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Disposable Endoscope Market Value - US$5.4 Bn By 2028 Prediction By Acumen Research and Consulting

/EIN News/ -- Acumen Research and Consulting recently published report titled “Disposable Endoscope Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2021-2028”, forecasts that the market for disposable endoscope is expected to grow at a CAGR of around 18.7%.

NEW YORK, Oct. 13, 2021 (GLOBE NEWSWIRE) -- Disposable endoscope market is projected to grow at a considerable CAGR of 18.7% during the analysis period of 2021 to 2028

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The idea of disposable endoscope manufacturing was an emerging trend from the past. As this momentum is not new, it has gained tremendous pace due to rising cases of endoscope induced infections, after utilization of reusable endoscopes. So how to solve this type of problem related to endoscope? The endoscope and endoscopic device manufacturers have spent considerable time and money to develop disposable endoscope and endoscopic tips. For example, in August 2019, the US Food and Drug Administration (FDA) suggested healthcare facilities and manufacturers to begin transitioning to design duodenoscope with disposable components to reduce risk of patient infection. Apart from that, Elsevier Inc. report states that residual fluid and minor debris were detected in 42% of endoscope after reprocessing and drying. More than 17 million endoscopic procedures are performed in the US annually thus if all endoscopes become disposable, the economic and environmental costs would be exponentially maximize.

Report coverage

Market Disposable Endoscopes Market
Analysis Period 2015 - 2026
Base Year 2017
Forecast Data 2018 - 2026
Segments Covered By Application, By End-user, and By Geography
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled Hill Rom Holdings, Ambu A/S, Inc., OBP Medical Corporation, Boston Scientific Corporation, and Flexicare Medical Ltd.
Report Coverage Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

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The COVID-19 pandemic had a big burden on endoscopy units worldwide. A March 2020 multicenter survey from northern Italy reveals that nearly 97.6% experienced a reduction in endoscopic activities and 50% performed endoscopic procedures on COVID-19 patients. Additionally, the 2019 findings concluded that high postprocessing contamination rates are ranging from 4% to 6% due to failure to perform critical steps of manual cleaning. Such inherent limitations of current endoscope reprocessing practices, pinpointed by post marketing studies resulted in significant advances in both disinfection protocols and infection barrier methods that triggered the development of fully disposable endoscopes.

In 2020, North America recorded projected revenue of US$587.6 Mn and will grow at an accelerating rate during the analysis period

North America disposable endoscope will maintain a strong lead in the market by recording highest revenue share during the forecast period of 2021 to 2028. Strong FDA support for the development of disposable endoscope tips or parts have gained huge prominence ultimately supporting the regional growth. For records, in August 2019, the US Food and Drug Administration (FDA) recommended that duodenoscope manufacturers and healthcare facilities to transfer towards different types of duodenoscopes that pose less risk for the patient safety. As it imposes cleaning devices (reprocessing) and persistent high level of contamination, the agency has suggested to move away from using duodenoscopes with fixed endcaps to those with disposable components involving disposable endcaps or to fully disposable duodenoscopes on availability. Disposable designs simplify or eliminate the need for reprocessing that reduces patient duodenoscope contamination when compared with reusable or fixed endcaps.

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Asia Pacific is set to record fastest growing CAGR for disposable endoscope market during the analysis period of 2021 to 2028

Rising geriatric population, accelerating prevalence of chronic diseases, and improvement in healthcare facilities are the factors responsible for the growth of regional market for disposable endoscope. For instance, the nationwide survey on the current status of gastro-intestinal endoscopy surgery (GIES) in mainland China showed that the number of GIES in China was high (14 million per year); the projected number of GIES procedures could reach 51 million by 2030 due to high growth rate of ageing. The overall number of gastrointestinal endoscopies in China is high and is predicted to increase. Such factors have impactful influence on the growth of Asia Pacific regional market for disposable endoscopy market.

Market Segmentation

Disposable endoscope market is segmented based on application and end-user. By application, the market is segregated as bronchoscopy, urologic endoscopy, arthroscopy, GI endoscopy, proctoscopy, and others. By end-user, the market is segregated as hospitals, diagnostic centers, and others.

Based on application, bronchoscopy segment dominates the market for disposable endoscopes by recording projected revenue of US$4,500.4 Mn in 2020. The flexible fiberoptic bronchoscope with sterile-sheath endoscope systems has the ability to reduce the infections and time taken by the reusable endoscopes for disinfection between the procedures making it popular in the global market. High image quality, illumination and ease of insertion make this device more trustworthy for future use as compared to conventional flexible bronchoscopes.

Based on end-user, hospital segment records attributable share during the forecast period of 2021 to 2028. As hospital has greater rates of endoscopy procedures, endoscopy intervention, and higher utilization of endoscopic tips, it has gained significant attention in the global market. In 2016, hospitals recorded US$1,498.7 Mn revenue for disposable endoscope market owing to rising hospital acquired infections (HAIs). Additionally, high cases of reprocessing failures results in increased adoption of disposable endoscope among hospitals. This further gives a strong push for the segmental growth ultimately contributing for the overall market growth.

Competitive Landscape

The prominent players of the global disposable endoscope market include Hill Rom Holdings, Ambu A/S, Inc., OBP Medical Corporation, Boston Scientific Corporation, Flexicare Medical Ltd., KARL STORZ SE & Co. KG, AirStrip, The Cooper Companies, Inc., Timesco Healthcare Ltd, and among others

The market for disposable endoscope market is highly competitive and fragmented due to the presence of large number of multinational as well as local players. The leading players are constantly looking to increase their share in the market.

  • In August 2021, Boston Scientific Corporation, announced receiving approval from the US Food and Drug Administration (FDA) for the new product namely, "EXALT" Model B Single-Use Bronchoscope. The newly approved product is designed for use in bedside procedures within the intensive care unit (ICU) and operating room (OR).
  • In May 2021, The Cooper Companies, Inc., announced acquiring of OBP Medical Corporation, a US based medical device company involved in development and market differentiated products involving single-use vaginal speculums with integrated LED illuminations.

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