Endoscopy Visualization Systems Market: Asia Pacific Is Projected To Witness Remarkable Growth Over The Forecast Period

 Endoscopy Visualization Systems Industry Overview

The global endoscopy visualization systems market size was valued at USD 21.5 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.0% from 2021 to 2028. Endoscopy is a minimally invasive procedure used for the examination of the internal organs in the body. Visualization systems with advanced technologies can provide superior image quality, which makes them very important in the medical field. In recent years, endoscopic procedures have emerged as a potential adjunctive tool in various medical specialties such as general surgery, gastrointestinal, urology, and others. According to the Centers for Disease Control and Prevention, around 494,000 hysterectomies are performed in the U.S. annually. Approximately 80.0% of the surgeries are done laparoscopically or robotically. Thus, shift towards minimally invasive surgeries and increasing prevalence of cancer, thereby fueling the market growth.

The rising prevalence of diseases including colorectal cancer, gastrointestinal disorders, pancreatic abnormalities, urological, gynecological, and respiratory problems is expected to fuel the growth of the market. As per the World Cancer Research Fund, colorectal cancer is the 3rd most common cancer in men and 2nd most common cancer among women. Furthermore, according to the WHO, the number of new colon cancer cases is projected to increase from 1.15 million in 2020 to 1.51 million by 2030. This is anticipated to favor the demand for endoscopy procedures in the coming years. Apart from this, the increasing geriatric population adds to the patient population requiring endoscopic procedures. As per the estimate of the United Nations, the number of people aged 65 years and above is expected to reach from 703 million in 2019 to 1.5 billion by 2050. This is projected to drive the market for endoscopy visualization systems over the forecast period.

Gather more insights about the market drivers, restraints and growth of the Global Endoscopy Visualization Systems Market

 

Endoscopic procedures offer various advantages over open invasive surgeries. These procedures are associated with reduced recovery time, reduced hospital stay, less complication, lower cost, and smaller incisions resulting in better clinical outcomes. Owing to this, the adoption of minimally invasive endoscopy is increasing. According to an article published in the Gastrointestinal Endoscopy, an official publication of the American Society for Gastrointestinal Endoscopy, over 17.7 million endoscopic procedures are performed in the U.S. annually. This accounts for 5.6% of the U.S. population. Thus, a significant increase in the number of minimally invasive endoscopic procedures coupled with the rising cost burden of cancer is anticipated to favor the growth of the market for endoscopy visualization systems. Furthermore, active government support to promote less invasive surgeries in outpatient settings is likely to propel the growth of the market.

The COVID-19 pandemic has caused serious disruption in the healthcare industry. The pandemic has led to a decline in sales of medical devices globally. The cancellation or postponement of elective and non-urgent endoscopic procedures has negatively impacted the market for endoscopy visualization systems. For instance, as per a study published in PubMed on the impact of COVID-19 on gastrointestinal endoscopy in France, over 98.7% of the gastroenterologists had to cancel the endoscopic procedures in March 2020. In April 2020, the American College of Gastroenterology announced the suspension of elective endoscopy. Furthermore, the Canadian Association of Gastroenterology (CAG) also issued guidelines to be followed by hospitals providing endoscopy services. Strict protocols imposed on endoscopy facilities are expected to further decrease the surgery volume. Manufacturers, vendors, distributors operating in the market continue to get affected by the pandemic owing to the restrictive government measures. Apart from this, various government-organized cancer screening programs and initiatives were interrupted or canceled. However, the pandemic has increased the focus on single-use endoscopes as they provide for better infection control.

The key players are now focusing on mergers and acquisitions and new product launches to sustain their business and accelerate the company’s growth. For instance, in January 2021, Olympus Corporation announced the acquisition of Quest Photonic Devices. This is expected to strengthen its position in the surgical endoscopy market and provide new growth opportunities to the company.

 

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Endoscopy Visualization Systems Industry Segmentation

Grand View Research has segmented the global endoscopy visualization systems market report on the basis of product type, resolution type, and region:

  • Product Type Outlook (Revenue, USD Million, 2014 - 2028)
    • Endoscopic Visualization Systems
      • Standard Definition (SD) Visualization Systems
        • 2D Systems
        • 3D Systems
      • High Definition (HD) Visualization Systems
        • 2D Systems
        • 3D Systems
      • Endoscopy Visualization Components
        • Camera Heads
        • Insufflators
        • Light Sources
        • High Definition Monitors
        • Suction Pumps
        • Video Processors

 

  • Resolution Type Outlook (Revenue, USD Million, 2014 - 2028)
    • 4K
      • UHD Resolution
      • DCI resolution
    • FHD Resolution

 

  • Endoscopy Visualization Systems Regional Outlook (Revenue, USD Million, 2014 - 2028)
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

 

Key Companies profiled:

Some prominent players in the global Endoscopy Visualization Systems Industry include

  • Stryker Corporation
  • Boston Scientific Corporation
  • Ethicon US, LLC
  • Richard Wolf GmbH
  • Medtronic
  • Smith & Nephew plc
  • CONMED Corporation
  • Machida Endoscope Co., Ltd.
  • Pentax Medical
  • FUJIFILM Holdings Corporation
  • Karl Storz GmbH & Co. KG.
  • Olympus Corporation

 

Order a free sample PDF of the Endoscopy Visualization Systems Market Intelligence Study, published by Grand View Research.


About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.


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