The global flexible endoscopes market is forecasted to expand at 6.4% CAGR to reach a market valuation of USD 16.73 Billion by the end of 2033, up from USD 8.44 Billion that was recorded for 2022.
The market growth is expected to be greatly driven by the increased demand for flexible endoscopes required for gastrointestinal examinations
| Attribute | Details |
|---|---|
| Flexible Endoscopes Market Size (2023) | USD 8.98 Billion |
| Forecasted Market Value (2033) | USD 16.73 Billion |
| Value CAGR (2023 to 2033) | 6.4% |
| Collective Value Share: Top 5 Countries (2022) | 58.1% |
| Key Market Players | Becton; Dickinson and Company; Boston Scientific Corporation; Cooper Surgical; Endomed Systems; Fujifilm Corporation; Hoya Corporation; Karl Storz; Laborie Medical Technologies; Olympus Corporation; Richard Wolf GmbH; Stryker Corporation; Smith & Nephew, Inc.; Pentax Medical; Ambu, Inc.; Machida Endoscope Co. |
Around the world, the overall standard of living has improved, leading to an increase in expenditure on medical services and infrastructure. Due to the extensive spread of chronic diseases, people are now more aware of the value of routine check-ups and the need to be diagnosed for the presence of any disease.
Flexible endoscopes have become a useful tool for inspecting gastrointestinal tracts that may be showing signs of an illness. The global market in developed economies is being driven by the growing popularity of this method of diagnosis, particularly among the geriatric population of such countries.
The newly developed flexible endoscopy techniques, which are predicted to raise the adoption rate of the flexible endoscopes, provide a better vision of a wider area of the colon with higher patient comfort than the other endoscopic techniques used at numerous hospitals and clinics.
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The market for flexible endoscopes expanded at a CAGR of 5.8% during the historic period (2015 to 2022) and reached a market value of USD 8.44 Billion in 2022.
Flexible endoscopes market contributes 60.9% value share to the global endoscopes market valued at USD 13.8 Billion in 2022.
Increased prevalence of chronic diseases that affect the internal body systems, the advantages of flexible microscopes over other products, and increased need for early diagnosis of chronic diseases are the main factors driving the growth of the market. Endoscopes must be used extensively for diagnostic purposes when treating a number of chronic disorders, including stomach cancer, colon cancer, inflammatory bowel diseases (IBD) and respiratory infections. The increasing prevalence of these disorders is thus, driving up demand for flexible endoscopes.
For instance, According to the North American Association of Central Cancer Registries, the USA had around 1,918,030 new cases of cancer and 609,360 cancer-related deaths in 2022. Lung cancer was the largest cause of cancer death, and was responsible for almost 350 of those deaths everyday. Owing to increasing prevalence of lung cancer worldwide, the market is expected to experience significant growth over the forecast years. Additionally, according to the American College of Gastroenterology, 10-15% of adults in the USA are believed to experience symptoms of irritable bowel syndrome.
The market is growing as a result of the increase in adoption driven by flexible endoscopes' advantages over other endoscopes. For instance, the ability of the surgeon to control the endoscope's lens to change direction and broaden its range of use is the most favorable aspect of flexible endoscopes.
| Market Statistics | Details |
|---|---|
| Jan to Jun (H1), 2021 (A) | 4.97% |
| Jul to Dec (H2), 2021 (A) | 6.76% |
| Jan to Jun (H1),2022 Projected (P) | 4.77% |
| Jan to Jun (H1),2022 Outlook (O) | 4.98% |
| Jul to Dec (H2), 2022 Outlook (O) | 7.28% |
| Jul to Dec (H2), 2022 Projected (P) | 6.62% |
| Jan to Jun (H1), 2023 Projected (P) | 5.19% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | 21↑ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | 01↑ |
| BPS Change: H2, 2022 (O) - H2, 2022 (P) | 66↑ |
| BPS Change: H2, 2022 (O) - H2, 2021 (A) | 52↑ |
One of the main challenges the flexible endoscopes market is facing is the lack of skilled professionals, such as endoscopists, in developing nations. Resources for healthcare in developing and emerging countries are insufficient to ensure that everyone has equal access to essential medical care. Because of a lack of clinical personnel with the necessary training, healthcare facilities are inferior. Additionally, the high cost of flexible endoscopes is impeding the market.
On the other hand, viral infections pose another major threat to the growth of endoscopes market. Viral infections can be spread during an endoscopy procedure by respiratory droplets, person-to-person contact, or other means including endoscopic-related aerosolization of infectious materials and contact with bodily fluids, contaminated endoscopy equipment, and related incidents. Daily endoscopy procedures expose the medical staff and endoscopists to numerous gastrointestinal, oropharyngeal, and respiratory infections. This factor can limit the market growth as it could reduce the number surgeries performed on daily basis due to the unavailability of the staff.
In many chronic disease conditions, many medical professionals advise early stage diagnosis, which has increased demand for flexible endoscopes with light. These devices enable invasive procedures easier for the medical practitioners to perform while also making the treatment less painful for the patients. The need for flexible endoscopes will increase as a result of hospitals and medical facilities investing heavily in the setup of flexible endoscope cameras using smartphone technology.
Veterinary flexible endoscopes have become increasingly popular among veterinarians in the field of animal care as animal husbandry commercialization and pet ownership have increased, especially in developed nations.
The demand for minimally invasive procedures has also increased in the past decade because these procedures employ methods that reduce the number and size of cuts or incisions performed on the body. Additionally, endoscopies are minimally invasive medical procedures that enter the body through openings. Endoscopies have thus been widely used for diagnostic purposes around the world. This causes the need for flexible endoscopes to soar, which in turn fuels the expansion of the market under study offering lucrative opportunities to the market players.
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| Country | The USA |
|---|---|
| Market Share (2023) | 33.8% |
| Market Share (2033) | 34.3% |
| BPS Analysis | 52 |
| Country | Germany |
|---|---|
| Market Share (2023) | 7.4% |
| Market Share (2033) | 7.2% |
| BPS Analysis | -19 |
| Country | China |
|---|---|
| Market Share (2023) | 7.0% |
| Market Share (2033) | 8.3% |
| BPS Analysis | 132 |
| Country | The United Kingdom |
|---|---|
| Market Share (2023) | 5.6% |
| Market Share (2033) | 5.8% |
| BPS Analysis | 17 |
| Country | Japan |
|---|---|
| Market Share (2023) | 4.5% |
| Market Share (2033) | 4.2% |
| BPS Analysis | -27 |
The United States is set to hold a share of around 33.0% of the global market in 2023.
The market is expected to be dominated by USA throughout the projected timeframe. This is a result of the rise in chronic diseases that call for the usage of flexible endoscopes. For instance, disorders like stomach cancer, colon cancer, irritable bowel syndrome, and others are quite prevalent in the in the nation due to rapid increase of sedentary lifestyles.
Wide availability of advanced flexible endoscopes and product launches are further factors influencing the growth of the USA market in the nation.
Germany is set to hold a share of 7.4% of the global market in 2023.
In Germany, the use of flexible endoscopes has expanded due to a growing inclination to reduce infection risk and maximize better therapeutic outcomes. Additionally, the diagnosis rate has increased over recent year due to the rising prevalence of gastrointestinal disorders and various other chronic diseases like diabetes, cancer, and cardiovascular disorders, this is expected to support the market's growth.
China is set to hold a share of 7.0% of the global market in 2023.
According to a study published in the journal Frontiers in Public Health, 2022, gastrointestinal (GI) cancers continue to be a major public health issue in China. According to the same report, stomach cancer continues to be the most serious GI condition in China. Additionally, the incidence of gallbladder and bile duct tumors, as well as incidences of stomach, pancreas, colon, and rectum cancer, had increased in China. Due to prevalence of such conditions, it is expected that the market in china will flourish at a significant rate over the forecast period.
Colonoscopes are expected to hold a global market share of 22.7% in 2023.
In comparison to other stool-based screenings like FIT-DNA and fecal occult blood tests, colonoscopy is more accurate and shows fewer false positives. As a result, medical professionals are highly utilizing colonoscopies for diagnosis of gut related conditions. The primary advantage of having a colonoscopy is that it aids in the early detection of cancer and enables your doctor to remove polyps that may eventually develop into cancer. According to the National Cancer Institute, colorectal cancer is the third most frequent type of cancer in both men and women in the USA.
Based on application, gastrointestinal (GI) endoscopy segment is expected to be the most lucrative at the end of 2023 by holding significant share of the global market of about 32.3%.
Significant factors driving the segment's growth include increasing rate of upper gastrointestinal procedures performed, which will further create high demands for flexible endoscopes, along with an increase in the usage of flexible endoscopes for the diagnosis and treatment of gastrointestinal diseases, which boosts up a sizeable increase in the market share.
As per end users, the hospitals segment is set to hold 62.2% revenue share in 2023.
Since flexible endoscope intubation must be done by healthcare professionals affiliated with hospitals or other medical facilities, hospitals are the key end users of flexible endoscopes. Patients prefer care and treatment at hospitals because of the better facilities and supervision. The success rate of flexible endoscopes used at this end-user segment will rise due to the rising patient preference and vast patient pool.
The flexible endoscopes market is a fragmented market with a large number of manufacturers functioning in it. Manufacturers are focusing on acquisitions, collaborations, and product certifications to expand their product portfolios and increase sales across the globe.
Recent Market Developments
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2015 to 2022 |
| Market Analysis | USD Million for Value, Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; Asia-Pacific excluding Japan; and the Middle East & Africa |
| Key Countries Covered | The USA, Canada, Brazil, Mexico, Argentina, United kingdom, Germany, Italy, Russia, Spain, France, BENELUX, India, Thailand, Indonesia, Malaysia, Japan, China, South Korea, Australia, New Zealand, Türkiye, GCC Countries, North Africa, and South Africa |
| Key Market Segments Covered | Product, application, end user, and region |
| Key Companies Profiled | Becton, Dickinson and Company; Boston Scientific Corporation; Cooper Surgical; Endomed Systems; Fujifilm Corporation; Hoya Corporation; Karl Storz; Laborie Medical Technologies; Olympus Corporation; Richard Wolf GmbH; Stryker Corporation; Smith & Nephew, Inc.; Pentax Medical; Ambu, Inc.; Machida Endoscope Co. |
| Report Coverage | Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Pricing | Available upon Request |
In 2022, the global flexible endoscopes market was valued at USD 8.44 Billion.
The market for flexible endoscopes is anticipated to reach USD 8.98 Billion in 2023.
Demand for flexible endoscopes is expected to reach USD 16.73 Billion by the end of 2033.
Revenue from flexible endoscopes increased at 5.8% CAGR over the last 7 years between 2015 and 2022.
The flexible endoscopes market is projected to expand between 2023 and 2033 at a CAGR of 6.4%.
Hospital segment is expected to garner a significant value share by 2023.
Boston Scientific Corporation, Becton, Dickinson and Company, Olympus corporation and Fujifilm Corporation, and others are top flexible endoscopes providers.
As per this FMI analysis, the market in India is projected to expand at a CAGR of 8.2% from 2023 to 2033.
The USA. is set to account for around 33.0% share of the global market in 2023.
The USA, Germany, the United kingdom, China and Japan are the top five countries in the global market holding about 58.1% market share at the end of 2022.
| Estimated Market Size (2025E) | USD 2.68 billion |
|---|---|
| Projected Market Value (2035F) | USD 4.94 billion |
| Value-based CAGR (2025 to 2035) | 7.3% |
| Market CAGR (2023 to 2033) | 17.7% |
|---|---|
| Market Valuation (2023) | USD 1.3 billion |
| Market Valuation (2033) | USD 6.8 billion |
| Market Value in 2022 | USD 169.2 Million |
|---|---|
| Market Value in 2032 | USD 307.9 Million |
| Market CAGR (2022 to 2032) | 5.6% |
| Market Value 2022 | USD 1.4 Billion |
|---|---|
| Forecasted Global Market Value (2028) | USD 2.2 Billion |
| Market Growth Rate 2022 to 2028 | 7.2% |
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Flexible Endoscopes Market
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