The global disposable endoscope market has been growing rapidly over the recent past primarily driven by the increased demand for cost-effective endoscopic procedures across various application areas such as bronchoscopy, laparoscopy, arthroscopy, ureteroscopy, and other GI endoscopy applications. Disposable endoscopes offer significant advantages over reusable endoscopes such as reducing infection risk, eliminating reprocessing costs, and enabling faster procedures. They provide high-quality imaging and flexible operation at a lower cost per usage as compared to traditional reusable endoscopes.
The Global disposable endoscope market is estimated to be valued at US$ 938.1 MN in 2024 and is expected to exhibit a CAGR of 18% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the global disposable endoscope market are Ambu A/S, Prosurg Inc., CooperSurgical, Inc., EndoVentions Medical, Inc., Boston Scientific Corporation, Parburch Medical, OBP Medical Corporation, Welch Allyn, Flexicare Medical Limited, UVision360, Jiyuan Medical, and NeoScope, Inc. Rising demand for minimally invasive surgeries across various medical specialties has opened up significant growth opportunities for manufacturers in terms of new product development and geographical expansion. Major players are focusing on expanding their presence in high growth markets such as Asia Pacific and Latin America through strategic partnerships and acquisitions.
The growing preference of healthcare facilities for single-use endoscopes to reduce hospital-acquired infections is a key factor driving the Global Disposable Endoscope Market Size. Disposable endoscopes help eliminate the need for expensive disinfection and sterilization processes between procedures which significantly reduces operating costs for healthcare providers. Additionally, their easy to use design and fast assembly process enables higher turnaround and improves clinical workflow efficiency.
Market drivers
Increased healthcare spending on minimally invasive surgeries, favourable regulatory guidelines, rising geriatric population susceptible to chronic diseases, and technological advancements enabling miniaturization of imaging and sensing components are some of the major drivers propelling the growth of the global disposable endoscope market. The COVID-19 pandemic has further accelerated market growth as it has increased focus on infection control and single-use medical devices across hospitals globally.
PEST Analysis
Political: Regulations regarding hygiene and healthcare standards for medical devices are getting stronger. This impacts production capabilities and costs.
Economic: The global economy remains volatile however rising healthcare spending especially in developing nations boosts demand for affordable medical equipment like disposable endoscopes.
Social: Ageing populations and greater preventive healthcare awareness drives the need for endoscopy procedures. Disposable variants address infection risks enhancing acceptance.
Technological: Advancements in miniaturization, camera and lighting technologies enable intricate surgeries using disposable variants. Connectivity options aid doctors.
The North American region accounts for the largest share of the global disposable endoscope market in terms of value. This can be attributed to factors such as the strong healthcare infrastructure, higher adoption rates of advanced medical technologies, and presence of major market players in the region.
The Asia Pacific region is expected to grow at the fastest pace during the forecast period. This is mainly due to rapidly improving healthcare infrastructure, increasing healthcare expenditure, and growing medical tourism industry in emerging countries of China, India and other Southeast Asian nations.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it