Rising incidences of chronic disorders across the globe has urged the development of innovative and effective treatment solutions. One such innovative solutions for mounting prevalence of GI diseases is endoscopy which is gaining massive traction from past few years. Patients suffering from severe chronic conditions are mainly recommended to opt for endoscopic procedures as they help surgeons to obtain the inside view of body parts without performing major incisions. For example, Third Eye Panoramic system developed by Avantis Medical Systems offer up to 330-degree view of colon which help physicians to screen the flexures and folds of the colon.

Increasing proclivity for endoscopic surgery techniques can also be attributed to their painless nature, minimum incisions, less discomfort to patients, reduced risk of infection, and faster recovery. Such factors are potentially impelling the demand for endoscopic instruments which is driving the growth of endoscopic market. According to Global Market Insights, Inc., endoscopy market size is projected to surpass USD 52.0 billion by 2027.

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Major industry players operating in endoscopy market such as Hoya Corporation, B. Braun Melsungen AG, Boston Scientific, Ethicon US, LLC, Olympus Corporation, Fujifilm Corporation, Stryker, etc. are focusing on research and development activities to produce innovative endoscopic devices. For instance, in 2020, Olympus released its new endoscopy system EVIS X1 designed with an aim to improve outcomes pertaining to the diseases related to stomach, esophagus, colon as well as to bronchial disorders. According to the company, this system supports several techniques for screening and diagnosis that include Extended Depth of Field, Texture and Color Enhancement Imaging, Narrow Band Imaging as well as Red Dichromatic Imaging.

Continuous technological advancements in endoscopic ultrasound devices from past few years has widened the application of these devices as diagnostic and therapeutic tools. Citing an example of such advancement, in 2020, PENTAX Medical, launched its novel J10 Series of Endoscopic Ultrasound Video Gastroscopes. According to the company, this product is effective in the assessment of GI diseases as it is minimally invasive and provides high accuracy by using high-frequency sound waves for producing detailed images of tissue and organs like liver and pancreas. In light of such advancements, endoscopic ultrasound segment had registered an appreciable valuation of USD 1,210 million in 2020 and is projected to witness a robust CAGR of at 8.1% through 2027.  

Rising incidences of gastrointestinal disorders such as gastrointestinal tumors, which is one of the leading causes of deaths around the world, has increased the adoption of GI endoscopy over past few years. Besides, several initiatives to spread awareness about these disorders, for example, awareness campaigns and research initiatives by the United European gastroenterology for GI diseases is fueling the demand for endoscopic devices. This is expected to provide lucrative growth prospects to the market in coming years. For the records, in 2020, GI endoscopy segment had secured a notable market share and was valued at over USD 6,910 million.

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Ongoing improvements in healthcare systems coupled with growing healthcare expenditure by government and private institutions has drawn attention of physicians as well as patients for endoscopic procedures in the hospital settings. This has evoked the demand for endoscopic devices across these hospitals which is positively influencing the business space. On account of the increased product adoption, in 2020, hospital segment had held a substantial revenue share by registering a valuation of over USD 15,580 million.

Increasing pervasiveness of gastrointestinal disorders in Brazil is the major factor impelling the demand for endoscopic procedures in the country. In addition, several initiatives such as ENDO 2020 organized by the World Endoscopy Organization for educating people about endoscopy, hepatology, oncology and gastroenterology are complementing the business growth in the country. Apart from this, significant rise in the number of domestic skilled healthcare professionals has also played a key role in increasing the number of endoscopic procedures in Brazil. This is evident from a credible report, which suggests that in 2018, nearly 3,180 healthcare professionals received authorization for performing endoscopies in Brazil increasing from about 2,630 in 2016. This helped Brazil become a strong hub for endoscopic procedures due to which the country has dominated the overall Latin America endoscopy market in 2020 by recording a substantial valuation of over USD 321 million.

Partial Chapter of the Table of Content

Chapter 2   Executive Summary

2.1    Endoscopy industry 360⁰ synopsis, 2016 - 2027

2.1.1    Business trends

2.1.2    Product trends

2.1.3    Application trends

2.1.4    End-use trends

2.1.5    Regional Trends

Chapter 3   Endoscopy Industry Insights

3.1    Industry segmentation

3.2    Industry landscape, 2016 – 2027

3.3    Industry impact forces

3.3.1    Growth drivers

3.3.1.1    Growing geriatric population globally

3.3.1.2    Innovative endoscopy devices for endoscopy in Europe and North America

3.3.1.3    Rising incidences of gastrointestinal disorders, cancer and other chronic conditions in Asia Pacific

3.3.1.4    Increasing demand for minimally invasive procedures

3.3.2    Industry pitfalls & challenges

3.3.2.1    Dearth of skilled physicians and endoscopists in developing countries

3.4    Growth potential analysis

3.4.1    By product

3.4.2    By application

3.4.3    By end-use

3.5    COVID-19 impact analysis

3.6    Regulatory landscape

3.7    Porter’s analysis

3.8    Competitive landscape, 2019

3.8.1    Competitive matrix analysis, 2019

3.9    PESTEL analysis

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