Endoscopic Devices - North America

Revenue in the Endoscopic Devices market market in North America is anticipated to achieve US$11.46bn in 2024.
The revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 6.69%, leading to a market volume of US$15.84bn by 2029.
In a global context, the majority of revenue is projected to be generated the United States, with an estimated revenue of US$10.39bn in 2024.
The North American market for endoscopic devices is increasingly driven by technological advancements and a growing emphasis on minimally invasive surgical procedures.

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 North America is witnessing moderate growth, influenced by factors such as technological advancements, increasing prevalence of chronic diseases, and a growing preference for minimally invasive procedures among healthcare providers and patients.

Customer preferences: Consumers are increasingly favoring minimally invasive procedures, reflecting a cultural shift towards prioritizing quicker recovery times and reduced hospital stays. This trend is particularly evident among the aging population, who seek less traumatic treatment options for chronic ailments. Additionally, younger demographics are becoming more proactive about their health, prompting healthcare providers to adopt advanced endoscopic technologies that align with patients' preferences for safety and efficiency. This evolving landscape is driving innovation and adoption in the Endoscopic Devices Market.

Trends in the market: In North America, the Endoscopic Devices Market is experiencing a surge in demand for advanced imaging technologies, such as high-definition endoscopes and augmented reality integration, which enhance visualization during procedures. There is also an increasing emphasis on robotic-assisted endoscopy, allowing for greater precision and control in minimally invasive surgeries. Additionally, the aging population is driving the need for specialized endoscopic solutions tailored to geriatric care, while younger patients are advocating for outpatient procedures that minimize recovery time. This convergence of trends is prompting manufacturers to innovate and adapt their product offerings, thereby significantly impacting market dynamics and competitive strategies.

Local special circumstances: In Canada, the Endoscopic Devices Market is influenced by a robust healthcare system that emphasizes patient-centered care and high standards for medical technology. The country's diverse population necessitates culturally sensitive healthcare solutions, driving demand for endoscopic devices that cater to various demographic needs. Additionally, stringent regulatory requirements from Health Canada ensure that only the safest and most effective devices are approved, impacting market entry strategies. Provincial health initiatives focused on reducing surgical wait times are also spurring innovation in minimally invasive procedures, further shaping market dynamics.

Underlying macroeconomic factors: The Endoscopic Devices Market in North America is significantly influenced by macroeconomic factors, including advancements in healthcare technology, national healthcare expenditures, and demographic trends. A strong economic environment fosters investments in innovative medical devices, while a rising prevalence of chronic conditions amplifies the demand for minimally invasive procedures. Additionally, supportive fiscal policies and government initiatives aimed at enhancing healthcare access and reducing costs are pivotal in driving market growth. The competitive landscape is further shaped by collaborations between medical device manufacturers and healthcare providers, aiming to improve patient outcomes and streamline operational efficiencies.

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.