Endoscopy Fluid Management Market - Forecast(2024 - 2030)

Endoscopy Fluid Management Market Overview

The Endoscopy Fluid Management Market size is estimated to reach $2.3 billion by 2027. Furthermore, it is poised to grow at a CAGR of 8.7% over the forecast period of 2022-2027. The medical procedure which allows the medical professionals to gauge the imagery of internal organs and system functioning is classified as endoscopy. The fluid-management prospects allow the professionals to check for various body fluids which may or may not hinder the vision during the procedure. Furthermore, some of the extremely critical whilst important enzymes and digestive juices are found in digestive systems or the gastrointestinal tracks. Thereby operations involving minimalistic surgeries are preferred, keeping in the cover that fluid-management systems are extremely notional for positive patient experience. Around 10 million gastrointestinal endoscopic techniques and medical imaging techniques are performed every year in the United States for various reasons. Furthermore, the demand has been soaring over the last decade owing to changes in preferences for doctors and patients to skew towards minimally invasive surgeries-as it improves patient care and reduces substantial cost and post-operation complications. The following factors allow the Endoscopy Fluid Management Industry to grow in a competitive environment.

Endoscopy Fluid Management Market Report Coverage

The report: “Endoscopy Fluid Management Market Forecast (2022-2027)", by Industry ARC covers an in-depth analysis of the following segments of the Endoscopy Fluid Management Market.

By Product- Laparoscopy Fluid Management Systems, Laparoscopy Suction Irrigation Pumps, Hysteroscopy Fluid Management Systems, and Hysteroscopy Pumps.
By Modality- Floor Standing and Benchtop.
By End-Use- Hospitals, Ambulatory Surgical Centers, Specialty Clinics, and Diagnostic Centers.
By Geography- North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), and Rest of the World (the Middle East, and Africa).

Key Takeaways

Endoscopy Fluid Management Market- Geography (%) for 2021.

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Endoscopy Fluid Management Market Segmentation Analysis- By Product

The endoscopy fluid management market based on the product can be further segmented into Laparoscopy Fluid Management Systems, Laparoscopy Suction Irrigation Pumps, Hysteroscopy Fluid Management Systems, and Hysteroscopy Pumps. Laparoscopy Suction Irrigation Pumps held a dominant market share in the year 2021. The following market hold is owing to its compactness and easy-to-use system to perform gastrointestinal disorders in the gastrointestinal tract. Irritable Bowel Syndrome or IBS, a common form of the gastro-intestinal disorder has seen a rising prevalence in ages across the demographics. As per GI Org, IBS prevalence is close to 10%-15% of the people in the United States. Similarly, in the U.K. around 10-20% of the entire population suffers from conditions such as IBS. Growing age has been a common association with disease progression and severity, which in turn positively benefits the endoscopy fluid management market. However, Hysteroscopy Fluid Management Systems are estimated to be the fastest-growing, with a CAGR of 9.4% over the forecast period of 2022-2027. It is owing to its benefits such as shorter recovery time, shorter hospital stay, and avoidance of open abdominal surgery during the hysteroscopy.

Endoscopy Fluid Management Market Segmentation Analysis- By End-Users

The endoscopy fluid management market based on end-users can be further segmented into Hospitals, Ambulatory Surgical Centers, Specialty Clinics, and Diagnostic Centers. Hospitals held a dominant market share in 2021. It is owing to immense footfall in the following location for patients. Furthermore, hospitals are backed by multinational organizations which allow them to secure funding at a broader level, which in turn leverages technological and latest model adoptions. Critically, the revenue streams for hospitals are more from more than one stream, which in turn allows patients to get a variety of diseases cured. Lastly, U.S. Medicaid and Medicare along with Private insurance companies cover a plethora of services offered under endoscopy fluid management, positively uplifting the market share and growth. However, Ambulatory Surgery Centers are estimated to be the fastest-growing, with a CAGR of 9.7% over the forecast period of 2022-2027. It is owing to robust support from government ancillaries, whose positioning strategy has been that the following end-users have the potential to save billions of dollars in a longer time frame. On average, Medicare saves more than $4.2 billion annually when surgical procedures are performed at ASCs instead of hospital outpatient departments (HOPDs). Likewise, Medicaid and other insurers benefit from lower prices for services performed in the ASC setting. Owing to these factors, the segment would offer strong returns.

Endoscopy Fluid Management Market Segmentation Analysis- By Geography

The endoscopy fluid management market based on Geography can be further segmented into North America, Europe, Asia-Pacific, and Rest of the World. North America held a dominant market share of 39% in 2021. It is owing to the availability of a wide array of technologies and imaging modalities. Moreover, reimbursement policies in the region positively favor market growth. Another important factor that has been influencing the growth of the global endoscopy fluid management systems market is the launch of newer products by the leading players in the market. As per various secondary studies, it can be attributed that major product manufacturers are present in North America which allows the companies to experience local demand, and with the growing slogan for “Make in America”, the market is positioned steadfastly. Additionally, between 2018 and 2020, the rate of public health insurance coverage increased by nearly 0.4 percentage points to 34.8%. In 2020, 87.0 percent of full-time, year-round workers had private insurance coverage, up from 85.1 percent in 2018. However, Asia-Pacific is expected to offer lucrative growth opportunities over the forecast period of 2022-2027. The growth of the regional market is due to the emergence of developing nations such as India and China. These countries are now opening up their economies for the development of their infrastructure including healthcare. This has presented the leading player in the global endoscopy fluid management systems to set up bases in the region and explore the previously untapped geographies for better profit generation.

Endoscopy Fluid Management Market Drivers

A growing population of elderly supplemented by illnesses and health ailments drives the market growth.

Endoscopy is a non-surgical procedure that is used to examine a patient’s digestive tract. Moreover, body fluids can restrict images in the digestive system can restrain the visibility of the images, and interfere with the results obtained. Furthermore, elderly patients prefer to take the routes for minimally invasive surgeries or pursue therapeutics courses. More and more medical professionals are recommending such surgeries to treat chronic diseases. The number of patients within the class of gastrointestinal cancers is increasing globally, moreover, it is the fifth most commonly diagnosed cancer in the world and the seventh most prevalent one, thereby curating a demand for endoscopy fluid management systems. There were an estimated 4.8 million new cases of gastrointestinal (GI) cancers and 3.4 million related deaths, worldwide, in 2018. GI cancers account for 26% of the global cancer incidence and 35% of all cancer-related deaths. As per an NCBI research article, the highest incidence is found in the age group of 60-74 years, closely followed by 75 years of age and older. As per the ACL Government circular, people aged between 65+ were 16% in 2019 and will zoom to touch 21.6% in 2040 of the total population. Hence, factors supporting current demand and future demand are ensured.

Technological advancements in endoscopic fluid management systems have positively augmented the market growth.

The market for endoscopy fluid management has been positively impacted by various business operations amalgamations and product launches along with key technological advancements. For example, in September 2019, Stryker Corporation announced to take over Moibius Imaging LLC, a promising player in imaging technology, thereby increasing its technological knowledge-which allows catering to various other forms of product and service classes. Moreover, in 2019, Karl Storx announced that the company has planned to invest nearly 30 million euros to expand its production facilities. Additionally, advancement in single-port laparoscopic surgery (SLS) utilizes a major incision and can deliver favorable outcomes with fewer hospitalization stays and less postoperative pain. Recently, there have been attempts to develop a new range of SLS instruments with onboard actuators, with the aim to improve the efficiency and safety of SLS procedures. Similarly, other advancements in technological know-how uplift the market penetration.

Endoscopy Fluid Management Market Challenges

The high cost pertaining to minimally invasive surgeries along with life-threatening complications impedes the overall market growth.

The cost for performing endo-surgical procedures is relatively expensive than the next alternative, open surgeries. It is owing to extensive usage of specialized equipment and intensive surgical time. Investment costs of endoscopic equipment and procedures are extremely skewed towards the higher quartile range for developing nations. An average cost to conduct an HD colonoscopy system ranges from $100,000 to $120,000. Thereby, higher investment requirements impede newer players to enter the market, or the newer players are absorbed by giant multinationals, limiting their growth paradigm. Owing to the high capital investment, training, and maintenance costs, endoscopy procedures are highly expensive. Moreover, in Asian countries, there is very limited reimbursement for an endoscopy procedure. This makes physicians and patients opt for an alternative procedure at a lower price, thus hindering the market for endoscopy fluid management systems.

Endoscopy Fluid Management Industry Outlook

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Endoscopy Fluid Management Market. The top 10- Endoscopy Fluid Management Market companies include:

1.  Smith & Nephew
2. Hologic Inc.
3. Olympus Corporation
4. Kaarl Storz GmbH & Co KG
5. Richard Wolf GmbH
6. Cantel Medical Corporation
7. Stryker Corporation
8.  B.Braun Nedical Inc.
9. DePuy synthes
10.  Medtronic Plc

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