Global Endoscopy Devices Market Size

Endoscopy Devices Market Analysis

The Global Endoscopy Devices Market size is estimated at USD 37.63 billion in 2024, and is expected to reach USD 51.70 billion by 2029, growing at a CAGR of 6.56% during the forecast period (2024-2029).

COVID-19 impacted the endoscopy devices market due to the cancellations of elective procedures. However, the market recovered in the last two years since the restrictions were lifted and endoscopic procedures resumed. The strategic initiatives by market players to launch innovative endoscopic devices and boost the procedures compensated for the market growth in the later phase of a pandemic. For instance, in April 2022, Fujifilm launched a mobile training hub EndoRunner Tour, with the EndoRunner set to visit hospitals and conferences across Europe at the European Society of Gastrointestinal Endoscopy conference. The launch intended to tackle endoscopy challenges in post-COVID infection. The emergence of new variants of COVID-19 strains was expected to have a negligible impact on the endoscopy devices market. The market was expected to grow stable during the forecast period.

The rising prevalence of various chronic diseases and other diseases is expected to raise the adoption of endoscopy for treatment and diagnosis, thereby boosting the market's growth over the forecast period. For instance, the British Heart Foundation (BHF) data published in January 2022 reported that in 2021, the most common heart conditions affected globally were coronary (ischemic) heart disease, peripheral arterial disease, stroke, and atrial fibrillation. Thus, the high burden of cardiovascular diseases is further expected to increase the demand for endoscopy procedures for diagnostic procedures, thereby boosting the market's growth.

Furthermore, the growing significance, adoption, and evolution of minimally invasive surgeries worldwide testify to the impact that is steadily being utilized for improving patient outcomes. For instance, according to the study titled 'Maintaining a minimally invasive surgical service during a pandemic' published in March 2022, because of benefits including decreased morbidity and quicker recovery times, minimally invasive surgery (MIS) is frequently the preferred procedure for most abdominal and pelvic surgeries. Such a rise in the adoption of MIS will lead to increased adoption of endoscopy devices during the surgical monitoring of tissues, driving the market growth.

Additionally, manufacturers of endoscopy devices are also increasingly focusing on developing technologically advanced endoscopy systems, thereby boosting market growth over the forecast period. For instance, in November 2021, FUJIFILM Healthcare launched the dual-channel endoscope to be cleared by the United States Food and Drug Administration for upper and lower gastrointestinal applications. Also, in June 2022, Getinge released an updated version of the ED-Flow automated endoscope reprocessor featuring a higher level of digital connectivity and data management to Getinge's endoscope reprocessing customers, which will result in improved uptime and increased productivity.

Thus, owing to factors such as the high burden of chronic diseases, rising technological advancements, and launches by market players, the endoscopy devices market is expected to show significant growth globally over the forecast period. However, the lack of skilled technicians and infections caused by few endoscopes hinder the market growth.