Market Research Future (MRFR) has published a cooked research report on the “Global Ultra-High-Definition Endoscopy Market” that contains information from 2019 to 2030. The Ultra-High-Definition Endoscopy Market is expected to register a CAGR of 12.28% during the forecast period 2023-2030, to reach USD 8.49 billion by 2030.
Market Highlights
The Ultra-High-Definition Endoscopy market is projected to reach USD 8.49 billion by 2030 at 12.28% CAGR during the forecast period 2023-2030.
The global ultra-high-definition endoscopy market is driven by several factors such as an increasing prevalence of endoscopy for treatment and diagnosis, increasing demand for minimally invasive procedure, and technological advancements leading to enhanced applications. As per a study conducted by the Japan Society of Gynecologic and Obstetric Endoscopy, over 67,000 ultra-high-definition endoscopic procedures were carried out in 3 years. In the US, over 75 million procedures were performed. Similarly, according to a study published in the British Medical Journal, over 2 million ultra-high-definition endoscopic procedures were carried out in the study period. Thus, with a staggering use of ultra-high-definition endoscopic procedures for accurate diagnoses, we would see further demand for the devices in the years to come. However, lack of skilled technicians is anticipated to hamper the market growth.
Key Players
Some of the key market players are Olympus Corp. (Japan), PENTAX Medical (Japan), Ethicon US, LLC (US), FUJIFILM Holdings Corp. (Japan), Stryker (US), Boston Scientific Corp. (US), CONMED Corp. (US), Karl Storz GmbH & Co., KG (Germany), Richard Wolf Medical Instruments (US), Medtronic (Ireland).
Explore In-depth Details: Ultra-High-Definition Endoscopy Market Research Report
Segmentation
The global ultra-high-definition endoscopy market has been segmented into device type, application, and end-user.
Based on device type, the market has been segmented into 4K ultra-high definition (UHD), and 8K ultra-high definition (UHD) devices. The 4K ultra-high definition (UHD) held the largest segment in 2022. It is attributed due to improved visibility and allows more precise and safe surgery; it also provides four times more information than conventional Full HD imaging system.
Based on application, the market has been segmented into arthroscopy, laparoscopy, Gi endoscopy, obstetrics/gynecology, ENT endoscopy, pulmonary endoscopy, and others. The laparoscopy segment held a largest share in 2022 due to rise in laparoscopic procedures and technological advancements in ultra-high-definition endoscopy.
Based on end user, the market has been segmented into hospitals, ambulatory surgical centers, and others. The hospital segment held a highest share in 2022 due more sophisticated ultra-high-definition endoscopic techniques, that are expected to boost patient preference for hospitals.
Regional Analysis
North America is likely to dominate the ultra-high-definition endoscopy market due to its surge in demand for devices and increasing functional gastrointestinal (GI) disorder cases. Moreover, the growing prevalence of several chronic diseases such as cancer, diabetes, cardiovascular diseases further supplementing the market growth.
Europe is likely to account for a significant share in the ultra-high-definition endoscopy market due to growing awareness for early disease diagnosis using minimally invasive procedures and improved healthcare infrastructure.
Asia-Pacific is projected to be the fastest-growing regional market during the forecast period due to factors such as large population base and an increasing number of functional gastrointestinal disorder patients. Furthermore, global key players' initiatives to expand operations in the region are also boosting the market growth.
The market's growth in the Rest of the World is slower than in the other regions due to presence of poorer economies and a lack of skilled technicians. However, government initiatives to develop the healthcare infrastructure and bring in new technologies are expected to drive market growth.