The Global Endoscopy Video Systems Industry is poised for remarkable growth, with a projected positive Compound Annual Growth Rate (CAGR) of 6.6% from 2022 to 2032. The market is anticipated to achieve an estimated value of US$ 45.65 billion by 2032, a substantial increase from its 2022 valuation of US$ 24.09 billion.
An endoscopy video system encompasses a comprehensive array of components, including printers, monitors, displays, light sources, and more, all working synergistically to elevate the overall quality of images and videos produced during endoscopic procedures.
One of the key drivers behind the surge in demand for endoscopy video systems is the enhanced medical options they offer to patients grappling with various conditions, such as gastrointestinal issues, pancreatic disorders, and urological, gynecological, and respiratory ailments. The prevalence of these medical conditions is on the rise, contributing significantly to the escalating demand for advanced endoscopic technologies.
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The increasing prevalence of colorectal cancer, pancreatic abnormalities, gastrointestinal disorders, urological and gynecological issues, and respiratory conditions propel the demand for the endoscopy video system. Colorectal cancer is the second most common cancer in women and the third most common cancer in men. This aspect augments the global sales of endoscopy video systems. Moreover, the growing need for endoscopic procedures will fuel market growth. The rising elderly population also amplifies the number of patients needing endoscopic operations which will bode well for the overall market growth. As more and more patients- along with clinicians- become aware of the use and attributes of modern endoscopic technologies, the market for endoscopy video systems will also grow.
Endoscopy video systems offer a faster recovery time and a minimally invasive medical procedure. The rising awareness of such attributes of these video systems among patients and physicians will encourage market growth for endoscopy video systems. A surge in orthopedic and ophthalmic conditions will also spur the demand for these video systems.
The rapid development of technology has enhanced imaging capacities which, in turn, drives the demand for endoscopy video systems. Additionally, growing research and development efforts by key market participants to introduce innovative endoscopy video systems and constant product development activities by the same augur well for the international endoscopy video system market.
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Global Endoscopy Video Systems Industry Key Takeaways:
- North America will continue to dominate the endoscopy video system market owing to a surge in colorectal cancer cases.
- Europe’s endoscopy video system market will also present steady growth in revenue due to the rising elderly population.
- By product type, the endoscopic visualization systems segment accounted for the highest revenue share of 71.5% in 2020 and will continue to grow at a steady rate over the forecast period.
Global Endoscopy Video Systems Industry Competitive Landscape
Olympus, BR Surgical, Stryker Corporation, FujiFilm Global, CONMED Corporation, and Mindary, among others, are a few of the dominant players in the endoscopy video systems market profiled in the full version of the report.
In a competitive and fragmented environment, significant market players are focusing on product development and innovation so as to produce efficient endoscopy video systems. These businesses invest in research and development activities to seek out novel processes and technologies. A few of these participants also engage in mergers, acquisitions, joint ventures, collaborations, and partnerships to gain a competitive advantage.
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More Insights Into Global Endoscopy Video Systems Industry
FMI offers an unbiased analysis of the global endoscopy video systems market in its latest report, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032. The report offers a ten-year sales prospect and a complete breakdown of market drivers, restraints, trends, and opportunities. To understand the global market potential, growth, and scope, the market is segmented based on product type, end-user, application, and region.
According to FMI, based on segmentation, the endoscopic visualization systems will exhibit significant growth during this period of observation. The rising aging population and increasing endoscopic operations across the globe are responsible for the demonstrated growth of the segment. Based on region, the endoscopy video system market in North America will exhibit considerable growth. The target market in this region will account for a sizeable portion of the global revenue. Increasing cases of stomach and colorectal cancer, advancing medical technology, and the presence of key players will drive the endoscopy video system market in North America. Europe and East Asia will also aid the expansion of the global endoscopy video system market.
Global Endoscopy Video Systems Industry Key Players
- Olympus
- BR Surgical
- Stryker Corporation
- Mindary
- Fujifilm Global
- Boston Scientific
- Medtronic
- Smith & Nephew plc.
- Richard Wolf GmBH
- CONMED Corporation
- B.Braun Melsungen
Key Segments Covered in the Global Endoscopy Video Systems Industry Report
By Product:
- Endoscopic Video Systems
- Standard Definition (SD) Visualization Systems
- 2D Systems
- 3D Systems
- High Definition (HD) Visualization Systems
- 2D Systems
- 3D Systems
- Standard Definition (SD) Visualization Systems
- Endoscopy Video Components
- Camera Heads
- Insufflators
- Light Sources
- High Definition Monitors
- Suction Pumps
- Video Processors
By Application:
- Upper GI Endoscopy
- Colonoscopy
- Bronchoscopy
- Sigmoidoscopy
- ENT Endoscopy
- Others
By End User:
- Hospitals
- Specialty Clinics
- Diagnostic Imaging Centers
- Ambulatory Surgical Centers
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa (MEA)
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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