At 6.9% CAGR, the Europe Endoscopy Procedures Market is Projected to be Worth US$ 11,582.84 million by 2030, Says Business Market Insights

According to Business Market Insights research, the Europe endoscopy procedures market was valued at US$ 6,786.59 million in 2022 and is expected to reach US$ 11,582.84 million by 2030, registering a CAGR of 6.9% from 2022 to 2030. Growing prevalence for minimally invasive surgeries and increasing prevalence of cancer attributed to the Europe endoscopy procedures market expansion.        

Cancer is a major public health problem and leading cause of death across the world. Increasing gastrointestinal disorders and cancer cases also accelerate the endoscope adoption and market growth. As per the data provided by the European Cancer Information System, in EU-27 countries, colorectal cancer accounted for 12.7% of all new cancers diagnosed and 12.4% of total mortalities caused by the disease in 2020. Further, lung cancer is predicted to have caused 20.4% of all cancer-related fatalities and 11.9% of all new cancer diagnoses (apart from non-melanoma skin cancers) in the EU-27 in 2020. As a result, it became the key cause of cancer-related mortality as well as the fourth most common type of cancer (after colorectal, prostate, and breast cancers). 2020 was predicted to see the diagnosis of over a million cases of stomach cancer, with significant regional variance. The regions with the greatest incidence rates were Eastern Europe and Eastern Asia. Additionally, several Eastern European nations have the highest incidence rates in the world, along with high prevalence rates of the recognized risk factors for stomach cancer. Western countries report a high gastrointestinal (GI) incidence rate due to increasing obesity in the adult population and less consumption of dietary fiber. A study published by United European Gastroenterology (UEG) estimates that over 332 million people in the European region suffer from a digestive disease. Inflammatory bowel disease (IBD) is a term for two conditions – ulcerative colitis (UC) and Crohn’s disease (CD). Moreover, in the last few years, cases of IBD have increased worldwide due to a sedentary lifestyle, changing dietary habits, stress, and poor nutritional choices. The intake of processed foods and trans-fats has drastically increased globally. In 2020, ~ 0.2% of the region’s population suffered from IBD. Also, in Europe, there are 1.5 to 213 cases of CD for every 100,000 people and 2.4 to 294 cases for every 100,000 people with UC. It is estimated that 2.5–3 million persons in Europe, or 0.3% of the population overall, have an IBD diagnosis. Further, chronic inflammation and reduced immunosurveillance caused by IBD may contribute to the development of gastric cancer. Thus, the rising burden of cancer in the region indicates the high requirement for endoscopic devices, thus driving the market growth.

On the contrary, risks of infections associated with endoscopic procedures hampers the Europe endoscopy procedures market.  

Based on Procedure, the Europe endoscopy procedures market is segmented into endoscopic retrograde cholangiopancreatography (ERCP), endoscopic submucosal dissection (ESD), peroral endoscopic myotomy (POEM), endoscopic ultrasound (EUS), interventional pulmonology and laparoscopy, arthroscopy and bronchoscopy, colonoscopy and colposcopy, proctoscopy and thoracoscopy, and others. The others segment held 24.2% share of Europe endoscopy procedures market in 2022, amassing US$ 1,642.31 million. It is projected to garner US$ 2,719.65 million by 2030 to expand at 6.5% CAGR during 2022–2030. 

Based on offering, the Europe endoscopy procedures market is segmented into endoscopes, ERCP accessories, visualization system, head positioner and endotherapy injection needles, sampling device and device clip and electrosurgical knife, endoscopic ultrasound guided devices, guidewire, forceps, snare, irrigation/insufflation tubing systems, probes, hemostats clip, polyps’ traps, single-use valves, trocar sleeves and tissue scissors and cutters, retrieval devices, and others. The endoscopes segment held 33.1% share of Europe endoscopy procedures market in 2022, amassing US$ 2,243.70 million. It is projected to garner US$ 3,883.02 million by 2030 to expand at 7.1% CAGR during 2022–2030.

Based on product type, the Europe endoscopy procedures market is bifurcated into disposable and reusable. The reusable segment held 78.6% share of Europe endoscopy procedures market in 2022, amassing US$ 5,331.30 million. It is projected to garner US$ 8,554.57 million by 2030 to expand at 6.1% CAGR during 2022–2030.

Based on end user, the Europe endoscopy procedures market is segmented into hospitals and clinics, ambulatory surgical centers, diagnostic laboratories, and others. The hospitals and clinics segment held 58.5% share of Europe endoscopy procedures market in 2022, amassing US$ 3,967.42 million. It is projected to garner US$ 6,689.29 million by 2030 to expand at 6.7% CAGR during 2022–2030.

Based on country, the Europe endoscopy procedures market has been categorized into the UK, Germany, France, Italy, Spain, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 34.9% share of Europe endoscopy procedures market in 2022. It was assessed at US$ 2,365.26 million in 2022 and is likely to hit US$ 3,917.67 million by 2030, exhibiting a CAGR of 6.5% during 2022–2030.      

Key players operating in the Europe endoscopy procedures market are Stryker Corp, Merit Medical Systems Inc, Smith & Nephew Plc, Arthrex Inc, Steris Plc, Conmed Corp, Olympus Corp, Boston Scientific Corp, and Cook Medical LLC, among others.

• In May-2023, Stryker had completed the acquisition of Cerus Endovascular Ltd. The acquisition of Cerus Endovascular is highly complementary to Stryker’s Neurovascular business and strengthens the hemorrhagic portfolio globally.
• In Jun- 2022, Stryker had opened its new research and development facility, Stryker’s Global Technology Centre, at the International Tech Park, Gurgaon. The 150,000-square-foot facility further supported the company’s mission to make healthcare better.

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