Global Endoscopes Market Size to Worth USD 17.19 Billion By 2025

The global endoscopes market size is expected to reach USD 17.19 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 8.8 percent during the forecast period. Growing global geriatric population, high prevalence of gastrointestinal diseases, and rising technological advancements are the key factors contributing to market growth. Rising preference for minimally invasive surgeries (MIS) is also positively influencing the growth of the market. Endoscopy surgeries are performed for diagnosis as well as treatment of gastrointestinal, gynecological, neurological, and cardiovascular diseases. Emergence of minimally invasive alternatives to open surgeries such as laparoscopy, hysteroscopy, and colonoscopy is boosting the demand for endoscopes. Preference of MIS is increasing owing to smaller incision, reduction in postoperative complications & mortality, and lesser trauma. Furthermore, they are economically viable alternatives to open surgeries.

Availability of technologically advanced endoscopes is also providing a significant push to the market. Market players are undertaking R&D initiatives to improve existing products as well as launch new products, which is expected to bolster the growth of the market. For example, VISERA 4K UHD System is a surgical system lunched by Olympus in 2016 with 55-inch primary operative display for enhancing MIS. In March 2018, Auris Health, Inc. announced FDA approval of its new robotic endoscopy system, Monarch Platform. In June 2017, Olympus launched 3D surgical endoscope designed to be compatible with VISERA ELITE II system. It uses 3D imaging facilitating depth perception that enables precise surgery. Pentax Medical launched Slim Linear Ultrasound Endoscope (EG-3270UK) in the US in August 2017. – Grand View Research