The global esophagoscopes and gastroscopes market currently stands at USD 1.2 billion and is predicted to exhibit a CAGR of 5.4%. The market is predicted to rake in revenue worth USD 2.0 billion by the end of 2033.
Esophagoscope and gastroscope sales currently account for an 8% share of the global endoscopes market. Increasing preference for minimally invasive procedures is expected to drive demand for laparoscopic instruments such as arthroscopes, bronchoscopes, laparoscopes, etc.
| Esophagoscopes and Gastroscopes Market Size (2023) | USD 1.2 Billion |
|---|---|
| Predicted Market Worth (2033) | USD 2.0 Billion |
| Global Market Growth Rate (2023 to 2033) | 5.4% CAGR |
| North America Market Share | 35% |
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Innovations in the medical sector have led to a rise in the application of mechanical instruments for treating and diagnosing esophageal ailments. Since the geriatric population is growing globally, esophageal cancer cases are rapidly rising.
The utility of esophagoscopes for various diagnostic and surgical processes is aiding the market growth. The recent increase in global inflammatory bowel disease cases has shifted market trends. This has propelled the need for wide application devices for early disease detection. Such factors cohesively foster the fruitful application of advanced esophagoscopes and gastroscopes in the healthcare sector.
Despite the steadily improving market prospects, there are factors such as the risk of infection from contamination, anesthesia-induced allergic reactions, and organ perforation risks. These factors are expected to hinder the market growth during the forecast period. Key players need to focus on developing variants that are more efficient and pose fewer side effects.
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Currently, the advanced endoscopes available in the market are expensive. This can be attributed to the use of specialized components in their manufacturing processes. Hence, there is a need to develop a cheaper alternative for the sophisticated components of these advanced models. This would open the market to a larger consumer segment, triggering steady revenue increment.
| Particulars | Details |
|---|---|
| H1, 2022 | 5.35% |
| H1, 2023 Projected | 5.55% |
| H1, 2023 Outlook | 4.65% |
| BPS Change - H1, 2023 (O) - H1, 2023 (P) | (-) 90 ↓ |
| BPS Change - H1, 2023 (O) - H1, 2022 | (-) 70 ↓ |
The global esophagoscopes & gastroscopes market is inclined by the rising prevalence of gastrointestinal diseases and growing preference for minimally invasive procedures. Macroeconomic, regulatory, and industrial variables all have an impact on market growth. The launch of innovative products by key manufacturers for better performance is a key market development factor.
The esophagoscopes & gastroscopes market is projected to decrease by 70 Basis Share Points (BPS) in H1-2023 when compared to H1-2022, according to the FMI study. Moreover, analysis of the H1-2023 outlook and H1- 2022 projected period estimated growth rate indicated a falling variation in the BPS value by 90 BPS.
The dip in the BPS value for the esophagoscopes & gastroscopes market is majorly attributed to a decline in the volume of endoscopic procedures during the past few years.
Other market segments, on the other hand, are likely to perform well and accomplish beneficial growth projections in the next few years of the forecast years. This is due to the development of innovative products such as video gastroscopes and dual-channel endoscopes.
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The incidence of gastrointestinal diseases has risen substantially over the past few years, and this has majorly influenced the sales of esophagoscopes and gastroscopes. As a result, demand for esophagoscopes and gastroscope equipment rose at 4.9% CAGR from 2017 to 2022, with sales revenue in 2022 reaching USD 1.1 billion.
The market is expected to register a higher CAGR between 2023 and 2033, owing to key market drivers.
Short Term (2023 to 2026): The sales of bronchoscopes and arthroscopes are anticipated to rise during the initial phase. This can be attributed to the recent rise in the popularity of laparoscopic surgeries and procedures. In addition, the steadily expanding investment into healthcare infrastructure and rising purchase power are also positively impacting market prospects.
Medium Term (2026 to 2029): The heavy investments into the healthcare infrastructure during the initial phases could yield mid-term results. As a result of the expanding healthcare amenities, product adoption could reach new heights during this phase. In addition, long-term government investments into healthcare could hasten product adoption in public healthcare systems.
Owing to an increase in demand for pet care, sales of veterinary gastroscopes are also expected to see a rise in this phase. In addition, the increasing prevalence of obesity, bad lifestyle choices, improper diet, rising preference for minimally invasive procedures, etc., are some additional factors that guide the market potential.
Long Term (2029 to 2033): Towards the end of the forecast period, the esophagoscope and gastroscope manufacturing, assembling, and operating technologies could rapidly transform. The advancement of technology coupled with product innovations could ultimately transform the market outlook. During this phase, the market could attract a wider consumer base. This can be attributed to factors such as efficient and precise early disease detection. Further, harnessing the capabilities of robotics, machine learning, and Artificial Intelligence is anticipated to bolster the market.
During the current forecast period, the market is expected to grow at a CAGR of 5.4%.
Veterinary Gastrocopes and Pediatric Gastroscopes to See Rising Sales in North America
FMI research details the global esophagoscopes and gastroscopes industry landscape in regions such as North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa (MEA).
The North American esophagoscopes and gastroscopes market is currently dominating the global landscape while accounting for 33.4% of global esophagoscopes and gastroscope sales. Developed healthcare infrastructure and wide availability of treatment procedures create a lucrative setting for the sales of laparoscopes, arthroscopes, and other laparoscopic instruments in North America.
Sales of esophagoscopes and gastroscopes in Latin America are likely to account for 7.6% of the global revenue in 2023. Demand in this region is majorly driven by developing healthcare systems of emerging economies.
European Market Rises in Prominence Due to Rise in Geriatric Population & Veterinary Diagnoses
Increasing geriatric population and rising prevalence of gastrointestinal diseases in Europe are expected to drive esophagoscope and gastroscope consumption at a good pace over the forecast period. The Europe esophagoscopes and gastroscopes industry currently hold a market share of 27.2% in the global marketplace.
Increasing pet health awareness and veterinary care in Europe is also expected to propel the demand for veterinary gastroscopes over the coming years.
| Region | North America |
|---|---|
| Country | United States of America |
| CAGR | 5.8% |
| Market Value (2033) | USD 648.5 Million |
| Region | Europe |
|---|---|
| Country | United Kingdom |
| CAGR | 4.3% |
| Market Value (2033) | USD 85.0 Million |
| Region | Asia Pacific |
|---|---|
| Country | China |
| CAGR | 7.3% |
| Market Value (2033) | USD 240.8 Million |
| Region | Asia Pacific |
|---|---|
| Country | India |
| CAGR | 6.20% |
| Market Value (2033) | USD 92.2 Million |
| Region | Asia Pacific |
|---|---|
| Country | Japan |
| CAGR | 4.50% |
| Market Value (2033) | USD 113.4 Million |
Increasing Obesity to Drive Sales of Laparoscopic Instruments in the USA
The USA has seen a substantial increase in the incidence of gastrointestinal diseases. This is expected to rise further as the prevalence of obesity increases in the USA over the forecast period. The USA has seen an increase in cases of stomach cancer, gastrointestinal bleeding, and functional gastrointestinal diseases. This has subsequently increased the number of endoscopies performed in the nation.
Poor lifestyle choices, bad eating habits, and smoking are some of the major factors driving the esophagoscopes and gastroscopes market in the USA. Instruments like laparoscopes, arthroscopes, bronchoscopes, gastroscopes, etc., are expected to see an increase in sales over the forecast period.
Increasing pet care awareness is also expected to drive sales of veterinary gastroscopes in the USA. During the forecast period, the USA market is expected to register a CAGR of 5.8%. The market is anticipated to record a revenue of USD 648.5 million by 2033.
Demand for Pediatric Gastroscopes and Veterinary Gastroscopes Soar
Being the second most populated nation in the world makes India an extremely lucrative market for pediatric products and pediatric care. The nation has a high birth rate, and hence the need for pediatric products is also high. The aforementioned factors are anticipated to drive the sales of pediatric gastroscopes in India over the next few years.
India also sees an increase in pet ownership and pet adoption. There is also rising pet care awareness which has created a booming demand for veterinary gastroscopes.
The rapidly developing healthcare infrastructure is majorly expected to guide the demand for esophagoscopes and gastroscope systems in India. During the forecast period, the Indian market is expected to register a CAGR of 6.2%.
Disposable Gastroscopes to See Major Upshift in Demand Due to Ease of Operation
Flexible endoscopes are gaining popularity for their increasing scope of application for multiple diagnostic and treatment procedures. Compared to rigid endoscopes, flexible endoscopes are easier to operate in complex diagnostic and treatment procedures. Single-use gastroscopes and disposable gastroscopes have seen a hike in demand as awareness about hospital-acquired infections increases all over the world.
Increasing focus on medical waste concerns is expected to hamper the adoption of single-use gastroscopes and disposable gastroscopes. However, this is anticipated to be solved by the manufacturers launching sustainable and eco-friendly products.
Hospitals Emerge as the Top End-user Segment, Fueled by Innovations & Investment
Currently, medical device manufacturers are keen on gaining clearance from competent authorities for their gastroscopes and esophagoscopes. With technological innovations, medical device manufacturers can develop advanced variants for the healthcare segment. As a result, hospitals are increasingly adopting advanced esophagoscopes & gastroscopes for diagnosis and treatment. Owing to these factors, this segment has emerged as the top end-user between 2023 and 2033. The hospital end-user segment is expected to register a CAGR of 5.2% during the forecast period.
The esophagoscopes and gastroscopes industry is a highly consolidated marketplace with select players leading and dominating the market. New esophagoscopes and gastroscope vendors will have to come up with innovative products to penetrate the market. Hence, startups might have to embrace untapped technologies to capture consumer interest.
Leading Startups to Lookout For
| Start-up Company | EndoChoice |
|---|---|
| Country | United States |
| Description | EndoChoice, an Atlanta-based healthcare startup, is known for its launch of a gastroscope that offers a wider field of view for the physician. |
| Start-up Company | Ankon Technologies |
|---|---|
| Country | China |
| Description | Ankon Technologies have come up with a revolutionary, innovative, and gastrointestinal capsule that offers an endoscopic robotic system. It is known as the Ankon NaviCam® gastroscope capsule and has the State Food and Drug Administration's Class III for medical clearance. |
| Company | PENTAX Medical |
|---|---|
| Details | PENTAX Medical primarily manufactured highly advanced, innovative endoscopic products and services for healthcare providers |
| Recent Developments | In September 2020, PENTAX Medical, a healthcare leader in therapeutic endoscopy, announced the launch of new video gastroscopes. The new line of J10 Series Ultrasound Video Gastroscopes comes with an ergonomic design and enhanced maneuverability as a EUS (endoscopic ultrasound) solution. The new line also has increased linear scope scan and increased frequency capabilities for better performance. |
| Company | FUJIFILM Healthcare Americas Corporation |
|---|---|
| Details | FUJIFILM Healthcare Americas Corporation is a global pioneer in advanced diagnostic solutions that meet the demand of the evolving healthcare system |
| Recent Developments | In October 2021, FUJIFILM Healthcare Americas Corporation, a renowned name in the endoscopic imaging industry, announced the launch of its new endoscope - Fujifilm's EI-740D/S, which is a new dual-channel endoscope that is the first dual-channel endoscope to be approved by the USA FDA for upper as well as lower gastrointestinal diagnostics and treatment. |
| Company | Ambu A/S |
|---|---|
| Details | Ambu or Ambu A/S is a Danish company known for developing single-use diagnostic, life-supporting as well as endoscopy solutions, catering to various end users. |
| Recent Developments | In February 2022, Ambu A/S sought clearance for their latest gastroscope variant from FDA. |
The global esophagoscopes and gastroscopes market is slated to progress at a CAGR of 5.4% from 2023 to 2033.
Global sales of esophagoscopes and gastroscopes are estimated to attain a valuation of USD 2.0 billion by 2033.
In 2023, the global esophagoscopes and gastroscopes market is set to be valued at USD 1.2 billion.
The North American esophagoscopes and gastroscopes market holds a dominant share of 35% in the global market.
Tier-1 manufacturers of esophagoscopes and gastroscopes are Olympus Corporation and Pentax Medical Company.
By end-user, the hospital segment currently dominated the market. By, product type, the flexible endoscope segment dominates the market at a CAGR of 5.0% predicted between 2023 and 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Rigid Endoscope 5.2. Flexible Endoscope 6. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By End User 6.1. Hospitals 6.2. Ambulatory Surgical Centers 6.3. Specialty Clinics 6.4. Diagnostic Centers 7. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. MEA 8. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 10. Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 11. Asia Pacific Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 12. MEA Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. Shanghai AoHua Photoelectricity Endoscope Co. Ltd. 15.2. Olympus Corporation 15.3. Pentax Medical Company 15.4. Fujifilm Holdings Corp. 15.5. Karl Storz GmbH & Co. KG 15.6. PerkinElmer Inc 15.7. Richard Wolf GmbH 15.8. Zhejiang Shendasiao Medical Instrument Co., Ltd. 15.9. Aohua Endoscopy Co., Ltd. 15.10. Maxer Endoscopy GmbH 16. Assumptions & Acronyms Used 17. Research Methodology
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Esophagoscopes & Gastroscopes Market
