Endoscopic Devices - Lithuania | Statista Market Forecast

Revenue in the Endoscopic Devices market market in Lithuania is anticipated to reach US$19.54m in 2024.
The revenue in Lithuania is expected to exhibit an annual growth rate (CAGR 2024-2029) of 7.78%, leading to a market volume of US$28.42m by 2029.
In a global context, the majority of revenue will be generated the United States, where it is projected to be US$10.39bn in 2024.
Lithuania's healthcare sector is increasingly adopting advanced endoscopic devices, reflecting a growing commitment to 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 Lithuania is experiencing moderate growth, influenced by advancements in minimally invasive procedures, increasing healthcare investments, and a growing emphasis on patient safety and recovery times, enhancing the demand for innovative medical technologies.

Customer preferences: In Lithuania, there is a noticeable shift towards patient-centric healthcare, with consumers increasingly favoring minimally invasive procedures, which are perceived to reduce recovery times and improve overall outcomes. This trend is driven by a growing awareness of health and wellness among the population, particularly among younger demographics who prioritize quick recovery and less invasive treatment options. Additionally, as healthcare becomes more accessible, there is a rising demand for advanced endoscopic devices that enhance precision and safety during procedures, reflecting changing attitudes towards surgical interventions.

Trends in the market: In Lithuania, the Endoscopic Devices Market is experiencing robust growth, driven by the increasing preference for minimally invasive surgical techniques. Patients are more informed and are actively seeking out procedures that promise faster recovery times and less postoperative discomfort. This shift is fostering innovation in endoscopic technologies, as manufacturers focus on developing advanced devices that enhance accuracy and improve patient safety. Furthermore, as healthcare facilities invest in state-of-the-art equipment, there is an opportunity for industry stakeholders to capitalize on this trend by providing cutting-edge solutions that meet evolving patient needs and align with the broader movement towards quality care.

Local special circumstances: In Lithuania, the Endoscopic Devices Market is being shaped by a combination of local factors, including a strong emphasis on healthcare quality and patient outcomes. The country's commitment to EU healthcare standards ensures rigorous regulatory oversight, promoting the adoption of advanced endoscopic technologies. Culturally, there is a rising awareness among patients about the benefits of minimally invasive procedures, leading to increased demand. Additionally, Lithuania's strategic location facilitates collaboration with European manufacturers, enhancing access to innovative devices that cater to the evolving needs of healthcare providers and patients alike.

Underlying macroeconomic factors: The Endoscopic Devices Market in Lithuania is influenced by several macroeconomic factors, including overall economic stability, public healthcare funding, and technological advancements. A robust national economy fosters increased investment in healthcare infrastructure, enabling hospitals and clinics to acquire cutting-edge endoscopic devices. Fiscal policies that prioritize healthcare spending further enhance market conditions, while a growing emphasis on preventive care drives demand for minimally invasive procedures. Additionally, global trends in medical technology innovation and the increasing prevalence of gastrointestinal disorders are prompting Lithuanian healthcare providers to adopt advanced endoscopic solutions, ultimately improving patient outcomes.

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.