Global Flexible Endoscopy Market - 2024-2031

Overview

The global flexible endoscopy market reached US$ 7.56 billion in 2023 and is expected to reach US$ 11.73 billion by 2031, growing at a CAGR of 5.7% during the forecast period 2024-2031.

Flexible endoscopy is a medical procedure that involves the use of a flexible, long and thin tube known as an endoscope to visually examine the internal organs and cavities of the body. This technique allows healthcare professionals to diagnose, treat or monitor various conditions without the need for large incisions, making it a form of minimally invasive surgery. The endoscope is equipped with a light source, a camera and sometimes instrument channels to perform interventions. Unlike traditional surgery, flexible endoscopy involves smaller incisions or no incisions at all, reducing risks, pain and recovery time for patients.

The flexible endoscopy market is experiencing significant demand across a variety of medical specialties, driven by factors such as increasing incidence of chronic diseases, advancements in endoscopic technology, growing adoption of minimally invasive procedures and rising healthcare awareness globally. GI disorders, including colorectal cancer, inflammatory bowel disease (IBD) and gastroesophageal reflux disease (GERD), are major drivers for the demand for flexible endoscopy. For instance, according to the NIH, through diagnosis and management, endoscopy plays a role in nearly all GI diseases. It is estimated that more than 20 million GI endoscopies are performed yearly in the United States.

Market Dynamics: Drivers & Restraints

Growing preference for minimally invasive procedures

Growing preference for minimally invasive procedures is significantly driving the growth of the flexible endoscopy market and is expected to drive the market over the forecast period. Minimally invasive procedures performed using flexible endoscopes require smaller incisions or no incisions at all, resulting in less trauma to the body. This leads to faster recovery and reduced pain for patients compared to traditional surgeries.

For instance, in colonoscopy, the procedure involves a flexible endoscope inserted through the rectum. Patients typically recover much faster and with less discomfort than if they underwent an open surgery for colon cancer diagnosis.

The flexible endoscope is increasingly used in cancer screening, such as colonoscopy for colorectal cancer, which is a key application of minimally invasive procedures. Early detection and removal of precancerous growths reduce the need for more invasive treatments later on, making flexible endoscopy a preferred choice.

For instance, according to the World Cancer Research Fund, there were 1,926,425 new cases of colorectal cancer in 2022. Colorectal cancer is one of the most common cancers worldwide. Screening with colonoscopy allows for early detection and polyp removal, preventing the need for more invasive treatments.

High cost of flexible endoscopy

The high cost of flexible endoscopy is a significant factor hampering the growth of the flexible endoscopy market, as it presents challenges for both healthcare providers and patients. Several aspects of these costs including equipment purchase, maintenance and procedural expenses impact the accessibility and affordability of endoscopic procedures, limiting their widespread adoption.

Flexible endoscopes are sophisticated devices that require high-quality components, such as high-definition cameras, fiber-optic cables, light sources and advanced image processing systems. These features contribute to the high purchase cost of endoscopy equipment, depending on the specifications. For instance, according to Boston Scientific, the overall cost of reprocessing one flexible endoscope ranged from $114.07 to $280.71.

Segment Analysis

The global flexible endoscopy market is segmented based on product type, application, end-user and region.

Application:

The gastroenterology segment is expected to dominate the global flexible endoscopy market share

The gastroenterology segment holds a major portion of the flexible endoscopy market share and is expected to continue to hold a significant portion of the market share over the forecast period primarily driven by the high prevalence of gastrointestinal (GI) disorders, the increasing demand for early detection and screening of GI diseases and the use of minimally invasive procedures for both diagnostic and therapeutic purposes.

Gastrointestinal disorders, including colorectal cancer, irritable bowel syndrome (IBS), gastroesophageal reflux disease (GERD), and inflammatory bowel disease (IBD) are widespread globally. Flexible endoscopy plays a crucial role in diagnosing and managing these conditions, making gastroenterology the largest segment in the market.

For instance, according to the World Gastroenterology Organisation, While GI diseases remained very common (incidence 7.3 billion cases - largely due to enteric infections) and important (8 million deaths - cirrhosis a major factor) prevalence remained stable. Overall, 49% of females and 36.6% of males met the criteria for at least one functional gastrointestinal disorder - the most common disorders in all regions being functional constipation, functional dyspepsia, proctalgia fugax, functional diarrhea and IBS at prevalence rates of 11.7%, 7.2%, 5.9%, 4.7% and 4.1, respectively.

Additionally, Colorectal cancer (CRC) is one of the most common cancers worldwide, with about 1,926,425 new cases of colorectal cancer in 2022, and colonoscopy remains the gold standard for early detection. Flexible sigmoidoscopy and colonoscopy are key procedures used in the diagnosis and prevention of colorectal cancer.

North America is expected to hold a significant position in the global flexible endoscopy market

North America region is expected to hold the largest market share over the forecast period. North America, particularly the United States, is known for its state-of-the-art healthcare infrastructure, which includes hospitals, clinics and diagnostic centers equipped with the latest medical technologies, including advanced flexible endoscopes. The widespread adoption of high-definition flexible endoscopes, AI-assisted colonoscopy systems and robotic-assisted endoscopy technologies has significantly enhanced the accuracy and efficacy of endoscopic procedures in North America.

North America has some of the highest healthcare spending globally, particularly in the United States. For instance, according to the U.S. Centers for Medicare & Medicaid Services, U.S. healthcare spending grew 4.1 percent in 2022, reaching $4.5 trillion or $13,493 per person. As a share of the nation's Gross Domestic Product, health spending accounted for 17.3 percent. This high spending allows for the procurement of advanced medical devices, including flexible endoscopes.

North America has well-established cancer screening programs, particularly for colorectal cancer. The U.S. Preventive Services Task Force and other healthcare bodies recommend regular colonoscopy screenings for individuals over the age of 50. These screenings contribute significantly to the volume of flexible endoscopy procedures performed in the region.

For instance, according to the National Institute of Health, in the United States, the most commonly used colorectal cancer screening test was colonoscopy, with an estimated 61% of adults aged 50-75 years reporting colonoscopy use within the past 10 years, further fueling the demand for flexible endoscopy in the region.

Asia Pacific is growing at the fastest pace in the flexible endoscopy market

The Asia Pacific region is experiencing the fastest growth in the flexible endoscopy market. The prevalence of gastrointestinal diseases such as colorectal cancer (CRC), gastroesophageal reflux disease (GERD) and inflammatory bowel diseases (IBD) is rising in the Asia Pacific region, leading to an increased demand for flexible endoscopic procedures.

For instance, in China, colorectal cancer is also one of the most commonly diagnosed cancers. A recent study showed that colorectal cancer ranks second in incidence and fourth in mortality, with 408,000 cases and 196,000 deaths, and remains a major public health problem, this growing incidence of GI cancers drives demand for early detection through colonoscopy and other endoscopic procedures.

Competitive Landscape

The major global players in the flexible endoscopy market Becton, Dickinson and Company, KARL STORZ, Olympus Corporation, FUJIFILM Holdings Corporation, Boston Scientific Corporation, Richard Wolf GmbH, ATMOS MedizinTechnik GmbH & Co. KG, LABORIE MEDICAL TECHNOLOGIES CORP., EndoMed Systems GmbH, Entermed and among others.

Why Purchase the Report?

• Pipeline & Innovations: Reviews ongoing clinical trials, product pipelines, and forecasts upcoming advancements in medical devices and pharmaceuticals.
• Product Performance & Market Positioning: Analyzes product performance, market positioning, and growth potential to optimize strategies.
• Real-World Evidence: Integrates patient feedback and data into product development for improved outcomes.
• Physician Preferences & Health System Impact: Examines healthcare provider behaviors and the impact of health system mergers on adoption strategies.
• Market Updates & Industry Changes: Covers recent regulatory changes, new policies, and emerging technologies.
• Competitive Strategies: Analyzes competitor strategies, market share, and emerging players.
• Pricing & Market Access: Reviews pricing models, reimbursement trends, and market access strategies.
• Market Entry & Expansion: Identifies optimal strategies for entering new markets and partnerships.
• Regional Growth & Investment: Highlights high-growth regions and investment opportunities.
• Supply Chain Optimization: Assesses supply chain risks and distribution strategies for efficient product delivery.
• Sustainability & Regulatory Impact: Focuses on eco-friendly practices and evolving regulations in healthcare.
• Post-market Surveillance: Uses post-market data to enhance product safety and access.
• Pharmacoeconomics & Value-Based Pricing: Analyzes the shift to value-based pricing and data-driven decision-making in R&D.

The global flexible endoscopy market report would provide approximately 62 tables, 53 figures and 197 pages.

Target Audience 2023

• Manufacturers: Pharmaceutical, Medical Device, Biotech Companies, Contract Manufacturers, Distributors, Hospitals.
• Regulatory & Policy: Compliance Officers, Government, Health Economists, Market Access Specialists.
• Technology & Innovation: AI/Robotics Providers, R&D Professionals, Clinical Trial Managers, Pharmacovigilance Experts.
• Investors: Healthcare Investors, Venture Fund Investors, Pharma Marketing & Sales.
• Consulting & Advisory: Healthcare Consultants, Industry Associations, Analysts.
• Supply Chain: Distribution and Supply Chain Managers.
• Consumers & Advocacy: Patients, Advocacy Groups, Insurance Companies.
• Academic & Research: Academic Institutions.