The global Endoscopy Equipment market estimated at US$43.9 billion in the year 2022 is now projected to grow at a CAGR of 7.25% and reach US$66.8 billion by 2028.
The research report provides a comprehensive review of market trends (Technology, Product and Application analysis), market growth drivers, PEST Analysis (Political, Economic, Social and Technological Analysis) Market growth inhibitors, and strategic industry activities and SWOT Analysis of key players in the market. The report provides market estimates and forecast for geographic markets such as the North America (United States, Canada, Mexico and Rest of North America), South America (Brazil, Argentina Chile Colombia Peru Venezuela Ecuador and Rest of South America), Europe (Germany, France, U.K., Russia, Italy, Spain, Sweden, Netherlands, Poland, Austria, Belgium, Finland, Norway, Switzerland, Denmark, Czech Republic, Portugal and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Taiwan, India, Australia, Indonesia, Philippines, Malaysia and Rest of Asia-Pacific), Middle East (Iran, Turkey, Kuwait, UAE, Israel, Oman, Bahrain, Saudi Arabia, Qatar, Egypt and Rest of Middle East) & Africa.
North American endoscopy equipment market is expected to grow significantly over the forecast period 2022-2028. Technologically advanced endoscopes, rising numbers of FDA approvals, and high healthcare expenditure will further drive the market growth in the region. U.S. contributed around 78% of the total North American endoscopy equipment market and is estimated to have a market value of US$11.48 billion in the year 2022. Among the other noteworthy geographic markets are Canada and Mexico, each forecast to grow at 6.79% and 5.49% respectively over the forecast period.
Asia-Pacific endoscopy equipment market is anticipated to witness an upsurge owing to the rising popularity of minimally invasive procedures and the high incidence of chronic gastrointestinal diseases with the rapidly aging population in the region. The geriatric population is at a greater susceptibility to the chronic diseases and thus, the adoption of endoscopic intervention is higher among the older patients. China is expected to dominate the Asia-Pacific market and reach a market size of US$11.42 billion by 2028.
Within Europe, Germany, Italy, Spain and France are the key countries responsible for the significant growth of the regional market. The highly advanced healthcare infrastructure and the growing prevalence of lung, and colorectum cancer among the European population are the main factors stimulating the development of the endoscopy equipment market in this region. Germany is expected to grow at a fastest CAGR of 6.94% over the forecast period.
Meanwhile, the Middle East & Africa is expected to show limited growth due to the strong presence of under-developed countries in Africa who are still struggling to meet technology standards. However, any growth that the region experiences is expected to come from developing nations such as Qatar, U.A.E, Saudi Arabia and Oman due to a similar growth pattern as the Asia Pacific.
Key players profiled in the report include B. Braun Melsungen Ag; Boston Scientific; Cook Medical; Ethicon; Fujifilm; Hoya Corporation; Karl Storz; Machida Endoscope Co., Ltd; Medtronic; Olympus Corporation; PENTAX Medical; Richard Wolf GmbH; Smith & Nephew plc and Stryker, among others.
Research Methodology
