Overview and Scope
Flexible endoscopes refer to an endoscope that uses elastic, transparent fibers to transmit light and images back to the observer. It is an inspection instrument that allows healthcare professionals to examine and treat various body parts from the inside. Flexible endoscopes are essential for minimally invasive procedures, enabling quicker recovery times, reduced risks and better patient outcomes than traditional open surgeries.
Sizing and Forecast
The flexible endoscopes market size has grown strongly in recent years. It will grow from $8.95 billion in 2023 to $9.7 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to advancements in medical technology, rising prevalence of gastrointestinal diseases, diagnostic and treatment advancements, global healthcare access.
The flexible endoscopes market size is expected to see strong growth in the next few years. It will grow to $12.94 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to personalized medicine, telemedicine and remote procedures, patient education and awareness, reimbursement policies. Major trends in the forecast period include artificial intelligence integration, capsule endoscopy, 3d imaging, endoscopy in pediatric care.
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Segmentation & Regional Insights
The flexible endoscopes market covered in this report is segmented –
1) By Product: Fiberscope; Video Endoscope
2) By Application: GI Endoscopy; Pulmonary Endoscopy; ENT Endoscopy; Obstetrics or Gynecology; Urology; Other Applications
3) By End User: Hospitals; Ambulatory Surgery Centers; Other End Users
North America was the largest region in the flexible endoscopes market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in flexible endoscopes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The rising prevalence of chronic diseases is expected to propel the growth of the flexible endoscopes market going forward. Chronic diseases are long-term medical conditions that persist over an extended period and often progress slowly. Flexible endoscopes offer early identification and reliable diagnosis of a variety of chronic disorders, including respiratory, gastrointestinal (GI) and urological diseases, by providing direct viewing. They are also utilized for therapeutic interventions in chronic diseases. For instance, in January 2023, according to the National Center for Biotechnology Information, a US-based division of the National Library of Medicine (NLM), which is part of the National Institutes of Health (NIH), there will be 142.66 million people aged 50 and older in 2050 who have at least one chronic disease, up from 71.522 million in 2020, indicating a 99.5% rise. Simultaneously, it is anticipated that the number of people with multimorbidity will rise by 91.16%, from 7.83 million in 2020 to 14.97 million in 2050. Therefore, the increase in the prevalence of chronic diseases is driving the growth of the flexible endoscopes market.
Key Industry Players
Major players in the flexible endoscopes market are Medtronic PLC, Fujifilm Holdings Corporation, Becton Dickinson and Company, Stryker Corporation, Boston Scientific Corporation, AB SKF, Olympus Corporation, HOYA Corporation, Smith & Nephew PLC, Micro-Epsilon Messtechnik GmbH & Co. KG, EndoChoice International, Pentax Medical, Ambu Inc., Richard Wolf GmbH, Welch Allyn Inc., Cooper Surgical Inc., Ethicon Endo-surgery LLC, Vimex Endoscopy, Endo-Flex GmbH, Machida Endoscope Co Ltd., XION GmbH, Huger Medical Instrument Co. Ltd., Endomed Systems Gmbh, Karl Storz GmbH & Co. KG., Laborie Medical Technologies Inc., ACMI Corporation.
The flexible endoscopes market report table of contents includes:
1. Executive Summary
2. Flexible Endoscopes Market Characteristics
3. Flexible Endoscopes Market Trends And Strategies
4. Flexible Endoscopes Market – Macro Economic Scenario
5. Global Flexible Endoscopes Market Size and Growth
….
30. Flexible Endoscopes Market Competitive Landscape And Company Profiles
31. Flexible Endoscopes Market Other Major And Innovative Companies
32. Global Flexible Endoscopes Market Competitive Benchmarking
33. Global Flexible Endoscopes Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Flexible Endoscopes Market
35. Flexible Endoscopes Market Future Outlook and Potential Analysis
36. Appendix
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