The global Endoscopy Visualization Systems Market is estimated to expand from a value of USD 1.3 Billion in 2021, to a value of USD 2.2 Billion by 2028 end, and growing at a CAGR of 7.2% during the forecast period.
Increase in number of endoscopic surgeries performed globally each year is a major factor accounted for growth of endoscopy imaging market. The global healthcare industry is witnessing an increase in the number of endoscopic surgeries performed each year, rising focus on minimally invasive endoscopic surgeries and other macroeconomic factors, such as increase in per capita health care expenditure. All these factors driving the growth of the endoscopy visualization systems market.
High incidence of gynecology, gastrointestinal diseases, urology, and lung disorders presents a huge patient pool who do endoscopic surgeries each year, specifically in developing countries. These aspects can propel the growth of the endoscopy visualization components market.
With the help of modernization act (MMA), manufacturers and developers need to submit premarket submissions and get FDA approval before getting their product in the market. This reduces the time for regulatory agreement – reducing costs significantly and propelling the growth of the endoscopy visualization system markets over a long run.
Endoscopy visualization system provides magnified and high-definition endoscopic images and makes it easier for visualization and precise classification of flat and small polyp’s lesions. This technology makes the treatment easy, as well as help in healthcare savings and propel endoscope reprocessing devices.
Acquisitions, mergers, expansion, product launches and agreements are the key strategies adopted by manufacturers to increase the product sales in different geographies. The companies in the market are focusing on introduction of new products to strengthen product portfolio.
Endoscopy visualization systems market Outlook:
| Data Points | Market Insights |
|---|---|
| Market Value 2022 | USD 1.4 Billion |
| Forecasted Global Market Value (2028) | USD 2.2 Billion |
| Market Growth Rate 2022 to 2028 | 7.2% |
| Top 3 Countries % Share | 44.9% |
| Key Players | Olympus Corporation; Pentax Medical Company (Hoya Corporation); Fujifilm Holding Corporation; Karl Storz GmbH & Co KG; Richard Wolf GmbH and Boston Scientific Corporation are the key players in endoscopy visualization systems market. They take about 73% share. |
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| Particulars | Details |
|---|---|
| H1, 2021 | 7.28% |
| H1, 2022 Projected | 7.19% |
| H1, 2022 Outlook | 7.09% |
| BPS Change - H1, 2022 (O) - H1, 2022 (P) | (-) 10 ↓ |
| BPS Change – H1, 2022 (O) - H1, 2021 | (-) 19 ↓ |
According to Future Market Insights Analysis, the global endoscopy visualization systems market observed a diminished change in the Basis Point Share (BPS) by nearly 19 BPS in H1- 2022(O) compared to H1-2021, whereas, in comparison to H1-2022 Projected value, the market growth rate during H1-2022 outlook period will show a dip of 10 BPS.
This was majorly due to the impact of the COVID-19 pandemic which affected the overall market scenario by postponement of elective surgical procedures, thereby negatively affecting the endoscopic visualization systems market. This is based on value consumption as per the company’s reported revenue.
In developing markets like India, the cost of these visualization systems are very high and this contributes to less growth of the endoscopy visualization in this country. Additionally, the cost recovery scenario in developing regions is quite low which will result in slower growth of this market.
Despite these negative aspects, increasing healthcare expenditure in developed regions, along with technological advances in in-vivo imaging systems will fuel the growth of endoscopy visualization market.
Sales of endoscopy visualization systems market grew at a CAGR of 6.0% between 2013 and 2021.
In 2020, the global market of endoscopy visualization systems accounts for approx. 10.1% of the overall endoscopy market that accounts around USD 13.2 Billion.
Rising demand for minimally invasive procedures will have a high impact on endoscopy visualization system market. Traditionally done surgeries are complex procedures, however, minimally invasive procedures are less complex and safe as they involve smaller incisions on the patient’s body. This procedures is highly adapted by patient due to its less invasive nature and also lesser time taken during surgery plus quick recovery post-surgery. Hence, the demand for endoscopy visualization systems has risen in the recent times.
Minimally invasive procedures have various advantage like less blood loss & reduced chances of infection, rapid recovery time and less marks after surgery on the body. These benefits have attracted a lot of end user consideration thus, driving the endoscopy visualization system market.
Considering this, it is expected for the global endoscopy visualization systems market to grow at a CAGR of 7.2% through 2028.
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High costs for endoscopy visualization system is expected to hamper the growth of market over the forecast period. Installations, repair, service of equipment of endoscope involves high cost. Partial financial support from government in installation also adds to the restraining factor for the growth of the global endoscopy visualization system market
Prospect of installation price return depends on the number of procedures performed per day and availability of good medical facilities. Hence, cost recovering is quite uncertain in regions where medical facilities and surgical procedures are limited and therefore, involves high risk. This factor may restrain the market growth at high rate.
Moreover, lack of trained endoscopy specialists and professionals also adds to the constraints for the growth of endoscopy visualization systems market.
The USA is estimated to account for over 84.9% of the North America endoscopy visualization systems market in 2022. High adoption of technologically advanced systems and devices by the medical facilities and huge number of medical institutions are expected to drive the demand in this country.
Increasing healthcare expenditure by governments has enabled the installation and usage of sophisticated endoscopy visualization systems for endoscopic surgeries in hospitals of USA which will fuel the overall revenue of the endoscopy visualization systems and drive the growth of the market.
Moreover, focus on new technology development with advancements in medical device industry exhibiting innovative product design and enhanced patient safety is expected to create a huge platform for innovative technologies in USA
Germany is estimated to account for 27.0% market revenue share in Europe in 2022. Rising geriatric population, increased obesity rates, growing incidence of associated disease, rising awareness among the patient population and well established healthcare facilities are the major factor boosting the demand for endoscopy visualization systems market in Germany.
For instance, According to the World Health Aging 2020 highlights by the United Nations Department of Economic and Social Affairs, in October 2020, the number of people aged 65 years and older was estimated to be around 727 million globally. In 2020, population aged 65 years and above for Germany was 21.7 %. Population ages 65 and above as a percentage of the total population.
China having great growth opportunities due to changing demographics in emerging economies and growth is demonstrated with CAGR 8.7% by 2028.
Additionally, rapid technological advancement, increasing case of chronic diseases and the increase in disposable income within this particular region is boosting the demand for endoscopy visualization systems.
Emerging economies such as china and japan are expected to provide high growth opportunities for endoscopy visualization market. Healthcare expenditure for public and private use in these countries is projected to see huge growth, which in turn is expected to drive the focus of the manufacturers in these markets.
According to the World Bank Group in 2014 China’s healthcare expenditure was 5.5% of the GDP, and increased in 2020
Recently demand for endoscopy visualization systems market in India is rising and contribute 19.5% market share by value in 2021.
Developing countries such as India have a large share of undiagnosed patients. These geographies represent a big opportunity for medical device manufacturers.
Additionally, the increasing demand for endoscopic procedures due to high prevalence of urology, cancer, gynecology, gastrointestinal, and other cavity disorders owing to changing lifestyle is expected to drive the demand for endoscopy visualization systems in the India.
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High Range EVS accounts for the highest share of around 47.9% in 2021 due to advanced clear image producing technology at less cost and high specificity as compared with low and medium range system.
High-Range EVS is gaining traction due to high adoption of this procedures in endoscopy visualization system as they provide more clear image with advanced features as compared to low and mid-range EVS.
By disease Type, gastrointestinal tract is the leading segments and hold around 21.4% market revenue share in 2021.
There’s a high prevalence of gastrointestinal infectious diseases all over the world due to unhealthy lifestyles and malnutrition. Pain of such diseases is unbearable and physician preference for endoscopy to diagnose the related issues better and provide for effective treatment options. Hence, this segments is highest revenue generating segment.
According to reported data from the Center for Science in the Public Interest, in 2020, unhealthy diets contributed to approximately 678,000 deaths each year in the U.S.
By end user, hospitals segment lead the market with market share of 67.4% in 2021 owing to an increase in the use of endoscopic equipment in hospitals, rising government and private support in the healthcare industry, and increasing number of skilled healthcare professionals and technologically advanced services in medical institutions.
Additionally, most of patient prefer to go to hospital for diagnosis. As the treatment and diagnosis is easily available in hospital. Endoscopy visualization systems can be easily installed in hospitals and more walk in patient can by entertained for treatment. Thus this segment will witness significant growth in recent years.
The endoscopy visualization systems market is an extremely consolidated market, with major competitors such as Olympus Corporation, Pentax Medical Company (Hoya Corporation), Fujifilm Holding Corporation, Karl Storz GmbH & Co KG, Richard Wolf GmbH and Boston Scientific Corporation, Smith & Nephew, ConMed Corporation, Stryker Corporation, Terumo Corporation, DePuy Synthes (Johnson & Johnson Services, Inc. ) operating in every region of the globe. To attract more customers, major players are focusing on mergers and acquisition and launching novel products in order to boost their market position and expand their product portfolios.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2028 |
| Historical Data Available for | 2013 to 2021 |
| Market Analysis | USD Million for Value and Volume in Unit |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Argentina, Germany, UK, France, Spain, Russia, China, Japan, South Korea, India, Australia, New Zealand, GCC Countries, South Africa |
| Key Segments Covered | Product Type, Area End User and Region |
| Key Companies Profiled | Olympus Corporation; Pentax Medical Company (Hoya Corporation); Fujifilm Holding Corporation; Karl Storz GmbH & Co KG; Richard Wolf GmbH; Boston Scientific Corporation; Smith & Nephew; ConMed Corporation; Stryker Corporation; Terumo Corporation; DePuy Synthes (Johnson & Johnson Services, Inc.) |
| Report Coverage | Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The global endoscopy visualization systems market is worth USD 1.3 Billion in 2021 and is set to expand with CAGR of 7.2% over forecast period.
The market is expected to reach USD 2.2 Billion by the end of 2028.
The sales of endoscopy visualization systems market have grown at a CAGR of nearly 6.0% between 2013 and 2021.
Gastrointestinal Tract have huge growth opportunities for endoscopy visualization systems market and is expected to grow at a CAGR of nearly 8.0% between 2022 and 2028.
USA, Japan, China are the top 3 countries that are driving the demand.
1. Executive Summary 2. Market Introduction 3. Endoscopy Visualization Systems Market Opportunity Analysis 4. Market Background 5. Global Economic Outlook 6. Key Inclusions 7. North America Endoscopy Visualization Systems Market Analysis 2013 to 2021 and Forecast 2022 to 2028 8. Latin America Endoscopy Visualization Systems Market Analysis 2013 to 2021 and Forecast 2022 to 2028 9. Western Europe Endoscopy Visualization Systems Market Analysis 2013 to 2021 and Forecast 2022 to 2028 10. Eastern Europe Endoscopy Visualization Systems Market Analysis 2013 to 2021 and Forecast 2022 to 2028 11. Asia Pacific excluding Japan (APEJ) Endoscopy Visualization Systems Market Analysis 2013 to 2021 and Forecast 2022 to 2028 12. Japan Endoscopy Visualization Systems Market Analysis 2013 to 2021 and Forecast 2022 to 2028 13. MEA Endoscopy Visualization Systems Market Analysis 2013 to 2021 and Forecast 2022 to 2028 14. Forecast Factors: Relevance and Impact 15. Competition Analysis 15.1. Olympus Corporation 15.2. KARL STORZ GmbH & Co KG 15.3. Pentax Medical Company (Hoya Corporation) 15.4. Stryker Corporation 15.5. Fujifilm Holding Corporation 15.6. CONMED Corporation 15.7. Boston Scientific Corporation 15.8. Smith & Nephew PLC. 15.9. Richard Wolf GmbH 15.10. DePuy Synthes (Johnson & Johnson Services, Inc.) 16. Global Endoscopy Visualization Systems Market Analysis 2013 to 2021 and Forecast 2022 to 2028, By Region 16.1. North America 16.2. Western Europe 16.3. Eastern Europe 16.4. Latin America 16.5. Asia Pacific excluding Japan 16.6. Japan 16.7. Middle East and Africa 17. Global Endoscopy Visualization Systems Market Analysis 2013 to 2021 and Forecast 2022 to 2028, By Product 17.1. High-Range Endoscopy Visualization Systems 17.2. Mid-Range Endoscopy Visualization Systems 17.3. Low-Range Endoscopy Visualization Systems 18. Global Endoscopy Visualization Systems Market Analysis 2013 to 2021 and Forecast 2022 to 2028, By Areas 18.1. Gastrointestinal tract 18.2. Respiratory tract 18.3. Ear 18.4. Urinary tract 18.5. Female reproductive tract 18.6. Through a small incision 19. Global Endoscopy Visualization Systems Market Analysis 2013 to 2021 and Forecast 2022 to 2028, By End User 19.1. Hospital 19.2. Ambulatory Surgical Centers 19.3. Specialty Clinics 19.4. Diagnostic Imaging Centers 20. Global Market Analysis 2013 to 2021 and Forecast 2022 to 2028 21. Assumptions and Acronyms 22. Research Methodology
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Endoscopy Visualization Systems Market
