Endoscopy Equipment Market

The global endoscopy equipment market is projected to reach USD 46.2 billion by 2029 from USD 32.3 billion in 2024, at a CAGR of 7.4%.

The global endoscopy equipment market is experiencing substantial growth due to many driving factors, including surging requirement for endoscopy to diagnose and treat target diseases, increasing investments, funds, and grants by governments and other organizations worldwide, growing focus of hospitals to invest in technology advanced endoscopy instruments and expand endoscopy units, ongoing advancements in endoscopic technologies to ensure patient safety and achieve more accurate treatments, rising incidence of IBD and CRC that require endoscopy procedures. Drivers such as Increasing preference for minimally invasive surgeries, adoption of single-use endoscopy instruments to prevent infectious diseases and offer increased efficiency and safety, and rising focus of medical specialities to shift from manual to automated endoscopy reprocessing are also contributing towards the overall growth of the global endoscopy equipment market.

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Endoscopy Equipment Market by Product (Endoscope (Flexible, Disposible, Rigid, Capsule, Robot-assisted), Visualization Systems (Video Converters, Recorders, Processors)), Application, End User, and Region – Global Forecast to 2029

In this report, the endoscopy equipment market is segmented into product type, application type, end user, and region.

Based on product type, the endoscopy equipment market is divided into endoscopes, visualization systems, other endoscopy equipment, and accessories. As of 2023, the accessories segment accounted the third largest share in the global endoscopy equipment market.The market share can be attributed to the factors that there are a side variety of accessories designed for specific procedures and functionalities and they are compatible with various models from the manufacturers..

Based on the type of applications, the endoscopy equipment market includes segments such as gastrointestinal endoscopy, laparoscopy, arthroscopy, obstetrics/gynecology endoscopy, urology endoscopy, bronchoscopy, mediastinoscopy, ENT endoscopy, and other specialized applications. Among these, the arthroscopy segment accounted the fourth largest share of the overall endoscopy equipment market in 2023. This dominance is primarily attributed to demographic shifts, particularly the aging population in key regions like the US, China, Japan, and India. Additionally, the increased prevalence of joint injuries like ligament tears, meniscus damange, and rotator cuff injuriesamong younger adults has heightened awareness about the importance of arthroscopy, contributing to the segment’s significant growth rate.

Based on end users, the endoscopy equipment market is segmented into hospitals, ambulatory surgery centers/clinics and other end user. The other end user segment accounted for the third largest share in the endoscopy equipment market in 2023. This dominance can be attributed to several driving factors. Diagnostic Laboratories, Research Institutions has nowadays started to implement new technologies and advanced procedures. Additionally, the increasing prevalence of complex medical conditions requiring diagnostic endoscopic procedures further amplifies the demand for such equipment within diagnostic centers, solidifying their position in this market.

Based on the regions, in 2023, North America emerged as the dominant region in the endoscopy equipment market, followed by Europe, APAC, Latin America and Middle East and Africa. This leadership position is owed to substantial investments made by hospitals towards procuring advanced endoscopic equipment, coupled with a strong emphasis on research aimed at refining endoscopy techniques. Additionally, favorable reimbursement policies for endoscopic procedures in the US and the adoption of innovative funding models by hospitals in Canada further bolstered the region’s prominence.

Prominent players in the endoscopy equipment market include Olympus Corporation (Japan), KARL STORZ SE & Co. KG (Germany), Boston Scientific Corporation (US), JOHNSON & JOHNSON (US), Stryker Corporation (US), Medtronic, plc (Ireland), Fujifilm Holdings Corporation (Japan), HOYA Corporation (Japan), Nipro Corporation (Japan), Smith & Nephew plc (UK), Intuitive Surgical, Inc. (US)

Recent Developments of Endoscopy Equipment Industry:

In November 2023, Olympus Corporation launched the EVIS X1, an advanced endoscopy system in the existing product portfolio of the company..
In September 2023, Stryker launched, 1788, a minimally invasive surgical camera, offering more vibrant image with balanced lighting.
In January 2022, The Johnson & Johnson Medical Devices Companies (JJMDC) collaborated with Microsoft Corporation Inc, (US) to enable and expand JJMDC’s secure and compliant digital surgery ecosystem.

The global endoscopy equipment market is witnessing remarkable growth, fueled by the increasing demand for minimally invasive procedures and technological advancements in the field. Valued at $32.3 billion in 2024, this market is projected to reach $46.2 billion by 2029, growing at an impressive compound annual growth rate (CAGR) of 7.4%.

Driving Forces Behind Market Expansion

Several factors are propelling the growth of the endoscopy equipment market. Notably, governments and organizations are investing heavily in endoscopic technologies, recognizing their potential to enhance patient outcomes. Hospitals are prioritizing the expansion of endoscopic units and the integration of cutting-edge equipment, driven by the desire to provide superior diagnostic capabilities and treatment options.

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However, the market’s growth is not without challenges. In developing economies, the high overhead costs associated with endoscopy procedures, coupled with limited reimbursement options, pose a significant barrier, hindering access to these essential services.

Opportunities on the Horizon

Despite the challenges, the endoscopy equipment market holds promising opportunities. The booming healthcare sector in developing economies presents a lucrative avenue for growth. As these nations experience rapid urbanization and an expanding middle class, the demand for quality medical services is on the rise. Governments are investing in healthcare infrastructure and technology, paving the way for increased accessibility and affordability of endoscopic procedures.

The Ecosystem and Key Players

The endoscopy equipment industry is a dynamic ecosystem, comprising major players such as Olympus Corporation, KARL STORZ SE & Co. KG, Boston Scientific Corporation, Johnson & Johnson, Stryker Corporation, Medtronic, and Fujifilm Holdings Corporation, among others. These companies are at the forefront of innovation, driving the development of advanced endoscopic technologies and equipment.

Market Segmentation

The endoscopy equipment market is segmented based on product, application, end-user, and region. The visualization systems segment holds a significant share, reflecting the growing demand for high-definition displays and monitors that enhance diagnostic precision. The gastrointestinal endoscopy segment dominates the market by application, driven by the rising incidence of gastrointestinal disorders globally.

Hospitals represent the largest end-user segment, attributable to the high volume of endoscopic procedures performed within their facilities and the resources available for integrating advanced technologies.

Regional Landscape

North America leads the endoscopy equipment market, buoyed by its advanced healthcare infrastructure, widespread adoption of medical technologies, and a growing incidence of gastrointestinal ailments. The region’s well-established healthcare facilities are at the forefront of implementing endoscopic procedures and integrating cutting-edge equipment.

Conclusion

The endoscopy equipment market is poised for substantial growth, driven by the increasing demand for minimally invasive procedures, technological advancements, and the expanding healthcare sector in developing economies. While challenges persist, particularly in terms of cost and access, the market’s potential remains promising, with key players continuously innovating and introducing advanced solutions to enhance patient care and diagnostic capabilities.

According to a new report by MarketsandMarkets™. – Endoscopy Equipment Market in terms of revenue was estimated to be worth $32.3 billion in 2024 and is poised to reach $46.2 billion by 2029, growing at a CAGR of 7.4% from 2024 to 2029.

The growth in this market is primarily driven by factors such as increasing prevalence of gastrointestinal diseases, rising demand for minimally invasive surgeries, technological advancements leading to enhanced imaging and procedural capabilities, expanding healthcare infrastructure, and growing awareness about early disease diagnosis and treatment.

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In the forecast period, the endoscopes segment dominated the global endoscopy equipment market. This significant share can be credited to the increasing favouritism of minimally invasive procedures by both patients and healthcare professionals, along with the elevated uptake of such equipment by end users. Moreover, continuous advancements in endoscopy technologies contribute to the segment’s substantial presence in the market.

Based on application, the obstetrics/gynecology endoscopy segment of the endoscopy equipment market accounted the third largest market share in the forecast period. This growth subjected to the rising incidence of gynaecological conditions like endometriosis, uterine fibroids. Technological improvements in visualization systems and endoscopes, accessories tools like grasping tools are driving the growth of the gynecology endoscopy segment as well.

Ambulatory surgery centers/clinics secure the second-largest market share in the endoscopy equipment market. This largest share comes from the increasing trend towards outpatient procedures due to their convenience and cost-effectiveness. Additionally, the rising demand for minimally invasive surgeries in these settings drives the adoption of advanced endoscopy equipment. As ambulatory surgery centers continue to grow in popularity, the demand for endoscopy equipment in these facilities is expected to witness steady growth in the foreseeable future.

Europe to possess the second largest market share in the endoscopy equipment market in the forecast period due to its rising investments towards medical technology, high adoption rates of advanced medical technologies, and increasing prevalence of gastrointestinal diseases. These factors drive demand for endoscopy equipment, positioning Europe as one of the leading market regions.

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Endoscopy Equipment Market Dynamics:

Drivers:

Growing focus of hospitals to invest in technologically advanced endoscopy instruments and expand endoscopy units

Restraints:

High overhead costs of endoscopy procedures with limited reimbursement in developing countries

Opportunities:

Booming healthcare sector in developing economies

Challenge:

Shortage of trained physicians and endoscopicts

Key Market Players of Endoscopy Equipment Industry:

A breakdown of the primary participants (supply side) for the endoscopy equipment market referred to for this report is provided below:

By Company Type: Tier 1–35%, Tier 2–20%, and Tier 3–45%
By Designation: C-level–45%, Director Level–25%, and Others–30%
By Region: North America–36%, Europe–26%, Asia Pacific–21%, Latin America-10%, and Middle East & Africa_ 7%

Recent Developments of Endoscopy Equipment Industry:

In November 2023, Olympus Corporation launched the EVIS X1, an advanced endoscopy system in the existing product portfolio of the company.
In September 2023, Stryker launched, 1788, a minimally invasive surgical camera, offering more vibrant image with balanced lighting.
In January 2022, The Johnson & Johnson Medical Devices Companies (JJMDC) collaborated with Microsoft Corporation Inc, (US) to enable and expand JJMDC’s secure and compliant digital surgery ecosystem.

Endoscopy Equipment Market is projected to reach USD 40.6 billion by 2027 from USD 28.9 billion in 2022, at a CAGR of 7.0%.

Endoscopy Equipment Market by Product (Endoscope (Flexible, Rigid, Capsule, Robot-assisted, Disposable), Visualization Systems (Video Converters, Recorders, Processors), Other endoscopic, Accessories), Application, End User — Global Forecast to 2027

The growth in this market is driven by Surging requirement for endoscopy to diagnose and treat target diseases, increasing investments, funds, and grants by governments and other organizations worldwide to improve healthcare infrastructure and research areas of endoscopy and Increasing preference for minimally invasive surgeries.

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Endoscopy Equipment Industry Key Market Players:

Prominent players in the endoscopy equipment market include Olympus Corporation (Japan), KARL STORZ SE & Co. KG (Germany), Stryker Corporation (US), Boston Scientific Corporation (US), JOHNSON & JOHNSON (US), Fujifilm Holdings Corporation (Japan), Medtronic, Inc. (Ireland), HOYA Corporation (Japan), Nipro Corporation (Japan), Intuitive Surgical, Inc. (US) and Smith & Nephew plc (UK).

Based on product, the endoscopes segment is expected to account for the largest share of the endoscopy equipment market

The endoscopes segment accounted for the largest share of the global endoscopy equipment market in the forecast period. The large share of this segment can be attributed to the rising preference of patients and doctors for minimally invasive procedures, higher adoption rate of these equipment by end users, and ongoing advancements in endoscopy technologies.

On the basis of application, gastrointestinal endoscopy segment is expected to account for the largest share of the endoscopy equipment market

Based on application, the gastrointestinal endoscopy segment accounted for the largest share of the endoscopy equipment market in the forecast period. This segment is also expected to witness the highest CAGR of 7.8% during the forecast period. The highest growth rate of this segment can be subjected to the increasing geriatric population in Asia Pacific region, rising incidence of colorectal cancer (CRC) in younger adults in US and Canada, which leads to growing screening using GI endoscopy of the target population for CRC screening.

Based on end user, hospitals segment holds the highest market share in the endoscopy equipment market

Based on end user, the hospitals segment is likely to dominate the endoscopy equipment market during the forecast period owing to the increasing government and private funding in the healthcare sector, rising adoption of endoscopy equipment in hospitals, as well as the greater availability of skilled healthcare professionals and technologically advanced facilities.

Based on Region, North America to dominate the endoscopy equipment market during the forecast period

The endoscopy equipment market in North America dominated the endoscopy equipment market in the forecast period. The largest share of North America in the global market is attributed to increased prominence of IBD, high investments by hospitals to purchase new endoscopic equipment for screening of cancers, polyps and other indications, as well as the implementation of a new funding model by Canadian hospitals.

Recent Developments:

In February 2021. Olympus Corporation (Japan) launched SIF-H190 single balloon enteroscopy solution, a endoscopy system to reach deep into the small intestine.
In June 2021, Johnson & Johnson (US) Launched the ENSEAL X1 Curved Jaw Tissue Sealer, an advanced bipolar energy device that increases procedural efficiency and provides stronger sealing and better access to more tissues.
In May 2019, FUJIFILM Corporation built a new smart manufacturing facility in the site of FUJIFILM Techno Products Co., Ltd., which is one of Fujifilm’s production bases for endoscopy products. The new manufacturing facility is fully operational from September 2019. This new manufacturing facility will utilize AI and IoT technologies to achieve high production efficiency.