The Global Flexible Endoscopes Market Size is valued at 9.22 billion in 2023 and is predicted to reach 15.67 billion by the year 2031 at a 6.90% CAGR during the forecast period for 2024-2031.
An optical device that transmits light and relays images back to the viewer is known as a flexible endoscope. Moreover, these devices have flexible, transparent fibers. The body's interior can be diagnosed and treated with a flexible endoscope. The increased prevalence of chronic diseases affecting the internal body systems, the advantages of flexible microscopes over competitors, and the increased need for early diagnosis of chronic diseases are the main drivers driving the growth of the market under study. Furthermore, the market is growing as a result of the spike in adoption brought on by flexible endoscopes' advantages over competitors.
In addition, the growing senior population with target diseases has raised the demand for endoscopic procedures, which has driven the market growth for flexible endoscopes. It is anticipated that boosting government initiatives to increase public awareness of chronic diseases will significantly affect the acceptance of flexible endoscopes and market expansion. On the other hand, the dearth of experienced experts, such as endoscopists, in developing countries is one of the biggest problems the flexible endoscopes market is now facing. Flexible endoscopes' high price is also restricting the market.
Recent Developments:
- In August 2021, the EXALT Model B Single-Use Bronchoscope from Boston Scientific has FDA approval. The single-use EXALT Model B bronchoscope is the most recent advancement in flexible bronchoscopy. It was also designed for use in ICUs and is intended to help maintain airway clarity during difficult breathing operations like the insertion of double-lumen tubes.
- In January 2021, Quest Photonic Devices was purchased by Olympus Corporation. Its business in the surgical endoscopy industry has expanded due to the purchase. Furthermore, this tactical maneuver expanded Olympus Corporation's customer base, strengthening its dominance in the flexible endoscope industry.
Competitive Landscape:
Some of the flexible endoscopes market players are:
- Ambu A/S
- Becton, Dickinson and Company
- Boston Scientific Corporation
- Cooper Surgical
- Endomed Systems
- Ethicon Endo-surgery; LLC.
- Fujifilm Corporation
- Hoya Corporation
- Karl Storz GmbH & Co. KG.
- Laborie Medical Technologies
- Machida Endoscope Co.
- Medtronic Plc (Covidien)
- Olympus Corporation
- Pentax Medical
- Richard Wolf GmbH
- Smith & Nephew, Inc.
- Stryker Corporation
Market Segmentation:
The flexible endoscopes market is segmented on the basis of type and end-use. Type segment includes Laparoscopes, Arthroscopes, Ureteroscopes, Cystoscopes, Gynecology Endoscopes, Neuroendoscopes, Bronchoscopes, Hysteroscopes, Laryngoscopes, Sinuscopes, Otoscopes, Sigmoidoscopes, Pharyngoscopes, Duodenoscope, Nasopharyngoscopes, Rhinoscopes and Colonoscopes. By end-use, the market is segmented into Hospitals and Outpatient Facilities.
Based On Type, The Colonoscopes Segment Is Accounted As A Major Contributor In The Flexible Endoscopes Market
The colonoscopes category is expected to hold a major share in the global flexible endoscopes market in 2023 because there is a greater need for colonoscopes as a diagnostic and preventive tool since colorectal cancer and other gastrointestinal problems are becoming more common. Moreover, improvements in efficiency and safety brought about by technological developments in colonoscopy equipment have increased the procedure's acceptability and accessibility.
Outpatient Facilities Segment Witness Growth At A Rapid Rate
The outpatient facilities segment is projected to grow at a rapid rate in the global flexible endoscopes market. This high growth is due to advantageous reimbursement regulations and the widespread use of endoscopic devices in outpatient clinics. The market for outpatient facilities is anticipated to develop at the fastest pace during the projected period due to the rising need for healthcare services that are both affordable and convenient. For many patients, these facilities are a more inexpensive option because they provide medical care that does not necessitate an overnight stay in the hospital.
In The Region, The North America Flexible Endoscopes Market Holds A Significant Revenue Share
The North America flexible endoscopes market is expected to register the most increased market share in revenue in the near future. The rise in chronic illnesses that call for flexible endoscopes is to blame for this. For instance, several diseases are very common, including irritable bowel syndrome, colorectal cancer, and stomach cancer. Another element driving market expansion in the area is the increase in the population of older adults more prone to chronic illnesses.
Easy access to technologically cutting-edge flexible endoscopes and product launches are other elements that contribute to the market's expansion in the region. In addition, Asia Pacific is projected to grow at a rapid rate in the global flexible endoscopes market. This can be attributed to the growing number of older adults prone to chronic illnesses. The region also exhibits a strong presence of important firms, accelerating modern endoscopes' development. Numerous supportive activities also stimulate the regional industrial share to improve the healthcare system and raise awareness of chronic diseases.
Flexible Endoscopes Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 9.22 Bn |
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Revenue forecast in 2031 |
USD 15.67 Bn |
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Growth rate CAGR |
CAGR of 6.90% from 2024 to 2031 |
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Quantitative units |
Representation of revenue in US$ Billion, and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
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Segments covered |
Product, Type, And End User |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
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Competitive Landscape |
Olympus Corporation; Ethicon Endo-surgery; LLC.; FUJIFILM Holdings Corporation; Stryker Corporation; Boston Scientific Corporation; Karl Storz GmbH & Co. KG.; Smith & Nephew Inc.; Richard Wolf GmbH; Medtronic Plc (Covidien); Ambu A/S; PENTAX Medical and Machida Endoscope Co., Ltd. |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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