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Endoscopy Devices Market
The growing prevalence of chronic conditions and rising demand for minimally invasive are the key factors propelling the market growth.
Gastrointestinal endoscopy devices, which come with high-definition cameras to ensure diagnostic precision in real-time, are being increasingly used owing to their early detection capabilities.” - Polaris Market ResearchNEW YORK CITY, NY, UNITED STATES, October 2, 2024 /EINPresswire / -- An in-depth analysis of the endoscopy devices market segmentation assists stakeholders in identifying the prevailing market opportunities.
The market for endoscopy devices is poised to exhibit a steady CAGR of 7.5% from 2024 to 2032, according to the latest study by Polaris Market Research. The endoscopy devices market size was valued at USD 54.30 billion in 2023 and is anticipated to grow to USD 103.59 billion by 2032.
Market Introduction:
An endoscope is a medical equipment that comes with a light attached. It is used for looking inside a body cavity or organ without major surgery. An endoscope is inserted through a natural opening in the body, such as the rectum during a sigmoidoscopy or the mouth for a bronchoscopy. It makes use of fiber optics to illuminate and capture images of the inside of the body. A medical procedure performed using any type of endoscope is called an endoscopy.
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Endoscopy has experienced significant advancements in recent times. It now facilitates some forms of surgery with the help of a modified endoscope. Procedures such as the removal of small tumors from the lungs or the digestive system, sealing of fallopian tubes, and the removal of the gallbladder can now be performed using endoscopes. With rising healthcare spending and growing investments in healthcare infrastructure, the endoscopy devices market demand is anticipated to rise.
Market Report Scope:
.Market Size Value in 2023: USD 54.30 billion
.Revenue Forecast in 2032: USD 103.59 billion
.CAGR: 7.5% from 2024 to 2032
.Base Year: 2023
.Historical Data: 2019–2022
.Forecast Period: 2024–2032
Top Market Participants:
The presence of a diverse range of participants characterizes the market for endoscopy devices. The market has the presence of several established players. The top market participants are continuously improving their technologies to maintain a competitive edge in the market. Also, the expected entry of new players is poised to intensify the competition.
The endoscopy devices market key players are:
.Arthrex, Inc.
.Cook Medical
.Fujifilm Holdings Corporation
.Hoya Corporation
.Johnson & Johnson
.Olympus Corporation
.Richard Wolf GmbH
.PENTAX Medical
.STERIS
.Stryker Corporation
Market Drivers and Opportunities:
Drivers:
Rise in Gastrointestinal Diseases: The rise in gastrointestinal diseases is one of the major factors driving the endoscopy devices market growth. With the increasing prevalence of conditions such as inflammatory bowel disease and colorectal cancer, the demand for minimally invasive and therapeutic procedures has increased.
Expanding Elderly Population: The need for endoscopy devices is further fueled by the expanding elderly population across the globe. Rising age increases the susceptibility to health issues, thereby driving the demand for diagnostic and therapeutic interventions. Endoscopy devices, known for their minimally invasive nature, play a vital role in addressing the healthcare needs of the elderly population.
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Opportunities:
Increased Investments: The surge in global healthcare spending is having a favorable impact on the market expansion. The increase in healthcare budgets allows institutions to invest in advanced technologies, thereby fostering endoscopy devices market growth through continuous innovation.
Regional Landscape:
North America: North America accounted for the largest market share in 2023. This is primarily because the region is at the forefront of adopting advanced technologies. Also, North America has the presence of several leading endoscopy device manufacturers and research institutions that continuously innovate and introduce advanced endoscopic devices.
Asia Pacific: Asia Pacific is expected to experience significant growth in the endoscopy devices market from 2024 to 2032. The rapidly growing population in APAC exhibits robust demand for endoscopy devices. Besides, increased healthcare awareness and the rising prevalence of gastrointestinal diseases propels the regional market growth.
Market Segmentation:
By Type Outlook
.Endoscopes
.Endoscopy Visualization Systems
.Accessories
.Others
By Application Outlook
.Laparoscopy
.Bronchoscopy
.Otoscopy
.Arthroscopy
.Urology Endoscopy
.Gastrointestinal Endoscopy
.Others
By End Use Outlook
.Hospitals
.Outpatient Facilities
.Others
By Regional Outlook
.North America
oUS
oCanada
.Europe
oGermany
oFrance
oUK
oItaly
oSpain
oNetherlands
oRussia
oRest of Europe
.Asia Pacific
oChina
oJapan
oIndia
oMalaysia
oSouth Korea
oIndonesia
oAustralia
oVietnam
oRest of Asia Pacific
.Middle East & Africa
oSaudi Arabia
oUAE
oIsrael
oSouth Africa
oRest of the Middle East & Africa
.Latin America
oMexico
oBrazil
oArgentina
oRest of Latin America
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FAQs:
What is the estimated CAGR for the endoscopy devices market?
The endoscopy devices market is anticipated to exhibit a CAGR of 7.5% from 2024 to 2032.
What will be the estimated market value by the end of 2032?
The market for endoscopy devices is projected to reach USD 103.59 billion by 2032.
Which type segment held the largest market share?
The endoscopes segment accounted for the largest market share in 2023.
By application analysis, which segment witnessed the largest endoscopy devices market share?
The gastrointestinal endoscopy segment accounted for the highest market share in 2023.
Browse PMR's Endoscopy Devices Market Report Coverage from Different Publications:
Endoscopy Devices Market Size to Surge with 7.5% CAGR, Global Revenue to Exceed 103.59 Billion by 2032 | Polaris Market Research
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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
Likhil G
Polaris Market Research and Consulting
+1 929-297-9727
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