Disposable Endoscope Market High Demand with a Stunning CAGR of 20.3% By 2030

(Market Stats News via Comtex)

The global disposable endoscopes market size is likely to reach USD 4.40 billion by the end of 2027 and is expected to grow at a compound annual growth rate (CAGR) of 20.3% during the forecast period 2020 to 2027. Continuous growth of disposable endoscopes market is primarily driven by growing hospital investments in endoscopy facilities, rising demand for endoscopy owing to the rising prevalence of target diseases, and technological advancements in endoscopy.

The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, market share analysis, potential challenges, profitability graph and the overall market environment.

Disposable endoscopes signify single-use, flexible endoscopy solutions with amended safety and productivity. It also offers resolution to compound re-processing procedures that are related with conventional endoscopes. Disposable endoscope removes the necessity for sterilization or cleaning procedures related to the reuse of conventional endoscopes. Augmented occurrences of endoscope-associated infections among different patients have encouraged healthcare professionals across the globe to adopt disposable endoscopes instead of standard reusable.

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Growth Factors

The growing demand for economic endoscopy procedures drives the requirement of disposable endoscopes as these are more cost-effective than reusable ones. Reprocessing procedures for reusable endoscopes are very expensive, which is further projected to propel the market growth. In addition, the rise in acceptance of disposable in the healthcare industry is a substantial reason for the growth of the disposable endoscopes market. Similarly, supporting government rules and norms for the healthcare industry for the adoption of disposable endoscopy is positively affecting the development of the market and is projected to drive growth over the forecast timeframe.

Furthermore, the necessity of disposable endoscopes in diagnostic centers, clinics, and hospitals is increased due to the modern technological progressions in it. The letdown of current reprocessing processes and non-compliance with reprocessing guidelines is also expected to drive the acceptance and adoption of disposable endoscopes. On the other hand, a shortage of trained physicians & endoscopists and infections caused by few endoscopes hamper the growth of the disposable endoscope market.

Report Highlights

  • Bronchoscopy application segment is projected to hold the largest disposable endoscopes market share during the forecast period owing to technological advancements and rising bronchoscopes-related infections.
  • Hospitals segment is expected to dominate the end-user segment due to higher adoption of disposable scopes to limit the incidence of HAIs
  • The Asia Pacific region is anticipated to experience a lucrative CAGR over the forecast period. The growing number of hospitals, the rapid development of healthcare infrastructure, and higher appetite for innovative device acquisition are a few factors responsible for the regional growth

Key Market Players and Strategies

The disposable endoscopes market is moderately concentrated coupled with the presence of several multinational and regional players. Plentiful prominent players such as Boston Scientific, Covidien, Fujifilm Holdings Corporation, EndoChoice, Olympus, and Ambu A/S are uninterruptedly converging on refining research and development and expedite supplementary organic tactics to achieve competitive advantage in the global marketplace. In terms of market share, some of the major players are currently dominating the disposable endoscopes market. Furthermore, mergers & acquisitions, significant investments in R&D, and the development of innovative products or product modifications are among the significant strategies adopted by market players to gain a competitive edge.

For example, Olympus has confirmed a distribution agreement for disposable endoscopes with Ruhof in January 2018. This approach would surge the firm's revenue in the near future. Moreover, the key market participant Ambu A/S is considerably increasing its product offerings. Hence Ambu A/S is poised to become one of the largest market participants during forthcoming years.

Market Segmentation

By Application

  • GI Endoscopy
  • Bronchoscopy
  • Proctoscopy
  • Urologic Endoscopy
  • Arthroscopy
  • Others

By End-user

  • Diagnostic centers
  • Hospitals
  • Clinics

Regional Segmentation

  • North America (United States, Canada)
  • Europe (Germany, France, UK, Italy, Russia and Rest of Europe)
  • Asia-Pacific (China, Japan, India, Southeast Asia, Korea and Rest of Asia Pacific)
  • Latin America (Brazil and Rest of Latin America)
  • The Middle East and Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)

Regional Snapshots

Considering the rise in awareness among people about healthcare-associated acquired infections due to use of contaminated endoscopes, the North America region is expected to dominate the global disposable endoscopes market over the forecast period. Furthermore, an increase in the incidence of hospital-acquired infections that drives the adoption of single-use endoscopes propels the market growth in the region. Moreover, due to technological advancements in the endoscopy segment and upsurge in demand for low-cost endoscopy processes, the Europe region is anticipated to hold a significant share in the global disposable endoscopes market followed by North America. The Asia Pacific region is anticipated to be the fastest-growing market for disposable endoscopes due to an upsurge in encouraging government guidelines for disposable endoscopes and upturn in health care expenditure. Additionally, the mounting number of cases of contamination instigated by infected reusable endoscopes supports the growth of the global disposable endoscopes market.

Why should you invest in this report?

If you are aiming to enter the global disposable endoscopes market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for disposable endoscopes are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2020-2027 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

Data points covered under disposable endoscopes market research study:

  • The historic and forecast market estimation from years 2016 to 2027
  • Market estimation and research analysis for the global market by distribution channel
  • Market estimation and research analysis for the global market by region
  • Research analysis on market dynamics including drivers, restraints, opportunities, trends, and market challenges.
  • Competitive scenery and business strategies by key players
  • SWOT Analysis
  • PORTER's five force research analysis
  • PEST Analysis
  • DR impact analysis
  • Heat map analysis
  • Investment feasibility analysis

Key Questions Answered by the Report:

  • What will be the size of the global disposable endoscopes market in 2027?
  • What is the expected CAGR for the disposable endoscopes market between 2020 and 2027?
  • Which are the top players active in this global market?
  • What are the key drivers of this global market?
  • How will the market situation change in the coming years?
  • Which region held the highest market share in this global market?
  • What are the common business tactics adopted by players?
  • What is the growth outlook of the global disposable endoscopes market?

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