Endoscopy Market Size

Endoscopy Market Size

Endoscopy Market size was worth USD 36.9 billion in 2022 and is poised to observe 6.8% CAGR from 2023-2032, driven by the increasing demand for endoscopy procedures among the rapidly expanding geriatric population.

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The rising vulnerability of the geriatric individuals to chronic illnesses, such as orthopedic, gastrointestinal, ophthalmology, and cancer due to decreased immunity and deteriorating health will drive the market growth. To that end, a large number of medical device manufacturers are developing medically sophisticated technologies to meet the rising requirements for minimally invasive surgical treatments conducted in safe and efficient manner. For instance, in May 2023, the Olympus Corporation gained the FDA certification for the EVIS X1 endoscopic system, which includes two interchangeable gastrointestinal endoscopes.

The shortage of skilled physicians and endoscopists in developing countries may limit the endoscopy market growth to some extent. While the demand for endoscopic procedures is rising due to their minimally invasive nature and diagnostic accuracy, the availability of trained professionals to perform these procedures is limited. Hence, multiple challenges in providing comprehensive medical training and specialization programs are leading to the scarcity of qualified endoscopy practitioners. The declining adoption of advanced endoscopic techniques along with the hindered patient access to timely and accurate diagnoses are also likely to negatively impact the market revenue.