Endoscopy Equipment market in terms of revenue was estimated to be worth $32.3 billion in 2024 and is poised to reach $46.2 billion by 2029, growing at a CAGR of 7.4% from 2024 to 2029 according to a latest report published by MarketsandMarkets™.
The global endoscopy equipment market is experiencing substantial growth due to many driving factors, including surging requirement for endoscopy to diagnose and treat target diseases, increasing investments, funds, and grants by governments and other organizations worldwide, growing focus of hospitals to invest in technology advanced endoscopy instruments and expand endoscopy units, ongoing advancements in endoscopic technologies to ensure patient safety and achieve more accurate treatments, rising incidence of IBD and CRC that require endoscopy procedures. Drivers such as Increasing preference for minimally invasive surgeries, adoption of single-use endoscopy instruments to prevent infectious diseases and offer increased efficiency and safety, and rising focus of medical specialities to shift from manual to automated endoscopy reprocessing are also contributing towards the overall growth of the global endoscopy equipment market.
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In this report, the endoscopy equipment market is segmented into product type, application type, end user, and region.Based on product type, the endoscopy equipment market is divided into endoscopes, visualization systems, other endoscopy equipment, and accessories. As of 2023, the accessories segment accounted the third largest share in the global endoscopy equipment market. The market share can be attributed to the factors that there are a side variety of accessories designed for specific procedures and functionalities and they are compatible with various models from the manufacturers.
Based on the type of applications, the endoscopy equipment market includes segments such as gastrointestinal endoscopy, laparoscopy, arthroscopy, obstetrics/gynaecology endoscopy, urology endoscopy, bronchoscopy, mediastinoscopy, ENT endoscopy, and other specialized applications. Among these, the arthroscopy segment accounted the fourth largest share of the overall endoscopy equipment market in 2023. This dominance is primarily attributed to demographic shifts, particularly the aging population in key regions like the US, China, Japan, and India. Additionally, the increased prevalence of joint injuries like ligament tears, meniscus damage, and rotator cuff injuries among younger adults has heightened awareness about the importance of arthroscopy, contributing to the segment’s significant growth rate.
Based on end users, the endoscopy equipment market is segmented into hospitals, ambulatory surgery centers/clinics and other end user. The other end user segment accounted for the third largest share in the endoscopy equipment market in 2023. This dominance can be attributed to several driving factors. Diagnostic Laboratories, Research Institutions has nowadays started to implement new technologies and advanced procedures. Additionally, the increasing prevalence of complex medical conditions requiring diagnostic endoscopic procedures further amplifies the demand for such equipment within diagnostic centers, solidifying their position in this market.
Based on the regions, in 2023, North America emerged as the dominant region in the endoscopy equipment market, followed by Europe, APAC, Latin America and Middle East and Africa. This leadership position is owed to substantial investments made by hospitals towards procuring advanced endoscopic equipment, coupled with a strong emphasis on research aimed at refining endoscopy techniques. Additionally, favorable reimbursement policies for endoscopic procedures in the US and the adoption of innovative funding models by hospitals in Canada further bolstered the region’s prominence.
Meanwhile, in the Asia Pacific market, particularly in China and India, a higher compound annual growth rate (CAGR) is anticipated throughout the forecast period. This growth trajectory is underpinned by various factors including escalating demand for minimally invasive surgical procedures, rising healthcare expenditure, the proliferation of hospitals, an expanding patient population, continuous improvements in healthcare infrastructure, and supportive government policies promoting the use of single-use endoscopy devices. Notably, leading market players are strategically focusing on launching new products and enhancing existing ones to fortify their product portfolios and expand their distribution networks.
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Endoscopy Equipment market major players covered in the report, such as:
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The research report categorizes the endoscopy equipment market into the following segments:
Endoscopy Equipment Market, By Product
Endoscopy Equipment Market, By Application
Endoscopy Equipment Market, By End User
Endoscopy Equipment Market, by region
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