Flexible Endoscopes Market Demand is expected to grow at a 6.4% CAGR to US$ 16.73 billion by 2033, up from US$ 8.98 billion in 2023.
The rising demand for Flexible Endoscopes used in gastrointestinal investigations is likely to considerably fuel market expansion.
Globally, living standards have risen, resulting in increased spending on medical services and infrastructure. People are becoming increasingly aware of the importance of routine check-ups and being diagnosed for the presence of any illness as a result of the extensive development of chronic diseases.
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Flexible Endoscopes have become an indispensable tool for examining gastrointestinal tracts for indicators of sickness. The global market in developed economies is being driven by the growing popularity of this sort of diagnosis, particularly among these countries’ senior populations.
The newly developed flexible endoscopy techniques, which are expected to increase the usage of Flexible Endoscopes, provide a sharper view of the colon while providing greater patient comfort than existing endoscopic techniques utilised in a variety of hospitals and clinics.
Key Takeaways
- In 2023, the United States is expected to represent around 33.0% of the global market.
- Germany is expected to have 7.4% of the global market in 2023.
- China is expected to account for 7.0% of the worldwide market in 2023.
- Colonoscopes are estimated to account for 22.7% of the global market in 2023.
- The gastrointestinal (GI) endoscopy segment is predicted to be the most profitable by the end of 2023, accounting for approximately 32.3% of the global market.
- According to end users, the hospitals category would account for 62.2% of revenue in 2023.
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Competitive Landscape:
Becton, Dickinson and Company, Boston Scientific Corporation, Cooper Surgical, Endomed Systems, Fujifilm Corporation, Hoya Corporation, Karl Storz, Laborie Medical Technologies, Olympus Corporation, Richard Wolf GmbH, Stryker Corporation, Smith & Nephew, Inc., Pentax Medical, Ambu, Inc., Machida Endoscope Co.
These market players focus on strategic advancements, such as collaborations, new product launches and commercialization, and vertical integration to expand their businesses. Furthermore, these companies are extensively spending on R&D operations, which allows them to innovate and capitalize on these products, resulting in increased market revenue.
- In August 2021, the FDA approved Boston Scientific’s EXALT Model B Single-Use Bronchoscope. This bronchoscope was created to be a replacement for reusable bronchoscopes. The company was able to expand its Flexible Endoscopes offering across numerous care settings due to this clearance.
- In January 2021, Olympus Corporation announced the acquisition of Quest Photonic Devices to strengthen its position in the surgical endoscopy sector. This strategic move bolstered Olympus’ position as a global pioneer while also expanding the company’s client base.
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Key Segment
By Product Type:
- Fiberscope
- Video Endoscope
By Application:
- GI Endoscopy
- Pulmonary Endoscopy
- ENT Endoscopy
- Obstetrics or Gynecology
- Urology
- Others
By End User:
- Hospitals
- Ambulatory Surgery Centres
- Others
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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