Endoscopic Devices - Baltics | Statista Market Forecast

Revenue in the Endoscopic Devices market market in the Baltics is projected to reach US$48.38m in 2024.
This revenue is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 8.06%, leading to a market volume of US$71.31m by 2029.
In a global context, the majority of revenue will be generated the United States, with an anticipated figure of US$10.39bn in 2024.
The Baltic states are increasingly adopting advanced endoscopic devices, driven by a growing emphasis on minimally invasive surgical techniques and improved patient outcomes.

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 the Baltics is witnessing moderate growth, influenced by factors such as technological advancements, increasing demand for minimally invasive procedures, and a growing focus on patient outcomes and safety in healthcare settings.

Customer preferences: Patients in the Baltics are increasingly prioritizing minimally invasive procedures, driven by a desire for quicker recovery times and reduced hospital stays. This shift is particularly evident among younger demographics who value efficiency and are more informed about medical options. Additionally, the aging population is contributing to a growing demand for advanced endoscopic devices, as older individuals seek solutions that enhance quality of life while minimizing discomfort. Cultural attitudes towards health are evolving, emphasizing prevention and proactive care, further propelling the market's growth.

Trends in the market: In the Baltics, the Endoscopic Devices Market is experiencing a notable shift towards innovative technologies that facilitate minimally invasive procedures. Healthcare providers are increasingly adopting advanced endoscopic systems, enhancing procedural precision and patient safety. This trend is amplified by the rise in outpatient surgeries, as patients seek quicker recovery and lower costs. Additionally, the integration of digital tools and AI in endoscopic devices is improving diagnostic capabilities. For industry stakeholders, these developments signify a need for continuous innovation and investment in training to adapt to evolving patient expectations and ensure competitive advantage.

Local special circumstances: In the Baltics, the Endoscopic Devices Market is influenced by the region's unique healthcare landscape, characterized by a strong emphasis on public health and preventive care. The integration of EU regulations ensures high safety standards, fostering trust in advanced medical technologies. Additionally, the cultural inclination towards holistic health drives demand for minimally invasive procedures, as patients prioritize quick recovery and reduced hospital stays. Local partnerships between healthcare providers and technology firms are further accelerating innovation, making the Baltic market a dynamic environment for endoscopic device advancements.

Underlying macroeconomic factors: The Endoscopic Devices Market in the Baltics is significantly shaped by macroeconomic factors such as national economic stability, healthcare funding, and demographic trends. A robust national economy, characterized by steady GDP growth and rising disposable incomes, enables greater healthcare investments and expenditure on advanced medical technologies. Moreover, supportive fiscal policies aimed at enhancing healthcare access and innovation contribute to market expansion. The increasing prevalence of lifestyle-related diseases and an aging population further drive demand for endoscopic procedures, as patients seek less invasive options for diagnosis and treatment, reinforcing the market's growth trajectory.

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.