Endoscopy Devices Market Report

A flexible endoscope is a form of optical tool that transmits light while also displaying images to the observer. Endoscopes are used extensively for diagnostic reasons in a variety of chronic conditions, including inflammatory bowel disease (IBD), colon cancer, stomach cancer, respiratory infections, respiratory tumours, and others. As a result of the increased frequency of these diseases, there is an increase in demand for flexible endoscopes. As per the American Cancer Society's 2023 report, approximately 26,380 new cases of stomach cancer were reported in the United States in 2022, with an additional 26,500 cases expected to be diagnosed in 2023. As a result of the rising incidence and prevalence of various chronic diseases, there is an increase in demand for flexible endoscopes. Furthermore, market participants' launches and approvals are likely to boost the segment's expansion throughout the forecast period.

Viral infections can be spread from person to person during an endoscopy surgery in numerous ways, including direct touch or respiratory droplets, the formation of infected aerosols during endoscopy, and exposure to contaminated endoscopic devices, accessories, and bodily fluids. Endoscopic procedures such as colonoscopy, gastroscopy, and retrograde cholangiopancreatography using an endoscopic are performed on a daily basis, exposing endoscopists to a variety of respiratory, oropharyngeal, and gastrointestinal diseases. Ascribed to the endoscopic unit, medical staff is also at greater risk of contracting a viral infection. Endoscopes are generally compact and closed units operated by a variety of personnel, including endoscopists, technicians, nursing staff, anaesthetists, hospital attendants, patients waiting for various treatments, and a huge number of small and large equipment providers. Patients with a high viral load in their respiratory secretions can contaminate the endoscopic air and fomites with viruses that can survive for extended periods of time, putting uninfected patients and endoscopy workers at risk.

Innovative technologies are driving significant advancements in the endoscopy market, improving diagnostic and therapeutic capabilities. Advancements such as high-quality imaging, 3D visualization, and robot-assisted endoscopy are enhancing accuracy and results for patients. For instance, in January 2023, AA Medical and Certified Endoscopy Products, a Chicago-based business that specialises in the reprocessing of endoscopy devices. AA Medical and Certified Endoscopy will join forces to develop a world-class medical device reprocessing firm that will serve the endoscopy, orthopaedic, and other surgical device sectors. Additionally, Medtronic announced GI Genius, an artificial intelligence endoscopy module for treating colorectal cancer, in India in August 2022. The created medical technology provides real-time data to physicians, allowing them to diagnose and cure colorectal cancer while also providing enhanced visualisation during colonoscopy.

The region's endoscopy market is likely to be driven by a high prevalence of diseases such as cardiovascular disease, colorectal and stomach cancer, rising acceptance of minimally invasive surgeries, technological advances, approvals, product launches, and collaborations by industry players. According to Cedars-Sinai, more than 300,000 patients in the United States receive successful bypass surgery each year. In addition, a surge in endoscopic treatments for the early detection of gastrointestinal and colorectal cancers is likely to drive the market in the future years. The majority of gastrointestinal stromal tumours begin in the rectum, colon, or esophagus. According to the American Cancer Society (ACS) 2023 research, esophageal cancer is expected to be diagnosed in 21.5 thousand people, stomach cancer in 26.5 thousand people, and colorectal cancer in 153 thousand people in the United States in 2023. The high prevalence of these cancers is likely to drive demand for endoscopy devices in the country throughout the forecast period. Rising endoscopy device launches and approvals in the region also contribute to market expansion throughout the forecast period. For example, Zsquare, a manufacturer of single-use endoscopes, received FDA 510K approval in July 2022 to market its device, the Zsquare ENT-Flex Rhinolaryngoscope, in the USA. Thus, increased product releases and the increasing popularity of minimally invasive imaging and procedures due to chronic diseases are likely to drive market growth during the forecast period.