owing to the factors such as increase in the adoption of robot-assisted endoscopes, growing prevalence of colorectal cancer, increase in the investment by the major companies and growing inclination towards less invasive procedures. Asia-Pacific is estimated to be the fastest growing segment owing to the factors such as rapid increase in the number of cancer patients, growing demand for diagnostic therapies and increase in the focus on improving healthcare infrastructure.

Drivers – Endoscopy Equipment Market
Increase in the adoption of less invasive surgeries and technological advancements in endoscopy procedures.
The increase in the adoption of less invasive procedures owing to the factors such as patient satisfaction, reduction in the postsurgical complications and cost effectiveness is estimated to enhance the growth of Endoscopy Equipment Market. The technological advancements in endoscopy procedures is also estimated to enhance the growth of Endoscopy Equipment Market.
Growing demand for endoscopy devices in therapeutic procedures and increase in the prevalence of age-related and cancer diseases
There is a rapid increase in the demand for endoscopy devices in therapeutic and diagnostic procedures owing to the growing geriatric population and changes in demographics and lifestyle. This led to rapid increase in the growth of Endoscopy Equipment Market. Increase in the prevalence of age-related and cancer diseases is also estimated to enhance the growth of the Endoscopy Equipment Market.

Challenges – Endoscopy Equipment Market
Infections caused by endoscopy devices and lack of skilled technicians.
The infections and complications caused by endoscopy devices is one of the major factors that is estimated to reduce the growth of the Endoscopy Equipment Market. Lack of skilled technicians is another factor likely to reduce the growth of the Endoscopy Equipment Market.

Endoscopy Equipment Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Endoscopy Equipment Market. Key companies of this market are Boston Scientific Corporation, Olympus Corporation, Karl Storz, Fujifilm Holdings Corporation, Richard Wolf GmbH, Stryker Corporation, Cogentix Medical, Pentax Medical, Cantel Medical, Ethicon Endo-Surgery LLC among others.

Acquisitions/Product Launches:
In 2018, Boston Scientific Corporation has acquired EMcision Limited for expanding the endoscopy equipment portfolio and to include the Habib EndoHPB probe, a novel endoscopy bipolar radiofrequency device, which coagulates tissue in the gastrointestinal tract.
In 2020, Olympus Corporation has launched the new endoscopy system EVIS X1 to improve outcomes from disorders from diseases and for supporting screening and diagnosis through introducing new technologies.