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09 Dec 2022 - 11 Dec 2022

Endoscopy Devices Market Driven by Increasing Adoption of Minimally Invasive Procedures

By HospiMedica International staff writers
Posted on 14 Jul 2022
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Image: Global endoscopy devices market was valued at over USD 31 billion in 2020 (Photo courtesy of Unsplash)
Image: Global endoscopy devices market was valued at over USD 31 billion in 2020 (Photo courtesy of Unsplash)

Endoscopy procedures are performed by inserting a rod shaped telescope and specialized instruments through small incisions in the body. These procedures can be diagnostic as well as operative, and are explored for various areas of surgery including gastrointestinal, urological, ENT, cardiovascular, and joint surgeries. These are minimally invasive procedures and provide various advantages over open surgeries such as reduced blood loss, reduced chances of infection, shorter hospital stay, and quick recovery. This has increased the adoption of endoscopy, especially in the field of oncology. The global endoscopy devices market was valued at USD 31.8 billion in 2020 and is projected to register a CAGR of 3.8% from 2021 to 2028.

These are the latest findings of Transparency Market Research (Wilmington, DE, USA), a global market intelligence company.

Endoscopy surgeries provide benefits to doctors as well as patients. Benefits for patients include lesser chances of infections, quick recovery, smaller surgery marks on body, and low cost; while benefits to doctors include reduced hospital stay and higher customer satisfaction. Operative endoscopy includes arthroscopy, laparoscopy, spinal endoscopies, and various other surgeries for sample biopsy, and cardiovascular surgeries. An endoscopy system comprises an endoscope, visualization system (which includes the camera, control unit, illumination devices, image processing devices, and display), and various specialized operative instruments (which include energy systems, internal closure devices, irrigation systems, and others). An endoscope that is rigid, finds applications in arthroscopy and laparoscopies and flexible endoscopes have applications in gastrointestinal, urology, and other systems where rigid endoscope may not reach. Modern endoscopes called videoscopes have a 'chip-on-tip', which deliver better image quality and are more durable.

Fiberoptic endoscopes are fragile and delicate, hence are damaged easily. This is a major driver of the videoscopes market, and the technology is expected to replace fiberoptic and rod-lens systems in the near future. Consistent technological advances have added new products to the market and expanded boundaries of the endoscopy devices market. Capsule endoscopes and robot-assisted endoscopes have revolutionized the endoscopy market. Capsule-shaped devices possess built-in camera unit and wireless transmission system, which delivers high quality images to external receiver, as these pass through the gastrointestinal tract. The device has made diagnosis of gastrointestinal tract more efficient as the capsule is able to deliver images of intestinal areas where flexible endoscope cannot reach.

Technological innovations in medical imaging devices have increased the scope of medical devices and consequently, the market’s customer base. Robotic-assisted endoscopic procedures have created a paradigm shift in the endoscopic devices market. Moreover, minimally invasive diagnostic and surgical procedures performed using robotic technology offer benefits such as lower blood loss, less scarring, reduced risk of infection, and faster return to normal life. Hence, an increase robotic-assisted endoscopic procedures is anticipated to boost market growth. The development of chromoendoscopy has added another dimension to the evolving endoscopy market. Three dimensional (3D) camera systems have improved the depth perception and reduced errors during surgery, which has brought down the overall surgery time.

In terms of device type, the global endoscopy devices market was dominated by the endoscopic operative devices segment in 2020 and the segment is expected to maintain its dominance during the forecast period. The demand for minimally invasive surgery has increased in the past few years, owing to its advantages over open surgeries. Geographically, North America dominated the global endoscopy devices market in terms of market share in 2020. The majority of leading players in the endoscopy devices market is based in the US and have a better understanding of the local market. Additionally, the ability of patients to afford expensive medical services has fueled the growth of the endoscopy devices market in North America. Moreover, rising obesity rate has led to an increase in the number of bariatric procedures performed in the US, a majority of which is carried out laparoscopically. Going forward, an increase in the incidence of cancer, aging population, and high rate of obesity is likely to propel the growth of the North American endoscopy devices market during the forecast period.

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Transparency Market Research 

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