US Endoscopy Devices Market 2024–2033

Reports Description

US Endoscopy Devices Market was valued at USD 3.8 Billion in 2024 and is expected to reach USD 12.8 Billion by 2033, at a CAGR of 6.3% during the forecast period 2024 – 2033.

Endoscopy devices are instruments used in medical procedures to visualize and examine the interior of hollow organs or cavities within the body. They typically consist of a flexible or rigid tube equipped with a light source and camera, allowing physicians to view images of the internal organs in real time.

US Endoscopy Devices Market: Growth Factors

Preference towards minimally invasive surgical procedures

The preference towards minimally invasive surgical procedures has been a significant driving force behind the growth of the US endoscopy device market. Minimally invasive techniques offer numerous advantages over traditional open surgery, including reduced post-operative pain, shorter recovery times, lower risk of complications, and smaller incisions leading to less scarring.

These benefits have led to increased patient satisfaction and improved outcomes. Endoscopy devices play a pivotal role in minimally invasive procedures by providing surgeons with high-definition imaging capabilities and precise control during interventions.

These devices, such as endoscopes and associated tools, enable physicians to visualize internal organs and structures in real time, facilitating accurate diagnosis and targeted treatment.

Moreover, technological advancements in endoscopic devices, such as the development of smaller, more flexible scopes and improved imaging modalities like high-definition and 3D imaging, have further enhanced their utility and effectiveness in various medical specialties, including gastroenterology, pulmonology, urology, and gynaecology.

As a result, healthcare providers increasingly favour endoscopic techniques for their patients, driving the demand for endoscopy devices and fuelling growth in the US endoscopy device market.

Additionally, the shift towards outpatient settings and ambulatory surgical centers, where minimally invasive procedures are more feasible, has contributed to the expanding adoption of endoscopic technologies, further bolstering the market growth.

Increase in healthcare expenditure

The increase in healthcare expenditure in the United States is a key driving force behind the growth of the endoscopy device market. As healthcare spending rises, there is a corresponding demand for advanced medical technologies and procedures, including endoscopic procedures.

Endoscopy, which involves the use of specialized instruments to examine the interior of the body, has become increasingly important for both diagnostic and therapeutic purposes across a wide range of medical specialties.

With greater financial resources allocated to healthcare, there is a greater ability for healthcare facilities to invest in state-of-the-art endoscopy equipment, such as high-definition cameras, flexible scopes, and advanced imaging technologies.

Moreover, as the population ages and the prevalence of chronic diseases such as gastrointestinal disorders and cancer increases, there is a growing need for endoscopic procedures for early detection, diagnosis, and treatment.

This demographic trend, coupled with the expansion of healthcare coverage and the emphasis on preventive care, further fuels the demand for endoscopy devices.

Consequently, manufacturers of endoscopy devices are experiencing heightened demand, prompting them to innovate and develop new technologies to meet the evolving needs of healthcare providers and patients alike, thus contributing to the expansion of the US endoscopy device market.

US Endoscopy Devices Market: Restraints

High cost of production

The high cost of production significantly hinders the US endoscopy device market in multiple ways. Firstly, it impacts the affordability of endoscopic procedures for healthcare providers and patients alike, as the expenses associated with manufacturing are passed on to consumers.

This can result in higher prices for endoscopic equipment, consumables, and services, making it financially burdensome for healthcare facilities to invest in new technologies or upgrade existing equipment.

Consequently, smaller clinics or those in economically disadvantaged areas may struggle to afford the latest endoscopy devices, limiting access to advanced diagnostic and therapeutic procedures for patients in these regions.

Moreover, the high production costs can deter innovation and competition within the market, as companies may be reluctant to invest in research and development efforts or introduce new products due to the risk of insufficient returns on investment.

As a result, the pace of technological advancement in endoscopy may be slower than desired, potentially hindering the overall quality of patient care and outcomes. Additionally, the cost barrier may also discourage healthcare providers from adopting more efficient or minimally invasive endoscopic techniques, opting instead for traditional, less costly procedures.

Overall, the high cost of production presents a substantial challenge to the growth and accessibility of the US endoscopy device market, impacting healthcare delivery, innovation, and patient outcomes.

US Endoscopy Devices Market: Opportunities

Trend to disposable endoscopic components

The trend towards using disposable endoscopic components has significantly driven the US endoscopy device market for several reasons. Disposable components offer enhanced patient safety by reducing the risk of cross-contamination and infection transmission compared to reusable devices, aligning with stringent healthcare regulations and patient care standards.

Additionally, they eliminate the need for complex and time-consuming reprocessing procedures, streamlining workflow efficiency for healthcare facilities and reducing operational costs associated with cleaning, sterilization, and maintenance.

Furthermore, disposable components mitigate the risk of device damage or wear over time, ensuring consistent performance and reliability during procedures.

The convenience and reliability provided by disposable endoscopic components have resulted in increased adoption by healthcare providers seeking to enhance patient outcomes, minimize risks, and optimize operational efficiency, thereby propelling the growth of the US endoscopy device market.

US Endoscopy Devices Market: Segmentation Analysis

US Endoscopy Devices market is segmented by type and application.  Based on type, the market is classified into Endoscopes, Endoscopic Operative Devices, and Visualization Equipment. Endoscopes dominated the market in 2023 with a market share of 55.3% and are expected to keep their dominance during the forecast period 2024-2033.

Endoscopes play a pivotal role in propelling the US endoscopy device market due to their versatile application in medical diagnostics and procedures. These devices are equipped with miniature cameras and light sources, allowing healthcare professionals to visually examine internal organs and cavities without invasive surgery.

As the demand for minimally invasive procedures continues to rise, endoscopes offer significant advantages such as reduced patient discomfort, shorter recovery times, and lower risk of complications compared to traditional surgical methods.

Moreover, advancements in endoscopic technology, such as high-definition imaging and flexible scopes, have enhanced visualization and manoeuvrability during procedures, further driving their adoption.

The increasing prevalence of gastrointestinal disorders, cancers, and other medical conditions requiring diagnostic and therapeutic interventions has spurred the demand for endoscopes across various healthcare settings, including hospitals, ambulatory surgical centers, and clinics.

Additionally, the growing emphasis on preventive healthcare and early disease detection has led to a surge in routine screenings and surveillance endoscopies, contributing to the expansion of the endoscopy device market.

With ongoing research and development efforts focusing on improving endoscopic techniques, enhancing device capabilities, and expanding clinical indications, endoscopes are expected to continue shaping the landscape of medical diagnostics and treatment modalities in the United States.

Based on application, the market is classified into bronchoscopy, arthroscopy, laparoscopy, urology endoscopy, neuroendoscopy, gastrointestinal endoscopy, gynaecology endoscopy, ENT endoscopy and others. Gastrointestinal endoscopy dominated the market in 2023 with a market share of 22.1% and is expected to keep its dominance during the forecast period 2024-2033.

Gastrointestinal endoscopy has emerged as a pivotal driver in the US endoscopy device market due to its widespread adoption for both diagnostic and therapeutic purposes. This minimally invasive procedure involves inserting a flexible tube with a camera and light source through the mouth or rectum to examine the digestive tract. Its popularity stems from several factors.

Gastrointestinal endoscopy enables direct visualization of the gastrointestinal tract, allowing for accurate diagnosis of conditions such as ulcers, polyps, and cancers. Additionally, it facilitates therapeutic interventions such as polyp removal, tissue sampling (biopsy), and the management of gastrointestinal bleeding.

Moreover, advancements in endoscopic technology, including high-definition imaging, narrow-band imaging, and the development of specialized accessories and devices, have enhanced the precision and efficacy of procedures while minimizing patient discomfort.

As a result, there has been a growing demand for endoscopy devices, including endoscopes, accessories, and other related equipment, driving significant market growth.

The increasing prevalence of gastrointestinal diseases, coupled with rising awareness of the benefits of early detection and minimally invasive treatments, further fuels the expansion of the US endoscopy device market, making it a dynamic and lucrative sector within the broader medical device industry.

Report Scope

US Endoscopy Devices Market: Recent Developments

• In May 2023, Olympus Corporation received the US-FDA clearance of the EVIS X1 endoscopy system, along with two compatible gastrointestinal endoscopes: the GIF-1100 gastrointestinal video scope and the CF-HQ1100DL/I colonovideoscope.

• In January 2023, UC Davis Health launched a new endoscopy suite in the United States characterized by advanced technology and integrated care. This new suite area is more spacious to accommodate the growing volume of endoscopy procedures.

List of the prominent players in the US Endoscopy Devices Market:

• Olympus Corporation
• Ethicon Endo-surgery LLC.
• FUJIFILM Holdings Corporation
• Stryker Corporation
• Boston Scientific Corporation
• Karl Storz GmbH & Co. KG.
• Smith & Nephew Inc.
• Richard Wolf GmbH
• Medtronic Plc
• PENTAX Medical
• Machida Endoscope Co. Ltd
• Others

These key players are adopting various growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.

The US Endoscopy Devices Market is segmented as follows:

By Type

• Endoscopes
• Endoscopic Operative Devices
• Visualization Equipment

By Application

• Bronchoscopy
• Arthroscopy
• Laparoscopy
• Urology endoscopy
• Neuroendoscopy
• Gastrointestinal endoscopy
• Gynaecology endoscopy
• ENT endoscopy
• Others

By End-use

• Hospitals
• Outpatient Facilities