DUBLIN–(BUSINESS WIRE)–The “Endoscopic Imaging Systems Market – A Global and Regional Evaluation: Give attention to Product Type, Regional Evaluation, and Country-Smart Evaluation – Evaluation and Forecast, 2022-2030” report has been added to ResearchAndMarkets.com’s offering.
The worldwide endoscopic imaging systems market was valued at $3,641.3 million in 2021, and it is anticipated to grow with a CAGR of seven.43% and reach $6,941.3 million by 2030
The expansion in the worldwide endoscopic imaging systems market is anticipated to be driven by the growing adoption of minimally invasive procedures, the improving clinical quality of the endoscopic procedures, and the increasing technology integration in endoscopic imaging systems.
Market Lifecycle Stage
The endoscopic imaging systems market is a longtime market and has witnessed significant advancements over the past few years. The increasing demand for minimally invasive procedures will propel advancements in endoscopy and improve its adoption amongst end users corresponding to physicians.
The adoption of artificial intelligence (AI) in endoscopic procedures and the entry of local firms into the regional endoscopic imaging systems market are significant opportunities in the worldwide endoscopic imaging systems market. Furthermore, the increasing demand in developing regions can also be a possibility for market growth.
Impact of COVID-19
The COVID-19 pandemic was an unprecedented event in the worldwide healthcare system. Healthcare systems in various economies collapsed, and technology integration skyrocketed. The endoscopic procedures were impacted similarly in the course of the initial phase of the pandemic. Several non-emergency procedures were delayed or canceled to reduce infection risk in the course of the early months of 2020.
Just like other medical specialties, the adoption rate was also negatively impacted in endoscopic imaging systems. The limited demand for brand spanking new devices, high costs of endoscopic imaging systems, and disrupted supply chain were the key aspects that hampered the production and sales of endoscopic imaging systems, specifically in the course of the peak pandemic in 2020.
Nonetheless, in the course of the forecast period 2022-2030, the device adoption rate is projected to normalize to pre-COVID-19 levels. The allocation of funds for purchasing latest devices and the pace of procurement decisions can be the important thing aspects impacting the device adoption rates.
The recurring waves of the COVID-19 pandemic might need a dangerous impact on the sales of the devices. Nonetheless, considering the growing demand for minimally invasive procedures and accelerated recovery period, the necessity for endoscopic procedures across various medical specialties is projected to grow.
The worldwide endoscopic imaging systems market in the appliance segment is anticipated to be dominated by the diagnostic endoscopic imaging systems segment in the course of the forecast period 2022-2030.
Recent Developments in Global Endoscopic Imaging Systems Market
- In October 2021, Fujifilm Healthcare Americas Corporation established its latest El-740D/S dual-channel endoscope, an FDA-approved dual-channel endoscope that will be applied in upper and lower gastrointestinal areas.
- In August 2021, Boston Scientific Corporation received the U.S. Food and Drug Administration (FDA) approval for its Exalt B single-use bronchoscope.
- In August 2021, KARL STORZ Endoscopy-America, Inc., a subsidiary of KARL STORZ SE & Co. KG, launched the newer version of the TELE PACK+ compact endoscopy system. After the update, the endoscopy system will be linked with StreamConnect for networking and data management.
- In July 2021, Fujifilm Medical Systems U.S.A., Inc. received the U.S. FDA approval for its ELUXEO Surgical System, an oxygen saturation endoscopic imaging system.
- In June 2021, HOYA Corporation’s subsidiary PENTAX Medical established a three way partnership partnership with Jiangsu Vedkang Medical Science and Technology to make single-use flexible medical endoscopic therapeutic products.
- In May 2021, Boston Scientific Corporation received CE mark approval for its Exalt B single-use bronchoscope.
- In April 2021, Olympus Corporation launched a latest line of endoscopes often called the H-SteriScopes, including five latest single-use bronchoscopes.
- In February 2021, Olympus Corporation acquired Quest Photonic Devices. Through this acquisition, the corporate broadened its offerings for endoscopy devices.
- In October 2020, Ambu A/S/ partnered with a distinguished U.S. Group Purchasing Organization (GPO) to develop single-use endoscopes for various medical specialties.
Key Market Players and Competition Synopsis
The businesses which might be profiled have been chosen based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
Some distinguished players on this market are:
- Ambu A/S
- Arthrex, Inc.
- B. Braun Melsungen AG
- Boston Scientific Corporation
- CONMED Corporation
- Fujifilm Holdings Corporation
- HOYA Corporation
- Johnson & Johnson
- KARL STORZ SE & Co. KG
- Olympus Corporation
- Richard Wolf GmbH
- Smith & Nephew Plc
- SonoScape Medical Corp.
- Stryker Corporation
- Xion GmbH
Key Topics Covered:
1 Market Definition
1.1 Product Definition
1.2 Inclusion and Exclusion
1.3 Forecast Period Selection Criteria
1.4 Assumptions and Limitations
2 Global Endoscopic Imaging Systems Market
2.1 Market Size and Forecast
2.2 Key Findings
3 Industry Outlook
3.1 Regulatory Framework
3.2 Impact of COVID-19 on Global Endoscopic Imaging Systems Market
3.2.1 Impact on Facilities
3.2.2 Impact on Device Adoption
3.3 Patent Filing Trends
3.3.1 By Yr
3.3.2 By Country
3.3.3 By CPC Codes
3.3.4 By Key Corporations
3.4 Key Enabling Technologies (Innovation Outlook)
4 Market Dynamics
4.1 Impact Evaluation
4.2 Business Drivers
4.2.1 Growing Adoption of Minimally Invasive Procedures
4.2.2 Improving Clinical Quality Standards of the Endoscopic Procedures
4.2.3 Growing Technology Integration in Endoscopic Imaging Systems
4.3 Business Restraints
4.3.1 Dearth of Expert Professionals
4.3.2 Lack of Reimbursement System in Developing Countries
4.4 Business Opportunities
4.4.1 Adoption of Artificial Intelligence in Endoscopic Procedures
4.4.2 Entry of Local Corporations in Regional Endoscopic Imaging Systems Market
4.5 Market Trends
5 Global Endoscopic Imaging Systems Market (by Application)
5.1 Opportunity Assessment
5.2 Growth-Share Matrix
5.3 Diagnostic Endoscopic Imaging Systems
5.3.1 Market Size and Forecast
5.3.2 Unit Sold
5.3.3 Installed Base
5.4 Therapeutic Endoscopic Imaging Systems
5.4.1 Market Size and Forecast
5.4.2 Unit Sold
5.4.3 Installed Base
6 Region
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