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Flexible Endoscopes Market Size

Report ID: GMI5194
Published Date: Aug 2022
Report Format: PDF

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Flexible Endoscopes Market Size

Flexible Endoscopes Market size was recorded at more than USD 5,500 million in 2021. The industry is anticipated to exhibit a CAGR of over 7% from 2022 to 2030, driven by the rapid advancement of flexible endoscope technology.

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The innovation of medical technology continues to shape the future of healthcare. Devices such as fiberscopes and video endoscopes have undergone constant advancements over recent years. Nanotech and other breakthrough technologies are also being leveraged to minimize inflammation and infection risk, and subsequently improve the success rate of procedures. The rapid tech development is creating a positive outlook for the flexible endoscopes industry worldwide.

Industry players are also emphasizing research and development activities to develop cutting-edge medical technologies and commercialize advanced flexible endoscope components. Gastrointestinal (GI) disorders are among the debilitating health conditions, with 5.9% of the adults diagnosed with ulcers in 2018, according to the Centers for Disease Control and Prevention. Since endoscopy is considered a critical diagnostic tool for digestive disorders, the growing GI disease burden will provide lucrative opportunities for flexible endoscopes market expansion over the forecast period.

Flexible Endoscopes Market Report Attributes
Report Attribute	Details
Base Year:	2021
Flexible Endoscopes Market Size in 2021:	USD 5,549.3 million
Forecast Period:	2022 to 2030
Forecast Period 2022 to 2030 CAGR:	7.1%
2030 Value Projection:	USD 10,569 billion
Historical Data for:	2017 to 2021
No. of Pages:	249
Tables, Charts & Figures:	194
Segments covered:	Product, Application, End-use, and Region
Growth Drivers:	Growing prevalence of chronic conditions Technological advancements Increasing popularity of minimally invasive therapies Rising health awareness and demand for early-stage diagnosis
Pitfalls & Challenges:	Changing regulations related to medical equipment

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Strict regulatory requirements may hamper the flexible endoscopes market size

To help develop safe and effective medical endoscopy devices, governments and organizations are introducing strict regulatory norms. New regulations pertaining to the use of medical devices from Canada, the United States, and the European Union are also being constantly implemented. These factors may restrict the growth of the global market since regulatory changes may curb market access and impact the bottom lines of businesses.

Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

The flexible endoscopes market size reached over USD 5,500 million in 2021 and will exhibit a CAGR of over 7% through 2030, driven by rapid technological advancements in the healthcare sector.

The video endoscope segment is set to be valued over USD 6,900 million by 2030, given its favorable attributes such as ease of use, alongside the high awareness of early disease diagnosis.

The pulmonary endoscopy segment is poised to depict a CAGR of 7.5% through 2030, as a result of the increasing number of patients with respiratory diseases.

North America flexible endoscopes industry will be valued over USD 4,500 million by 2030, owing to the rising geriatric population susceptible to chronic diseases.