Endoscopy Market size to exceed $63.1bn by 2030

Endoscopy Market size is set to surpass USD 63.1 billion by 2030, according to a new research report by Global Market Insights Inc.
 

Increasing prevalence of chronic diseases including gastrointestinal disorders, urology diseases, cancer, and other ailments is contributing to surging the patient pool across the globe. Rising geriatric population is one of the major factors fueling the product demand for the treatment of several chronic disorders. Additionally, the geriatric patients above the age of 65 years accounts for a major portion of this diseased population for the diagnosis and treatment of lung cancer.
 

Growing geriatric population globally will increase the product demand

Enhancement in the healthcare delivery & emergence of quality services has led to a notable surge in the treatment options available for the aging population worldwide. Geriatric population is more susceptible to diseases due to less responsiveness by the body resulting in different treatments including endoscopy and surgical intervention. Cataract has been documented to be the most significant cause of bilateral blindness among geriatric population across the globe.
 

Rising adoption of visualization systems for endoscopy surgeries will spur the endoscopy market expansion

Visualization systems segment is projected to grow at 6.7% CAGR from 2022-2030. This is due to the significant rise in the number of endoscopic surgeries performed annually along with increasing focus on minimally invasive surgeries and other macroeconomic factors. High prevalence of gynecology, GI disorders, and lung diseases among others are expected to drive the market reveneue. Chronic obstructive pulmonary disease (COPD) is a lung disorder and can be examined using visualization systems for surgical procedures. Early diagnosis and treatment can be possible using endoscopy visualization systems to reduce the morbidity and mortality rate for such chronic diseases.
 

Browse key industry insights spread across 196 pages with 243 market data tables & 16 figures & charts from the report, “Endoscopy Market Analysis By Product (Endoscopes {Rigid Endoscopes, Flexible Endoscopes, Capsule Endoscopes, Robot-Assisted Endoscopes}, Visualization Systems, Endoscopic Ultrasound, Insufflator), Application (Arthroscopy, Laparoscopy, GI Endoscopy, Obstetrics/Gynecology, ENT Endoscopy, Pulmonary Endoscopy), End-use (Hospitals, Ambulatory Surgical Centers), Industry  Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/endoscopy-market
 

Increasing adoption of GI endoscopic procedures is projected to expand the endoscopy market share

GI endoscopy segment is anticipated to reach USD 14.4 billion by 2030. GI endoscopy involves the insertion of an endoscope through the gastrointestinal tract for the examination and diagnosis of esophagus, stomach, and duodenum, among others. This has resulted in increased quality of life and life expectancy among people suffering from GI diseases and increasing the product demand among hospitals and ambulatory surgical centers. Furthermore, the use of GI endoscopy in the procedure offers better visualization, thereby facilitating precise surgical interventions.
 

Surging patient preference for ambulatory surgical centers will drive the endoscopy market forecasts

Ambulatory surgical centers segment was valued at USD 10.5 billion in 2021. This is owing to the surging patient preference towards ambulatory surgical centers for better patient assistance, high care standards and affordability. However, ambulatory surgical centers provide cost-effective and high-quality services, thereby delivering optimal operative outcomes along with affordability and shorter medical stay. Moreover, accessibility to a wide range of treatments incorporating advanced endoscopy technology and equipment serve the patient population undergoing endoscopy procedures is likely to spur the product adoption in such healthcare settings.
 

Growing incidence of chronic ailments in Germany will fuel the endoscopy market progression

Germany market is projected to register 5.9% CAGR through 2030 driven by the increasing prevalence of chronic diseases and surging geriatric population base. The rise in the prevalence rates of joint disorders in the country has propelled the number of arthroscopy surgeries. Orthopedic surgeries are increasing in Germany due to increasing incidences of loose bone fragments, damaged or torn cartilage, inflamed joint linings, torn ligaments, etc. among adults and geriatric population.
 

Players are emphasizing on strategic initiatives and innovative product launch to expand business operations

Some of the major players operating in the endoscopy industry are Olympus Corporation, Boston Scientific Corporation, Intuitive Surgical, Inc., Stryker Corporation, Medtronic plc, and B Braun Melsungen AG. These players are engaged in strategic collaborations, partnerships, and agreements to gain competitive advantage over their competitors.