Dublin, Dec. 06, 2024 (GLOBE NEWSWIRE) -- The "Disposable Endoscope Market: Analysis By Application, By End User, By Region Size & Forecast up to 2029" report has been added to ResearchAndMarkets.com's offering.
The global disposable endoscope market was valued at US$1.89 billion in 2023 and is expected to reach US$4.95 billion by 2029. The market is expected to grow at a CAGR of approximately 17% during the forecasted period of 2024-2029.
The growing incidences of hospital-acquired infections (HAI) due to the usage of infected endoscopes is expected to be the key factor driving the global disposable endoscope market during the forecast period. Furthermore, increased investments, finances, and grants by governments and other organizations to enhance healthcare infrastructure and endoscopic research fields have generated attractive potential prospects for the market.
Market Segmentation Analysis:
- By Application: The GI endoscopy segment acquired majority of share in the market in 2023, as the incidence of these disorders increases, the need for diagnostic procedures like endoscopy also rises. Whereas, urologic endoscopy segment has the fastest CAGR, due to increasing number of ureteroscopy procedures owing to high disease burden. Furthermore, availability of robust product portfolio of technologically advanced ureteroscopes has created a lucrative growth potential for disposable endoscope market.
- By End User: The Hospitals segment acquired majority of share in the market in 2023 due to factors such as rising awareness, higher cleaning costs, and increasing reprocessing failures are resulting in the adoption of disposable endoscopes in hospitals. Whereas, diagnostic centers segment has the fastest CAGR because of increase in incidence of cancers, and rise in awareness regarding diagnosis of diseases at early stage. Rise in healthcare expenditure also boost the growth of diagnostic centers segment in disposable endoscopes market share.
- By Region: North America disposable endoscope market enjoyed the highest market share in 2023, due to strong presence of key players and availability of approved disposable endoscopes with higher adoption of disposable endoscopes.
Minimally invasive procedures have become increasingly popular due to reduced patient recovery times and lower risks compared to traditional surgeries. Because of the enormous number of market participants and the varied strategic efforts made by them, the US is the largest market in North America, as the majority of players first sought FDA clearance to launch their product in the nation.
Asia Pacific is anticipated to witness lucrative CAGR throughout the forecast period and is robust growth is accounted to the high burden of target diseases, and larger population pool is likely to provide traction to region's expansion. Furthermore, the greater transition from reusable to disposable endoscopes in region and an increase in epidemiological factors hold the high promise for region's growth in the future.
Global Disposable Endoscope Market Dynamics:
Growth Drivers: Chronic diseases, such as gastrointestinal disorders, respiratory diseases, cardiovascular diseases, and certain types of cancer, often require regular monitoring and diagnostic procedures. Endoscopy is a common diagnostic technique used to visualize and examine the interior of organs and body cavities. In chronic disease cases, patients might need frequent endoscopic examinations. Therefore, augmenting the demand for disposable endoscopes globally. Further, the market is expected to increase due to upsurge in healthcare expenditure, aging population, rising preference of single use endoscopes over traditional endoscopes, rise in hospital-acquired infections (HAI), increasing adoption of minimally invasive procedures, etc.
Challenges: The market's expansion is projected to be hampered by shortage of trained doctors. Developing countries often face a shortage of skilled physicians and endoscopists that perform endoscopic procedures. These procedures require expertise and experience to ensure accurate diagnosis and safe execution. The lack of skilled personnel limits the adoption and utilization of disposable endoscopes in these regions. The other challenges that disposable endoscope market faces include high cost, etc.
Trends: One of the most distinct and pervasive trends observed in the global disposable endoscope market is surging investments by governments and other organizations. Governments around the globe are taking initiatives to improve healthcare services and lessen chronic illness burdens. These initiatives have propelled market expansion and raised the demand for disposable endoscopes.
Market players are investing in the development of safer and cost-effective medical devices including disposable arthroscopes, disposable bronchoscopes, and disposable gastroscopes. More trends in the market are believed to augment the growth of disposable endoscope market during the forecasted period include, technological advancements, sustainability, expansion of endoscopic applications across medical specialties, etc.
Competitive Landscape and Recent Developments:
Key players of global disposable endoscope market include:
- Boston Scientific
- AMBU
- Baxter International
- Olympus
- Flexicare
- Richard Wolf
- CooperSurgical
- Verathon
- Coloplast
- Parburch Medical Developments
- OTU Medical
Key Topics Covered:
1. Executive Summary
2. Introduction
2.1 Disposable Endoscope: An Overview
2.1.1 Benefits of Disposable Endoscope
2.2 Disposable Endoscope Segmentation: An Overview
2.2.1 Disposable Endoscope Segmentation
3. Global Market Analysis
3.1 Global Disposable Endoscope Market Analysis
3.2 Global Disposable Endoscope Market Application Analysis
3.3 Global Disposable Endoscope Market End User Analysis
4. Regional Market Analysis
4.1 North America Disposable Endoscope Market Analysis
4.2 Europe Disposable Endoscope Market Analysis
4.3 Asia Pacific Disposable Endoscope Market Analysis
4.4 Rest of the World Disposable Endoscope Market Analysis
5. Impact of COVID-19
6. Market Dynamics
6.1 Growth Drivers
6.1.1 Rising Incidence of Acute Chronic Diseases
6.1.2 Upsurge in Healthcare Expenditure
6.1.3 Aging Population
6.1.4 Rise In Hospital-acquired Infections (HAI)
6.1.5 Increasing Adoption of Minimally Invasive Procedures
6.1.6 Rising Preference of Single Use Endoscopes over Traditional Endoscopes
6.2 Challenges
6.2.1 Shortage of Trained Doctors
6.2.2 High Cost
6.3 Market Trends
6.3.1 Technological Advancements
6.3.2 Surging Investments by Governments and Other Organizations
6.3.3 Sustainability
6.3.4 Expansion of Endoscopic Applications Across Medical Specialties
7. Competitive Landscape
7.1 Global Disposable Endoscope Market Players: A Financial Comparison
8. Company Profiles
- Boston Scientific
- AMBU
- Baxter International
- Olympus
- Flexicare
- Richard Wolf
- CooperSurgical
- Verathon
- Coloplast
- Parburch Medical Developments
- OTU Medical
For more information about this report visit https://www.researchandmarkets.com/r/114xs5
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