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Endoscope Reprocessing Market Report 2024-2033 - Size, Trends & Competitive Outlook
Endoscope Reprocessing Market Report
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According to The Business Research Company's, The endoscope reprocessing market size has grown rapidly in recent years. It will grow from $2.44 billion in 2023 to $2.72 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to stringent regulatory compliance, increased use of endoscopy, awareness in infection control measures, focus on patient safety concerns, increased aging population.
The endoscope reprocessing market size is expected to see rapid growth in the next few years. It will grow to $4.23 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%. The growth in the forecast period can be attributed to increasing artificial intelligence (ai) integration, global pandemics, increasing environmental sustainability, increasing telemedicine and remote procedures, shift towards value-based healthcare. Major trends in the forecast period include automation and robotics, data-driven compliance, single-use endoscopes, modular endoscope designs, infection control innovations.
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Market Drivers and Trends:
The rising incidence of cancer is expected to propel the growth of the endoscope reprocessing market going forward. Cancer is a condition that occurs when a few of the body's cells grow out of control and spread to other bodily regions. In the millions of cells that make up the human body, cancer can develop practically anywhere. Endoscope reprocessing is used for cleaning, disinfection, and sterilization. The growing population and exposure to the infection lead to chronic diseases. For example, in January 2021, according to the American Cancer Society, a US-based voluntary health group dedicated to eradicating cancer, 1.8 million new cancer cases were diagnosed in the year 2020, and 606,520 cancer deaths in the United States, also in 2021, as 1.9 million new cancer cases diagnosed and 608,570 cancer deaths in the country. Therefore, the rising incidence of cancer is driving the growth of the endoscope reprocessing market.
Technological advancement is the key trend gaining popularity in the endoscope reprocessing market. Major companies operating in the endoscope reprocessing sector are focused on developing new and advanced products to meet customer demand. For instance, in September 2021, Steelco spa, a US-based infection control solution provider company, launched EW 1 S MAXI, the most advanced automated endoscope repressor currently available on the market, setting new standards for endoscope reprocessing. The innovations have been incorporated into EW 1 S MAXI, which was created in collaboration with top decontamination experts and would improve the safety, effectiveness, and usability of endoscope reprocessing procedures. The most recent EW 1 S MAXI design does include a technologically advanced evolution that enables the Oral corticosteroids (OCS) to be automatically connected to the chamber without operator intervention. This is singular and remarkable progress to minimize operator time and action for a lean and error-free process.
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Major Key Players of the Market:
Custom Ultrasonics Inc., Advanced Sterilization Products Inc., Olympus Corporation, Wassenburg Medical BV, Steris Corporation, Getinge AB, ARC Healthcare Solutions, BES Healthcare Ltd., Medonica Company Ltd., Borer Chemie AG, Metrex Research LLC, Matachana Group SA, HOYA Corporation, Laboratories Anios, CONMED Corporation, Endo-Technik W. Griesat GmbH, Steelco S.p.A, Ecolab Inc., Belimed AG, Cantel Medical Corp., Richard Wolf GmbH, MEDALKAN, Micro-Scientific LLC, Tuttnauer USA Co. Ltd., Automated Teller Machine, Summit Imaging Inc., Shinva Medical Instrument Co. Ltd., Medical Devices Group Srl, Cantel (UK) Limited, SciCan Inc.
Endoscope Reprocessing Market 2024 Key Insights:
• The endoscope reprocessing market size is expected to see rapid growth in the next few years. It will grow to $4.23 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%.
• The Rising Incidence Of Cancer Expected To Fuel Endoscope Reprocessing Market Growth
• Technological Advancements Transforming The Endoscope Reprocessing Market
• North America was the largest region in the endoscope reprocessing market in 2023
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