Global Endoscopic Imaging Systems Markets, 2022-2030 - Adoption of Artificial Intelligence in Endoscopic Procedures & Growing Adoption of Minimally Invasive Procedures
DUBLIN, Oct. 28, 2022 /PRNewswire/ -- The "Endoscopic Imaging Systems Market - A Global and Regional Analysis: Focus on Product Type, Regional Analysis, and Country-Wise Analysis - Analysis and Forecast, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global endoscopic imaging systems market was valued at $3,641.3 million in 2021, and it is expected to grow with a CAGR of 7.43% and reach $6,941.3 million by 2030
The growth in the global endoscopic imaging systems market is expected to be driven by the growing adoption of minimally invasive procedures, the improving clinical quality of the endoscopic procedures, and the increasing technology integration in endoscopic imaging systems.
Market Lifecycle Stage
The endoscopic imaging systems market is an established market and has witnessed significant advancements over the past few years. The increasing demand for minimally invasive procedures will propel advancements in endoscopy and improve its adoption among end users such as physicians.
The adoption of artificial intelligence (AI) in endoscopic procedures and the entry of local companies into the regional endoscopic imaging systems market are significant opportunities in the global endoscopic imaging systems market. Moreover, the increasing demand in developing regions is also an opportunity for market growth.
Impact of COVID-19
The COVID-19 pandemic was an unprecedented event in the global healthcare system. Healthcare systems in various economies collapsed, and technology integration skyrocketed. The endoscopic procedures were impacted similarly during the initial phase of the pandemic. Several non-emergency procedures were delayed or canceled to minimize infection risk during the early months of 2020.
Similar to other medical specialties, the adoption rate was also negatively impacted in endoscopic imaging systems. The limited demand for new devices, high costs of endoscopic imaging systems, and disrupted supply chain were the major factors that hampered the production and sales of endoscopic imaging systems, specifically during the peak pandemic in 2020.
Nonetheless, during the forecast period 2022-2030, the device adoption rate is projected to normalize to pre-COVID-19 levels. The allocation of funds for purchasing new devices and the pace of procurement decisions would be the key factors impacting the device adoption rates.
The recurring waves of the COVID-19 pandemic might have a damaging impact on the sales of the devices. However, considering the growing demand for minimally invasive procedures and accelerated recovery period, the need for endoscopic procedures across various medical specialties is projected to grow.
The global endoscopic imaging systems market in the application segment is expected to be dominated by the diagnostic endoscopic imaging systems segment during the forecast period 2022-2030.
Recent Developments in Global Endoscopic Imaging Systems Market
- In October 2021, Fujifilm Healthcare Americas Corporation established its new El-740D/S dual-channel endoscope, an FDA-approved dual-channel endoscope that can be applied in upper and lower gastrointestinal areas.
- In August 2021, Boston Scientific Corporation received the U.S. Food and Drug Administration (FDA) approval for its Exalt B single-use bronchoscope.
- In August 2021, KARL STORZ Endoscopy-America, Inc., a subsidiary of KARL STORZ SE & Co. KG, launched the newer version of the TELE PACK+ compact endoscopy system. After the update, the endoscopy system can be linked with StreamConnect for networking and data management.
- In July 2021, Fujifilm Medical Systems U.S.A., Inc. received the U.S. FDA approval for its ELUXEO Surgical System, an oxygen saturation endoscopic imaging system.
- In June 2021, HOYA Corporation's subsidiary PENTAX Medical established a joint venture partnership with Jiangsu Vedkang Medical Science and Technology to make single-use flexible medical endoscopic therapeutic products.
- In May 2021, Boston Scientific Corporation received CE mark approval for its Exalt B single-use bronchoscope.
- In April 2021, Olympus Corporation launched a new line of endoscopes known as the H-SteriScopes, including five new single-use bronchoscopes.
- In February 2021, Olympus Corporation acquired Quest Photonic Devices. Through this acquisition, the company broadened its offerings for endoscopy devices.
- In October 2020, Ambu A/S/ partnered with a prominent U.S. Group Purchasing Organization (GPO) to develop single-use endoscopes for various medical specialties.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
Some prominent players in this market are:
- Ambu A/S
- Arthrex, Inc.
- B. Braun Melsungen AG
- Boston Scientific Corporation
- CONMED Corporation
- Fujifilm Holdings Corporation
- HOYA Corporation
- Johnson & Johnson
- KARL STORZ SE & Co. KG
- Olympus Corporation
- Richard Wolf GmbH
- Smith & Nephew Plc
- SonoScape Medical Corp.
- Stryker Corporation
- Xion GmbH
Key Topics Covered:
1 Market Definition
1.1 Product Definition
1.2 Inclusion and Exclusion
1.3 Forecast Period Selection Criteria
1.4 Assumptions and Limitations
2 Global Endoscopic Imaging Systems Market
2.1 Market Size and Forecast
2.2 Key Findings
3 Industry Outlook
3.1 Regulatory Framework
3.2 Impact of COVID-19 on Global Endoscopic Imaging Systems Market
3.2.1 Impact on Facilities
3.2.2 Impact on Device Adoption
3.3 Patent Filing Trends
3.3.1 By Year
3.3.2 By Country
3.3.3 By CPC Codes
3.3.4 By Key Companies
3.4 Key Enabling Technologies (Innovation Outlook)
4 Market Dynamics
4.1 Impact Analysis
4.2 Business Drivers
4.2.1 Growing Adoption of Minimally Invasive Procedures
4.2.2 Improving Clinical Quality Standards of the Endoscopic Procedures
4.2.3 Growing Technology Integration in Endoscopic Imaging Systems
4.3 Business Restraints
4.3.1 Dearth of Skilled Professionals
4.3.2 Lack of Reimbursement System in Developing Countries
4.4 Business Opportunities
4.4.1 Adoption of Artificial Intelligence in Endoscopic Procedures
4.4.2 Entry of Local Companies in Regional Endoscopic Imaging Systems Market
4.5 Market Trends
5 Global Endoscopic Imaging Systems Market (by Application)
5.1 Opportunity Assessment
5.2 Growth-Share Matrix
5.3 Diagnostic Endoscopic Imaging Systems
5.3.1 Market Size and Forecast
5.3.2 Unit Sold
5.3.3 Installed Base
5.4 Therapeutic Endoscopic Imaging Systems
5.4.1 Market Size and Forecast
5.4.2 Unit Sold
5.4.3 Installed Base
6 Region
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