Market Size of Flexible Endoscopes Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 7.42 Billion |
Market Size (2029) | USD 9.88 Billion |
CAGR (2024 - 2029) | 5.86 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Flexible Endoscopes Market Analysis
The Flexible Endoscopes Market size is estimated at USD 7.42 billion in 2024, and is expected to reach USD 9.88 billion by 2029, growing at a CAGR of 5.86% during the forecast period (2024-2029).
COVID-19 significantly impacted market growth due to decreased nonurgent procedures during the pandemic. Furthermore, the decrease in endoscopic screening services was partially due to the rise in COVID-19-related emergencies among healthcare staff. However, the market has significantly increased during the late pandemic phase. For instance, according to the study published in the Journal of Gastroenterology and Hepatology in March 2021, there was a huge growth in flexible endoscopic procedures to carry out backlog procedures. Furthermore, the market is expected to show lucrative growth post-pandemic due to technological advancements and a rise in minimally invasive surgeries.
The major factors leading to the growth of the studied market include a surge in the prevalence of chronic diseases of the internal body systems, advantages of flexible microscopes over other counterparts, and a surge in awareness and demand associated with early diagnosis of chronic diseases.
Various chronic diseases such as inflammatory bowel diseases (IBD), stomach cancer, colon cancer, respiratory infections, respiratory tumors, and others require extensive use of endoscopes for diagnostic purposes. Thus, the rise in the prevalence of these diseases leads to a surge in demand for flexible endoscopes. For instance, according to the American Cancer Society 2023, the number of new cases in the United States are estimated to reach 153,030 for colorectal cancer in 2023. Furthermore, according to the American Lung Association estimates, 236,000 people in the United States were expected to be diagnosed with lung cancer in 2021. Thus, these chronic diseases' high incidence and prevalence lead to a surge in the demand for flexible endoscopes. This, in turn, drives the growth of the market studied.
The surge in adoption due to the advantages of flexible endoscopes over other counterparts also contributes to the market's growth. For instance, the most advantageous feature of an optical fiber endoscope is that the surgeon can operate its lens to change its direction and expand the scope of application.
In addition, there has been a rise in the adoption of minimally invasive surgery (MIS) as these procedures involve techniques that minimize the size and number of cuts or incisions made on the body. Furthermore, endoscopies are minimally invasive procedures that involve orifices of the body, such as the mouth. Thus, endoscopies have been significantly adopted globally for diagnostic and therapeutic purposes. This leads to a surge in demand for flexible endoscopes, thereby driving the market's growth.
Moreover, the rising initiatives from the key market players for the launch of flexible endoscopes is anticipated to propel the market growth due to the adequate availability of flexible endoscope. For instance, in August 2021, Boston Scientific received FDA approval for the EXALT Model B Single-Use Bronchoscope. EXALT Model B Single-Use Bronchoscope is the latest evolution in flexible bronchoscopy. In addition, in May 2021, EndoFresh received FDA approval for its Disposable Digestive Endoscopy System for gastrointestinal purposes.
Therefore, owing to the factors above, the studied market is anticipated to grow over the analysis period. However, stringent regulatory requirements for the flexible endoscope hinder market growth.
Flexible Endoscopes Industry Segmentation
As per the scope of the report, a flexible endoscope is defined as an optical instrument that transmits light and carries images back to the observer. Furthermore, these instruments are equipped with flexible transparent fibers. A flexible endoscope is used to diagnose and treat interior parts of the body. In addition, these instruments are also equipped with mechanisms for steering. These instruments may have additional ports that allow the collection of tissue samples or operative instruments along their axis to the internal site. The Flexible Endoscopes Market is Segmented by Product Type (Fiberscope and Videoscope), Procedure Type (Gastroscopy, Colonoscopy, Bronchoscopy, Ureteroscopy, and Others), End-User (Hospitals and Clinics, Ambulatory Surgical Centers, and Other End User), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD) for the above segments.
By Product Type | |
Fiberscope | |
Videoscope |
By Procedure Type | |
Gastroscopy | |
Colonoscopy | |
Bronchoscopy | |
Ureteroscopy | |
Other Procedure Types |
By End-User | |
Hospitals and Clinics | |
Ambulatory Surgical Centers | |
Other End Users |
Geography | ||||||||
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Flexible Endoscopes Market Size Summary
The flexible endoscopes market is poised for significant growth over the forecast period, driven by the increasing prevalence of chronic diseases and the advantages of flexible endoscopes over traditional counterparts. The market experienced a temporary setback due to the COVID-19 pandemic, which led to a decrease in nonurgent procedures and endoscopic screenings. However, the late pandemic phase saw a resurgence in demand as healthcare systems worked to address backlogs. Technological advancements and the rising adoption of minimally invasive surgeries have further fueled market expansion. The demand for flexible endoscopes is particularly strong in the diagnosis and treatment of chronic conditions such as inflammatory bowel diseases, stomach and colon cancers, and respiratory infections, which require extensive endoscopic procedures.
North America is expected to maintain a significant share of the flexible endoscopes market, supported by a robust healthcare infrastructure, technological advancements, and a high prevalence of chronic diseases. The region's market growth is also bolstered by the presence of key market players and the increasing geriatric population, which is more susceptible to chronic conditions. The market is moderately competitive, with several global and regional companies driving innovation and expanding their product offerings. Regulatory approvals for new products, such as Boston Scientific's LithoVue Elite single-use ureteroscope system, are anticipated to further propel market growth. Despite the promising outlook, stringent regulatory requirements pose challenges to market expansion.
Flexible Endoscopes Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rise in Prevalence of Chronic Diseases of Internal Body Systems
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1.2.2 Surge in Adoption Due to Advantages of Flexible Endoscopes Over Other Counterparts
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1.2.3 Incease is Awareness and Demand Associated with Minimally Invasive Procedures
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1.3 Market Restraints
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1.3.1 Stringent Regulatory Requirements
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Buyers/Consumers
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1.4.2 Bargaining Power of Suppliers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD)
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2.1 By Product Type
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2.1.1 Fiberscope
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2.1.2 Videoscope
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2.2 By Procedure Type
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2.2.1 Gastroscopy
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2.2.2 Colonoscopy
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2.2.3 Bronchoscopy
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2.2.4 Ureteroscopy
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2.2.5 Other Procedure Types
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2.3 By End-User
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2.3.1 Hospitals and Clinics
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2.3.2 Ambulatory Surgical Centers
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2.3.3 Other End Users
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Flexible Endoscopes Market Size FAQs
How big is the Flexible Endoscopes Market?
The Flexible Endoscopes Market size is expected to reach USD 7.42 billion in 2024 and grow at a CAGR of 5.86% to reach USD 9.88 billion by 2029.
What is the current Flexible Endoscopes Market size?
In 2024, the Flexible Endoscopes Market size is expected to reach USD 7.42 billion.