Endoscopy Market Study by Competitive Analysis and Future Prospects to 2027

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Endoscopy Market Study by Competitive Analysis
and Future Prospects to 2027

• With increasing prevalence of chronic disorders
  across the globe and introduction of innovative
  treatment solutions for these disorders,
  endoscopy market is anticipated to witness
  tremendous growth over the coming years. Patients
  with severe chronic conditions are usually
  recommended to undergo endoscopic procedures as
  it helps the surgeons to look inside the body
  parts without performing major incisions. This
  has urged the industry players to develop
  advanced endoscopic devices facilitating improved
  visualization and navigation. For instance, Third
  Eye Panoramic system by Avantis Medical Systems
  provides up to a 330-degree view of the colon to
  the physicians which helps them in screening the
  folds and flexures of the colon.
• According to Global Market Insights, Inc.,
  endoscopy market size is expected to exceed USD
  52.0 billion by 2027.

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• In terms of the product type, endoscopic
  ultrasound segment was valued at around USD 1,210
  million in 2020 and is projected to witness a
  robust CAGR of 8.1 through 2027. This can be
  attributed to the significant technological
  advancements in endoscopic ultrasound (EUS)
  devices. Over the past few years, incorporation
  of advanced design in devices and equipment has
  evoked the utility of EUS as therapeutic and
  diagnostic tools which is fostering the segment
  growth.

• Based on application bifurcation, GI endoscopy
  segment is estimated to register substantial
  gains over coming years owing to rising
  prevalence of gastrointestinal disorders. One
  such severe GI disorder is Gastrointestinal tumor
  which has emerged as one of the leading causes of
  deaths around the globe. Increasing awareness
  campaigns pertaining to the GI disorders is
  augmenting the demand of GI endoscopic
  treatments.

• Based on end-use bifurcation, hospital segment
  had recorded a substantial valuation of over USD
  15,580 million in 2020 and is expected to grow
  exponentially over coming years. The growth can
  be credited to increasing patient inclination
  toward hospitals for their endoscopic procedures
  as they offer enhanced healthcare services and
  sophisticated medical devices. Growing government
  and private funding and favorable reimbursement
  scenario has further increased the preference for
  hospitals among patients.

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• Regional Analysis

• In terms of regional outlook, Brazil endoscopy
  market is anticipated to observe an appreciable
  growth over the coming years. It had dominated
  the overall LATAM endoscopy industry by
  registering a valuation of more than USD 321
  million in 2020. This is majorly due to ongoing
  technological advancements and increasing number
  of patients with gastrointestinal disorders which
  is fueling the demand for endoscopic devices in
  the country.

• Competitive Analysis

• Key players in the market are B. Braun Melsungen
  AG, Boston Scientific, Conmed Corporation, Cook
  Medical LLC, Ethicon US, LLC, Fujifilm
  Corporation, Hoya Corporation, Karl Storz,
  Medtronic, Olympus Corporation, Richard Wolf
  GmbH, Smith Nephew PLC, Stryker

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