Endoscopic Devices - United Kingdom

Revenue in the Endoscopic Devices market market in the United Kingdom is anticipated to hit US$1.22bn in 2024.
The revenue in this sector is projected to exhibit an annual growth rate (CAGR 2024-2029) of 8.98%, which will lead to a market volume of US$1.88bn by 2029.
In a global context, the in the United Kingdom will generate a significant portion of revenue, although the majority will still come from the United States, which is expected to reach US$10.39bn in 2024.
In the United Kingdom, the endoscopic devices market is experiencing a surge in demand driven by advancements in minimally invasive surgical techniques and patient preference for quicker recovery times.

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 the United Kingdom is witnessing considerable growth, fueled by advancements in technology, increasing demand for minimally invasive procedures, and heightened awareness of early disease detection among patients and healthcare providers.

Customer preferences: Consumers in the United Kingdom are increasingly opting for minimally invasive surgical options, leading to a notable rise in the demand for advanced endoscopic devices. The growing emphasis on early diagnosis and preventive healthcare is prompting individuals to seek out procedures that minimize recovery time and reduce hospital stays. Additionally, an aging population and health-conscious younger demographics are driving interest in innovative technologies that enhance patient outcomes and streamline surgical processes. This shift reflects broader societal trends prioritizing efficiency and quality of life in healthcare.

Trends in the market: In the United Kingdom, the Endoscopic Devices Market is experiencing significant growth driven by advancements in minimally invasive surgical techniques. Healthcare providers are increasingly adopting these devices, which enhance precision and reduce recovery times for patients. The trend towards early diagnosis and personalized care is fostering innovations in endoscopic technologies, such as integrated imaging systems and robotic-assisted procedures. This shift not only improves patient outcomes but also aligns with the NHS's goals for cost efficiency and enhanced care delivery, posing both opportunities and challenges for manufacturers and healthcare providers alike.

Local special circumstances: In the United Kingdom, the Endoscopic Devices Market is shaped by a unique blend of regulatory frameworks and cultural attitudes towards healthcare. The National Health Service (NHS) emphasizes patient safety and cost-effectiveness, driving stringent regulatory approvals for new technologies. Moreover, the UK's aging population increases demand for minimally invasive procedures, fostering innovation in endoscopic devices. Additionally, public awareness and acceptance of advanced medical technologies enhance adoption rates, distinguishing the UK market from others where access and education may be more limited.

Underlying macroeconomic factors: The Endoscopic Devices Market in the United Kingdom is significantly impacted by macroeconomic factors such as national economic stability, healthcare funding, and demographic trends. A robust economy fosters investment in advanced medical technologies, while fiscal policies that prioritize healthcare spending enhance accessibility to innovative endoscopic solutions. Additionally, the UK's aging population, coupled with rising healthcare costs, drives the demand for minimally invasive procedures, leading to increased adoption of endoscopic devices. Global economic trends, such as advancements in manufacturing and supply chain efficiencies, further facilitate market growth by enabling faster delivery of cutting-edge technologies to healthcare providers.

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.