What are the Factors Boosting the Global Disposable Endoscopes Market- Fact.MR Study
The global market for disposable endoscopes market is anticipated to secure a market value of USD 9.26 Bn by 2032 while expanding at a CAGR of 16% during the forecast period from 2022 to 2032. The reduced scope of spreading infections with the usage of disposable endoscopes is likely to increase the demand for the single-use endoscope in the coming time.
Increased incidence of HAI due to usage of infected endoscopes is likely to be another salient cause driving the market. Moreover, the ongoing development with the rising investment by the renowned key disposable endoscope manufacturers is predicted to augment the industry significantly. In addition, the increasing clearances by the regulatory bodies are likely to provide a significant boost to the market in the coming time.
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For instance, Exalt D, the first fully disposable duodenoscope, a Boston Scientific product, received clearance from FDA. In another instance, EndoFresh, a Chinese medical device manufacturer announced that it gained 510 (K) clearance for its single-use endoscopy system usage in gastrointestinal procedures.
However, the analysis reveals that with the outbreak of COVID-19, the market suffered a loss of about 3% in 2019 to 2020. But, the demand for single-use devices has increased significantly due to the increasing complications developed post-COVID recovery, thereby driving the market in the forecast period.
The key players of the market opt for various strategies to enhance their global market reach. Acquisitions, partnerships, and collaborations are some of the methods adopted by the players.
Some of the recent developments among the key players are:
- In June 2020, a private corporation that manufactures single-use endoscopes, 3NT, disclosed FDA 510 (K) clearance for Colibri Micro ENT Scope. It is the world’s first single-use endoscope planned especially for Otology.
- In December 2021, Ambu Inc., the global leader in single-use endoscopes disclosed that it has been given a contract, which is to be effective from February 2022. The contract is in the field of Single-Use Visualization Devices with Vizient Inc., which is the largest healthcare performance Improvement Company in the U.S.
- In November 2020, Olympus Corporation disclosed a partnership with Ruhof Corporation and launched hybrid tubing and single-use procedure kits for endoscopes to lessen the contamination risk.
Disposable Endoscopes Market- Report Scope
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Key Segments Covered in the Disposable Endoscopes Industry Report
- Disposable Endoscopes for Hospitals
- Disposable Endoscopes for Diagnostics Centers
- Disposable Endoscopes for Clinics
- Disposable Endoscopes for Arthroscopy
- Disposable Endoscopes for Bronchoscopy
- Disposable Endoscopes for ENT Endoscopy
- Disposable Endoscopes for Urologic Endoscopy
- Disposable Endoscopes for GI Endoscopy
- Disposable Endoscopes for Other Applications
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What are the Factors Boosting the Global Disposable Endoscopes Market?
Increased Adoption of Developed Technology among the Disposable Endoscope Manufacturers to Boost the Market
The rapid development along with the increasing investment by the key disposable endoscope manufacturers is expected to play a significant role in driving the market in the forecast period. Players like Pentax, Olympus, and Fujifilm sell disposable endcap duodenoscopes and GI Scientific sells a shield that could be attached to a reusable duodenoscope to lessen contamination during the procedures.
In addition, the increasing clearances by the regulatory bodies are likely to increase the usage of disposable endoscopes in the coming time. For instance, Boston Scientific received FDA 510 (k) clearance in 2019 for the first fully disposable duodenoscope, known as Exalt D. Further, the Chinese medical device manufacturer, EndoFresh revealed that it gained 510(k) clearance for its single-use endoscopy system for use in gastrointestinal procedures.
Moreover, to reduce the number of deaths occurring due to usage of the infected endoscope, there has been a significant rise in the demand for the equipment. For instance, in 2019, FDA revealed its analysis of medical device reports over 5 ½- months from March of that year. The analysis disclosed 45 reports of patient infection and 159 reports of device contamination associated with insufficient reprocessing of duodenoscope used in medical procedures concerning bile duct and pancreas.
Key Takeaways from the Market Study
- Global disposable endoscopes market to be valued at over US$ 2 Bn by 2022
- By application, bronchoscopy to accumulate a revenue share worth over 28% in 2022
- North America to dominate the global market. The region to have secured about 41% of the global market share in 2021.
- Asia Pacific to be the fastest growing market, expected to flourish at a CAGR of 17%
“Reduced chances of spreading hospital acquired infections is likely to bode well for the demand for single-use endoscopes in forthcoming years,” – says an analyst at Fact. MR.
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