U.S. Endoscopy Devices Market Size, Share, Trends, Growth and Forecast 2030

U.S. Endoscopy Devices Industry Prospective:

The U.S. endoscopy devices market size was evaluated at $13 billion in 2023 and is slated to hit $17 billion by the end of 2032 with a CAGR of nearly 7% between 2024 and 2032.

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U.S. Endoscopy Devices Market: Overview

Endoscopy devices are the kind of medical devices that are utilized for viewing and examining the interior of the body without making huge incisions. Reportedly, they find key applications in urology, gastroenterology, and pulmonology. The key kinds of endoscopy equipment include rigid endoscopes, capsule endoscopes, and flexible endoscopes. Some of the main parts of endoscopy devices are the insertion tube, channels, optical system, and control mechanism.

Key Insights

• As per the analysis shared by our research analyst, the U.S. endoscopy devices market is projected to expand annually at the annual growth rate of around 7% over the forecast timespan (2024-2032)
• In terms of revenue, the U.S. endoscopy devices market size was evaluated at nearly $13 billion in 2023 and is expected to reach $17 billion by 2032.
• The global U.S. endoscopy devices market is anticipated to grow rapidly over the forecast timeline owing to a surge in the cases of chronic ailments and demand for minimally invasive methods in the healthcare sector.
• In terms of device type, the visualization devices segment is slated to register the highest CAGR over the forecast period.
• Based on application, the gastroenterology segment is predicted to contribute majorly towards the U.S. industry share in the upcoming years.

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U.S. Endoscopy Devices Market: Growth Factors

A rise in chronic disorders is likely to drive the growth of the market in the U.S.

A surge in the cases of chronic ailments and demand for minimally invasive methods in the healthcare sector will steer the expansion of the U.S. endoscopy devices market. Innovations in endoscopic technology for improving patient experiences are anticipated to spearhead the growth of the market in the country. Integration of AI with endoscopy equipment for enhancing diagnostic capabilities is likely to augment the growth of the market in the U.S. Surging focus on precision medicine for treating individuals will prop up the expansion of the market space in the country. A rise in the spending on healthcare infrastructure by private players and government will steer the growth of the market in the country. An increase in the ambulatory surgical centers for outpatient procedures is likely to embellish the need for endoscopic equipment, thereby driving the market trends in the U.S.

U.S. Endoscopy Devices Market: Restraints

Rising costs of endoscopy devices to restrict the growth of the industry in the U.S. over 2024-2032

Surging prices of devices and regulatory challenges can cut short the growth of the U.S. endoscopy devices industry. Furthermore, escalating prices of sterilizing and reprocessing the devices can put brakes on the market expansion.

U.S. Endoscopy Devices Market: Opportunities

Humungous use of advanced imaging tools to open facets of growth for the market in the U.S.

Large-scale use of robotic-assisted endoscopy and the launching of advanced imaging systems, such as 4K and 3D imaging systems, are likely to open new growth avenues for the U.S. endoscopy devices market. An increase in the cases of urological and gastrointestinal disorders has paved the way for huge demand for endoscopy devices in the U.S.

U.S. Endoscopy Devices Market: Challenges

Lack of strong reimbursement policies can obstruct industry growth in the U.S.

Unfavorable compensation laws and lack of proper insurance coverage along with non-uniformity in the reimbursement laws in various states of the U.S. can challenge the growth of the U.S. endoscopy devices industry. An increase in the rate of product failure and lack of product acceptance by patients can impede the growth of the industry in the U.S.

U.S. Endoscopy Devices Market: Segmentation

The U.S. endoscopy devices market is divided into device type, application, and region.                                          

In terms of device type, the U.S. endoscopy devices market is bifurcated into visualization devices, endoscopes, and endoscopic operative devices segments. Additionally, the visualization devices segment, which gained approximately 57% of the market revenue in 2023, is forecast to record the fastest growth rate yearly during the timespan from 2024 to 2032 owing to a rise in the use of the product in hospitals and clinics.

On the basis of application, the U.S. endoscopy devices industry is sectored into urology, gastroenterology, ENT surgery, gynecology, pulmonology, and neurology segments. In addition to this, the gastroenterology segment, which accrued about half of the industry share in 2023, is set to lead the segmental expansion in the U.S. in the upcoming years as gastrointestinal endoscopic procedures help doctors in examining digestive system functioning. Moreover, endoscopy devices help in examining & treating diseases such as colon, esophagus, pancreas, small intestine, and bile ducts. A surge in gastrointestinal disorders in the geriatric population can push up the segmental surge.

U.S. Endoscopy Devices Market: Report Scope

Key Developments

• In the first half of 2023, Olympus Corporation received a green signal from the U.S. FDA for the EVIS X1 endoscopy tool along with other two gastrointestinal endoscopic devices referred to as GIF-1100 gastrointestinal video scope and CF-HQ1100DL/I colon video scope.
• In the first quarter of 2023, UC Davis Health introduced a new endoscopy suite in the U.S. Such moves will prop up the expansion of the U.S. endoscopy devices market.

U.S. Endoscopy Devices Market: Competitive Space

The U.S. endoscopy devices market profiles key players such as:

• Stryker Corporation
• Olympus Corporation
• Machida Endoscope Co. Ltd
• PENTAX Medical
• Boston Scientific Corporation
• Richard Wolf GmbH
• Smith & Nephew Inc.
• Karl Storz GmbH & Co. KG.
• FUJIFILM Holdings Corporation
• Medtronic Plc
• Ethicon Endo-surgery LLC.

The U.S. endoscopy devices market is segmented as follows:

By Device Type

• Visualization Devices
• Endoscopesn
• Endoscopic Operative Devices

By Application

• Urology
• Gastroenterology
• ENT Surgery
• Gynecology
• Pulmonology
• Neurology

By Region

The U.S.

• Northeast
• Midwest
• South
• West