Market Insights Health Medical Technology Medical Devices

Endoscopic Devices - G7

In G7, revenue in the Endoscopic Devices market market is projected to reach US$18.47bn in 2024.
This revenue is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 6.89%, leading to a market volume of US$25.77bn by 2029.
In the global context, the majority of revenue will be generated the United States, with an expected figure of US$10,390.00m in 2024.
In the United States, the increasing prevalence of minimally invasive surgeries is driving significant growth in the endoscopic devices market, enhancing patient recovery outcomes.

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

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Analyst Opinion

The Endoscopic Devices Market within the Medical Devices sector in G7 nations is experiencing moderate growth. Factors influencing this trend include advancements in technology, increased prevalence of chronic diseases, and heightened demand for minimally invasive procedures among healthcare providers.

Customer preferences: Consumers are showing a growing preference for advanced endoscopic procedures that promise quicker recovery times and reduced hospital stays, reflecting a broader trend towards minimally invasive healthcare solutions. Additionally, there is an increasing demand for personalized healthcare experiences, prompting the integration of technology in endoscopic devices to enhance patient engagement. The aging population in G7 nations further drives this trend, as older adults seek effective, less invasive options for managing chronic health conditions while prioritizing comfort and quality of life.

Trends in the market: In G7 nations, the Endoscopic Devices Market is experiencing a surge in demand for advanced minimally invasive procedures, driven by patients' preferences for quicker recovery and shorter hospital stays. Additionally, there is a notable shift towards integrating advanced technologies in endoscopic devices, enhancing patient engagement and personalization in healthcare experiences. The aging population is a significant factor, as older adults increasingly seek effective, less invasive solutions for chronic conditions, emphasizing comfort and quality of life. These trends present opportunities for industry stakeholders to innovate and adapt, ensuring alignment with evolving patient needs and preferences.

Local special circumstances: In Japan, the Endoscopic Devices Market is significantly influenced by the country's advanced healthcare infrastructure and a strong emphasis on precision medicine. The aging population drives demand for minimally invasive procedures, as older patients prefer safer options with reduced recovery times. Additionally, Japan's rigorous regulatory framework ensures high-quality standards for medical devices, fostering innovation while maintaining patient safety. Cultural attitudes towards health encourage early intervention and regular screenings, further propelling the adoption of endoscopic technologies across diverse medical specialties.

Underlying macroeconomic factors: The Endoscopic Devices Market is shaped by several macroeconomic factors, including the overall economic stability and growth in Japan, which supports healthcare investments. A robust national economy fosters public and private spending on medical technologies, while fiscal policies aimed at improving healthcare access further enhance market potential. Additionally, global economic trends, such as the shift towards minimally invasive procedures, resonate strongly in Japan, where an aging demographic drives demand for advanced endoscopic solutions. Furthermore, increasing healthcare expenditure and a focus on innovative treatments ensure a conducive environment for market expansion and technological advancements.

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.