New York, USA, July 17, 2023 (GLOBE NEWSWIRE) -- Disposable Endoscope Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Disposable Endoscope Market Information By Application, End User, And Region - Forecast till 2032", the market is projected to grow from USD 2.2 Billion in 2023 to USD 8.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 18.20% during the forecast period (2023 - 2032).
Market Synopsis
When doing an arthroscopy, for example, disposable endoscopes are inserted through natural apertures, cavities in the body, or incisions. For the diagnosis, avoidance, and treatment of problems with visceral organs, a minimally invasive medical procedure known as an endoscope is employed. The global market is being driven by the growing use of minimally invasive surgeries since they have a high patient acceptability rate, little pain, are more affordable, and have fewer possibilities of problems. Additionally, the expanding use of endoscopic methods to identify GI problems in combination with the rising burden of digestive disorders such as functional dyspepsia and IBS is also anticipated to drive market expansion. Disposable endoscopes are outfitted with cameras to assist medical practitioners in evaluating interior organs of interest. Inadequate sanitation, disinfection, and drying methods are an issue with endoscopes as they lead to the spread of pathogens. As a result, the use of disposable endoscopes and minimally invasive procedures has expanded significantly.
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These factors support the growth of the disposable endoscope market. An increase also influences the market's rising demand for disposable endoscopes in clinical research studies, including increased R&D spending and a substantial rise in capital gains in developed countries. Developing wireless, lightweight, single-use endoscopes with improved lighting and imaging features also assists the market's growth. Developing wireless, lightweight, single-use endoscopes with improved illuminating and imaging features also assists the market's growth. In addition, market participants are spending money on creating cheaper, safer medical devices such as disposable gastroscopes, bronchoscopes, and arthroscopes. Additionally, numerous product launches and approvals are accelerating market adoption.
Report Scope:
| Report Attribute | Details |
| Market Size in 2032 | USD 8.6 Billion |
| CAGR | 18.20% |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Historical Data | 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Application and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing demand for single use endoscopes is driving the market growth |
| Growing use of minimally invasive procedures |
Disposable Endoscope Market Competitive Landscape:
- Cooper Surgical, Inc.
- Hill Rom Holdings
- hoya corporation
- Karl Storz endoscopy
- Boston Scientific Corporation
- FlexicareMedical Limited
- NeoScope, Inc.
- Otu Medical Inc.
- OLYMPUS
- Ambu AS
Disposable Endoscope Market Trends:
Market Drivers:
One of the main factors propelling the global market is the increasing demand for single-use endoscopes to reduce the risk of infection connected to the device. Since there are more likely to be early cancer diagnoses and more disposable endoscopes will likely be used, the market growth for stomach cancer is anticipated to be boosted. Due to its general safety record and comparable technical performance, disposable gastroscopes substitute reusable gastroscopes for regular examination. The use of disposable gastroendoscopes will speed up market expansion because research programs like this raise awareness of disposable gastroscopes’ benefits.
The market is also expanding due to increased patient desire for minimally invasive procedures, a supportive regulatory environment, and encouraging reimbursement policies in industrialized nations. Additionally, the market has benefited from lucrative growth possibilities because of the rising investments, money, and grants made by governments and other organizations to advance endoscopic research and healthcare infrastructure.
Restraints
Over the past ten years, disposable endoscopes have become more popular in healthcare. Healthcare facilities that already use conventional endoscopes may find the technology an additional expense, which could hurt the industry over the next ten years.
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COVID 19 Analysis
The COVID-19 epidemic is expected to negatively affect the market for disposable endoscopes because many medical schools and hospitals worldwide have undergone renovations to enhance the number of beds available for COVID-19 patients. The pandemic is delaying but not stopping the use of disposable endoscopes in the research, creation, and clinical trials of medicines against illnesses. Endoscope-assisted procedures were postponed in favor of in-home care. Due to the rapidly increasing COVID-19 cases, no non-essential surgical procedures were carried out; only elective urgent procedures were. The COVID-19 pandemic consequently had a swift adverse effect on market expansion. However, the market is predicted to expand in the next years due to the global revival of diagnostic and therapeutic operations.
Disposable Endoscope Market Segmentation
By end user, the market includes hospitals and diagnostic centers.
By application, the market includes bronchoscopy, urologic endoscopy, ENT endoscopy, and arthroscopy.
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Regional Insights
Due to the rising number of infections in hospitals brought on by contaminated endoscopes, which is driving up demand for disposable endoscopes, North America is anticipated to have a significant market share in the worldwide disposable endoscope market throughout the forecast period. Because nosocomial infections are becoming more common in this area, disposable endoscope use is growing. Additionally, a significant portion of the region's expansion is fueled by the rise in new products receiving FDA approval and being introduced to the market, technological advancements, rising healthcare costs, and well-established healthcare infrastructure. Due to an increase in senior populations that are more susceptible to disease and a growth in awareness regarding minimally invasive operations helped by disposable endoscopes, Asia-Pacific is anticipated to see the greatest CAGR throughout the projection period. Plastic microparticles have recently been discovered in human excrement and blood, so this could one day threaten the environment. Single-use plastics are now prohibited in Europe, which recently tackled this issue. Therefore, strong regulations limiting the use of disposable endoscopes due to plastic bans in both high- and low-income nations may hinder the market.
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