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Endoscopy devices and accessories are one of the critical part of global healthcare system. These devices provide clinical solutions to the demands of rapidly moving world by allowing close examination of body structures and internal organs. Contrary to other medical devices like X-rays, a tube-like instrument called endoscope is inserted directly inside the organ which provides extensive details of the organs under study like GI tract, bronchi.

Since past decade, the demand for flexible endoscopes has increased remarkably, mainly because of patients’ preference for minimally invasive surgeries. Generally endoscopic procedures are low-risk procedures and are easily covered by health insurance. An important factor that drives the growth of the flexible endoscopy devices market is the rapid increase in the number of elderly people who are at risk to gastrointestinal, orthopedic and ophthalmic diseases as well as few types of cancer.  According to World Health Organization (WHO) report, between 2000 and 2050, the percentage of the world's population that is aged 60 years will double from about 11% to 22%. This aging population is the prime end user of gastrointestinal endoscopy, bariatric surgeries, knee-hip implants, and colonoscopy procedures. Similar to growing number of elderly people, age-related ailments are also expected to rise simultaneously, thus stimulating the demand and consumption of flexible endoscopes devices accordingly. For example, Center for Disease Control and Prevention (CDC) report predicts that in 2013-2015 approximately 7 million people in the United States had symptoms of Gastro esophageal Reflux Disorder (GERD), Crohns disease, bowel disorder.

Other drivers for the rapid growth in flexible endoscopes devices market are increase in government healthcare spending, improved reimbursement coverage in insurances, additionally rise in awareness levels of patients with respect to minimally invasive surgeries. However, factors restraining the growth of the flexible endoscopes devices market are expensive products, fragility of the equipment and other factors like few of the products provide lower quality images than other endoscopic devices.

The global flexible endoscope device market can be segmented on the basis of product, application, end users and region. Based on product, the flexible endoscope market is categorized into fibro scope, flexible videoscope, visualization systems, consumables and accessories, other endoscopy equipment.

The flexible endoscope market can be segmented on the basis of application as laparoscopy, gastrointestinal endoscopy, arthroscopy, obstetrics/gynecological endoscopy, urology endoscopy, bronchoscopy, mediastinoscopy, otoscopy, and laryngoscopy.

The laparoscopy followed by gastrointestinal endoscopy segment is expected to account for the largest share of the flexible endoscopy equipment market in coming years. The maximum share of this segment is attributable to invasive, low risk of surgical site infection (SSI), technological advancements, and these surgeries are expected to cost less than the others.

On the basis of end users flexible endoscope market can be segmented into   flexible endoscopes and related devices manufacturing companies, suppliers and distributors of endoscopy devices, healthcare service providers and diagnostic centers, teaching hospitals and academic medical centers (AMCs), independent surgeons and private offices of physicians, ambulatory surgery centers, manufacturers of consumables and accessories and other endoscopy equipment,  government bodies/municipal corporations, community centers and regulatory bodies.

Geographically, the global flexible endoscope market is divided into North America, Europe, Asia-Pacific, and the Rest of the World (Latin America, Middle East, and Africa).  In terms of geography, North America accounted highest share of the flexible endoscopes devices market followed by Europe, and Asia. North America and Europe both are likely to witness a demand for flexible endoscopes as a result of technological advancements as well as improved reimbursement status in both the regions. Rapidly aging population, growing incidence of associated disease and increased obesity rates are some of the important factors driving the flexible endoscopes market. For example, United Nations (UN) report predicts that the number of people in the world who are obese or overweight has reached 2.1 billion, up from 875 million in 1980.

In Asian region specifically developing countries like China and India will be the focal point for growth of flexible endoscopes devices.  The reasons behind it are chronically ill population, increasing number of private sector hospitals, increasing affluence, advancements in technology, and expansion to rural healthcare facilities. 

Some of the major companies operating in flexible endoscopes market are Stryker Corporation, Ethicon Endo-Surgery, Inc, Olympus Corporation, Covidien Plc, Boston Scientific, Arthrex, Inc., Smiths Group, Aesculap, Inc, Karl Storz, ConMed, Richard Wolf GmbH, Hoya Corporation, and Fujifilm Holdings Corporation.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Flexible Endoscopes Market

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