ENDOSCOPES MARKET ANALYSIS

Endoscopes MarketSize and Trends

The global endoscopes market was valued at US$ 29,151 million in 2017, and is expected to witness a CAGR of 6.6% over the forecast period (2018 – 2026).

Endoscope are routinely used to diagnose and treat gastrointestinal diseases such as ulcerative colitis, Crohn’s disease, pancreatic, chronic constipation, and other GI tract associated disease. Increasing prevalence of these diseases worldwide are propelling demands for sophisticated endoscope. According to a study published in the Lancet, in October 2017, around 319 (U.S.) and around 322 (Europe) cases of Crohn’s disease per 100,000 people were reported in the mentioned region. According to the journal of Gastroenterology’s on Inflammatory Bowel Disease (IBD) in 2017, around 1.6 million patient in the U.S were suffering from of IBD. Moreover, emerging economies such as China and India are witnessing high prevalence of these disease. For instance, China has high incidence of Inflammatory Bowel Disease with 344 patients per 100,000 population, according to epidemiological study published in 2013, in the Gastroenterology Journal. Increasing prevalence of different type of cancers worldwide are expected to propel growth of the endoscopes market. Gastrointestinal cancer majorly affects stomach and small intestine and it can be effectively treated using endoscope. Increasing prevalence of this cancer is expected to drive growth of the endoscope market. According estimation of American Cancer Society, around 26,240 cases of stomach cancer are estimated to be diagnosed in the U.S. in 2018. This number is even higher for lung and bronchus cancer (234,030 new cases in 2018) and colorectal cancer (140,250)

Technological advancements in endoscopy procedures are projected to fuel growth of the market

Advanced endoscopy procedures have gained significant traction in recent past, owing to enhanced quality of image visualization, ease of conducting surgical procedures, and availability of personalized features in endoscope. Furthermore, recent advancement in capsule endoscopy integrates capsule shaped endoscope having tiny camera, which is swallowed by patients.

It transmits live images of internal organs, which are visualized over large monitor, which is useful for monitoring and treatment of chronic disease such as cancer and IBD, as it visualizes micro area of internal organs. For instance, Medtronic plc. in 2016, received expanded indication for its Pill Cam COLON 2 capsule endoscope from U.S. Food and Drug Administration (FDA). It is the only non-invasive diagnostic test that directly visualizes the colon for the evaluation of polyps in patients who are at major risks for colonoscopy or moderate sedation. Furthermore, Olympus in June 2017, launched ENDOEYE 3D video endoscope that allows faster and precise endoscopic surgery by using 3D imaging system to facilitate depth perception.