Press release
Endoscope Reprocessing Market Size Share Growth and Forecast 2023-2030
Endoscope Reprocessing Market-DataM Intelligence
In 2022, the Global Endoscope Reprocessing Market achieved a significant milestone, reaching US$ 2.3 billion. With a projected CAGR of 9.2% during the forecast period of 2023-2030, the market is expected to escalate to US$ 4.5 billion by 2030. This growth is primarily attributed to the surging demand for automated reprocessing systems, marking a transformative phase in the industry.
The market's upward trajectory is fueled by key trends, including the escalating awareness of healthcare, technological advancements such as integrated connectivity features, data tracking, and remote monitoring capabilities. Factors such as the rising prevalence of healthcare-associated infections (HAI's), an upsurge in endoscopic procedures, emphasis on patient safety, preference for minimally invasive surgeries, and an expanding geriatric population are further propelling the market's size. Notably, North America stands out as a key region, witnessing heightened demand, with major competitors like Cantel Medical, Ecolab Inc, Steris plc., actively participating in the market.
Market Scope
CAGR: 9.2%
Size Available for Years: 2021-2030
Forecast Period: 2023-2030
Data Availability: Value (US$)
Segments Covered: Product, End User
Regions Covered: North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Fastest Growing Region: Asia-Pacific
Largest Region: North America
Report Insights Covered
The comprehensive report provides insights into Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Infection Type Launches, Growth Strategies, Revenue Analysis, Porter's Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Other Key Insights.
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Market Dynamics
Growing Endoscopic Procedures Drive the Growth of the Endoscope Reprocessing Market
The surging number of endoscopic procedures globally is a pivotal market driver. Utilized across various medical specialties, endoscopy facilitates diagnostic and therapeutic interventions without invasive procedures. Notably, the U.S. alone witnesses approximately 6.1 million upper endoscopies annually, as reported by the American Society of Anesthesiologists. The gold-standard screening test, colonoscopy, is conducted on approximately 15 million people in the U.S. annually, according to Harvard Medical School's 2022 report. Each of these procedures necessitates a sterile endoscope, driving the demand for effective reprocessing solutions.
Increase in Strategic Developments will Drive the Demand for Endoscope Reprocessing Market
Strategic innovations, including mergers, acquisitions, collaborations, partnerships, product launches, and research collaborations, are poised to accelerate growth in the endoscope reprocessing market. Noteworthy is the launch of advanced next-generation sequencing (NGS) panels by Vela Diagnostics in March 2022, contributing to efficient RNA and DNA detection in endoscope reprocessings. Such strategic developments are expected to drive the demand for endoscope reprocessing globally.
High Cost of Endoscope Reprocessing System will Hamper the Growth of the Market
Despite the promising outlook, the market faces challenges due to the high initial and ongoing maintenance costs associated with endoscope reprocessing systems. The average cost of an automatic endoscope reprocessor ranges from $14,000 to $56,000. Variable expenses, including site setup, installation, AER maintenance, LCG cost per cycle, and potential effects on endoscope repair, contribute to the high overall cost. This factor is expected to restrain market growth over the forecast period.
Segment Analysis
Automated Endoscope Reprocessors (AERs) Segment Leading the Market
The Automated Endoscope Reprocessors (AERs) segment is anticipated to dominate the global endoscope reprocessing market, accounting for approximately 31.6% of the market share. AERs play a vital role in reprocessing endoscopes and accessories, offering enhanced quality, dependability, efficiency, standardization, and reduced human errors. Notably, the introduction of an enhanced version of the ED-Flow automated endoscope reprocessor by Getinge in June 2022, featuring improved digital connectivity and data management, is expected to contribute to increased market penetration.
To know more Insights: https://www.datamintelligence.com/research-report/endoscope-reprocessing-market
Geographical Penetration
North America Spearheading Market Growth
North America accounted for approximately 39.3% of the market share in 2022, with a prominent role in the rising cases of gastrointestinal (GI) endoscopic procedures. The region's dominance is attributed to increasing technological advancements, supportive regulatory guidelines, and rising healthcare expenditures. Notably, PENTAX Medical America's launch of PlasmaTYPHOONdry in December 2022, a novel rapid endoscope drying solution, is set to further boost market growth in the region.
Competitive Landscape
Major Global Players Shaping the Industry
Key players in the global endoscope reprocessing market include Cantel Medical, Ecolab Inc, STERIS plc., Olympus Corporation, Getinge AB, Belimed AG, CONMED Corporation, Laboratoires Anios, SciCan Inc., HOYA Corporation, among others.
By Product
High-Level Disinfectants and Test Strips
Detergents and Wipes
Automated Endoscope Reprocessors
Endoscope Drying, Storage, and Transport Systems
Others
By End User
Hospitals
Ambulatory Surgery Centers
Other
By Region
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Spain, Italy, Rest of Europe)
South America (Brazil, Argentina, Rest of South America)
Asia-Pacific (China, India, Japan, Australia, Rest of Asia-Pacific)
Middle East and Africa
Related Reports:
Endoscopes Market: https://www.datamintelligence.com/research-report/endoscopes-market
Disposable Endoscopes Market: https://www.datamintelligence.com/research-report/disposable-endoscopes-market
Endoscopic Vessel Harvesting Devices Market: https://www.datamintelligence.com/research-report/endoscopic-vessel-harvesting-devices-market
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DataM Intelligence 4Market Research is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
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