Endoscopes Market size was valued at USD 17.2 Billion in 2023 and is likely to exceed USD 34.2 Billion by the end of 2036, expanding at over 7.6% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of endoscopes is assessed at USD 18.9 Billion.
The factors driving the growth of the endoscope market include the increasing prevalence of chronic diseases such as ulcerative colitis and the demand for minimally invasive procedures. According to data published by the National Institute of Health (NIH), in 2019, 74% of the deaths were caused by chronic diseases worldwide.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
7.6% |
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Base Year Market Size (2023) |
USD 17.2 billion |
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Forecast Year Market Size (2036) |
USD 34.2 billion |
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Regional Scope |
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Product (Rigid Endoscopes, Flexible Endoscopes, Disposable Endoscopes, Capsule Endoscopes, Robot Assisted Endoscopes)
Flexible endoscopes segment is expected to hold endoscopes market share of over 47% by the end of 2036. This growth is attributed to the increasing extent of gastrointestinal disorders, screening programs, and the expanding preference for minimally invasive procedures. Flexible endoscopy is used to visualize the upper and lower gastrointestinal system and examination of various other parts. That’s why it is an ideal solution for diagnosing challenging situations where visualization is difficult. Flexible endoscopy helps reduce pain and discomfort caused to the patients during colonoscopy. These are also estimated to avoid sedations without stretching the bowels.
End-use (Hospitals, Outpatient Facilities)
Outpatient facilities segment in the endoscopes market is set to showcase growth rate of over 12.1% through 2036. The segment is growing due to the numerous benefits it offers such as convenience, cost-effectiveness, and effective diagnosis procedures. As per Research Nester’s analysis, the outpatient care sector is estimated to value at nearly USD 2 trillion by 2029 worldwide.
Generally, the upper endoscopy is performed as an outpatient procedure where the surgeon may give liquid medicine to gargle or spray numbing medicine in patient’s mouth to achieve effective results. Overall, the advantages and affordability of outpatient facilities are highly preferred by people who cannot afford expensive treatments and do not have to pay huge bed fees by not getting admitted.
Our in-depth analysis of the global market includes the following segments:
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Product |
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End - Use |
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North America Market Statistics
North America in endoscopes market is anticipated to hold revenue share of more than 40% by 2036. The region’s growth is attributed to the rapidly aging population and increasing adoption of elective endoscopic procedures. It is estimated that one in five Americans will be of age 65 or above by 2040.
The United States market is witnessing growth as a result of the increased expenditure on healthcare. As per a National Health Expenditure Fact Sheet presented by the Centers for Medicare & Medicaid Services, in 2022; the healthcare spending in the U.S. reached up to USD 4.5 trillion holding a share of 17.4% in the gross domestic product (GDP).
The market in Canada is expanding due to the rising prevalence of inflammatory bowel diseases and other gastrointestinal disorders. According to the statistics provided by Canadian Government in 2021, approximately 260,000 Canadians had inflammatory bowel disease.
Asia Pacific Market Analysis
The Asia Pacific region of the endoscopes market is poised to register a CAGR of 7.1% in the coming years, owing to the launch of innovative endoscopic products, a rise in the elderly population, and increasing incidences of chronic disorders. Cardiovascular diseases are one of the major causes of death in Asia Pacific with an estimated 9.85 million deaths in the South- East Asia and Western Pacific regions in 2019.
The market is growing in China because of the increasing cases of gastrointestinal cancers. According to a National Institute of Health survey, stomach cancer in China accounted for 43.9% of the global level and 4.7 million cases in the year 2020.
The market is flourishing in India owing to the high number of breast cancer cases and the growing elderly population. The mortality rate for breast cancer in India is 12.7 per 100000 women.
The market is dominated by key market players who are gaining traction in the market due to the increasing incidence of gastrointestinal and cardiovascular diseases.
Author Credits: Radhika Pawar
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