According to the industry analysis 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 is slated to witness a stellar growth rate of 6.50% through 2026 and amass a substantial valuation by the end of 2026.  

Increasing pervasiveness of chronic diseases, growing inclination towards minimally invasive surgeries, and rapid adoption of endoscope for treatment and diagnostic purposes are favoring global endoscopes market growth.

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Also, R&D activities and technological advancements in the field are likely to enhance revenue flow in the forthcoming years.

The onset of the Covid-19 pandemic and the ensuing lockdown restrictions across the globe caused major disruptions across several industries over the past few years. In a bid to suppress the spread of the virus, non-emergency surgeries were postponed, diverting medical resources towards fighting the crisis, thereby severely affecting revenue margins of the market space.  

Moving on, worldwide endoscopes market is segregated on the basis of product type, application spectrum, end-user scope, and regional expanse.

Speaking of the application spectrum, extensive product utilization across various diagnostic procedures including arthroscopy, cystoscopy, laparoscopy, and gastrointestinal endoscopy is anticipated to enhance the revenue scope of industry during the forecast timeframe.

From a regional frame of reference, Asia Pacific is touted to be a lucrative avenue for industry expansion during the analysis period, attributable to burgeoning demand for endoscopic procedures, and significant improvements in the healthcare infrastructure.

The competitive framework of this business sphere is defined by prominent players such as Stryker Corporation, Hoya Corporation, ConMed Corporation, Medtronic plc, Karl Storz SE & Co. KG, Fujifilm Healthcare Americas Corporation, Johnson & Johnson (J&J), Olympus Corporation, Boston Scientific Corporation, and Steris Corporation.

Growing awareness regarding new endoscopic procedures is expected to compel existing industry players to accelerate their production capacity, while also encouraging new entrants to expand their business and amplify profits during the study period.

For instance, in 2020, Olympus Corporation announced its novel and advanced U.S. FDA approved endoscopy system dubbed EVIS X1 which will aid in getting enhanced outcomes in case of stomach, colon, esophagus and bronchial disorders.

Moreover, the company completed the acquisition of Quest Photonic Devices B.V.(Netherlands), in 2021 to add abdominal surgical instruments into its product portfolio and strengthen its presence in the global endoscopes marketplace.