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Endoscopy Fluid Management Market size is foreseen to depict appreciable growth rate through 2032, driven by the rising prevalence of chronic diseases that necessitate the need for endoscopic surgeries. As per reliable estimates, chronic disorders are responsible for 60% of all fatalities worldwide. Moreover, approximately half of all American adults suffer from one or more preventable chronic diseases.
Endoscopy fluid management systems play a key role in offering better visibility during endoscopic procedures creating huge demand for these instruments. The mounting demand for these systems coupled with the ongoing product innovations by various prominent endoscopy fluid management market players and solution providers is projected to expedite the industry growth in the forthcoming years. To illustrate, SonoScape in 2022 announced receiving 510 (k) clearance for its HD-550 video endoscopy systems to assist GI diagnosis.
Technological advancements in endoscopy fluid management devices is estimated to support massive development of the market in the near future. Such advancements enable easy conduction of minimally invasive surgeries, influencing the positive market growth.
Endoscopy fluid management market from laparoscopy fluid management systems segment is expected to record appreciable growth over 2023-2032. This can be attributed to the increasing preference for laparoscopy, given its ample benefits including less cutting of tissues and skin, reduced pain, quicker post-operative recovery, and shorter duration of hospital stay. The increasing number of colorectal surgeries will instigate the demand for laparoscopy which, in turn, will drive the product demand. Speculations have it that more than 15 million colonoscopies are performed in the United States annually.
In terms of end-user, the hospital segment is anticipated to capture a substantial share by the end of 2032. The growth can be ascribed to the increasing patient admissions for various surgical procedures in these healthcare settings due to the availability of sophisticated facilities. Various governing bodies are now focusing on ramping up the capacity for surgical procedures. For instance, in 2021, the Canadian government announced its plans to increase its procedural capacity amid declining hospitalizations during the COVID-19 crisis. The government aims for the surgical and procedural output of 110-115% with an investment of USD 324 million.
Regionally, North America is expected to emerge as a growth hub for endoscopy fluid management market over the analysis timeframe of 2023-2032 with the increasing healthcare expenditure in the region. According to the CMS statistics, the National Health Expenditure in the U.S. rose to USD 4.3 trillion in 2021, representing nearly 18.3% of the GDP. Besides, the ongoing technological advancements and availability of highly skilled medical professionals in the region will strengthen the regional market outlook further.
The major players operating in endoscopy fluid management market include Karl Storz GmbH & Co KG, Olympus Corporation, Smith & Nephew, Stryker Corporation, Richard Wolf GmbH, Cantel Medical Corporation (Steris), B. Braun Medical Inc., DePuy Synthes (Johnson & Johnson), Hologic Inc., and Medtronic Plc.