Market Insights Health Medical Technology Medical Devices

Endoscopic Devices - Americas

Americas

Revenue in the Endoscopic Devices market market in the Americas is anticipated to attain US$13.13bn in 2024.
The revenue is predicted to exhibit an annual growth rate (CAGR 2024-2029) of 6.78%, leading to a market volume of US$18.23bn by 2029.
In a global context, the majority of revenue is expected to be produced the United States, which is projected to generate US$10,390.00m in 2024.
The United States is witnessing a surge in innovation within the endoscopic devices market, driven by advancements in minimally invasive surgical techniques and increasing patient demand.

Key regions: Italy, United Kingdom, Netherlands, Germany, Japan

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Analyst Opinion

The Endoscopic Devices Market in the Americas is experiencing moderate growth, influenced by factors such as advancements in technology, increasing prevalence of chronic diseases, and a growing preference for minimally invasive procedures among healthcare providers and patients.

Customer preferences: Consumers are increasingly favoring advanced endoscopic procedures that offer quicker recovery times and less postoperative pain, reflecting a cultural shift towards prioritizing quality of life. This trend is particularly evident among older adults seeking less invasive options for managing chronic conditions. Additionally, the growing emphasis on preventive healthcare is driving demand for regular screenings and diagnostic procedures, highlighting the importance of early detection and intervention in the management of diseases.

Trends in the market: In the Americas, the Endoscopic Devices Market is experiencing a surge in minimally invasive surgical techniques, driven by advancements in technology and increased patient awareness. This trend is particularly notable among older adults, who are increasingly opting for procedures that promise reduced recovery times and less discomfort. Additionally, there is a rising focus on preventive care, leading to greater demand for routine screenings and diagnostic endoscopies to catch diseases early. These shifts are significant for industry stakeholders, prompting manufacturers to innovate and adapt their product offerings to meet evolving patient needs and preferences.

Local special circumstances: In Canada, the Endoscopic Devices Market is shaped by a robust healthcare system that emphasizes patient-centered care and access to advanced medical technologies. The country's diverse population fosters a demand for culturally sensitive healthcare solutions, prompting manufacturers to develop devices that cater to various linguistic and cultural needs. Furthermore, strict regulatory frameworks ensure high safety standards, influencing the pace of innovation. In Mexico, the market is growing rapidly due to an expanding health insurance coverage, encouraging more patients to seek endoscopic procedures, while local manufacturers are increasingly collaborating with global firms to enhance product offerings and meet rising demand.

Underlying macroeconomic factors: The Endoscopic Devices Market in the Americas is significantly influenced by macroeconomic factors, including national economic health, healthcare spending, and demographic trends. Countries with robust economies, like Canada and the U.S., allocate substantial resources to healthcare, fostering innovation and adoption of advanced endoscopic technologies. Conversely, in Mexico, rising health insurance coverage and government investments in healthcare infrastructure are fueling market growth. Additionally, global economic trends, such as supply chain dynamics and international trade agreements, impact pricing and availability of endoscopic devices, ultimately shaping market performance across the region.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.