Global Endoscopy Market Worth $60 Billion by 2028

High Prevalence of Chronic Diseases, Growing Population Drive Market

The global endoscopy market is projected to reach $60.2 billion by 2028, according to a new report by MarketWatch. The market is expected to grow at a compound annual growth rate (CAGR) of 9.4% from 2023 to 2028.

The growth of the endoscopy market is being driven by a number of factors, including the high prevalence of chronic diseases, the growing population, and the increasing demand for minimally invasive procedures.

Chronic Diseases

Chronic diseases such as cancer, gastrointestinal disorders, and cardiovascular diseases are major drivers of the endoscopy market. Endoscopy is a key diagnostic and therapeutic tool for these diseases, and the growing prevalence of these diseases is expected to boost the demand for endoscopy procedures.

Aging Population

The global population is aging, and as people age, they are more likely to develop chronic diseases. This is expected to further increase the demand for endoscopy procedures.

Minimally Invasive Procedures

Endoscopy is a minimally invasive procedure, which means that it is less traumatic for patients than traditional open surgery. This is making endoscopy a more attractive option for patients and physicians.

Product Insights

The endoscopy market is segmented into three main product types: endoscopes, endoscopy accessories, and endoscopy equipment. Endoscopes are the most valuable segment of the market, accounting for over 60% of the total market share.

Endoscopes are thin, flexible tubes that are inserted into the body to visualize the internal organs. They are used for a variety of diagnostic and therapeutic procedures, including colonoscopies, gastroscopies, and laparoscopies.

Endoscopy accessories include a variety of devices that are used with endoscopes, such as biopsy forceps, snares, and retrieval baskets. Endoscopy equipment includes the machines that are used to power and control endoscopes.

Application Insights

The endoscopy market is segmented into five main application areas: gastroenterology, urology, pulmonology, gynecology, and orthopedics. Gastroenterology is the largest application area, accounting for over 50% of the total market share.

Gastroenterology endoscopy procedures are used to diagnose and treat diseases of the digestive system, such as colon cancer, stomach cancer, and inflammatory bowel disease.

Urology endoscopy procedures are used to diagnose and treat diseases of the urinary system, such as prostate cancer, bladder cancer, and kidney stones.

Pulmonology endoscopy procedures are used to diagnose and treat diseases of the respiratory system, such as lung cancer, asthma, and chronic obstructive pulmonary disease (COPD).

Gynecology endoscopy procedures are used to diagnose and treat diseases of the female reproductive system, such as cervical cancer, uterine fibroids, and endometriosis.

Orthopedics endoscopy procedures are used to diagnose and treat diseases of the musculoskeletal system, such as arthritis, sports injuries, and fractures.

End-User Insights

The endoscopy market is segmented into three main end-user groups: hospitals, ambulatory surgery centers, and clinics. Hospitals are the largest end-user group, accounting for over 60% of the total market share.

Hospitals have the most advanced endoscopy equipment and the most experienced endoscopists. They are also able to offer a wider range of endoscopy procedures than other end-user groups.

Ambulatory surgery centers are becoming increasingly popular for endoscopy procedures. These centers offer a more convenient and less expensive option than hospitals.

Clinics are also used for endoscopy procedures, but they typically offer a more limited range of procedures than hospitals and ambulatory surgery centers.

Regional Insights

The endoscopy market is segmented into four main regions: North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is the largest regional market, accounting for over 40% of the total market share.

The high prevalence of chronic diseases in North America is a major driver of the endoscopy market. The region also has a well-developed healthcare system with a large number of hospitals and ambulatory surgery centers.

Europe is the second largest regional market for endoscopy. The market in Europe is expected to grow at a CAGR of 8.5% from 2023 to 2028.

The Asia-Pacific region is the fastest growing regional market for endoscopy. The market in Asia-Pacific is expected to grow at a CAGR of 10.2% from 2023 to 2028.

The Rest of the World region includes Latin America, the Middle East, and Africa. The market in the RoW region is expected to grow at a CAGR of 9.0% from 2023 to 2028.