U.S. Endoscope Repair Market Report 2021: Increasing Adoption of Comprehensive Contracts & Rising Adoption of Equipment Insurance - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "U.S. Endoscope Repair Market Research Report: By Endoscope Type, Service Provider - Industry Revenue Estimation and Demand Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
U.S. endoscope repair market size is projected to rise to $603.6 million in 2030 from $248.6 million in 2020, at a 9.3% CAGR between 2020 and 2030.
The medical device industry of the U.S. is one of the most advanced in the world, with numerous new variants of all kinds of diagnostic and therapeutic devices launched almost every year.
This is will also be because endoscopes are one of the most-widely used instruments in medical diagnosis and treatment, as they offer clear pictures of the internal anatomy and have no risk of radiation overexposure. Being strongly regulated by the Food and Drug Administration (FDA), they need to be kept in the optimum working condition, which is essentially driving the U.S. endoscope repair market advance.
During the COVID-19 pandemic, most hospital departments and diagnostic centers in the country were shut, except for COVID patients. This led to a drastic drop in the usage of endoscopes and the rate of operational wear and tear. Moreover, the lockdowns in the country hampered the face-to-face interactions of pharmaceutical and medical device company representatives and those of the U.S. endoscope repair market players with the medical fraternity, which resulted in a lower provision of medical device repair services.
In the coming years, the fastest growth in the U.S. endoscope repair market, under segmentation by endoscope type, is likely to be seen in the esophagoscope category. This type of endoscope is widely used for diagnosing gastroesophageal reflux disease (GERD), abnormal throat, and many other diseases of the GI tract. As a result, these devices witness significant wear and tear, which creates a regular requirement for repairs and maintenance.
Texas is the largest and fastest-growing state in the U.S. endoscope repair market, as medical devices and treatments are easily affordable here. This is because state government bodies, including the Texas Department of State Health Services (DSHS), Texas Department of Aging and Disability Services (DADS), Teacher Retirement System (TRS), and Employees Retirement System (ERS), account for almost 83% of the spending on healthcare here.
Key Findings of U.S. Endoscope Repair Market Report
- Esophagoscopes are the most-frequently serviced endoscope type in the country
- End users rapidly shifting toward ISOs for endoscope repair and maintenance
- Texas to continue to generate highest market revenue
- Comprehensive service contracts becoming widely popular
- End users increasingly adopting medical device insurance
- Partnerships and acquisitions key growth strategies among OEMs and ISOs
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Voice of Industry Experts/KOLs
Chapter 5. Market Indicators
5.1 Rising Healthcare Spending
5.2 Increasing Geriatric Population
5.3 Prevalence of Obesity
Chapter 6. Definition of Market Segments
6.1 By Endoscope Type
6.2 By Service Provider
Chapter 7. Industry Outlook
7.1 Market Dynamics
188.8.131.52 Increasing adoption of comprehensive contracts
184.108.40.206 Rising adoption of equipment insurance
220.127.116.11 Advancements in medical device industry
18.104.22.168 Shift toward minimally invasive procedures
7.1.3 Impact Analysis of Drivers on Market Forecast
22.214.171.124 High maintenance costs
7.1.5 Impact Analysis of Restraints on Market Forecast
7.2 Impact of COVID-19
7.3 Porter's Five Forces Analysis
Chapter 8. Policy and Regulatory Landscape
Chapter 9. U.S. Market Size and Forecast
9.2 Market Revenue, by Endoscope Type (2015-2030)
9.3 Market Revenue, by Service Provider (2015-2030)
9.4 Market Revenue, by State (2015-2030)
Chapter 10. Competitive Landscape
10.1 List of Market Players
10.2 Market Share Analysis of Key Players
10.3 Recent Strategic Developments of Key Players
Chapter 11. Company Profiles
- Olympus Corporation
- Stryker Corporation
- Agiliti Inc.
- J2S Medical
- FUJIFILM Holdings Corporation
- Pentax Medical Company
- Total Scope Inc.
- Endoscopy Repair Specialist Inc.
- Associated Endoscopy Inc.
- Medical Optics
- Endoscopy Support Services Inc.
- HMB Endoscopy Products
For more information about this report visit https://www.researchandmarkets.com/r/szdzxh
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900