DUBLIN, Dec. 18, 2023 /PRNewswire/ — The “Global Disposable Endoscope Market: Analysis By Application (GI Endoscopy, Bronchoscopy, Urologic Endoscopy, Arthroscopy, ENT Endoscopy and Others), By End User (Hospitals, Diagnostic Centers and Others), By Region Size & Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.
In 2022, the global disposable endoscope market was valued at US$1.58 billion, and is probable to reach US$4.11 billion by 2028. The global disposable endoscope market value is projected to grow at a CAGR of 17.31%, during the forecast period of 2023-2028.
The growing incidences of hospital-acquired infections (HAI) due to the usage of infected endoscopes is expected to be the key factor driving the global disposable endoscope market during the forecast period. Furthermore, increased investments, finances, and grants by governments and other organizations to enhance healthcare infrastructure and endoscopic research fields have generated attractive potential prospects for the market.
Global Disposable Endoscope Market Dynamics:
Growth Drivers: Chronic diseases, such as gastrointestinal disorders, respiratory diseases, cardiovascular diseases, and certain types of cancer, often require regular monitoring and diagnostic procedures. Endoscopy is a common diagnostic technique used to visualize and examine the interior of organs and body cavities. In chronic disease cases, patients might need frequent endoscopic examinations.
Therefore, augmenting the demand for disposable endoscopes globally. Further, the market is expected to increase due to upsurge in healthcare expenditure, aging population, rising preference of single use endoscopes over traditional endoscopes, rise in hospital-acquired infections (HAI), increasing adoption of minimally invasive procedures, etc.
Challenges: The market’s expansion is projected to be hampered by shortage of trained doctors. Developing countries often face a shortage of skilled physicians and endoscopists that perform endoscopic procedures. These procedures require expertise and experience to ensure accurate diagnosis and safe execution. The lack of skilled personnel limits the adoption and utilization of disposable endoscopes in these regions. The other challenges that disposable endoscope market faces include high cost, etc.
Trends: One of the most distinct and pervasive trends observed in the global disposable endoscope market is surging investments by governments and other organizations. Governments around the globe are taking initiatives to improve healthcare services and lessen chronic illness burdens. These initiatives have propelled market expansion and raised the demand for disposable endoscopes.
Market players are investing in the development of safer and cost-effective medical devices including disposable arthroscopes, disposable bronchoscopes, and disposable gastroscopes. More trends in the market are believed to augment the growth of disposable endoscope market during the forecasted period include, technological advancements, sustainability, etc.
Impact Analysis of COVID-19 and Way Forward:
The pandemic of COVID-19 had a negative impact on the disposable endoscope business. Several hospitals and healthcare facilities globally experienced a significant decline in patient visits for diagnosis and treatment of gastrointestinal disorders, other chronic conditions and minimally invasive procedures.
Moreover, healthcare facilities faced financial strain due to increased expenditures on personal protective equipment (PPE), testing kits, and other essential supplies related to COVID-19. This financial pressure often resulted in budget cuts for non-essential medical equipment, including disposable endoscopes. Additionally, the pandemic disrupted global supply chains, affecting the production and distribution of medical devices, including disposable endoscopes.
Competitive Landscape and Recent Developments: Global disposable endoscope market is moderately fragmented.
The key players are constantly investing in strategic initiatives, such as new product launches, introducing their products to emerging markets and more, to maintain a competitive edge in this market. For instance, in September 2023, Ambu announced the launch of its new aScope 4 RhinoLaryngo Video System, a single-use flexible videoscope for the examination of the nose, throat, and larynx.
By Application:
- GI Endoscopy: This segment holds the majority of the market share in 2022. The increasing incidence of gastrointestinal disorders is driving the demand for diagnostic procedures like endoscopy.
- Bronchoscopy: While not specified as the largest segment, bronchoscopy is an essential application area for disposable endoscopes, particularly for examining the respiratory tract.
- Urologic Endoscopy: This segment is experiencing the fastest compound annual growth rate (CAGR). The increasing number of ureteroscopy procedures, driven by a high disease burden, contributes to the growth of this segment.
- Arthroscopy: Arthroscopy involves the examination of joints, and disposable endoscopes are likely being used for this purpose. However, it’s not specified whether it’s a major segment.
- ENT Endoscopy: Endoscopic procedures related to the ear, nose, and throat are included in this segment.
- Others: This category likely encompasses various specialized endoscopic applications not covered explicitly in the report.
By End User:
- Hospitals: Hospitals are the major end users of disposable endoscopes in 2022. Factors such as rising awareness, higher cleaning costs, and increasing reprocessing failures are driving the adoption of disposable endoscopes in hospitals.
- Diagnostic Centers: The diagnostic centers segment is experiencing the fastest CAGR. This growth is attributed to an increase in the incidence of diseases, especially cancers, and a rise in awareness regarding early disease diagnosis. Increased healthcare expenditure also contributes to the growth of this segment.
- Other End Users: This category may include outpatient clinics, ambulatory surgical centers, and other healthcare facilities.
By Region:
- North America: North America dominates the global disposable endoscope market in 2022. This region benefits from a strong presence of key players and a high adoption rate of disposable endoscopes. Minimally invasive procedures are gaining popularity due to reduced patient recovery times and lower risks compared to traditional surgeries. The US, in particular, is the largest market in North America, with numerous market participants and strategic efforts focused on gaining FDA clearance.
- Europe: Europe is another significant market for disposable endoscopes, although it’s not specified as the leading region in the provided information.
- Asia Pacific: Asia Pacific is expected to witness a lucrative CAGR throughout the forecast period. The region’s growth is attributed to a high burden of target diseases, a larger population pool, and a transition from reusable to disposable endoscopes. Additionally, factors such as epidemiological trends contribute to the growth of the disposable endoscope market in this region.
- Rest of the World: This category may include regions not covered explicitly, and it’s essential to consider specific countries or markets within this segment for a more detailed analysis.
Market Dynamics
Growth Drivers
- Rising Incidence of Acute Chronic Diseases
- Upsurge in Healthcare Expenditure
- Aging Population
- Rise In Hospital-acquired Infections (HAI)
- Increasing Adoption of Minimally Invasive Procedures
- Rising Preference of Single Use Endoscopes over Traditional Endoscopes
Market Trends
- Technological Advancements
- Surging Investments by Governments and Other Organizations
- Sustainability
Challenges
- Shortage of Trained Doctors
- High Cost
Key players of global disposable endoscope market are:
- Boston Scientific Corporation
- Ambu A/S
- Baxter International Inc. (Hill-Rom Holdings, Inc.)
- Olympus Corporation
- Flexicare (Group) Limited
- Richard Wolf GmbH
- CooperSurgical, Inc. (OBP Medical Corp)
- Verathon Inc.
- Coloplast
- Parburch Medical Developments Ltd
- OTU Medical Inc
For more information about this report visit https://www.researchandmarkets.com/r/9ltbiz
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