Disposable Endoscopes Market Value to Hit US$ 3.1 Bn by 2026

Thursday, August 8, 2019 General News
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The global disposable endoscopes market value is expected to hit $3.1 billion by 2026 and projected to rake 27.1% CAGR during the forecast period 2018 to 2026 - Acumen Research and Consulting

LOS ANGELES, Aug. 8, 2019 /PRNewswire/ -- Disposable endoscopes are the miniature and elongated microscope used on a

patient by the physicians. These are used to examine the organ or internal canals of the patient, like gastrointestinal tract or respiratory tract. Reusing endoscopes can cause infections that threaten patient's lives. A major factor driving demand for disposable endoscopes market is the increased incidence of nosocomial infections due to contaminated endoscopes. Recent developments in disposable endoscopes, particularly bronchoscopes and colonoscopies, are also expected to have a positive impact on disposable endoscopes market growth during forecast period.

Growing need for cost reduction in endoscopy procedures spur the demand for disposable endoscopes due to its cost-effective nature than reusable endoscopes. It is further expected that high cost of reprocessing procedures for reusable endoscopes will drive the market. Failure to comply with current reprocessing procedures and failure to comply with the reprocessing guidelines will further bolster the adoption and acceptance of disposable endoscopes. The global disposable endoscopes market is expected to grow at CAGR 25.3% during the forecast period.

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Increasing demand for low-cost endoscopes can lead to elevated endoscopic single-use acceptance. Flexible scope price involves equipment costs as well as maintenance and reprocessing costs of the equipment. Furthermore, hospitals and clinics must buy advanced cleaning materials and chemicals for the decontamination of machines, which add up to the complete procedural costs. The general reprocessing price for one endoscope varies from US$ 114.07 to US$ 280.71.

The market for disposable endoscopes is fragmented and a large number of players in both domestic and international markets offer disposable endoscopes. Key players have accelerated their efforts to expand international trade to benefit from Asia Pacific and Latin America's rapidly growing and emerging markets. However, the market in regions such as Europe and North America is significantly large, the market is well developed and manufacturers focus on capitalizing on the opportunities presented in the Asia Pacific region by the emerging nations. In addition, many key manufacturers operate across the Asia Pacific region in different countries and thus have a strong presence in these markets. Thus, as the market is fragmented and a large number of players are struggling with the opportunities present in emerging economies, the leading players are also investing heavily in emerging regions and are using international trade as a media to impel their income and achieve global dominance.

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Hill Rom Holdings, Inc.; Ambu A/S; OBP Medical Corporation; Boston Scientific Corporation; and Flexicare Medical Ltd are some of the key players operating in this market. Players have been engaging in mergers and acquisitions to expand their product portfolio. For instance, in 2019, Ambu A/S announced the acquisition of invendo medical GmbH to enter into the market for single use GI endoscopy devices. Similarly, in 2015, Hill Rom Holdings acquired Welch Allyn to incorporate a diverse platform of disposable scopes into their portfolio. Companies are also continuously investing in technological product advancements to compete in this market.

Key Findings

The global disposable endoscopes market was valued at US$ 515.7 Million in 2017 and the volume for the year 2017 stood at 4,042.4 k units. The market is expected to grow at revenue and volume CAGRs of 24.4% and 25.3% respectively reaching US$ 2,951.4million USD and 24,535.9 k units by 2025.

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Bronchoscopy dominated the market globally, occupying 39.5% volume share in 2017. Rise in the number of bronchoscopes related infections are contributing to the growth of the segment. However, Urologic endoscopy is anticipated to witness fastest growth at 26.0% from 2018 to 2025 owing to growing prevalence of post ureteroscopy infection. GI endoscopy also contributed significant share in the overall sales and revenue.

Hospitals accounted for the largest chunk of the market in terms of end-user adoption accounting for about 47.0% volume share in 2017 followed by diagnostic centers segment which occupied 31.3% market share in 2017. However, others led by clinics is expected to witness fastest growth over the forecast period from 2017 to 2026.

North America represented the largest disposable endoscopes market owing to high prevalence of nosocomial infections in the U.S. hospitals. However, Asia Pacific is expected to offer major growth opportunities to the disposable endoscopes market in the coming years. This is due to the risk of healthcare-associated infections which is estimated to be two to twenty times higher in developing countries than the developed ones.

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Acumen Research and Consulting (ARC) is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact based decisions on technology purchases and develop firm growth strategies to sustain market competition. Among the industries served include aerospace and defense, information and communication technology (ICT), semiconductor and electronics, healthcare and pharmaceuticals, chemicals, advanced materials, banking, finance services and insurance (BFSI), and others.

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