Disposable Endoscopes Market to Touch Us$ 10.4 Bn by 2030
The global disposable endoscopes market size is projected to surpass around US$ 10.4 billion by 2030 and is anticipated to grow at a CAGR of 20.3% from 2022 to 2030.
An endoscopy is a non-surgical treatment that involves inserting thin, long tube into human body to observe an interior organ or tissue in great detail. The flexible endoscopy solutions with better safety and productivity are available with disposable endoscopes. Disposable endoscopes are a viable alternative to the time-consuming reprocessing procedures associated with traditional endoscopes. Disposable endoscopes minimize the requirement for cleaning and sterilizing processes that are involved with the traditional endoscope usage. Due to the increased instances of endoscope-associated infections among patients, healthcare practitioners all over the world are promoting the use of disposable endoscopes over reusable endoscopes.
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Endoscopes that may be reused require a substantial initial cost. After each use, it must be reprocessed and mended on a regular basis. The disposable endoscopes save money and time by lowering costs related to cleaning, repairing, and maintenance. As disposable endoscopes are less expensive than reusable endoscopes, the global disposable endoscopes market is expected to grow at a rapid pace.
The market for disposable endoscopes is being driven by rapid technological advancements and investments by endoscope manufacturers in the development of new products. to expand the use of disposable endoscopes, the major market players in the disposable endoscopes market are employing a variety of techniques, including new product development.
Report Highlights
Based on the application, the bronchoscopy segment dominated the global disposable endoscopes market in 2020 with highest market share. The segment is driven by the presence of a significant number of bronchoscopes and the rising prevalence of associated illnesses.
Based on the end use, the hospitals segment dominated the global disposable endoscopes market in 2020 with highest market share. This is due to the availability of hospitals in both the established and emerging countries, as well as attractive reimbursement regulations.Furthermore, the widespread use of endoscopes in hospitals is propelling the segment growth.
Regional Snapshot
Asia-Pacific is the largest segment for disposable endoscopes market in terms of region. The region’s disposable endoscopes market is likely to be driven by growing healthcare facilities and the availability of less stringent regulatory frameworks. Furthermore, the growth in chronic illnesses and increased knowledge of the benefits of minimally invasive treatments over open surgeries are likely to give growth prospects in this region.
North America region is the fastest growing region in the disposable endoscopes market. This is due to the presence of well-developed infrastructure, widespread acceptance of new and innovative technologies, and increased awareness of minimally invasive surgeries. Furthermore, the disposable endoscopes market expansion is supported by an increase in the prevalence gastrointestinal and cancer illnesses as well as a growing geriatric population.
Market Dynamics
Drivers
Technological advancements
Combining and merging different imaging and visualization methods such as computed tomography and magnetic resonance imaging with endoscopic images or connecting and integrating medical devices in the operating theatre, as well as combining endoscopic visualization with instruments, lasers, and other devices and technologies, will drive further developments in this area. As a result, technological advancements is fueling the growth of the disposable endoscopes market during the forecast period.
Restraints
High cost of disposable endoscopes
The disposable endoscopes price is high as compared to reusable endoscope. The cost of surgery is also high and it is highly linked to the overall procedure volume and the occurrence of chronic disorders such as cancer and diabetes. As a result, the high cost is hindering the growth of the disposable endoscopes market during the forecast period.
Opportunities
Rising prevalence of chronic diseases
Globally, chronic disorders are on the rise. An ageing population and social economic changes are contributing to a continuous rise in these prevalent and expensive long term health issues. People are becoming increasingly sedentary as the middle class expands, and as urbanization accelerates. Obesity rates and occurrences of diseases like diabetes are rising as a result of this. As population growth is expected to be greatest in developing countries, emerging markets will be the worst affected. Chronic diseases have increased pressure on healthcare systems, which has become a serious concern. Thus, the rising prevalence of chronic diseases is creating lucrative opportunities for the growth of the disposable endoscopes market during the forecast period.
Challenges
Lack of awareness in the market
The healthcare providers, surgeons, and doctors are not aware about the disposable endoscope. The mostly used endoscopes in the market are reusable and flexible endoscopes. As a result, the lack of awareness is a major challenge for the growth of the disposable endoscopes market during the forecast period.
Market Segmentation
By Application
GI Endoscopy
Bronchoscopy
Proctoscopy
Urologic Endoscopy
Arthroscopy
Others
By Product
Endoscope
Visualization System
Endoscopic Ultrasound
Insufflator
By End-user
Diagnostic centers
Hospitals
Clinics
By Regional Outlook
North America
Europe
Asia Pacific
MEA
Latin America
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