Disposable Endoscopes Market Size, Share to Record 20.3% CAGR over 2020-2027
Disposable Endoscopes Market (By Application: Arthroscopy, Bronchoscopy, GI Endoscopy, Proctoscopy, Urologic Endoscopy, Others; By End-user: Diagnostic centers, Hospitals, Clinics) - Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2020 - 2027
The global Disposable Endoscope Market Size is projected to reach USD 4.40 billion by 2027, with a compound annual growth rate (CAGR) of 20.3% during the forecast timeline 2020 to 2027. Our reports on the Disposable Endoscope market provide a holistic analysis, industry size, share, market trends, growth drivers, challenges and forecast, top vendor analysis covering around 15+ vendors.
This research report evaluates Disposable Endoscope Market on a global and regional level. It offers thorough analysis of market status, growth and forecast of the global Disposable Endoscope Market for the period from 2016 to 2027. This research study offers historic data for years 2016 to 2019 along with a forecast from 2020 to 2027 based on value.
Disposable endoscopes signify single-use, flexible endoscopy solutions with amended safety and productivity. It also offers resolution to compound re-processing procedures that are related with conventional endoscopes. Disposable endoscope removes the necessity for sterilization or cleaning procedures related to the reuse of conventional endoscopes. Augmented occurrences of endoscope-associated infections among different patients have encouraged healthcare professionals across the globe to adopt disposable endoscopes instead of standard reusable.
Growth Factors
The growing demand for economic endoscopy procedures drives the requirement of disposable endoscopes as these are more cost-effective than reusable ones. Reprocessing procedures for reusable endoscopes are very expensive, which is further projected to propel the market growth. In addition, the rise in acceptance of disposable in the healthcare industry is a substantial reason for the growth of the disposable endoscopes market. Similarly, supporting government rules and norms for the healthcare industry for the adoption of disposable endoscopy is positively affecting the development of the market and is projected to drive growth over the forecast timeframe. Furthermore, the necessity of disposable endoscopes in diagnostic centers, clinics, and hospitals is increased due to the modern technological progressions in it. The letdown of current reprocessing processes and non-compliance with reprocessing guidelines is also expected to drive the acceptance and adoption of disposable endoscopes. On the other hand, a shortage of trained physicians & endoscopists and infections caused by few endoscopes hamper the growth of the disposable endoscope market.
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Report Highlights
- Bronchoscopy application segment is projected to hold the largest disposable endoscopes market share during the forecast period owing to technological advancements and rising bronchoscopes-related infections.
- Hospitals segment is expected to dominate the end-user segment due to higher adoption of disposable scopes to limit the incidence of HAIs
- The Asia Pacific region is anticipated to experience a lucrative CAGR over the forecast period. The growing number of hospitals, the rapid development of healthcare infrastructure, and higher appetite for innovative device acquisition are a few factors responsible for the regional growth
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Regional Snapshots
Considering the rise in awareness among people about healthcare-associated acquired infections due to use of contaminated endoscopes, the North America region is expected to dominate the global disposable endoscopes market over the forecast period. Furthermore, an increase in the incidence of hospital-acquired infections that drives the adoption of single-use endoscopes propels the market growth in the region. Moreover, due to technological advancements in the endoscopy segment and upsurge in demand for low-cost endoscopy processes, the Europe region is anticipated to hold a significant share in the global disposable endoscopes market followed by North America. The Asia Pacific region is anticipated to be the fastest-growing market for disposable endoscopes due to an upsurge in encouraging government guidelines for disposable endoscopes and upturn in health care expenditure. Additionally, the mounting number of cases of contamination instigated by infected reusable endoscopes supports the growth of the global disposable endoscopes market.
Key Players & Strategies
The disposable endoscopes market is moderately concentrated coupled with the presence of several multinational and regional players. Plentiful prominent players such as Boston Scientific, Covidien, Fujifilm Holdings Corporation, EndoChoice, Olympus, and Ambu A/S are uninterruptedly converging on refining research and development and expedite supplementary organic tactics to achieve competitive advantage in the global marketplace. In terms of market share, some of the major players are currently dominating the disposable endoscopes market. Furthermore, mergers & acquisitions, significant investments in R&D, and the development of innovative products or product modifications are among the significant strategies adopted by market players to gain a competitive edge.
For example, Olympus has confirmed a distribution agreement for disposable endoscopes with Ruhof in January 2018. This approach would surge the firm’s revenue in the near future. Moreover, the key market participant Ambu A/S is considerably increasing its product offerings. Hence Ambu A/S is poised to become one of the largest market participants during forthcoming years.
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Market Segmentation
By Application
- GI Endoscopy
- Bronchoscopy
- Proctoscopy
- Urologic Endoscopy
- Arthroscopy
- Others
By End-user
- Diagnostic centers
- Hospitals
- Clinics
By Regional Outlook
- North America
- Europe
- Asia Pacific
- Rest of the World
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