Flexible Endoscopes Market By Product (Flexible Endoscopes, Capsule Endoscopes, Robot-Assisted Endoscopes, Rigid Endoscopes, Disposable Endoscopes) By Application(Arthroscopy, Urology Endoscopy, Laparoscopy, Gastrointestinal (GI) Endoscopy, Bronchoscopy, Mediastinoscopy) - Growth, Share, Opportunities & Competitive Analysis, 2016 - 2028

About this report

The global Flexible Endoscopes Market report explores the critical analysis of the flexible endoscopes industry using key parameters. The report consists of investment strategies, the need for investments in the flexible endoscopes industry, and the multiple benefits for the investors. Importantly, this report sets out major changes in the flexible endoscopes industry's global technical regulations and how economic and non-economic barriers are helping the market grow. Moreover, the report examines historic and forecasted market sizes at the global, regional, and country levels. The report also examines key investment propositions, the demand and supply gap, SRC analysis, competitor positioning, STAR analysis, and Tornado analysis. Key technological advancements and other analyses, including Porter's Five Forces, Value Chain, PESTEL, etc.


Key Highlights of the report

How are the major segments performing in the Flexible Endoscopes Market?

The flexible endoscopes segment led the market in terms of product in 2021 and is expected to continue throughout the projection period. The high adoption rate of this equipment by end users, the growing preference of patients and physicians for minimally invasive procedures, and ongoing developments in endoscopy technologies all contribute to this segment's large share. Flexible endoscopes are also popular due to their low cost, safety, and high efficiency.

The gastrointestinal (GI) endoscopy application segment dominated the market in 2021, owing to the rising global geriatric population and the increased burden of functional gastrointestinal disorders. Additional factors contributing to the segment's growth include an increase in the number of upper gastrointestinal procedures performed and a rise in the use of endoscopes for diagnosing and treating gastrointestinal diseases.

The hospital end-user segment dominated the market in 2021 due to the widespread use of endoscopes and the increased number of hospital surgeries. Moreover, cumulative private and government subsidies and an increasing trend among patients and physicians to perform endoscopic procedures in a hospital-based setting are driving growth. Reimbursement policies and favorable infrastructure are also supportive of segment growth.

Which region dominated the Flexible Endoscopes Market?

In 2021, North America held a dominant position in the global market for flexible endoscopes due to the region's high geriatric population, rising use of elective endoscopic procedures, and increased healthcare expenditures. Moreover, the high prevalence of cancer and functional gastrointestinal disorders in the United States is expected to drive the market further over the forecast period. As per the American Cancer Society, nearly 1.9 million new cancer cases are expected to be diagnosed in the United States in 2022. The increasing number of product launches in the United States also drives the North American endoscopes market. For example, FUJIFILM Medical Systems U.S.A. Inc. introduced its 700 Series Endoscopes in July 2019.

What is the competitive environment of the Flexible Endoscopes Market?

The market's major players plan to invest more in developing advanced technological devices. The growing demand for various types of flexible endoscopes increases market players' competition to expand their product offerings and global presence. Moreover, top market players have used key industrial strategies to increase their market shares, such as mergers, collaborations, and acquisitions. For instance, Olympus Corporation purchased quest Photonic Devices in January 2021. The acquisition led to the company's business in the market for surgical endoscopy growth. This strategic move expanded the customer base, enhancing Olympus Corporation's position in the flexible endoscope industry. Boston Scientific, on the other hand, received FDA clearance for the EXALT Model B Single-Use Bronchoscope in August 2021. The EXALT Model B Single-Use Bronchoscope is the most recent advanced flexible bronchoscopy device. It is intended for use in the intensive care unit and to keep airways clear during complex respiratory procedures such as placing a double-lumen tube.

Executive Summary

What are all technical developments being developed in the Flexible Endoscopes Market?

Technological advancements are the key industry trend driving the flexible endoscopes market growth. Companies heavily focused on emerging economies include Olympus, Medtronic, Hoya Group, Karl Storz, and Fujifilm Holdings, owing to huge growth potential and a large patient base. Advances in medical-optics technology used in endoscopic devices are expected to drive demand for flexible endoscopes. The growing trend of manufacturing small endoscopic devices, the transition to HD (High Definition) and 3D systems, and the increasing use of micro endoscopes are generating huge demand for the market growth. Minimally invasive surgery (MIS) has increased as these procedures involve techniques that reduce the size and number of cuts or incisions on the body. Endoscopies are minimally invasive procedures involving body orifices such as the mouth. Thus, flexible endoscopies have been widely used for diagnostic and therapeutic purposes worldwide. Manufacturers of flexible endoscopy equipment have turned their attention to implementing flexible intubation video endoscope technologies to stay competitive. For instance, in June 2018, Olympus introduced the ENDOEYE 3D video endoscope, which enables faster and more precise endoscopic surgery by utilizing a 3D imaging technology system to assist in depth perception. Similarly, Smith & Nephew Plc (UK) launched the Real Intelligence suite of enabling technology solutions in Australia and New Zealand in June 2021, including the next-generation robotics platform and the CORI Surgical System.

Which are the key investments by the players in the Flexible Endoscopes Market?

Medical and Hospital facilities are heavily investing in installing flexible endoscope cameras with smartphone technologies to provide better patient care, driving the demand for flexible endoscopes. Several companies and governments plan to expand their operations by opening new training facilities, establishing greenfield operations, or looking into the new acquisition or joint venture opportunities to meet the rising demand for flexible endoscopes in their geographic areas. For instance, in May 2021, Olympus Corporation (Japan) paid USD 300 million to acquire Medi-Tate Ltd. (Israel). The acquisition enabled Olympus to offer in-office treatments for benign prostatic hyperplasia (BPH). Also, the Scottish Government launched the Endoscopy Action Plan in March 2019 and invested £6 million. The Endoscopy Action Plan is designed for cancer patients. The government will use the funds to fund emerging technologies, additional health centers, and staff training.

Some of the major players in the market are Fujifilm Holdings Corporation, Karl Storz GmbH & Co. KG, Olympus Corporation, Conmed Corporation, Boston Scientific Corporation, Medtronic Plc, Hoya Corporation, Johnson & Johnson, Stryker Corporation, and Smith & Nephew Plc.

What are the Major Driving Factors for the Flexible Endoscopes Market?

Major factors driving the market growth are the increasing prevalence of chronic disorders and the rising awareness of disease detection through minimally invasive surgical procedures. Flexible endoscopic procedures are widely used to diagnose and treat functional gastrointestinal illnesses. Moreover, favorable reimbursement policies and increased FDA approvals for flexible endoscopic devices are expected to propel market growth over the forecast period.

What are the Major Risks for the Flexible Endoscopes Market?

The fragility of the devices, expensive products, and other aspects, such as few products providing lower quality images than other endoscopic devices, are restraining the market growth. Strict regulatory requirements for flexible endoscopes also impede market growth. Both national and international governments heavily regulate the healthcare sector. Any new development in flexible video endoscopes requires higher investment to gain market approval as every piece of equipment and device used in the healthcare industry must pass the necessary quality checks and viability tests.

Which is the key Product in the Flexible Endoscopes Market?

The flexible endoscopes segment dominated the market in terms of products in 2021, owing to the growing preference for improved safety, ergonomics, and efficacy over rigid endoscopes. It is attributed to healthcare professionals' increasing preference for it as a first-line therapeutic option due to its ability to be performed under sedation. Flexible endoscopes are also used in laparoscopy, gastrointestinal endoscopy, arthroscopy, obstetrics/gynecological endoscopy, urology endoscopy, bronchoscopy, mediastinoscopy, otoscopy, and laryngoscopy. As a result, their adoption rises, accelerating the segment's expansion.

How are the Flexible Endoscopes Market performing in regions?

North America dominated the global flexible endoscopes market in 2021 and is expected to continue this dominant position over the forecast period. The prevalence of chronic diseases, an increase in the elderly population, a high acceptance rate of technically cutting-edge endoscopy devices, and a high level of responsiveness regarding the financial benefits of endoscopy interventions are all attributed to this regional growth. Other factors propelling the region's flexible endoscope market include the widespread availability of technologically advanced flexible endoscopes and product launches. For instance, Ambu Inc. received approval from Health Canada in April 2021 for the aScope 4 Cysto, a cutting-edge, flexible platform for cystoscopes used in urology. As a result, regulatory body approval of products is anticipated to impact market growth significantly.

Besides, the Asia Pacific is expected to be the fastest-growing regional market during the forecast period. The prevalence of patients with functional gastrointestinal disorders is a major contributor to this growth. Other regional market growth factors include a growing senior population and improved healthcare infrastructure. Moreover, the region's rapid economic development and increased government healthcare investments are expected to attract foreign investment. In addition, the adoption of endoscopes is being accelerated by the presence of major players in the Asia Pacific, which in turn is fostering regional market expansion.

What is the regulatory landscape for the Flexible Endoscopes Market?

The growing number of regulatory approvals for flexible endoscopes is a major market driver. The market's competitive landscape is characterized by strategic product improvements and product range expansions by industry players. For instance, in April 2021, the FDA approved the GI Genius Intelligent Endoscopy Module manufactured by Medtronic Plc (Ireland) in the United States. Similarly, Boston Scientific Corporation received FDA approval for its EXALT Model D Single-Use Duodenoscope in November 2019. This device was designed for endoscopic surgery and duodenal endoscopy. Governments and organizations are enacting stringent regulatory standards to aid in the development of safe and effective medical endoscopy devices. New regulatory regulations governing the use of medical devices are constantly being implemented in the United States, Canada, and the European Union.

What is the Market Size of the Flexible Endoscopes regarding value?

The global flexible endoscopes market is anticipated to grow at a substantial CAGR of 6.7% in the upcoming years. The global flexible endoscopes industry was estimated to be worth USD 5328.4 million in 2021 and was expected to be worth USD 7862.91 million by 2028.

What are the major players planning for the future of the Flexible Endoscopes Market?

Medical technology innovation continues to shape the future of healthcare systems. Flexible video endoscopes and fiberscopes have seen significant advancements in recent years. Nanotechnology and other cutting-edge technologies are also used to reduce inflammation and infection risk, ultimately improving procedure success rates. Rapid technological advancements generate a positive outlook for the global flexible endoscopes market. Industry participants also prioritize research and development activities to commercialize advanced flexible endoscope components and develop cutting-edge medical and healthcare technologies. For instance, Karl Storz received FDA approval in November 2021 for the Flexible Intubation Video Endoscope, which is intended for diagnostic, endotracheal intubation, and therapeutic procedures. This move increased the firm's global market presence while broadening its patient base.

Segmentation of Global Flexible Endoscopes Market -

Global Flexible Endoscopes Market – By Product

  • Flexible Endoscopes
  • Capsule Endoscopes
  • Robot-Assisted Endoscopes
  • Rigid Endoscopes
  • Disposable Endoscopes

Global Flexible Endoscopes Market – By Application

  • Arthroscopy
  • Urology Endoscopy
  • Laparoscopy
  • Gastrointestinal (GI) Endoscopy
  • Bronchoscopy
  • Mediastinoscopy
  • Gynecology Endoscopy
  • Otoscopy
  • Laryngoscopy
  • Other Applications

Global Flexible Endoscopes Market – By End-Use

  • Ambulatory Surgery Centers
  • Hospitals
  • Other

Global Flexible Endoscopes Market – By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • Germany
    • France
    • The U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of the Middle East and Africa

Frequently asked questions about the global Flexible Endoscopes Market

The flexible endoscopes market also moderately suffered from the COVID-19 pandemic, which resulted in a decline of over 1.8% in revenue generated in 2020.

North America accounted for the highest share in the global flexible endoscopes market regarding value and volume.

Major factors driving the market growth are the increasing prevalence of chronic disorders and the rising awareness of disease detection through minimally invasive surgical procedures. Moreover, favorable reimbursement policies and increased FDA approvals for flexible endoscopic devices are expected to propel market growth over the forecast period.

The flexible endoscopes segment had a major share in 2021, with more than 46.5% of the market revenue. Besides, disposable endoscopes are projected to witness the fastest growth.

Hospitals had a major share in the global market in 2021 and are projected to continue their dominance over the forecast period.

Flexible Endoscopes Market Scope

Report Attribute Details
Market Value in 2021 USD 5328.4 million
Market Value in 2028 USD 7862.91 million
CAGR 6.7%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
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Published Date:  Sep 2022
Category:  Medical Devices
Report ID:   60660
Report Format:   PDF
Pages:   130
Rating:    4.1 (40)
Delivery Time: 24 Hours to 48 Hours   
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