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Endoscopes market size to reach US$ 25.25.4B by 2030

Precedence Research, Recently announced new report on “Endoscopes Market – Global industry analysis, size, share, growth, trends, regional outlook, and Forecast 2022 – 2030”.

Endoscopy is a minimally invasive medical treatment for preventing, diagnosing, and treating problems of the body organs. Endoscopes are utilized to look inside the hollow organs and cavities in the body during the treatment. These devices are inserted into the body through natural holes and cavities or incisions, particularly in the case of arthroscopy.

Many tools and equipment are used during endoscopy to ensure a safe and successful procedure. One such tool is endoscopes. Gynecologists, cardiologists, gastroenterologists, hepatologist, neurologist, and liver transplant surgeons are the most common users of endoscopes.

Furthermore, the advent of endoscopic operations, such as endoscopic sleeve gastroplasty, is likely to drive the endoscopes market growth during the projection period. Stitches are commonly used in endoscopic surgeries to help with the remodeling of organs. As a result, an increase in demand for endoscopic surgeries is likely to drive up demand for endoscopes in the market.

Regional snapshot
North America is the largest segment for endoscopes market in terms of region, due to enhanced healthcare infrastructure, increased acceptance of new technology, and a growing demand for minimally invasive surgeries to reduce healthcare costs.

Asia-Pacific region is the fastest growing region in the endoscopes market. This is attributed to the significant need for endoscopic technology in this region. Improving health infrastructure and the expanding senior population are key factors driving the regional market expansion.

Report highlights

  • Based on the product, the flexible endoscopes segment dominated the global endoscopes market in 2021 with highest market share of 47%. This is due to healthcare professional’s growing preference for flexible endoscopes, technological advancements, increased efficiency and safety, and flexible endoscope’s ergonomic features.
  • Based on the application, the gastrointestinal endoscopy segment dominated the global endoscopes market in 2021 with highest market share 51%, owing to the increased prevalence of gastrointestinal illnesses and the growing geriatric population.
  • Based on the end use, the hospitals segment dominated the global endoscopes market in 2021 with highest market share 48.1%. This is attributed to the favorable reimbursement policies and widespread acceptance and use of endoscopes in hospital systems.

Market dynamics
Drivers
Rising prevalence of chronic diseases

The increasing prevalence of chronic diseases, the development of endoscopy technologies, and expanded support and coverage for endoscopic screening and care all contribute to the global demand for endoscopes. Furthermore, the growing geriatric population around the world is having a significant impact on the demand for endoscopes. Older people are more vulnerable to health issues such as ophthalmic disorders, gastrointestinal problems, orthopedic diseases, cancer, and others due to lower immunity, which complicates medical and treatment options. Endoscopes market growth is being driven by an increased preference for minimally invasive and global endoscopic procedures.

Restraints
Shortage of trained healthcare professionals

Endoscopy physicians and surgeons are in short supply throughout the world. This shortage of endoscopy-trained professionals is expected to be felt in developing countries as well. To prevent the spread of infections in endoscopy facilities, trained professionals are required to perform endoscopy procedures effectively. A global shortage of skilled physicians, doctors, and nurses is expected to have an adverse effect on the number of endoscopy procedures performed each year. As a result, the shortage of trained healthcare professionals is hindering the growth of the endoscopes market during the forecast period.

Opportunities
Surge in need for endoscopy

Endoscopy procedures are minimally invasive surgeries that are performed through one or more small incisions with the help of small tubes, tiny cameras, and surgical instruments. Endoscopy procedures have several advantages, including less pain, a shorter or no-hospital stay, and fewer complications associated with pre- and post-surgery care.As a result, these procedures are less expensive, more effective, and safer than traditional open surgeries. Furthermore, in developed countries, these procedures are covered by health insurance providers. These factors contribute to patients’ and physicians’ strong preference for endoscopy procedures. Endoscopy is increasingly being used to diagnose and treat a variety of major diseases, including cancer, orthopedic disorders, neurological disorders, and gastroesophageal reflux disease. As a result, the rising prevalence of chronic diseases such as cancer and cardiovascular diseases is expected to increase the demand for endoscopy procedures. Thus, the surge in need for endoscopy is creating lucrative opportunities for the growth of the endoscopes market during the forecast period.

Challenges
Stringent government regulations

Endoscopy-related diseases and complications may have an impact on business development. Policy changes are likely to raise the costs of developing new products and providing consumer services. The potential loss of sales as a result of product’s delayed release, as well as the increased expenses paid as a result of the tight approval procedures, put pressure on investments in new product development, limiting the market growth. Precedence Research

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