Posted On: Sep-2022 | Categories : Healthcare
Endoscopy is a nonsurgical or minimally invasive process that allows doctors to view inside a person's body. It is used to diagnose diseases in the stomach, colon, ears, oesophagus, nose, throat, heart, urinary tracts, etc. During an endoscopy, doctors insert endoscopes, a thin tube with a light and tiny camera, into a person's body to see an inner organ in detail.
The global endoscopy devices market in 2021 was $30.3 billion and is predicted to reach $56.2 billion with a CAGR of 7.1% during the forecast period of 2021-2030. The global market for endoscopy devices will expand rapidly for several reasons, including an increase in cancer occurrence, an expanding older populace, and the advantageous position of endoscopic device makers.
Capsule Endoscopy: A small pill containing a tiny camera is swallowed during capsule endoscopy. The capsule moves through the digestive tract painlessly, creating thousands of images of the intestines as it moves through.
Chromoendoscopy: During an endoscopy procedure, chromoendoscopy uses a specialized stain or dye on the lining of the intestine. The dye enables the doctor to determine whether there is anything abnormal on the intestinal lining.
Endoscopic ultrasound (EUS): EUS incorporates an ultrasound with an endoscopy. This enables doctors to see organs and other structures that would not be visible during standard endoscopy. A thin needle is inserted into the organ or structure to extract tissue for examination under a microscope.
Endoscopic mucosal resection (EMR): EMR is a method that helps doctors remove cancerous tissue from the digestive tract. A needle is carried through the endoscope to inject a liquid beneath the abnormal tissue during EMR. This helps to distinguish the cancerous tissue from the other layers, making it easier to remove.
Endoscopy is much less likely to cause bleeding and infection than open surgery. Nonetheless, because endoscopy is a medical procedure, there is some risk of bleeding, infection, and other uncommon complications such as:
Chest pain
Fever
Redness and swelling at the incision site
The elderly are more exposed to chronic and acute illnesses. As a result, the senior population is more likely to use endoscopy procedures. As per the Administration of Community Living (ACL), the number of people aged 65 and older in the United States was 54.1 million in 2019 and is expected to grow to around 94.7 million by 2060. The increasing incidence of chronic disorders is expected to drive endoscopy market growth in the forecasted period.
The growing global cancer incidence also drives the adoption of endoscopy devices for early detection and treatment of the disease. For example, GLOBOCAN 2020 estimates 19.3 million new cancer cases worldwide and nearly 10 million cancer-related deaths in 2020. Furthermore, the growing preference for biopsies for cancer diagnosis and detection in recent years will increase the adoption of endoscopic devices, which is expected to drive the endoscopy device market over the years.
North America held the largest share of 42.3% in 2021 in the market for endoscopy devices due to the increasing incidence of chronic illnesses such as diabetes, cancer, cardiovascular disease, and functional gastrointestinal problems. The American Heart Association estimates that approximately 605,000 new heart attacks and 200,000 repeat heart attacks occur annually in the United States. Every 40 seconds, a stroke occurs, killing one out of every 19 people. The increase in the number of endoscopic processes performed in the United States is expected to propel the industry to grow at a 7.2% annual rate during the forecast period.
Furthermore, due to Asia Pacific's large population and rising number of patients with functional gastrointestinal problems, the industry will likely grow rapidly over the forecast years. During the forecast period, the Indian market is expected to grow at a CAGR of 6.91%. According to one study, in 2035, there will be a 2.5-fold increase in prevalence for Iran, with 69 thousand cases, a 2.3-fold increase for North Africa and the Middle East, with 220 thousand cases, a quadrupling of prevalence for India, with 2.2 million cases, a 1.5-fold increase for East Asia, with 4.5 million cases, and a 1.6-fold increase for the high-income Asia Pacific and Southeast Asia regions, with 183 and 199 thousand cases, respectively as compared to 2020.
Sources
https://www.strategicmarketresearch.com/market-report/endoscopy-devices-market
https://acl.gov/sites/default/files/Aging%20and%20Disability%20in%20America/2020ProfileOlderAmericans.Final_.pdf
https://acsjournals.onlinelibrary.wiley.com/doi/10.3322/caac.21660
https://www.heart.org/en/about-us/heart-and-stroke-association-statistics