Endoscopic Devices - Taiwan | Statista Market Forecast

In Taiwan, revenue in the Endoscopic Devices market market is projected to reach US$156.90m in 2024.
Revenue in this market is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 7.18%, which will lead to a market volume of US$221.80m by 2029.
When compared globally, it is noteworthy that the majority of revenue will be generated the United States, amounting to US$10.39bn in 2024.
Taiwan's growing emphasis on advanced healthcare technologies is driving innovation and adoption of endoscopic devices, enhancing surgical precision and 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 Taiwan is experiencing moderate growth, influenced by factors such as advancements in minimally invasive procedures, increasing demand for diagnostic tools, and heightened awareness of early disease detection among healthcare providers and patients.

Customer preferences: In Taiwan, there is a notable shift towards preferring less invasive medical procedures, driven by a growing awareness of the benefits of endoscopic techniques. Patients are increasingly valuing quick recovery times and minimal scarring, leading to higher demand for advanced endoscopic devices. Additionally, an aging population is fueling the need for effective diagnostic tools that facilitate early disease detection. The rise of health-conscious lifestyles has also prompted individuals to seek innovative solutions, encouraging healthcare providers to adopt cutting-edge endoscopic technologies.

Trends in the market: In Taiwan, the Endoscopic Devices Market is experiencing significant growth as healthcare providers increasingly adopt advanced minimally invasive technologies. The trend towards endoscopic procedures is driven by patient preferences for quicker recovery and reduced postoperative pain, reflecting a broader shift in consumer expectations. Additionally, the aging population is intensifying the demand for diagnostic tools that support early detection of diseases. This evolution is prompting industry stakeholders to invest in innovative endoscopic solutions, enhancing competitive positioning and improving patient outcomes. As awareness of these benefits spreads, the market trajectory indicates a sustained increase in both device adoption and technological advancements.

Local special circumstances: In Taiwan, the Endoscopic Devices Market is influenced by the island's robust healthcare infrastructure and a strong emphasis on technological innovation. The government’s regulatory support for medical advancements fosters a competitive environment that encourages the adoption of cutting-edge endoscopic technologies. Culturally, there is a high value placed on health and wellness, leading to increased patient demand for minimally invasive procedures. Furthermore, Taiwan's efficient healthcare system facilitates quick integration of new devices, enhancing market growth and improving patient access to advanced diagnostic and therapeutic options.

Underlying macroeconomic factors: The Endoscopic Devices Market in Taiwan is shaped by several macroeconomic factors, including national economic health, global trade dynamics, and healthcare spending. Taiwan's stable economic growth and rising GDP per capita have led to increased healthcare investments, facilitating the adoption of advanced endoscopic technologies. Furthermore, the government's fiscal policies that support medical innovation and research bolster the development of new devices. Global trends, such as the rising demand for minimally invasive procedures and an aging population, further stimulate market growth. Additionally, Taiwan's strategic position in the Asia-Pacific region enhances its access to international markets, fostering competitive advantages in the endoscopic devices sector.

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.