Endoscopy devices market size worth USD 64.15B by 2030

The global endoscopy devices market is projected to grow at a CAGR of 7.3% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 36.54 Billion in 2021 and is expected to reach USD 64.15 Billion by the end of the forecast period.

Global endoscopy devices market to exhibit steady expansion: Olympus, KARL STORZ, Stryker, and others set to dominate
The demand for minimally invasive medical procedures will drive substantial growth in the global endoscopy devices market over the next few years. Industry leaders, such as Olympus (Japan), KARL STORZ (Germany), Stryker (US), Boston Scientific (US), Ethicon (US), Fujifilm Corporation (Japan), Medtronic (Ireland), Hoya Corporation (Japan), Richard Wolf GmbH (Germany), and Smith & Nephew (UK), are poised to capitalise on this trend via strategic initiatives and innovative solutions.

Endoscopy, a medical procedure utilising sophisticated apparatus called endoscopes, enables doctors to conduct in-depth examinations of internal organs and tissues. These devices consist of thin, flexible tubes that are directly implanted into the body, enabling precise visualisations and even minor surgical interventions. These procedures not only contribute to a reduction in recovery times but also increase patient satisfaction.

The expanding adoption of minimally invasive surgical techniques, such as arthroscopy and laparoscopy, is a major factor propelling the Endoscopy Devices Market expansion. These techniques, made possible by sophisticated endoscopic instruments, reduce patient trauma and shorten recovery times, thereby improving overall health outcomes.

Industry leaders such as Olympus (Japan), KARL STORZ (Germany), Stryker (United States), and other prominent competitors have consistently maintained their market presence in this competitive environment. To remain ahead of the curve, these key players have adopted strategies involving comprehensive financial statements, meticulous product benchmarking and SWOT analysis, and innovative approaches.

In addition, the Endoscopy Devices Market is witnessing the implementation of key development strategies designed to expand product portfolios and global footprints. Analyses of market share and market position highlight the importance of these actors in determining the industry’s trajectory.

North America has become a key market for endoscopy devices due to factors such as the prevalence of chronic diseases among an ageing population and the robust adoption of technologically advanced solutions. Endoscopy intervention awareness campaigns have also contributed to the region’s dominance.

As the demand for minimally invasive medical procedures continues to rise, Olympus, KARL STORZ, Stryker, and others are poised to dominate the market by leveraging their financial strength, innovative product offerings, and strategic market positioning. Verified Market Research