Australia Endoscopy Equipment Market Size, Share, Growth, Trends, and Global Industry Analysis: Size, Share, Growth, Trends, and Industry Analysis By Product (Endoscope, Visualization System, Accessories, and Others), By Application (Gastrointestinal (GI) endoscopy, Laparoscopy, Obstetrics/gynecology endoscopy, Arthroscopy, Urology endoscopy (cystoscopy), Bronchoscopy, Mediastinoscopy, Otoscopy, Laryngoscopy, Other Applications), By End User (Hospital, Ambulatory Surgery Centres and Others) and Country

Australia Endoscopy Equipment Market size was valued at US$ 762.1 million in 2023 and is poised to grow at a CAGR of 5.8% from 2024 to 2030. Endoscopy is used to identify, treat, and prevent problems related to the visceral organs. These devices are inserted into the body either by natural cavities or openings like the mouth and anus, or by incisions, particularly in arthroscopy cases. A camera or light source at the tip of an endoscope is one of several additional components that endoscopists and other medical practitioners can use to investigate internal organs of interest while using endoscopy devices. Investigating digestive system symptoms such as nausea, vomiting, stomach pain, trouble swallowing, and gastrointestinal bleeding may be done with an endoscopy. The key factors responsible for the market growth include the rising prevalence of gastrointestinal diseases, technological advancements, the aging population, government initiatives, and healthcare funding.

For instance, one of the most prevalent gastrointestinal malignancies in the world is colorectal cancer. The World Health Organization (WHO) estimates that 1.93 million new cases of colorectal cancer were reported in 2020, making it the third most frequent cancer globally. At 38.7 cases per 100,000, Australia has one of the highest incidence rates of colorectal cancer worldwide. However, the high cost of endoscopic equipment, the risk of infection and complications, lack of skilled professionals are the limiting factors for the market growth. furthermore, expansion in rural health care, growing demand for minimally invasive procedures, and integration of AI and machine learning are the opportunities for market growth. In addition, the adoption of capsule endoscopy, the rise of telemedicine in endoscopy, focus on preventive health care, with sustainability and disposal of endoscopic instruments are the market trends.

Australia Endoscopy Equipment Market Key Developments:

• In January 2023, to broaden its selection of endoscopic solutions, FUJIFILM India, a leader in diagnostic imaging and information solutions for healthcare facilities, announced the release of ClutchCutter and FushKnife.
• In 2023, Together, Medtronic and NVIDIA developed an AI platform for medical devices that improved doctors' capacity to identify polyps connected to colorectal cancer by fusing NVIDIA's edge AI and healthcare technologies with Medtronic's GI GeniusTM intelligent endoscopy module