Market Trends of Flexible Endoscopes Industry
Gastroscopy is Expected to Witness Significant Growth Over the Forecast Period
Gastroscopy involves the use of a flexible endoscope which aids in obtaining images of the lining of these organs. The major factor that drives the growth of this segment over the forecast period includes the surge in the incidence of chronic diseases that affect the upper digestive tract. Some of these include irritable bowel syndrome, dyspepsia, constipation, gastroesophageal reflux disorder (GERD), stomach cancer, and others.
In addition, the high incidence of stomach cancer majorly in the elderly population which is more susceptible to certain forms of gastrointestinal diseases is another factor that leads to a surge in demand for gastroscopy which in turn leads to a rise in demand for flexible gastroscopes. For instance, according to, the American Cancer Society 2023, about 26,500 new cases of stomach cancer (15,930 in men and 10,570 in women) are estimated to be diagnosed in the United States for the year 2023. Such a huge incidence of stomach cancer is anticipated to increase the endoscopic examination using flexible endoscopes, driving segment growth.
In addition, the growth of the segment is also contributed by technological advancements in the form of new product launches. This in turn leads to a surge in demand for novel and advanced gastroscopes among physicians thereby driving the growth of the market. For instance, in October 2021, FUJIFILM Corporation launched El-740D/S, a dual-channel endoscope. Fujifilm's EI-740D/S is the first dual-channel endoscope cleared by the United States Food and Drug Administration (FDA) for use in both upper and lower gastrointestinal applications. Furthermore, the product has special features incorporated by the company. For instance, The EI-740D/S was developed in close collaboration with Apollo Endosurgery, Inc., a medical technology company focused on less invasive therapies aimed at the treatment of gastrointestinal conditions. The collaboration ensured the compatibility of the endoscope with the OverStitch Endoscopic Suturing System. OverStitch enables advanced endoscopic surgery by allowing physicians to place full-thickness sutures from a flexible endoscope.
Hence, the huge incidence of stomach cancers and rising technological advancements in endoscopes lead to a surge in demand for flexible endoscopes for gastroscopy which thereby drives the growth of the market studied.
North America is Expected to Hold a Significant Market Share in the Flexible Endoscopes Market
North America is expected to hold a significant market share in the market studied due to the surge in the prevalence of chronic diseases, rising technological advancements in the region, the strong foothold of key market players, and sophisticated healthcare infrastructure, among others.
The region has a high prevalence of diseases such as stomach cancer, colorectal cancer, irritable bowel syndrome, and others. For instance, according to the Canadian Cancer Society in November 2022, in the year 2022, 233,900 people were estimated to be diagnosed with cancer, that include breast, prostate, and colorectal cancers among the most prevalent cancers. Furthermore, the surge in the geriatric population which is more susceptible to chronic diseases is another factor that drives the growth of the market in the region. For instance, according to the 2021 Senior Report published by United Health Foundation, 16.5% population of the United States was aged 65 years or above in the year 2021. In addition, this number is expected to reach 20% of the total population by the end of the year 2050.
Other factors that drive the growth of the flexible endoscope market in the region include the easy availability of technologically advanced flexible endoscopes and product launches. For instance, in April 2021, Ambu Inc. received Health Canada clearance for the aScope 4 Cysto, an innovative flexible cystoscope platform for urology. Therefore, the approval for products from regulatory bodies is expected to contribute significantly to the market growth.
Therefore, owing to the aforesaid factors such as the rising incidence of cancers and the geriatric population, the growth of the studied market is anticipated in the North America region.
