Global Flexible Endoscopes Market Demand is predicted to rise at a 6.4% CAGR to US$ 16.73 billion by 2033, from US$ 8.98 billion in 2023.
The increased demand for Flexible Endoscopes used in gastrointestinal investigations is expected to significantly drive market growth.
Living standards have expanded globally, resulting in greater spending on medical services and infrastructure. As a result of the widespread growth of chronic diseases, people are becoming more aware of the significance of routine check-ups and being diagnosed for the presence of any sickness.
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Flexible endoscopes have become an essential tool for inspecting gastrointestinal tracts for signs of illness. The increased popularity of this type of diagnosis, particularly among these countries’ senior populations, is driving the global market in developed economies.
The newly developed flexible endoscopy techniques, which are likely to boost the use of Flexible Endoscopes, provide a clearer view of the colon while increasing patient comfort over existing endoscopic techniques used in a variety of hospitals and clinics.
Key Takeaways
- The United States is estimated to account for around 33.0% of the global market in 2023.
- In 2023, Germany is predicted to have 7.4% of the global market.
- In 2023, China is estimated to account for 7.0% of the global market.
- In 2023, colonoscopes are expected to account for 22.7% of the global market.
- By the end of 2023, the gastrointestinal (GI) endoscopy segment is expected to be the most profitable, accounting for approximately 32.3% of the global market.
- According to end users, hospitals will generate 62.2% of income in 2023.
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Competitive Landscape:
Becton, Dickinson and Company, Boston Scientific Corporation, Cooper Surgical, Endomed Systems, Fujifilm Corporation, Hoya Corporation, Karl Storz, Laborie Medical Technologies, Olympus Corporation, Richard Wolf GmbH, Stryker Corporation, Smith & Nephew, Inc., Pentax Medical, Ambu, Inc., Machida Endoscope Co.
These market players focus on strategic advancements, such as collaborations, new product launches and commercialization, and vertical integration to expand their businesses. Furthermore, these companies are extensively spending on R&D operations, which allows them to innovate and capitalize on these products, resulting in increased market revenue.
- In August 2021, the FDA approved Boston Scientific’s EXALT Model B Single-Use Bronchoscope. This bronchoscope was created to be a replacement for reusable bronchoscopes. The company was able to expand its Flexible Endoscopes offering across numerous care settings due to this clearance.
- In January 2021, Olympus Corporation announced the acquisition of Quest Photonic Devices to strengthen its position in the surgical endoscopy sector. This strategic move bolstered Olympus’ position as a global pioneer while also expanding the company’s client base.
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Key Segment
By Product Type:
- Fiberscope
- Video Endoscope
By Application:
- GI Endoscopy
- Pulmonary Endoscopy
- ENT Endoscopy
- Obstetrics or Gynecology
- Urology
- Others
By End User:
- Hospitals
- Ambulatory Surgery Centres
- Others
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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