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Endoscopy Appliances Market
By Product (Endoscopes [Rigid Endoscopy Devices {Laparoscopes, Arthroscopes, Urology Endoscopes, Cystoscopes, Gynecology endoscopes, Neuroendoscopes, Other rigid endoscopes}, Flexible Endoscopy Devices {GI Endoscopes <Gastroscopes, Colonoscopes, Sigmoidoscopes, Duodenoscopes, Others>, ENT Endoscopes <Nasopharyngoscopes, Otoscope, Rhinoscopes, Laryngoscopes, Others>, Bronchoscopes, Other flexible endoscopes}, Capsule Endoscope, Robot-Assisted Endoscope Other Endoscopes], Endoscopy Visualisation System [2D Standard Definition (SD) and High Definition (HD) Visualisation System, 3D Standard Definition (SD) and High Definition (HD) Visualisation System, Camera Heads and Endoscopy Cameras, Light Sources, Display and Monitors, Transmitters and Receivers], Accessories [Biopsy Valves, Overtubes, Suction and Integration Systems, Energy Systems, Mouth Pieces, Surgical Instruments, Others])
By Usage (Single Use, Sterilisation, Reprocessing),
By Application (Arthroscopy, Bronchoscopy, Gastrointestinal (GI) endoscopy, Urology endoscopy (cystoscopy), Mediastinoscopy, Gynecology Endoscopy, Urology endoscopy (cystoscopy), Laparoscopy, ENT Endoscopy, Others),
By End Use (Hospitals, Ambulatory surgery centers, Others),
By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa):
Global Analysis and Forecast 2023-2033
The global endoscopy appliances market to worth more than USD 65.12 billion by 2033.
The key reasons driving the market's growth include a growing inclination for less intrusive procedures, higher adoption of endoscopes for treatment and diagnostics, and technological advancements resulting in improved applications. Cancer. Furthermore, the growing need for biopsies for cancer detection and diagnosis is expected to drive the endoscopy device market over the next several years. For instance, the worldwide cancer burden was calculated by using International Agency for Research on Cancer's GLOBOCAN 2020 projections of cancer incidence and mortality. In 2020, there were an approximate of 19.3 million new cancer cases (18.1 million excluding nonmelanoma skin cancer) and around 10.0 million cancer deaths (9.9 million excluding nonmelanoma skin cancer).
According to the CXOs and primary research conducted, Artificial intelligence advancements in endoscopic treatments have created new prospects for equipment producers. Endoscopy devices are projected to evolve in tandem with Artificial Intelligence (AI) and 3D imaging technology in the future. To give patients with effective and high care, robot assistance is also being studied. For instance, In April 2021, according to the global pioneer in medical innovations, the GI GeniusTM cognitive endoscopy module acquired de novo clearance from the US Food and Drug Administration (FDA). The GI Genius module is the first commercially available computer-aided detection (CADe) system that employs artificial intelligence to detect colorectal polyps (AI).
The markets for endoscopy appliances are extremely competitive, with a few notable businesses leading and dominating the market. Additionally, technological advancements by significant competitors in the field of endoscopic equipment are boosting the stakes even higher. Furthermore, R&D of new endoscope techniques is expected to provide appealing development opportunities for global industry businesses. For example, in June 2020, Xenocor, Inc. was issued a patent for the Xenoscope Single-use Laparoscopic System, which provides critical protection for components used in the reusable sight, preventing fogging and increasing the clarity of the system's producing photos.
The endoscopy appliances market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In line with the analyzed region, the North American region will witness the highest market share followed by Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America dominates the endoscopic device market, owing to the increased prevalence of chronic diseases such as diabetes, cancer, and cardiovascular ailments, as well as functional gastrointestinal problems. Further, Advantageous reimbursement regulations, as well as an rising geriatric population with long-term medical concerns, are helping to fuel market expansion in North America region. The major companies operating within the market are are Boston Scientific Corporation, Conmed Corporation, Cook Group Incorporated, Ethicon Endo-surgery LLC, Johnson & Johnson, Olympus Corporation, Olympus Corporation, Richard Wolf GmbH, Smith & Nephew Inc., Stryker Corporation.
