Esophagoscopes & Gastroscopes Market

Esophagoscopes and Gastroscopes Market Outlook (2022-2028)

[133 Pages Report] The global Esophagoscopes and Gastroscopes Market currently stands at US$ 1.1 Bn, and is predicted to exhibit a CAGR of 5.5% and rake in revenue worth US$ 1.5 Bn by the end of 2028.

Esophagoscope and gastroscope sales currently account for 8% share of the global endoscopes market. Increasing preference for minimally invasive procedures is expected to drive demand for laparoscopic instruments such as arthroscopes, bronchoscopes, laparoscopes, etc.

Demand Analysis of Esophagoscopes and Gastroscopes (2013 to 2021) Vs Market Outlook (2022 to 2028)

Incidence of gastrointestinal diseases has risen substantially over the past few years and this has majorly influenced the sales of esophagoscopes and gastroscopes. Demand for esophagoscope and gastroscope equipment rose at 4.4% CAGR from 2013 to 2021, with sales revenue in 2021 reaching US$ 1.05 Bn.

Laparoscopic instruments have gained popularity over the past few years as the instances of laparoscopic surgeries have increased substantially over the years. The sales of bronchoscopes and arthroscopes are also anticipated to see a rise over the forecast period owing to the increasing popularity of laparoscopic surgeries and procedures.

Owing to increase in demand for pet care, sales of veterinary gastroscopes are also expected to see a rise over the forecast period. Increasing prevalence of obesity, bad lifestyle choices, improper diet, rising preference for minimally invasive procedures, etc. are some additional factors that guide the market potential.

The market for esophagoscopes and gastroscopes is anticipated to rise at a CAGR of 5.5% over the forecast period.

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Which are the Most Lucrative Regions for Esophagoscope and Gastroscope Manufacturers?

“Veterinary Gastrocopes and Pediatric Gastroscopes to See Rising Sales in North America”

This research details the global esophagoscopes and gastroscopes industry landscape in regions such as North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa (MEA).

The North America esophagoscopes and gastroscopes market is currently dominating the global landscape while accounting for 33.4% of global esophagoscope and gastroscope sales. Developed healthcare infrastructure and wide availability of treatment procedures create a lucrative setting for the sales of laparoscopes, arthroscopes, and other laparoscopic instruments in North America.

Sales of esophagoscopes and gastroscopes in Latin America will account for 7.6% of the global revenue in 2022. Demand in this region is majorly driven by developing healthcare systems of emerging economies.

Increasing geriatric population and rising prevalence of gastrointestinal diseases in Europe are expected to drive esophagoscope and gastroscope consumption at a good pace over the forecast period. The Europe esophagoscopes and gastroscopes industry currently holds a market share of 27.2% in the global marketplace.

Increasing pet health awareness and veterinary care in Europe is also expected to propel demand for veterinary gastroscopes over the coming years.

Esophagoscope and gastroscope shipments are expected to see a rise from regions such as East Asia, South Asia, and the Pacific over the forecast period. Increase in demand in these regions can be attributed to developing healthcare infrastructure, increasing healthcare expenditure, rising technological proliferation, etc.  

High birth rates in the regions of East Asia, South Asia, and the Pacific are expected to drive demand growth of pediatric gastroscopes over the forecast period.

The lowest market share is held by the MEA esophagoscopes and gastroscopes market due to underdeveloped healthcare systems in this region and less technological proliferation in medical procedures. This is expected to change over the forecast period and the esophagoscopes and gastroscopes consumption is expected to rise.

Country-wise Analysis

Will There Be High Demand for Esophagoscopes and Gastroscopes in the U.S.?

“Increasing Obesity to Drive Sales of Laparoscopic Instruments in the U.S.”

The U.S. has seen a substantial increase in the incidence of gastrointestinal diseases and this is expected to further rise as the prevalence of obesity increases in the U.S. over the forecast period. The U.S. has seen an increase in cases of stomach cancer, gastrointestinal bleeding, and functional gastrointestinal diseases which have subsequently increased the number of endoscopies performed in the nation.

Poor lifestyle choices, bad eating habits, and smoking are some of the major factors driving the esophagoscopes and gastroscopes market in the U.S. Instruments like laparoscopes, arthroscopes, bronchoscopes, gastroscopes, etc. are expected to see an increase in sales over the forecast period.

Increasing pet care awareness is also expected to drive sales of veterinary gastroscopes in the U.S.

Will Manufacturers of Esophagoscopes and Gastroscopes Proliferate in India?

“Demand for Pediatric Gastroscopes and Veterinary Gastroscopes to Soar”

Being the second most populated nation in the world makes India an extremely lucrative market for pediatric products and pediatric care. The nation has a high birth rate and hence the need for pediatric products is also high. The aforementioned factors are anticipated to drive the sales of pediatric gastroscopes in India over the next few years.

India is also seeing an increase in pet ownership and pet adoption along with rising pet care awareness which has created a booming demand for veterinary gastroscopes and other veterinary care products as well.

Massive population and developing healthcare infrastructure are majorly expected to guide demand for esophagoscope and gastroscope systems in India.

Category-wise Analysis

How are Sales of Flexible Endoscopes Expected to Fare Over the Forecast Years?

“Disposable Gastroscopes to See Major Upshift in Demand”

Flexible endoscopes are gaining popularity for their increasing scope of application for multiple diagnostic and treatment procedures. As compared to rigid endoscopes, flexible endoscopes are easier to operate in complex diagnostic and treatment procedures. Single-use gastroscopes and disposable gastroscopes have seen a hike in demand as awareness about hospital-acquired infections increases all over the world.

Increasing focus on medical waste concerns is expected to hamper the adoption of single use gastroscopes and disposable gastroscopes to a certain extent but this is anticipated to be solved by the manufacturers launching sustainable and eco-friendly products.

COVID-19 Pandemic Analysis

The healthcare industry was the most affected by the pandemic that hit the world in the first quarter of 2020 and is still a prevalent threat to the human population across the world. The healthcare industry was radically revolutionized in the pandemic and the world changed in many fundamental ways. Medical procedures saw a major drop in pandemic due to the lockdown situation across the world and movement restrictions to curb the spread of coronavirus.

Sales of esophagoscopes and gastroscopes also experienced a drop in the pandemic era due to declined medical procedures and a low rate of diagnostics. However, the esophagoscope and gastroscope shipments are expected to make a notable comeback in the post-pandemic era as the world returns to normalcy and restrictions are lifted.

Increasing focus on minimally invasive procedures in the post-pandemic era is expected to push the esophagoscope and gastroscope sales and bring the market back to its expected potential. The overall demand for laparoscopic instruments is also predicted to show an upward trend in the post-pandemic era.

Competitive Landscape

Esophagoscopes and gastroscopes industry is a highly consolidated marketplace with select players leading and dominating the market. New esophagoscope and gastroscope vendors will have to come up with innovative products to penetrate the market.

• In September 2020, PENTAX Medical, a healthcare leader in therapeutic endoscopy, announced the launch of new video gastroscopes. The new line of J10 Series Ultrasound Video Gastroscopes comes with an ergonomic design and enhanced manoeuvrability as a EUS (endoscopic ultrasound) solution. The new line also has increased linear scope scan and increased frequency capabilities for better performance.
• In October 2021, FUJIFILM Healthcare Americas Corporation, a renowned name in the endoscopic imaging industry, announced the launch of its new endoscope - Fujifilm's EI-740D/S, which is a new dual-channel endoscope that is the first dual-channel endoscope to be approved by the U.S. FDA for upper as well as lower gastrointestinal diagnostics and treatment.

Esophagoscopes and Gastroscopes Industry Report Scope

Key Segments of Esophagoscopes and Gastroscopes Industry Survey

Esophagoscopes and Gastroscopes Market by Product Type:

• Rigid Endoscopes
• Flexible Endoscopes

Esophagoscopes and Gastroscopes Market by End User:

• Esophagoscopes and Gastroscopes for Hospitals
• Esophagoscopes and Gastroscopes for Ambulatory Surgical Centres
• Esophagoscopes and Gastroscopes for Specialty Clinics
• Esophagoscopes and Gastroscopes for Diagnostic Centres

Esophagoscopes and Gastroscopes Market by Region:

• North America Esophagoscopes and Gastroscopes Market
• Latin America Esophagoscopes and Gastroscopes Market
• Europe Esophagoscopes and Gastroscopes Market
• East Asia Esophagoscopes and Gastroscopes Market
• South Asia & Pacific Esophagoscopes and Gastroscopes Market
• Middle East & Africa (MEA) Esophagoscopes and Gastroscopes Market