Endoscopic Devices - Australia | Statista Market Forecast

In Australia, revenue in the Endoscopic Devices market market is projected to reach US$381.10m in 2024.
The revenue is anticipated to display an annual growth rate (CAGR 2024-2029) of 7.76%, which will lead to a market volume of US$553.80m by 2029.
In a global context, the highest revenue will be generated the United States, with a figure of US$10.39bn in 2024.
Australia's endoscopic devices market is witnessing significant innovation, driven by increasing demand for minimally invasive surgical procedures and advancements in imaging technologies.

Definition:
The Endoscopic Devices market, a medical technology market, includes the sale of endoscopic devices. Endoscopy involves the use of an endoscope to examine the inside of a hollow organ or body cavity. The market includes various types of endoscopes, such as gastroscopes, laparoscopes, bronchoscopes, and colonoscopes.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B), and governments (B2G). Revenues are allocated to the country where the money is spent.

Key players in the market include Olympus Corporation, Boston Scientific Corporation, and Stryker Corporation. Further information on the key players can be found in the Market Shares boxes.

Endoscopic devices
Implants such as stents

pharmaceuticals for endoscopic procedure

The Endoscopic Devices Market in Australia is witnessing moderate growth, influenced by factors such as advancements in minimally invasive procedures, increasing prevalence of gastrointestinal disorders, and heightened investment in healthcare technologies enhancing patient outcomes.

Customer preferences: Consumers in Australia are increasingly prioritizing preventative healthcare measures, driving the demand for advanced endoscopic devices that facilitate early diagnosis of gastrointestinal disorders. This trend is fueled by a growing awareness of health issues, influenced by an aging population and lifestyle changes such as diet and exercise. Additionally, the rise of telehealth and remote monitoring options is reshaping patient expectations, leading to a preference for minimally invasive procedures that promise quicker recovery times and reduced hospital stays, aligning with the modern emphasis on convenience and efficiency in healthcare.

Trends in the market: In Australia, the Endoscopic Devices Market is experiencing significant growth as healthcare providers increasingly adopt advanced technologies to enhance diagnostic capabilities. The trend towards minimally invasive procedures is gaining momentum, driven by patient preferences for shorter recovery times and reduced hospital stays. Additionally, the integration of artificial intelligence in endoscopic devices is improving diagnostic accuracy and efficiency. This evolving landscape is prompting manufacturers to innovate, ensuring compliance with stringent regulatory standards while addressing the rising demand for greater accessibility and affordability in healthcare solutions.

Local special circumstances: In Australia, the Endoscopic Devices Market is influenced by a robust healthcare system supported by government funding and a focus on patient-centered care. The country's diverse geography presents challenges in accessing specialized medical services, particularly in remote areas, leading to an increased demand for minimally invasive procedures that can be performed locally. Furthermore, Australia’s regulatory framework encourages innovation while ensuring patient safety, fostering a competitive environment for manufacturers. Cultural attitudes favor advanced medical technologies, enhancing the acceptance and integration of endoscopic solutions in clinical practices.

Underlying macroeconomic factors: The Endoscopic Devices Market in Australia is significantly influenced by macroeconomic factors such as national economic stability, healthcare funding, and demographic trends. A strong economy supports higher healthcare expenditure, enabling hospitals and clinics to invest in advanced endoscopic technologies. Additionally, government initiatives aimed at enhancing healthcare access in rural areas are driving demand for minimally invasive procedures that can be administered locally. Furthermore, the aging population is increasing the prevalence of conditions requiring endoscopic interventions, while favorable fiscal policies promote innovation and research in medical technologies, ensuring a competitive landscape for manufacturers.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.