The endoscopy device market is projected to grow from US$ 30,457.18 million in 2022 to US$ 52,100.72 million by 2030; it is estimated to record a CAGR of 6.9% during 2022-2030.

The report highlights prevailing trends and factors driving the market growth. The market growth is attributed to the surging preference for minimally invasive surgeries and the increasing prevalence of cancer-driving endoscopy device market size and growth. Additionally, the use of artificial intelligence in gastroenterology is likely to emerge as a significant trend in the market during the forecast period. However, risks of infections associated with endoscopic procedures hinder market growth during the forecast period 2022-2030.

Increasing Demand for Minimally Invasive Techniques drives the market in the forecast period.

The growing demand for minimally invasive techniques in surgical procedures reflects a significant shift in medical practice and patient preferences. This trend is driven by the desire to minimize the invasiveness of procedures, reduce the associated risks, and promote faster recovery times. Endoscopy is a minimally invasive surgery procedure that involves a minimal incision size, shortened recovery time, and better visibility into the internal body cavity. A surgeon can visualize and work within the body cavity using an endoscope without making a large incision. Minimally invasive approaches typically involve smaller incisions and the use of specialized instruments and technologies to access different organs, which can lead to shorter hospital stays and less scarring.

Moreover, patients often experience less pain and a quicker return to their daily activities. Surgeons have embraced these techniques due to their potential benefits and advancements in medical devices and surgical skills. As a result, healthcare institutions are investing in training their medical teams and acquiring the necessary equipment to meet the increasing demand for minimally invasive endoscopy surgeries, thereby providing patients with improved treatment options and enhanced overall healthcare experiences.

The use of artificial intelligence is the upcoming endoscopy device market trend.

The application of artificial intelligence (AI) in gastrointestinal (GI) endoscopy is drawing huge attention owing to its potential to improve the quality of endoscopy at all levels, alongside reducing or nullifying human errors and bringing higher accuracy, consistency, and speed. AI has the advantage of ruling out or limiting inter-operator variability. It can compensate for the limited experience of beginner endoscopists and the errors of the most experienced endoscopists. In November 2019, AI Medical Service Inc., one of the early developers of real-time AI-enabled endoscopy devices, secured Breakthrough Device Designation from the US FDA for its AI programs that analyze endoscopy images for potential diagnosis of gastric cancer.

Over the past four decades, the incidence of esophageal adenocarcinoma (EAC) has risen rapidly due to the increasing prevalence of overweight. AI assistance shows promising results in improving the detection and diagnosis of esophageal adenocarcinoma (EAC), thus reducing the mortality and morbidity associated with a poor prognosis after diagnosing this malignancy at an advanced stage.

Recently, a few AI-driven endoscopy products have been approved for their usage worldwide. For instance, Ibex Medical Analytics developed the world's first AI platform to diagnose cancer. Its AI algorithms analyze biopsies' images, then locate them and grade the tumor. These results help pathologists diagnose gastric cancer accurately. In June 2021, the US FDA granted Breakthrough Device Designation to Ibex's Galen platform, which expedited the clinical review and regulatory approval of this platform. Galen Gastric is an integrated diagnostics and quality control solution that supports pathologists in the detection of gastric cancer, dysplasia, H. pylori infection, and other important clinical findings. In April 2021, Medtronic plc won a de novo clearance from the FDA for the GI Genius intelligent endoscopy module. GI Genius is a computer-aided detection (CADe) system that uses AI to highlight colon regions suspected of having visual attributes indicative of different types of mucosal abnormalities.

As AI continues to evolve, it holds promise for enhancing diagnostic precision, procedural efficiency, and patient-centered care with the help of endoscopy systems. Hence, AI use in gastroenterology will likely emerge as a new trend in the global endoscopy device market shortly.

Report Segmentation and Scope -

The "global endoscopy device market" is segmented based on product, application, and end user. The market is segmented into endoscopes, visualization systems, accessories, and other endoscopy devices based on product. The market for the endoscopes segment is further subsegmented into flexible endoscopes, rigid endoscopes, robot-assisted endoscopes, and capsule endoscopes. Visualization systems segment is sub-segmented as wireless displays and monitors, light sources, video processors, endoscopic cameras, video recorders, video converters, carts, transmitters and receivers, camera heads, and other instruments. The endoscopy device market for the other endoscopy devices segment is further segmented as electronic and mechanical instruments. The market for the accessories segment is sub-segmented into cleaning brushes, overtubes, surgical dissectors, light cables, fluid flushing devices, needle holders/needle forceps, mouthpieces, biopsy valves, and others. By application, the endoscopy device market is segmented into gastroscopy, laparoscopy, arthroscopy, otoscopy, urology endoscopy, bronchoscopy, laryngoscopy, and other applications. Based on end user, the market is segmented into hospitals, ambulatory surgical centers, and others.

By product, the endoscopes segment held the largest share of the endoscopy device market in 2022. The visualization systems segment is estimated to register the highest CAGR from 2022 to 2030. Visualization systems used in endoscopy procedures help obtain enhanced-quality images and videos. The visualization system in endoscopy procedures consists of components such as wireless displays and monitors, light sources, video processors, endoscopic cameras, video recorders, video converters, carts, transmitters and receivers, camera heads, and other instruments. Boston Scientific Corporation and KARL STORZ SE & Co. KG provide visualization systems in the endoscope devices market.

In terms of application, the gastroscopy segment held the largest share of the endoscope equipment market in 2022. Further, the laparoscopy segment is expected to record the highest CAGR from 2022 to 2030. Gastroscopy (also known as upper endoscopy) involves examining the upper gastrointestinal tract, which includes the esophagus, stomach, and duodenum (the beginning part of the small intestine). It diagnoses conditions such as ulcers, tumors, inflammation, and gastroesophageal reflux disease (GERD). Endoscopy devices designed for gastroscopy include flexible endoscopes with advanced imaging capabilities provided by high-definition cameras and optical enhancements.

Based on end users, the hospital segment held the largest share of the endoscopy device market in 2022. It is further expected to register the highest CAGR in the market during 2022-2030. Hospitals encompass a wide spectrum of medical facilities, ranging from community hospitals to large academic medical centers. They serve as major end users of endoscopy devices. The demand for endoscopy devices within hospital settings is mainly driven by a high footfall of patients into these facilities, which can be attributed to factors such as comprehensive care delivery, inpatient and outpatient services, and advanced procedures and interventions. Hospitals are equipped to perform complex endoscopic procedures, including surgeries, advanced imaging, and specialized therapeutic endoscopy. Endoscopes also examine the interior of hollow organs or cavities inside the body. A few endoscopic examinations are particularly performed in hospital settings. For instance, cystoscopies are typically performed in hospital outpatient settings. Ureteroscopy procedures for managing or removing kidney stones are performed in operating rooms. Similarly, most ENT endoscopies, such as examining a patient's nose or throat to assess breathing problems or swallowing difficulties, are performed in inpatient and outpatient hospitals.

The Globocan 2020, International Trade Administration (ITA), Frontiers Public Health in 2022, and The National Center for Biotechnology Information (NCBI) are a few of the major primary and secondary sources referred to while preparing the report on the endoscopy device market.