The endoscope reprocessing industry is expected to keep expanding after seeing substantial growth in recent years. The market is going through a transformative stage that is being driven by a number of major developments, including rising healthcare awareness and technological advancements like the integration of connection features, data tracking, and remote monitoring capabilities.
The frequency of endoscopic operations, the prevalence of healthcare-associated infections (HAIs), the emphasis on patient safety, the demand for minimally invasive surgery, and the expanding senior population are all contributing to the growth of the endoscope reprocessing industry.
The market is seeing a rise in demand from North American areas as a result of the technological developments in these domains. Important companies like Cantel Medical, Ecolab Inc., Steris plc., and others are participating in the industry.
In recent years, the endoscope reprocessing device market has witnessed a series of product launches and approvals contributing to its growth.
DataM Intelligence's in-depth market analysis reveals the major market drivers, challenges, and trends. Our market intelligence report evaluates the market size, growth, and share, providing crucial insights for businesses to make informed decisions and capitalize on the existing and upcoming opportunities in the endoscope reprocessing device market.
Market Size and Growth Analysis:
The global endoscope reprocessing market reached US$ 2.3 billion in 2022 and is expected to reach US$ 4.5 billion by 2030, growing with a CAGR of 9.2% during the forecast period 2023-2030. The trend, such as the increasing demand for automated reprocessing systems, is expected to dominate the global endoscope reprocessing market.
Endoscope Reprocessing Market Drivers:
The Endoscope Reprocessing Market is Growing Due to an Increase in Endoscopic Procedures:
The increasing number of endoscopic procedures around the globe is a major market driver. Several medical specialties employ endoscopy frequently, including gastroenterology, pulmonology, urology, gynecology, and otolaryngology. It is used for diagnostic and therapeutic purposes, enabling noninvasive visualization and treatment of internal organs by medical professionals.
According to the American Society of Anesthesiologists, approximately 6.1 million upper endoscopies are performed annually in the United States.
An increase in Strategic Developments will Drive the Demand for Endoscope Reprocessing Market:
The endoscope reprocessing market is anticipated to expand more quickly as a result of strategic advancements. This contains business transactions involving pharmaceutical companies, diagnostic centers, and biotechnology companies, such as mergers, acquisitions, partnerships, collaborations, and product launches.
Through these initiatives, the endoscope reprocessing industry hopes to strengthen its position in the market, gain a competitive edge, and promote innovation.
Endoscope Reprocessing Devices Market Restraints:
High Cost:
Endoscope reprocessing systems may be prohibitively expensive for certain healthcare institutions, especially those in developing nations, due to the upfront cost and continuous maintenance expenditures. Additional examples of variable costs include site setup and installation, AER upkeep, LCG cost each cycle, and possible implications on endoscope repair.
Therefore, the market is anticipated to see restrictions throughout the projected period due to the high cost of endoscope reprocessing systems.
Market Key Players:
The global endoscope reprocessing market is fairly fragmented, with many large and medium-sized players accounting for most of the market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, and developing, testing, and introducing more effective endoscope reprocessing solutions.
Some major players included in the global endoscope reprocessing market report are:
- Cantel Medical
- Ecolab Inc
- STERIS plc.
- Olympus Corporation
- Getinge AB
- Belimed AG
- CONMED Corporation
- Laboratoires Anios
- SciCan Inc.
- HOYA Corporation
Cantel Medical:
Cantel is a global company dedicated to delivering innovative infection-prevention products and services for patients, caregivers, and other healthcare providers. Products and solutions improve outcomes and help save lives. Through an expansive portfolio of endoscopy, water purification and filtration, and healthcare disposables, Cantel provides high-quality infection prevention solutions and unsurpassed service. Through products and solutions, they touch millions of patients each year around the world.
To Know More Insights Download Sample
