Endoscopy Market revenue to hit USD 63.1 billion by 2030, says Global Market Insights Inc.

Some of the major market players operating in the endoscopy industry are Olympus Corporation, Boston Scientific Corporation, Intuitive Surgical, Inc., Stryker Corporation, Medtronic plc, and B Braun Melsungen AG, Fujifilm Corporation, Conmed Corporation, and Ethicon US.

SELBYVILLE, Del., July 18, 2022 /PRNewswire/ -- The endoscopy market value is expected to reach USD 63.1 billion by 2030, according to a new research report by Global Market Insights Inc.

Technological advancements assist in early detection and diagnosis, high imaging systems, precise and effective surgical procedures, etc. to limit certain redundant drawbacks that occur during endoscopy processes. Recent innovative technologies include CT colonography, it is a virtual colonoscopy device that inherits and uses X-ray technology and CT scan attached with computer software to obtain images of the stomach including the colon (large intestine) and intra-abdominal organs. This device helps to detect and obtain images of the stomach cancer along with other diseases in the intestine.

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Insufflator segment surpassed USD 1.3 billion in 2021. This is owing to technological advancements in insufflators used for several surgical procedures. These devices are intended to transport CO₂ to the abdomen and distend the working area as well as allow better access to anatomy and use of surgical tools. Endoscopic insufflators are utilized mainly for laparoscopic surgeries that include hernia surgery, appendectomy, colon surgery, etc.

Some major findings of the endoscopy market report include:

• Growing prevalence of chronic diseases along with demand for minimally invasive surgeries will drive the market expansion.
• Technological advancements along with innovative endoscopy devices will propel the market trends.
• Increasing geriatric population across several countries worldwide is set to increase the demand for endoscopy procedures.
• Competitors are focusing on strategic product launches, partnerships, and geographical expansion to gain significant revenue share and cater to larger customer base.

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 

Endoscopy market from arthroscopy segment exceeded USD 5.1 billion in 2021. Arthroscopy is majorly attributed to diagnosis and treatment of joints through minimally invasive surgeries. The most common arthroscopy surgery is generally done for shoulder and knee due to osteoarthritis or injury that limits the range of motion of joints and causes instability. Thus, owing to the afore-mentioned factors, the arthroscopy surgical approach is being increasingly used in joint surgeries that is anticipated to promote the market growth.

Hospitals segment crossed USD 17.5 Billion in 2021. This is attributed to the availability of highly skilled surgeons, nurses and other healthcare professionals that emphasize on delivering quality patient management in various chronic gastrointestinal disorders and other diseases have augmented the productivity in hospitals. Hospitals are well equipped with advanced diagnostic and therapeutic instruments such as an endoscope. Additionally, the increase in healthcare expenditure over the years have added to the better infrastructure a hospital setting has to offer.

China endoscopy market was valued at more than USD 2.2 billion in 2021 and is projected to grow at a CAGR of 9.1% through 2030. The rising popularity of minimally invasive procedures and the high incidence of chronic gastrointestinal diseases with the rapidly aging population is augmenting the demand for endoscopy in China. The geriatric population is at a greater susceptibility to the chronic diseases and thus, the adoption of endoscopic intervention is higher among the older patients. Moreover, the disease burden of GI diseases and cancer has added to the increased endoscopic procedures in the country.

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Some of the major market players operating in the endoscopy market are Olympus Corporation, Boston Scientific Corporation, Stryker Corporation, Medtronic plc, B Braun Melsungen AG, Fujifilm Corporation, Intuitive Surgical, Inc., and Ethicon US. These players are engaged in implementing numerous strategic initiatives such as collaborations, product launches, research activities to expand their product portfolio and market presence.

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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SOURCE Global Market Insights Inc.