Rigid Endoscopes Market to hit USD 17.4 billion by 2032, says Global Market Insights Inc.
Rigid Endoscopes Industry is projected to witness a CAGR of 6.6% during the period 2023-2032. This growth can be attributed to the rising adoption of minimally invasive surgeries.
Selbyville, Delaware, Oct. 31, 2023 (GLOBE NEWSWIRE) —
Rigid Endoscopes Market size is expected to be worth USD 17.4 billion by 2032. The growing stream of technological advancements and research activities to render improvements in image quality, optics, and miniaturization of components will influence the industry expansion.
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To cite an instance, in May 2023, Keio University partnered with chemical manufacturing frontrunner Air Water to successfully develop the first-ever ultra-fine rigid endoscope by deploying graded-index plastic optical fiber (GI-POF) technology to render rapid and accurate assessment of the patient’s conditions. The growing efforts to bring modifications to offer better visualization and enhanced surgical precision will also contribute to the industry expansion.
Arthroscopes to record significant traction
Rigid endoscopes market from the arthroscopes product segment is likely to account for a significant revenue share by 2032 attributed to rising benefits in providing reduced postoperative pain, shorter recovery times, smaller incisions, and less scarring. The boom in sports medicine and the surging burden of diagnosing and treating various knee conditions, such as torn ligaments, cartilage damage, meniscal tears, and synovitis has bolstered the need for knee arthroscopy, adding to the product uptake. The escalating emphasis by industry players on innovations will also prove favourable for the business expansion. For instance, leading medical device firm Pristine Surgical, in April 2023 completed its First Live Arthroscopy via a 4K single-use surgical arthroscope at the Southern California Orthopedic Institute.
Increasing preference for fiber-optic endoscopes
The rigid fiber-optic endoscopes market share is poised to depict appreciable expansion through 2032 due to rising application in the medical field to enable non-invasive and precise examination in the diagnosis of various conditions and situations. The growing adoption of fiber optics in medical devices, such as endoscopes and laparoscopes, has led to the significantly improved surgical processes for patients. Significant advancements in bronchoscopy, urology and gynaecology.
Clinics to witness immense adoption
The rigid endoscopes market from the clinics segment will garner commendable traction between 2023 and 2032. The development can be attributed to the growing popularity of laparoscopes and ENT endoscopes in clinical settings for medical procedures and examinations to offer high image quality, durability, ease of cleaning and sterilization, precise instrumentation and cost-effectiveness. The rising regulatory support for promoting improved clinical outcomes is another major factor driving the industry expansion. For instance, the American Gastroenterological Association (AGA), in December 2022, completed its first investment for Virgo Surgical Video Solutions Video Solutions, an AI-driven endoscopy capture as well as clinical trials platform to offer enhanced clinical care.
Asia Pacific to emerge as a profitable market
APAC rigid endoscopes market size is expected to witness considerable increase between 2023 and 2032 due to the rising burden of gastrointestinal and urological disorders. As per the National Center for Biotechnology Information (NCBI), more than 12% of the total Indian population suffers from kidney stones. The surging awareness regarding preventive healthcare practices has led to the growing interest in health check-ups and early detection of diseases in the region. Moreover, the booming medical tourism sector along with the surge in government healthcare initiatives and policies for supporting the deployment of advanced medical technologies.
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Rigid Endoscopes Market Participants
B Braun Melsungen AG, Boston Scientific Corporation, Conmed Corporation, Cook Medical, Ethicon, and Fujifilm Holdings Corporation are some of the prominent rigid endoscopes industry players. These firms are focusing on new product developments and approvals to sustain the rising market competition. For instance, in August 2021, FUJIFILM Medical Systems U.S.A., Inc., commercially launched its new video imaging technology, ELUXEO® 7000X System, for enabling real-time visualization of hemoglobin oxygen saturation levels in tissue deploying laparoscopic and endoluminal imaging.
Partial Table of Contents (ToC) of the report:
Chapter 3 Rigid Endoscopes Market Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
18.104.22.168 Growing prevalence of chronic conditions
22.214.171.124 Technological advancements
126.96.36.199 Rising adoption of minimally invasive surgeries
188.8.131.52 Increasing health awareness and demand for early-stage diagnosis
3.2.2 Industry pitfalls & challenges
184.108.40.206 High cost related to product
220.127.116.11 Limited flexibility
3.3 Growth potential analysis
3.3.1 By product
3.3.2 By technology
3.3.3 By usability
3.3.4 By end-use
3.4 COVID-19 impact analysis
3.5 Regulatory landscape
3.6 Reimbursement scenario
3.7 Pricing analysis, 2022
3.8 Technology landscape
3.9 Future market trends
3.10 Gap analysis
3.11 Porter’s analysis
3.12 PESTEL analysis
Chapter 4 Competitive Landscape, 2022
4.2 Company matrix analysis, 2022
4.3 Company market share analysis, 2022
4.4 Competitive positioning matrix
4.5 Vendor matrix analysis
4.6 Strategy dashboard, 2022
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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