There can be no surprise to the undeniable facts behind the booming endoscopy market. The increasing demand for endoscopic procedures correlates not only with the aging population, but the rising prevalence of gastrointestinal disorders and other chronic conditions around the world. These minimally invasive procedures will continue to increase in terms of innovation and application.
As per the reports from the Administration of Community Living (ACL), the number of people of age 65 and older were 54.1 million in 2019 and is projected to grow around 94.7 million by 2060 in the U.S.;
As per the recent reports from the American Cancer Society, there are over 26,380 new cases of stomach cancer observed in 2022, accounting for 1.5% of all cancers diagnosed;
As per the epidemiology study cited in the NCBI, gastric cancer is deemed as 5th most common forms of cancers with high mortality and caused over 783,000 deaths in 2018.
Global market for endoscopy was valued at over US$33.48 billion in 2021 and is estimated to register a 7% CAGR during the forecast period of 2022-2030.
Global endoscopy industry revenue from the endoscope product segment surpassed US$16.81 billion in 2021 due to the rising incidence of chronic diseases, such as cancer and gastrointestinal disorders.
Global endoscopy market value from the laparoscopy application segment is expected to cross US$16.71 billion by 2030 with the awareness about early detection and treatment of diseases and access to advanced equipment.
U.S. endoscopy market share is anticipated to surpass US$23.8 billion by 2030, with increase in geriatric population, medical device innovations, modern healthcare infrastructure and rising cases of chronic conditions.