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The Endoscopy Equipment Market is projected to reach $59.9 billion by 2029, growing at a CAGR of 5.9% from 2022 to 2029. Endoscopy procedures, which involve minimally invasive examinations of internal organs or tissues, utilize various tools and equipment to ensure safe and successful outcomes. These devices are introduced through natural openings, incisions, or cavities, with applications ranging from gastroenterology to arthroscopy.
Endoscopy equipment plays a crucial role for medical professionals such as gynecologists, neurologists, gastroenterologists, and others. The market is expanding due to the increasing incidence of diseases requiring endoscopies, advancements in technology, and a preference for minimally invasive procedures. Emerging economies are also expected to contribute significantly to market growth.
The surge in diseases necessitating endoscopic treatments, including cancer and gastrointestinal disorders, propels market growth. Minimally invasive endoscopies offer benefits such as reduced pain, simpler pre and post-operative care, and shorter recovery times, making them preferable to conventional open surgeries.
The endoscope segment is expected to generate the highest revenue in 2022.
Factors contributing to its market share include the preference for minimally invasive surgeries, the increasing prevalence of target diseases, and the recurrent use and purchase of endoscopes compared to other equipment.
In 2022, the upper gastrointestinal (GI) endoscopy segment is estimated to hold the largest market share.
This segment is crucial for diagnosing and treating conditions like ulcers, cancers, and celiac diseases, contributing to its significant market presence.
The hospitals & clinics segment is projected to account for the largest share of the market in 2022.
Factors driving this include the prevalence of diseases requiring targeted therapies, availability of reimbursements for surgeries, and the preference for hospitals & clinics for primary care.
The Asia-Pacific region is expected to be the fastest-growing market, attributed to factors such as increased awareness of early disease diagnosis, rising healthcare spending, advancements in healthcare infrastructure, a growing number of hospitals, and an aging population with chronic diseases.
Major players in the global endoscopy equipment market include Boston Scientific Corporation, Johnson & Johnson Services, Inc., Richard Wolf GmbH, FUJIFILM Holdings Corporation, Olympus Corporation, Stryker Corporation, Medtronic Private Limited, Nipro Corporation, MEDIVATORS B.V., HOYA CORPORATION, and The Cooper Companies, Inc.
The scope of the report covers various types of endoscopy equipment, applications, end users, and geographical regions, providing a comprehensive analysis of the market landscape.
The Endoscopy Equipment Market is projected to reach $59.9 billion by 2029.
The global market is projected to grow at a CAGR of 5.9% during the forecast period, 2023-2029.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65528
Published on :
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