Endoscopy Fluid Management Market to Reach USD 1.29 Billion, Globally, by 2031 at 7.2% CAGR: Allied Market Research

The increase in the number of the endoscopic procedures, an increase in the prevalence of chronic diseases, the surge in demand for a minimally invasive procedure, and increase in unmet healthcare needs drive the growth of the global endoscopy fluid management market.

PORTLAND, Ore., Feb. 16, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Endoscopy Fluid Management Market by Product (Endoscopy fluid management system, Endoscopy fluid management accessories), by Application (Laparoscopy, Hysteroscopy, Others), by End User (Hospital, Clinics, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global endoscopy fluid management industry generated $640.6 million in 2021, and is anticipated to generate $1.29 billion by 2031, witnessing a CAGR of 7.2% from 2022 to 2031.

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Prime determinants of growth

The increase in the number of the endoscopic procedure, an increase in the prevalence of chronic diseases such as gastric cancer, abnormal uterus bleeding, peptic ulcer, the surge in demand for a minimally invasive procedure, and increase in unmet healthcare needs drive the growth of the global endoscopy fluid management market. However, the government's and environmental organizations' proactive actions against pollution restrict the market growth. Moreover, growth & innovations in the medical device industry for the manufacturing of endoscopy fluid management systems present new opportunities in the coming years.

Impact of Covid-19 on Endoscopy Fluid Management Market-

• The outbreak of the Covid-19 pandemic had a negative impact on the global endoscopy fluid management market, as a huge number of clinics and hospitals across the globe were restructured to increase the hospital capacity for patients diagnosed with COVID-19.
• The COVID-19 pandemic has changed the way healthcare providers and medical device manufacturers approach endosurgery fluid management systems. The COVID-19 pandemic affected multiple sub-specialists and procedure-related filed such as gastroenterology.
• A significant proportion of these endoscopic procedures are affected due to national and regional lockdowns across the globe, which in turn, hampered the market growth.

The endoscopy fluid management system segment to maintain its leadership status throughout the forecast period

Based on product, the endoscopy fluid management system segment held the highest market share in 2021, accounting for nearly three-fifths of the global endoscopy fluid management market, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to advancement in technology in healthcare sector, and high cost of endoscopy fluid management system as compared to accessories. However, the endoscopy fluid management accessories segment is projected to manifest the highest CAGR of 7.5% from 2022 to 2031, owing to increase in use of collecting bags, sutures.

The laparoscopy segment to maintain its leadership status throughout the forecast period

Based on application, the laparoscopy segment held the highest market share in 2021, accounting for more than half of the global endoscopy fluid management market, and is estimated to maintain its leadership status throughout the forecast period. This segment is projected to manifest the highest CAGR of 7.6% from 2022 to 2031, due to increase in number of laparoscopy procedure.

The hospitals segment to maintain its lead position during the forecast period

Based on end user, the hospitals segment accounted for the largest share in 2021, contributing to more than two-thirds of the global endoscopy fluid management market, and is projected to maintain its lead position during the forecast period. This segment is expected to portray the largest CAGR of 7.6% from 2022 to 2031, owing to increase in number of endoscopy procedure, development of advanced hospitals and availability of these products at hospitals.

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North America to maintain its dominance by 2031

Based on region, North America held the highest market share in terms of revenue in 2021, accounting for more than one-third of the global endoscopy fluid management market, and is likely to dominate the market during the forecast period. This is attributed to rise in the number of product launch, increase in the number of key players to manufacture endoscopy fluid management system, and development of healthcare infrastructure. However, the Asia-Pacific region is expected to witness the fastest CAGR of 8.0% from 2022 to 2031, owing to increase in prevalence of gastrointestinal disease, and rise in expenditure by government organization to develop the advanced healthcare device.

Leading Market Players: -

• Medtronic PLC
• STERIS PLC
• KARL STORZ SE & Co. KG
• Arthrex Inc.
• B. Braun SE
• Stryker Corporation
• Hologic Inc.
• CONMED Corporation,
• Olympus America Inc.
• COMEG Medical Technologies

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"We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market."

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