Analysis of Disposable Endoscopes market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global disposable endoscopes market is anticipated to hold a value of US$ 2.1 Billion in 2022 and reach US$ 9.26 Billion by 2032. The projected market growth is 16% during the forecast period from 2022 to 2032. The usage of disposable endoscopes reduces the spread of infectious diseases.
Estimated Market Value in 2022
US$ 2.1 Billion
Estimated Market Value in 2032
US$ 9.26 Billion
Projected Market Growth from 2022 to 2032
Key Players of the Global Disposable Endoscopes Market
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, the outbreak of COVID-19 is anticipated to boost the demand significantly. The analysis reveals that the usage of single-use endoscopes is likely to witness magnificent growth in the coming time.
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The global disposable endoscopes market is anticipated to have secured US$ 1.7 Billion in 2021. According to Fact.MR- market research and competitive intelligence provider- disposable endoscopes sales expanded at around 12% value CAGR from 2015 to 2021. High demand for disposable products amid apprehensions regarding transmission of hospital acquired infections via reusable equipment has inclined sales significantly.
The market is predicted to procure a market value of US$ 9.26 Bn in 2032 while expanding at a CAGR of 16% during the forecast period. The elevation in the market size can be attributed to the increasing demand for medical equipment owing to the outbreak of COVID-19.
Further, the increasing adoption of single-use endoscopes among healthcare experts is expected to augment the market notably. For instance, in 2020, the Centers for Medicare & Medicaid Services issued a new device passcode for single-use endoscopes. Ambulatory surgical centers (ASCs) and hospitals use the code for treating patients in the U.S using disposable endoscopes.
Increased demand for Disposable Medical Diagnostic Equipment during COVID-19
The reduced surgical procedures due to the pandemic are likely to moderately impact the market. The evaluation at Fact. MR reveals that the global market witnessed reduced revenue of about 3% from 2019 to 2020.
However, the outbreak of COVID-19 has increased demand for single-use devices owing to the shortage of workforce due to increased infection risk associated with cleaning an endoscope. The growing complications post-COVID recovery and increasing demand for single-use technologically developed endoscopic equipment that will provide the least risk of infection are expected to provide a significant boost to the industry.
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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.
Adoption of Advanced Technologies by Disposable Endoscope Manufacturers to Boost the Market in North America
Analysis conducted at Fact. MR reveals that North America is projected to dominate the global market for disposable endoscopes market in the forecast period. The region is anticipated to garnerthe maximum market share of about 41% in 2022.
The dominance of North America can be attributed to the presence of advanced healthcare infrastructure, participation of established key players, and the increasing awareness about non-invasive surgeries. In addition, the increasing approvals by the regulatory bodies are projected to grow the industry significantly in the region. For instance, FDA gave clearance to UroViu to introduce its new equipment Uro-G, the new disposable option to the market. In another instance, FDA cleared two new single-use disposable endoscopes in May 2021.
Increasing Incidences of Chronic Diseases to Boost Demand for Advanced Medical Diagnostic Equipment in the Region
The market in Asia-Pacific is anticipated to be the fastest-growing market during the forecast period. The rapid development of the market can be attributed to the increasing chronic diseases and growing awareness about the benefits of non-invasive procedures.
Furthermore, presence of developing nations such as; India and China are expected to make a significant contribution in developing the market in the region. According to Fact.MR, the region is expected to accelerate at a CAGR of 17% across the 2022-2032 forecast period.
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Bronchoscopy secured the largest revenue share in the Global Single-Use Endoscopes Market
The analysis at Fact. MR reveals that the bronchoscopy segment secured the largest market by procuring more than 28% of the global market in 2022. The growth of the segment can be attributed to the increasing incidences of lung cancer. Further, the increasing approval of regulatory bodies is likely to augment the segment during the forecast period.
For instance, a new single-use bronchoscope designed by Boston Scientific received FDA clearance for its application in ICU. In addition, the growing demand for minimally invasive bronchoscope procedures is projected to provide a significant boost to the segment, thereby benefitting the global market.
Cost-Efficiency of Disposable Endoscopes ENT Services to Boost the Market
The ENT endoscopy application segment is anticipated to witness the fastest growth in the forecast period. The expansion of the segment can be attributed to the cost-efficiency associated with disposable endoscopes ENT services and the reduced scope of cross-contamination. Further, the increasing prevalence of ear, nose, and throat infections is expected to drive the industry in the forecast period.
The eminent players of the global disposable endoscope market are making significant investments to innovate their products and expand their global reach. Their focus is to increase the sales of their products through various strategies such as; collaboration, acquisition, and partnerships.
Some of the recent developments among the key players are:
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From 2022 to 2032, sales of disposable endoscopes are expected to incline at a CAGR of 16%
By 2032, disposable endoscopes are expected to reach a value of US$ 9.26 Billion
North America is anticipated to accumulate about 41% of global disposable endoscopes revenue in 2022
According to Fact.MR, disposable endoscopes sales are expected to surge at a 17% CAGR in the Asia Pacific
Bronchoscopy is likely to be the dominant application area for disposable endoscope, capturing 28% revenue through 2032
As of 2022, the disposable endoscopes industry is forecast to surpass US$ 2 Billion
The global disposable endoscopes market reached US$ 1.7 Billion by 2021
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