Endoscopes Market Observe Significant Growth Of USD 37.1 Billion By 2030Posted by Neha Bora on March 6th, 2024 San Francisco, 6 March 2024: The Report Endoscopes Market Size, Share & Trends Analysis Report By Product (Disposable, Flexible, Rigid), By End Use (Hospitals, Outpatient Facilities), By Region, And Segment Forecasts, 2024 - 2030 The global endoscopes market size is expected to reach USD 37.1 billion by 2030, registering a CAGR of 8.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growing awareness levelsabout minimally invasive surgical procedures and the increasing prevalence of chronic disorders are the major factors accelerating the market growth. The benefits, such as less surgery-related blood loss, no muscle cutting, and quicker recovery, offered by minimally invasive surgeries boost the adoption of endoscopic procedures over traditional/open invasive surgeries. In addition, advancement in endoscopic technology and rapid increase of its application to diagnose and treat various diseases are other key factors anticipated to propel the market growth over the forecast years. The flexible endoscopes product segment dominated the market in 2023. This is attributed to the high demand for these devices considering their unique features, such as the ability to reach viscera and cavities, better safety and efficiency, and improved ergonomic features. These devices are most commonly used in several endoscopic procedures, such as esophagogastroduodenoscopy (EGD), bronchoscopy, sigmoidoscopy, laryngoscopy, pharyngoscopy, nasopharyngoscopy, rhinoscopy, and colonoscopy procedures, which supports the product demand and segment growth. In 2023, the outpatient facilities end-use segment dominated the market. Increasing adoption of endoscopes across outpatient facilities such as ambulatory surgery centers and diagnostic clinics for the early diagnosis and detection of several life-threatening diseases is supporting the segment growth. In addition, the introduction of keyhole endoscopic surgeries with minimal discomfort and faster recovery time also boosts the segment growth. In addition, North America held the largest revenue share in 2023 owing to its better healthcare infrastructure, high preference for minimally invasive surgical procedures among individuals, and quick adoption of advanced technologies. The increasing burden of functional gastrointestinal disorders and cancer is anticipated to further propel market growth in this region. For instance, as per the data reported by the National Cancer Institute, in 2020, over 1.8 million new cancer cases were estimated to be diagnosed in the U.S. Several industry consolidation activities, such as mergers & acquisitions, and partnerships have resulted in a strong market share of the global market. Manufacturers in the market are also focusing on launching new endoscopes with advanced features as per patients’ requirements, to enhance their market share and consumer base. For instance, in January 2021, Karl Storz SE & Co. KG announced the launch of Image 1 S Rubina, which combines multimode fluorescence imaging with 4K resolution for endoscopy procedures. The toggling between white light and fluorescence modes allows surgeons to set it per surgical needs. Access Research Report of Endoscopes Market @ https://www.grandviewresearch.com/industry-analysis/endoscopes-market Endoscopes Market Report Highlights
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