According to the research report titled ‘Global Endoscopes Market (2021 Edition) - Analysis By Product Type (Flexible, Rigid, Others), Application (GI, Laparoscopy, Arthroscopy, Others) End User, By Region, By Country: Market Insights and Forecast with Impact of COVID-19 (2021-2026)’, available with MarketStudyReport, global endoscopes market was valued at USD 10.97 billion in 2020 and is projected to witness a steady CAGR of 6.5% throughout the forecast timespan 2021-2026.
 

Rising popularity of minimally invasive surgeries, increasing prevalence of chronic diseases (cancer, gastrointestinal disease, heart disease), aging population, increasing healthcare expenditure, and emerging new endoscopic products are largely driving global endoscope market demand. Besides, demand from developed economies is likely to support the endoscopy devices industry in the forthcoming years.
 

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Elaborating on COVID-19 impact, the market witnessed a major setback due to regional lockdowns, travel restrictions, and stay-at-home orders. Furthermore, in order to minimize the spread of infection and comply with government orders, many non-urgent surgical or endoscopic treatments were postponed which substantially affected the market growth.
 

Growing reliance on endoscopes for treatment and diagnosis, along technological improvements will continue enhancing the industry outlook for various procedures such as gastrointestinal endoscopy, arthroscopy, laparoscopy, cystoscopy, and so on.
 

The market size is fragmented on the basis of product type (rigid, flexible, others), application (GI, arthroscopy, laparoscopy, others), and end user (hospitals, ambulatory surgical centers, and others).
 

With respect to geographical aspect, global endoscopes market size spans across North America (U.S., Canada), Europe (UK, Germany, France, Italy), Asia Pacific (Japan, China, Australia, India). Among the listed regions, Asia Pacific market is predicted to develop steadily owing to rising demand for endoscopic operations, rising medical tourism, and improving healthcare infrastructure.
 

Speaking of the competitive landscape, growing competition due to rising need for endoscopes, along increased awareness and acceptance of endoscopes & related technologies will stimulate the entrance of new enterprises in the future.
 

Karl Storz SE & Co. KG, Fujifilm Corp., Steris Corp., Medtronic plc, Boston Scientific Corp., ConMed Corp., Stryker Corp., Hoya Corp., Johnson & Johnson, and Olympus Corp. are among the major contenders in worldwide endoscopes industry.