Endoscopic Devices - Europe | Statista Market Forecast

Revenue in the Endoscopic Devices market market in Europe is anticipated to reach US$9.14bn in 2024.
It is projected that revenue will exhibit an annual growth rate (CAGR 2024-2029) of 7.17%, culminating in a market volume of US$12.92bn by 2029.
In a global context, the United States is expected to generate the most revenue, amounting to US$10.39bn in 2024.
In Europe, the growing emphasis on minimally invasive procedures is significantly driving the demand for innovative endoscopic devices within the healthcare sector.

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 within the Medical Devices sector in Europe is witnessing moderate growth, influenced by factors such as technological advancements, increasing procedures requiring minimally invasive techniques, and a rising geriatric population seeking effective treatment options.

Customer preferences: Consumers in Europe are showing a growing preference for advanced endoscopic procedures, driven by an increasing awareness of the benefits of minimally invasive treatments. This shift is influenced by a culturally ingrained focus on health and wellness, particularly among younger demographics who prioritize quick recovery and reduced hospital stays. Furthermore, the rise in chronic diseases among the aging population is prompting more individuals to seek out innovative treatment options, reflecting a broader trend towards personalized and efficient healthcare solutions.

Trends in the market: In Europe, the Endoscopic Devices Market is experiencing a notable shift towards advanced imaging technologies, enhancing diagnostic accuracy and procedural efficiency. The integration of artificial intelligence in endoscopic systems is gaining momentum, enabling real-time data analysis and improved decision-making for healthcare professionals. Additionally, there is a rising demand for single-use endoscopic devices, driven by the need for infection control and patient safety. This trend underscores a significant transformation in surgical practices, prompting industry stakeholders to invest in innovation and expand product offerings to meet evolving healthcare needs.

Local special circumstances: In Europe, the Endoscopic Devices Market is shaped by stringent regulatory frameworks that ensure high safety and efficacy standards for medical devices. This region’s diverse healthcare systems, influenced by varying levels of public and private funding, create distinct market dynamics. Cultural preferences for minimally invasive procedures are driving innovation, while an aging population increases demand for advanced diagnostic tools. Additionally, the emphasis on environmental sustainability is prompting a shift towards eco-friendly materials in device manufacturing, reflecting broader societal values and impacting purchasing decisions.

Underlying macroeconomic factors: The Endoscopic Devices Market in Europe is significantly influenced by macroeconomic factors such as healthcare expenditure, demographic trends, and technological advancements. As nations grapple with aging populations, increased public health budgets are being allocated toward advanced diagnostic and therapeutic devices, propelling market growth. Additionally, favorable fiscal policies that encourage innovation and investment in medical technology foster a competitive landscape. Global economic trends, including supply chain dynamics and trade agreements, also impact the availability and cost of raw materials. Furthermore, heightened consumer awareness regarding health and wellness is influencing purchasing decisions, driving demand for minimally invasive procedures.

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.