NEW YORK, July 14, 2022 /PRNewswire/ — According to the latest market research study published by P&S Intelligence, in 2021, the global endoscope reprocessing market was worth around $1,879.9 million, and it is predicted to hit $4,358.1 million by 2030, progressing at a 9.8% CAGR from 2021 to 2030. This is primarily due to the growing preference for minimally invasive treatments, increasing danger of infection by contaminated endoscopes, and rising stringency of the rules governing medical device safety on a global scale.
To avoid the complications and extra costs related to the different services offered under contracts with medical equipment manufacturers, end users are increasingly entering into multi-vendor contracts with ISOs. For example, customers may combine all of NovaMed Corporation’s services under a single contract, owing to its extensive service management program.
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With an estimated contribution of $1.0 billion, North America leads the endoscope reprocessing market. This is due to the region’s advantageous reimbursement policies, increase in cancer incidence, and demand for less-invasive procedures. Additionally, the existence of large medical device manufacturers, including Stryker Corporation, Boston Scientific Corporation, Cantel Medical Corp., and Conmed Corporation, makes it simple to find both endoscopes and OEM repair services.
The APAC endoscope reprocessing market is predicted to grow with more than 10.0% CAGR in this decade because of the rise in the volume of endoscopic procedures and improvements in the healthcare system. Additionally, in 2021, China and Japan together held around 50% share in the region, because of the high prevalence of GI-related malignancies in both nations.
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Flexible endoscopes account for the majority of the demand for reprocessing, which is why they held approximately 65.0% share in 2021. This is due to the active release of automated endoscope reprocessors by the leading companies, which are rather compatible with flexible endoscopes.
Due to the rising incidence of infections, including pneumonia and bacteremia, after the usage of endoscopies, the high-level disinfectants and test strip category had an around 35% market share in 2021.
Laparoscopes have a more than 40% endoscope reprocessing market share for rigid endoscopes, as a result of the growing preference for less-invasive operations. This is, in turn, due to their numerous advantages, including fewer post-operative problems and faster recovery compared to open surgeries.
The hospitals category is predicted to grow with around 11% CAGR. This may be ascribed to the increase in the number of endoscopic operations, growth in the count of hospitals throughout the world, and distribution of funding and investments from government organizations.
Endoscope Reprocessing Market Report Coverage
- High-Level Disinfectants & Test Strips
- Detergents & Wipes
- Automated Endoscope Reprocessors
- Endoscope Drying, Storage, & Transport Systems
- Endoscope Tracking Solutions
- Upper gastrointestinal endoscopes
- Gynecology endoscopes
By End User
- Ambulatory Surgical Centers and Clinics
- North America
- South Korea
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
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