This report from Life Science Intelligence provides the latest market data for the Global Endoscopy Devices Market. Information covered by this report includes:
The global market for endoscopy devices was valued at an estimated $17.6 billion in 2020 and is projected to increase at a CAGR (2020-2024) of 10.9%. Product segments covered by this report include endoscopy instruments and endoscopes.
This report covers the impact of COVID-19 on the endoscopy devices market, including a recent forecast from 2020 to 2024. COVID-19 has also impacted leading competitors, such as Karl Storz, Boston Scientific, Olympus, Intuitive Surgical, and others. The report provides insights into trends, drivers, and limiters of the endoscopy devices market, as well as highlights potential opportunities.
The last two decades have seen a major shift from open surgery to minimally invasive endoscopic procedures. The advancements in camera technology, illumination, and scope design have made endoscopic techniques easy to adopt, led to excellent clinical outcomes and faster patient recovery. Endoscopy is broadly classified as flexible, rigid, robotic and pill endoscopy based on the type of device/equipment deployed. Endoscopy devices are used for diagnostic as well as therapeutic procedures.
The endoscopy devices market was negatively impacted by the COVID-19 pandemic. The pandemic has affected elective surgical procedures markedly, as many non-critical procedures have been cancelled or postponed so that healthcare resources have been conserved for the treatment of COVID-19 and other critically ill patients.
Ethicon, Medtronic, and Olympus together account for approximately 60% of the global endoscopy devices market share. Robotic endoscopic surgery and capsule endoscopy are gaining acceptance and the caseloads are expected to increase in the future as some of the pitfalls of conventional endoscopic surgery are overcome.