Market Size of China Endoscopy Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 2.40 Billion |
| Market Size (2029) | USD 3.48 Billion |
| CAGR (2024 - 2029) | 7.70 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Endoscopy Devices Market Analysis
The China Endoscopy Devices Market size is estimated at USD 2.40 billion in 2024, and is expected to reach USD 3.48 billion by 2029, growing at a CAGR of 7.70% during the forecast period (2024-2029).
The COVID-19 pandemic resulted in a global crisis. Surgeons and patients visiting hospitals for various treatments were at increased risk of getting infected by COVID-19. The reduction and postponement of elective surgeries due to the fear of COVID-19 infection majorly impacted the growth of the market for endoscopy devices. For instance, according to the study published in the World Journal of Emergency Medicine in May 2022, the overall number of diagnoses and treatments in Chinese endoscopy centers between 2019 and 2020 decreased.
Among them, therapeutic procedures grew while diagnostic procedures (regular gastroscopy, routine colonoscopy, etc.) dropped. The operations most impacted were routine gastroscopy and capsule gastroscopy. In addition, bronchoscopists were impacted. Thus, COVID-19 had a significant impact on the market. However, the market is growing at a stable pace owing to a resumption of endoscopy procedures, and it is expected to witness a similar trend over the coming years.
Endoscopic surgeries are performed for imaging procedures and minor surgeries. A growing preference for minimally invasive surgeries, the increasing use of endoscopy for treatment and diagnosis, and technological advancements leading to enhanced applications are the major factors leading to the market growth. Minimally invasive surgical (MIS) procedures include several advantages over conventional procedures, such as less post-operative pain, fewer major operative and post-operative complications, faster recovery times, less scarring, less stress on the immune system, and smaller incisions. These benefits of minimally invasive procedures reduce the overall hospital and the cost of the treatment, due to which MIS procedures are being preferred all over China, driving the market's growth.
Rapid developments in GI endoscopy were made in mainland China, and major diagnostic endoscopes and therapeutic endoscopy procedures are predominantly used in large endoscopy units. In addition to improvements in GI endoscopy equipment, standard procedures, including standard reprocessing for endoscopy, are driving this market segment in the region. For instance, in May 2021, HOYA Group's PENTAX Medical and Jiangsu Vedkang Medical Science and Technology formed a joint venture (JV) to create single-use, flexible medical endoscopic therapeutic products. These devices could benefit patients, physicians, and medical care systems by reducing the cost or complexity of procedures. It could also result in improved recovery times for patients.
The rising technological advancement of the endoscope is expected to propel the market's growth. For instance, in December 2021, enlightenVue, Inc. announced that China had granted the company a patent covering the core technology underlying its SurgiVue single-use micro-endoscope platform. The patented technology enables the endoscope for diagnostic and therapeutic applications in a single procedure through two working channels in a two-millimeter working diameter.
Therefore, the reasons above may drive China's endoscopic devices market. However, the infections caused by a few endoscopes may impede the market growth.
