Artificial Intelligence and Robotic Innovations Transforming the Global Endoscopy Devices Market

Artificial Intelligence and Robotic Innovations Transforming the Global Endoscopy Devices Market

Growth Strategies Driven by Breakthrough Technologies

RELEASE DATE
15-Feb-2021
REGION
North America
Research Code: MFD9-01-00-00-00
SKU: HC03392-NA-MT_25263
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Description

As the need and preference for minimally invasive surgeries are rapidly rising, the demand for endoscopic procedures is also witnessing substantial growth. Since endoscopes are minimally invasive and use the natural openings of the body for insertion to aid physicians with enhanced images for the purpose of diagnosis and therapy, the need for scopes with smaller diameters and improved flexibility has been leading to the development of advanced endoscopic devices. Since modern endoscopy has few risks, is relatively quick, and delivers detailed images for diagnosis, it has proven incredibly essential across different application segments. Laparoscopy surgeries come with the benefits of faster recovery, fewer postoperative complications, good reimbursement policies, and quick turnaround time, which are some of the reasons why minimally invasive surgeries are experiencing a huge boom.

Application segments for endoscopic procedures are categorized into 8 basic heads: gastrointestinal, pulmonology, neurology, urology, gynecology, ENT, laparoscopy, and arthroscopy. Endoscopy devices by type include rigid endoscopes, flexible endoscopes, and capsule endoscopy. The types can be further divided based on the usability type, that is, whether it’s a reusable or a disposable/single-use endoscope. Endoscopy procedures by care settings types are classified into hospitals (acute care), ambulatory surgical centers/outpatient clinics, general physician offices (non-acute care centers), and diagnostic labs. In terms of endoscopy devices by products, there are endoscopes that are leading the market, followed by accessories, equipment, and visualization and documentation systems.

Driving factors such as increasing demand for minimally invasive surgeries, technological advancements in endoscopy techniques including chromoendoscopy and narrow-band imaging, favorable reimbursement policies, increasing rate of cancer and other major disorders, and rising adoption rate of innovative endoscopy procedures are expected to boost the endoscopy devices market over the forecast period. However, there are certain restraints and challenges thwarting the market growth which include cost, cross-contamination risks from reusable endoscopes due to improper sterilization, variation in reimbursement policies due to application and technology, numerous product recalls tinting reliability, and lack of trained staff and endoscopists.

The endoscopy devices market is currently in the transformation stage as a shift from rigid reusable endoscopes to flexible single-use endoscopes is underway. Increased awareness and recommendation for the prevention of cross-contamination in patients plays a major role in this transformation. In order to address the change in a technologically superior manner, companies are introducing and commercializing innovative technologies such as AI-powered endoscopy and robotic-assisted endoscopy. Capsule endoscopy is also becoming a type of “at home” endoscopy due to the increased risk of hospital-acquired infections as a result of the COVID-19 pandemic. Other innovative endoscopic techniques, including NBI, ERCP, chromoendoscopy, and EMR have also become quite prevalent. More breakthroughs are expected in the next 3 to 4 years as research and development and clinical trials are being carried out, currently, for technologies such as robotic-assisted endoscopy paired with AI and capsule endoscopy enhanced with AI to enable video capsule endoscopy.

Author: Suchismita Das

Table of Contents

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on Endoscopy Devices Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

What Are the Technological Innovations in the Endoscopy Devices Market?

Existing Innovations and Possible Usage in Different Applications

Transformation from Traditional Endoscopy Technologies to Advanced Endoscopy Devices —Technologies, Global, 2020 and2025

Key Growth Metrics for Endoscopy Devices Market

Important Definitions for the Study

Endoscopy Devices Market Scope of Analysis

Endoscopy Devices Market—by Region

Endoscopy Devices Market—by Type

Endoscopy Devices Market—by Application Types

Endoscopy Devices Market—by Endoscopy Equipment and Endoscopy Accessories

Endoscopy Devices Market—Endoscopy Procedures Across Care Settings

Key Competitors for Endoscopy Devices Market—Device Types

Growth Drivers for Endoscopy Devices Market

Growth Restraints for Endoscopy Devices Market

Forecast Assumptions—Endoscopy Devices Market

Revenue Forecast—Endoscopy Devices Market

Revenue Forecast Analysis—Endoscopy Devices Market

Competitive Environment—Endoscopy Devices Market

Market Share—Endoscopy Devices Market

Market Share Analysis—Endoscopy Devices Market

Global Endoscopy Devices Market—A Snapshot

Percent Revenue by Region—Endoscopy Devices Market

Distribution Channels—Endoscopy Devices Market

Summary of Leading Endoscopy Devices Companies

Summary of Leading Endoscopy Devices Companies (continued)

Summary of Leading Endoscopy Devices Companies (continued)

Summary of Leading Endoscopy Devices Companies (continued)

Summary of Leading Endoscopy Devices Companies (continued)

Product Recalls of Endoscopic Devices*

Product Recalls of Endoscopic Devices* (continued)

Key Growth Metrics for Endoscopy Devices Market

Endoscopy Devices Market—United States

Endoscopy Devices Market—United States: by Application

Endoscopy Devices Market—United States: by Care Setting

Endoscopy Devices Market—United States: by Products

Endoscopy Devices Market—United States: by Device Type

Forecast Assumptions—US Endoscopy Devices Market

Revenue Forecast—Endoscopy Devices Market: United States

Revenue Forecast Analysis—US Endoscopy Devices Market

Competitive Environment—NA Endoscopy Devices Market

Key Growth Metrics for Endoscopy Devices Market

Endoscopy Devices Market—Western Europe: by Country

Endoscopy Devices Market—Western Europe: by Applications

Endoscopy Devices Market—Western Europe: by Device Types

Endoscopy Devices Market—Western Europe: by Equipment and Accessories

Endoscopy Devices Market—Western Europe: by Care Settings

Forecast Assumptions—Western Europe Endoscopy Devices Market

Revenue Forecast—Endoscopy Devices Market: Western Europe

Revenue Forecast Analysis—Western Europe Endoscopy Devices Market

Competitive Environment—Europe Endoscopy Devices Market

Key Growth Metrics for Endoscopy Devices Market

APAC Hot Spots for Endoscopy

Endoscopy Devices Market—APAC: by Applications

Endoscopy Devices Market—APAC: by Equipment and Accessories

Endoscopy Devices Market—APAC: by Care Settings

Forecast Assumptions—APAC Endoscopy Devices Market

Revenue Forecast—Endoscopy Devices Market: APAC

Revenue Forecast Analysis—APAC Endoscopy Devices Market

Competitive Environment—APAC Endoscopy Devices Market

Existing Innovations and its Possibilities of Usage in Different Applications

Endoscopic Innovation—EUS

Endoscopic Innovation—AI-powered Endoscopy

Endoscopic Innovation—Robotic-assisted Endoscopy

Endoscopic Innovation—Advanced Imaging Innovations

Endoscopic Innovation—Advanced Imaging Innovations (continued)

Growth Opportunity 1: Increased Recommendations for Flexible Single-use Endoscopes and Disposable Sheaths Transform the Market Landscape, 2021

Growth Opportunity 1: Increased Recommendations for Flexible Single-use Endoscopes and Disposable Sheaths Transform the Market Landscape, 2021 (continued)

Growth Opportunity 2: Rising Incidence of Cancer and Other Health Conditions would Spur Innovative Technology Adoption, 2021

Growth Opportunity 2: Rising Incidence of Cancer and Other Health Conditions would Spur Innovative Technology Adoption, 2021 (continued)

Growth Opportunity 3: Endoscopes Powered by AI has the Potential to be the Future of Cancer Detection, 2021

Growth Opportunity 3: Endoscopes Powered by AI has the Potential to be the Future of Cancer Detection, 2021 (continued)

Growth Opportunity 4: Robotics takes Endoscopy to Next-level of Precision, Comfort and Enhanced Speed, 2021

Growth Opportunity 4: Robotics takes Endoscopy to Next-level of Precision, Comfort and Enhanced Speed, 2021 (continued)

Growth Opportunity 5: Capsule Endoscopy is Poised to become the “at Home” Endoscopy Procedure, 2021

Growth Opportunity 5: Capsule Endoscopy is Poised to become the “at Home” Endoscopy Procedure, 2021 (continued)

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Related Research
As the need and preference for minimally invasive surgeries are rapidly rising, the demand for endoscopic procedures is also witnessing substantial growth. Since endoscopes are minimally invasive and use the natural openings of the body for insertion to aid physicians with enhanced images for the purpose of diagnosis and therapy, the need for scopes with smaller diameters and improved flexibility has been leading to the development of advanced endoscopic devices. Since modern endoscopy has few risks, is relatively quick, and delivers detailed images for diagnosis, it has proven incredibly essential across different application segments. Laparoscopy surgeries come with the benefits of faster recovery, fewer postoperative complications, good reimbursement policies, and quick turnaround time, which are some of the reasons why minimally invasive surgeries are experiencing a huge boom. Application segments for endoscopic procedures are categorized into 8 basic heads: gastrointestinal, pulmonology, neurology, urology, gynecology, ENT, laparoscopy, and arthroscopy. Endoscopy devices by type include rigid endoscopes, flexible endoscopes, and capsule endoscopy. The types can be further divided based on the usability type, that is, whether it’s a reusable or a disposable/single-use endoscope. Endoscopy procedures by care settings types are classified into hospitals (acute care), ambulatory surgical centers/outpatient clinics, general physician offices (non-acute care centers), and diagnostic labs. In terms of endoscopy devices by products, there are endoscopes that are leading the market, followed by accessories, equipment, and visualization and documentation systems. Driving factors such as increasing demand for minimally invasive surgeries, technological advancements in endoscopy techniques including chromoendoscopy and narrow-band imaging, favorable reimbursement policies, increasing rate of cancer and other major disorders, and rising adoption rate of innovative endoscopy procedures are expected to boost the endoscopy devices market over the forecast period. However, there are certain restraints and challenges thwarting the market growth which include cost, cross-contamination risks from reusable endoscopes due to improper sterilization, variation in reimbursement policies due to application and technology, numerous product recalls tinting reliability, and lack of trained staff and endoscopists. The endoscopy devices market is currently in the transformation stage as a shift from rigid reusable endoscopes to flexible single-use endoscopes is underway. Increased awareness and recommendation for the prevention of cross-contamination in patients plays a major role in this transformation. In order to address the change in a technologically superior manner, companies are introducing and commercializing innovative technologies such as AI-powered endoscopy and robotic-assisted endoscopy. Capsule endoscopy is also becoming a type of “at home” endoscopy due to the increased risk of hospital-acquired infections as a result of the COVID-19 pandemic. Other innovative endoscopic techniques, including NBI, ERCP, chromoendoscopy, and EMR have also become quite prevalent. More breakthroughs are expected in the next 3 to 4 years as research and development and clinical trials are being carried out, currently, for technologies such as robotic-assisted endoscopy paired with AI and capsule endoscopy enhanced with AI to enable video capsule endoscopy. Author: Suchismita Das
More Information
No Index No
Podcast No
Author Suchismita Das
Industries Healthcare
WIP Number MFD9-01-00-00-00
Is Prebook No
GPS Codes 9600-B1,9A47-B1,9A48-B1,9A49-B1,9A4B-B1