According to Fact.MR, a supplier of market research and competitive information, the global market for endoscopic treatments is expected to reach US$ 227 million in 2022 and maintain that value with a CAGR of 1.5% from 2022 to 2032. Fact.MR has repeatedly emphasized the growing need for minimally invasive endoscopic procedures brought on by the rising incidence of chronic illnesses. On the basis of these factors, the market for endoscopic operations is expected to grow to US$ 263 million by 2032.
There will be nothing to stop the market for endoscopy procedures estimations from expanding during the projection period given that the National Centre for Chronic Disease Prevention and Health Promotion (NCCDPHP) reports that 60% of American people have chronic illnesses.
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Key Takeaways from Endoscopy Procedures Estimates Market Study
- The Asia-Pacific holds 44% of the entire market.
- Gastroscopy contributes for 32% of the market revenue.
- Technological advancements to be the buzzword of endoscopy procedures estimates market
- IBS (Irritable Bowel Syndrome) to propel the endoscopy procedures estimates market
- North America and Europe are at the matured stage of endoscopy procedures estimates market.
Market growth will be fuelled by developments in endoscopic devices that yield high-quality images of the digestive tract, as well as the development of new, cost-effective devices. In 2019, Fujifilm launched 10 new endoscopes to strengthen its offer in interventional gastro-intestinal and interventional pulmonary endoscopy with advanced features such as Ultra-Slim, compactability, and removable single-use end caps for manual cleaning.
Competitive Landscape
Due to the presence of several major players, the market is highly competitive and fragmented. Companies are undertaking various strategic initiatives to recover losses resulting from the pandemic and to strengthen their market positions. Additionally, these companies make investments that allow them to hold a large share of the market.
What can be expected from the Gastroscopy Segment during the forecast period?
In terms of procedures, the gastroscopy segment is expected to dominate the market in 2022 with a 32% share. This segment has the greatest share due to the increasing number of endoscopic surgeries performed for diagnosis of digestive tract diseases or illnesses of the esophagus.
The segment is also anticipated to grow as the demand for upper endoscopy surgery for patients with cirrhosis of the liver increases. Growth of this segment is further attributed to the fact that gastroscopy is recommended by physicians in order to diagnose several common symptoms, such as indigestion, abdominal pain, dysphagia, excessive vomiting, unusual burping, and so on. Additionally, the growing prevalence of digestion and swallowing disorders drives the growth of this segment. Approximately 15 million Americans suffer from swallowing difficulties, according to the National Foundation of Swallowing Disorders.
Key players in Endoscopy Procedures Estimates Market
- China Resources Phoenix Healthcare Holdings Company Limited
- Tenet Healthcare Corporation
- Surgical Care Affiliates
- AMSURG Corporation
- Ramsay Health Care
- Apollo Hospitals Enterprise Ltd
- IHH Healthcare Berhad
Key Segments Covered in Endoscopy Procedures Estimates Industry Survey
- By Application :Colonoscopy
Gastrointestinal (GI) Endoscopy
Laparoscopy
Bronchoscopy
Gastroscopy
Duodenoscopy
Cystoscopy
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