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Endoscope Reprocessing Market - Industry Share Analysis, Key Players and Future Prospect

05-20-2022 08:48 AM CET | Health & Medicine

Press release from: MarketsandMarkets™

Endoscope Reprocessing Market

Endoscope Reprocessing Market

The Research Report on "Endoscope Reprocessing Market by Product (HLD and Test Strips, Detergents & Wipes, Automated Endoscope Reprocessors (AER), Endoscope Drying, Storage, & Transport Systems, Tracking Solutions), End User (Hospitals, ASCs & Clinics) (2022 - 2027), is projected to reach USD 3.8 billion by 2027 from USD 2.4 billion in 2022, at a CAGR of 9.7% from 2022 to 2027.

Increasing requirement for endoscopy to diagnose and treat target diseases;

Endoscopy procedures are minimally invasive surgeries done through one or more small incisions, using small tubes, tiny cameras, and surgical instruments. Less pain, a shorter or no hospital stay, and less complications related to pre- and post-surgery care are the major advantages of endoscopy procedures. Hence, these procedures are more cost-efficient, more effective, and safer than traditional open surgeries. Also, these procedures are covered by health insurance providers in rich countries such as the US, Canada, the UK, Germany, Australia, and a few countries in the Middle East, such as the UAE. These factors lead to a high preference for endoscopy procedures among patients and physicians. Every year, nearly 11.0 million colonoscopies, 6.1 million upper endoscopies, 313,000 flexible sigmoidoscopies, 178,400 upper endoscopic ultrasound examinations, and 169,500 endoscopic retrograde cholangiopancreatography procedures are performed in the US (Source: Gastroenterology 2019).

Endoscopy is increasingly being used for the diagnosis/treatment of several major disorders, such as cancer, orthopedic disorders, neurological disorders, and gastroesophageal reflux disorder (GERD). According to GLOBOCAN 2021, 457 960 new cancer cases were diagnosed in the UK in 2020, and this number is anticipated to reach 27.5 million by 2040 (an increase of 61.7%). As a result, there will be significant growth in the number of cancer surgeries; for instance, around 80% of cancer cases are likely to require surgery (Source: Lancet Commission on Global Surgery). Thus, the rising incidence of target diseases, including cancer, neurodegenerative, infectious, immune, metabolic, and cardiovascular diseases, is expected to accelerate the need for endoscopy procedures, which, in turn, would propel the endoscopy equipment market growth in the coming years

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Industry Segmentation In Detailed:

In 2021 High-level disinfectants (HLD) and test strips are expected to accounted the largest share of the endoscope reprocessing market, by product.

Based on product, the global endoscope reprocessing market is segmented into high-level disinfectants and test strips; detergents & wipes; endoscope tracking systems; endoscope drying, storage, and transport systems; automated endoscope reprocessors (AERs); and other products (brushes and flushing aids, leak testers, hookups, and sponges). In 2021, the high-level disinfectants and test strips segment holds the largest share of the global endoscope reprocessing market. The large share of this segment is due to outbreak of infectious diseases to drive high-level disinfectants demand. Test strips are used to effectively measure the minimum recommended concentration of high-level disinfectants and provide fast disinfectant reaction time and a user-friendly color comparison chart to detect residual carbohydrate, protein, and hemoglobin to monitor the success of endoscope cleaning procedures

In 2021 Hospitals are expected to accounted the largest share of the endoscope reprocessing market, by end user.

Based on end users, the global endoscope reprocessing market is segmented into hospitals, ambulatory surgery centers and clinics, and other end users (diagnostic centers, mobile endoscopy facilities, and office endoscopy centers). In 2021, the hospitals' segment has the largest share due to large patient volume in hospitals related to endoscopic procedures leads to increase demand for endoscope reprocessing products in hospitals.

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Leading Key Players and Analysis:

The major players operating in this market are Cantel Medical (US), Advanced Sterilization Products (ASP) (US), Olympus Corporation (Japan), Ecolab (US), STERIS (Ireland), Getinge AB (Sweden), Wassenburg Medical (Netherlands), CONMED Corporation (US), Belimed AG (Switzerland), Endo-Technik W. Griesat (Germany), Custom Ultrasonics (US), Steelco S.p.A. (Italy), BES Healthcare Ltd (UK), ARC Healthcare Solutions (Canada), Metrex Research, LLC. (Canada), Richard Wolf GmbH (Germany), MEDALKAN (Greece), Micro-Scientific, LLC (US), Borer Chemie AG (Switzerland), Tuttnauer (Netherlands), ATMS (Canada), Summit Imaging, Inc. (US), Medonica Co. LTD (South Korea), SHINVA MEDICAL INSTRUMENT CO. LTD (China), and Medical Devices Group Srl (Italy).

Geographical Analysis in Detailed:

The endoscope reprocessing market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. In 2021, North America has the largest share of the endoscope reprocessing market. The largest share of North America can be attributed to factors such as the rising number of cancer cases, favorable reimbursement scenarios, and Increasing requirement for endoscopy to diagnose and treat target diseases.

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