Endoscopy Equipment Market: Current Analysis and Forecast (2021-2027)
$4999 – $8699
Emphasis on Product Type (Endoscope, Visualization System, Other Endoscope Equipment, Accessories); Application (Gastrointestinal Endoscopy, Laparoscopy, Obstetrics/ Gynecology Endoscopy, Arthroscopy, Urology Endoscopy (Cystoscopy), Bronchoscopy, ENT Endoscopy, Mediastinoscopy, and Others); End-User (Hospitals, Ambulatory Surgery Centers/Clinics, Others); and Region/Country
Detailed Analysis of COVID-19 Impact on the Endoscopy Equipment Market
The global endoscopy equipment market is expected to witness a CAGR of around 8% during the forecast period (2021–2027). Endoscopy is a medical process that permits a doctor to investigate and observe the body without performing any major surgery. Major factors for the endoscopy market are the rising prevalence of gastroesophageal reflux diseases (GRED), celiac disease, cardiology, neurology, orthopedic surgeries, inflammation, and biopsy worldwide. Furthermore, there’s a high prevalence of gastrointestinal infectious diseases worldwide due to unhealthy lifestyles and malnutrition. For instance, according to reported data from the Center for Science In The Public Interest, in 2020, unhealthy diets contributed to approximately 678,000 deaths each year.
Boston Scientific Corporation, Conmed Corporation, Fujifilm Holdings Corporation, Johnson & Johnson, KARL STORZ, Medtronic plc, Stryker Corporation, Olympus Corporation, Richard Wolf GmbH, and Smith & Nephew plc are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst Product Type, endoscope category to witness the fastest growth during the forecast period”
Based on product type, the market is classified into the endoscope, visualization system, other endoscope equipment, and accessories. Among them, in 2020, the endoscope category dominated the market and is expected to maintain its dominance throughout the forecast period. Moreover, the endoscope procedure is used to diagnose some diseases related to the stomach, colon, nose, and throat such as gastroesophageal reflux diseases (GERD), celiac disease, cardiology, neurology, orthopedic surgeries, inflammation, biopsy, and the rising geriatric population. These factors are anticipated to be a key driver of the endoscopy equipment market devices during the forecast period. Furthermore, according to World Cancer Research Fund International (WCRF), colorectal cancer is the 3rd most common cancer worldwide. There were more than 1.9 million new cases of colorectal cancer cases diagnosed in 2020.
“Amongst Application, Gastrointestinal (GI) Endoscopy category is expected to witness significant growth in the Endoscopy Equipment Market”
Based on application, the market is bifurcated into gastrointestinal (GI) endoscopy, laparoscopy, obstetrics/ gynecology endoscopy, arthroscopy, urology endoscopy (cystoscopy), bronchoscopy, ENT endoscopy, mediastinoscopy, and others. Among them, in 2020, gastrointestinal (GI) endoscopy held significant share in the market. Gastrointestinal (GI) endoscopy is a diagnostic and therapeutic procedure that allows one to image, assess, and treat GI illnesses such as polyps and cancer, infections, celiac disease, ulcerative colitis, short bowel syndrome, Gastroesophageal reflux disease (GERD), peptic ulcer disease, and hernia. Furthermore, according to the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK), about 2 million people in the United States have celiac disease and about 1 percent of people around the world have celiac disease.
“Amongst End-User, hospitals category is expected to witness significant growth in the Endoscopy Equipment Market”
Based on end-user, the market is bifurcated into hospitals, ambulatory surgery centers, and others. In 2020, the hospitals and clinics category accounted for the majority share during the forecast period owing to the rising adoption of endoscopy equipment in hospitals. This can be ascribed to the fact that hospitals and clinics are the first step in any disease diagnosis. Further, the government across countries is investing in the healthcare industry for advancements and technological upgradation. Moreover, rising patient footfall in hospitals owing to ease of accessibility to most healthcare services is expected to boost the segment growth during the forecast period.
“North America to witness significant growth during the forecast period”
For a better understanding of the market adoption of the Endoscopy Equipment industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America); Europe (Germany, United Kingdom, France, Spain, Italy, Rest of Europe); Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific); and the Rest of World. In 2020. North America accounted for a significant market share owing to the increasing prevalence of geriatric population, gastrointestinal (GI) endoscopy, laparoscopy, obstetrics/ gynecology endoscopy, arthroscopy, cystoscopy, bronchoscopy, ENT endoscopy, and others in the region. In addition, increasing age and the incidence of both benign and malignant gastrointestinal (GI) disease increases. Endoscopic procedures are also increased in elderly patients to diagnose and treat GI disorders. For instance, according to the US Census Bureau analysis, the elderly population is expected to nearly double in the next 25 years. In addition, according to World Population Ageing, in 2019, the elderly population of North America was 59.9 million which is expected to reach 96.2 million by 2050.
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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|1.4.||Currency used in Report|
|2.1.||Research Process of the endoscopy equipment market|
|2.2.||Research Methodology of the endoscopy equipment market|
|2.5.||Main Objective of the endoscopy equipment market Study|
|5||ENDOSCOPY EQUIPMENT MARKET COVID-19 IMPACT|
|6||ENDOSCOPY EQUIPMENT MARKET REVENUE (USD BN), 2019-2027F|
|7.3.||Other Endoscope Equipment|
|8.3.||Obstetrics/ Gynaecology Endoscopy|
|8.5.||Urology Endoscopy (Cystoscopy)|
|9.2.||Ambulatory Surgery Centers|
|10.1.3.||Rest of North America|
|10.2.6.||Rest of Europe|
|10.3.5.||Rest of Asia-Pacific|
|10.4.||Rest of World|
|12||ENDOSCOPY EQUIPMENT MARKET OPPORTUNITIES|
|13||ENDOSCOPY EQUIPMENT MARKET TRENDS|
|14.1.||Demand Side Analysis|
|14.2.||Supply Side Analysis|
|15||VALUE CHAIN ANALYSIS|
|16.1.1.||Porter’s Five Forces Analysis|
|17.1.||Boston Scientific Corporation|
|17.3.||Fujifilm Holdings Corporation|
|17.4.||Johnson & Johnson|
|17.9.||Richard Wolf GmbH|
|17.10.||Smith & Nephew plc|
Research Methodology for the Endoscopy Equipment Market Analysis (2021-2027)
Analyzing the historical market, estimation of the current market, and forecasting the future market of the endoscopy equipment market were the three major steps undertaken to create and analyze the adoption of the endoscopy equipment market in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the endoscopy equipment market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the endoscopy equipment market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the endoscopy equipment market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report product type, application, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the endoscopy equipment market. Further, we conducted factor analysis using dependent and independent variables such as various applications, equipment, and power rating of endoscopy equipment market equipment. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the endoscopy equipment market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the endoscopy equipment market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the endoscopy equipment market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the endoscopy equipment market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the endoscopy equipment market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product type, application, and end-user in the endoscopy equipment market.
The main objective of the Endoscopy Equipment Market Study
The current & future market trends of the endoscopy equipment market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the endoscopy equipment market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product type, application, and end-user.
- Define and analysis of the regulatory framework for the endoscopy equipment market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the endoscopy equipment market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the world.
- Company profiles of the endoscopy equipment market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry