At 6.6% CAGR, the South & Central America Endoscopy Procedures Market is Projected to be Worth US$ 2,417.91 million by 2030, Says Business Market Insights

According to Business Market Insights research, the South & Central America endoscopy procedures market was valued at US$ 1,446.14 million in 2022 and is expected to reach US$ 2,417.91 million by 2030, registering a CAGR of 6.6% from 2022 to 2030. Growing preference for minimally invasive surgeries and increasing prevalence of cancer attributed to the South & Central America endoscopy procedures market expansion.        

Minimally Invasive Surgeries (MIS) cause less post-operative pain, so patients receive less painkillers. As minimal cuts or stitches are involved, hospitalization is relatively shorter, and patients need not visit the hospital frequently. People prefer minimally invasive procedures to traditional open surgeries involving long incisions made through the muscles. These muscles take a huge amount of time to heal. MIS involves smaller incisions, leading to faster recovery. Also, the body scars involved in MIS are barely noticeable. The main advantage of MIS over conventional open surgeries is the accuracy due to video-assisted equipment, which produces a better and magnified image of the organs or body parts being operated. These surgeries are gaining popularity among the geriatric population due to the relatively shorter recovery time.  According to the article "Anatomic Study of Endoscopic Trans nasal Approach to Petrous Apex," published in January 2020, endoscopy systems are commonly used in MIS to find the cause of specific issues and symptoms. Traditionally, most of the space difficult to observe by microscope can be exposed through endoscopic-assisted technology. Endoscopy can flexibly change the angle and observe the surrounding anatomical structure through the natural human foramen. It can provide the surgeon an open visual field and an operation channel without retraction, significantly improving the surgery's quality. Thus, flexible endoscopy systems are mostly preferred by surgeons. Thus, the major factors leading to the market growth are the growing inclination toward minimally invasive surgeries (MIS).

On the contrary, risks of infections associated with endoscopic procedures hampers the South & Central America endoscopy procedures market.  

Based on procedure, the South & Central America 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 25.2% share of South & Central America endoscopy procedures market in 2022, amassing US$ 364.39 million. It is projected to garner US$ 591.51 million by 2030 to expand at 6.2% CAGR during 2022–2030. 

In terms of offering, the South & Central America 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 35.4% share of South & Central America endoscopy procedures market in 2022, amassing US$ 511.96 million. It is projected to garner US$ 867.45 million by 2030 to expand at 6.8% CAGR during 2022–2030.

Based on product type, the South & Central America endoscopy procedures market is bifurcated into disposable and reusable. The reusable segment held 80.6% share of South & Central America endoscopy procedures market in 2022, amassing US$ 1,165.73 million. It is projected to garner US$ 1,848.47 million by 2030 to expand at 5.9% CAGR during 2022–2030.

In terms of end user, the South & Central America endoscopy procedures market is segmented into hospitals and clinics, ambulatory surgical centers, diagnostic laboratories, and others. The hospitals and clinics segment held 58.2% share of South & Central America endoscopy procedures market in 2022, amassing US$ 841.69 million. It is projected to garner US$ 1,390.93 million by 2030 to expand at 6.5% CAGR during 2022–2030.

By country, the South & Central America endoscopy procedures market has been categorized into the Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 57.4% share of South & Central America endoscopy procedures market in 2022. It was assessed at US$ 829.44 million in 2022 and is likely to hit US$ 1,357.49 million by 2030, exhibiting a CAGR of 6.4% during 2022–2030.      

Key players operating in the South & Central America endoscopy procedures market Stryker Corp, Smith & Nephew Plc, Arthrex Inc, Olympus Corp, and Boston Scientific Corp, among others.

• The Stryker in Oct-2021, Company News       Stryker had announced the establishment of the R&D Lab in Queensland, Australia that build on existing partnerships with hospitals, researchers, universities, and local governments to drive the transformation of research into viable, commercially available precision medical device technology.
• The Stryker in Sep-2021, Mergers and Acquisitions   Stryker had completed the acquisition of Gauss Surgical. Gauss Surgical is a medical device company that has developed Triton.
• The Fujifilm in Jul-2023, Company News        FUJIFILM Corp reorganized its Medical Systems group companies in Japan to strengthen its Medical Systems business structure. Fujifilm reorganized its group companies in Japan involved in the Medical Systems business based on their functional roles to further strengthen each function, including business strategy, R&D, and sales and maintenance services. The reorganization is scheduled to be completed in the summer of 2024.

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