U.S. Endoscope Repair Market Report: By Type (Flexible, Rigid), Service Provider (ISOs, OEMs) – Size, Share Analysis and Growth Forecast to 2030

Market Overview

The U.S. endoscope repair market stood at $405.6 million in 2021, which is expected to reach $990.7 million by 2030, progressing at a CAGR of 10.4% during 2021–2030. The increasing prevalence of malignant gastrointestinal (GI), colorectal, and respiratory diseases; the presence of established players; the improving healthcare services, and the rising number of hospitals are some of the major factors contributing to the growth of the market.

Furthermore, the expanding aging population will increase the number of diagnostic and disease preventive treatments, leading to the rising usage of endoscopes. This will eventually result in overworked and worn-out endoscopes, which, in, turn, will drive the endoscope repair industry in the U.S.

During the COVID-19, the demand for repair services witnessed a negative impact till the second quarter of 2020. Moreover, due to the non-operational OPDs and diagnostic imaging centers, the use of endoscopes decreased during the lockdown period. But, after the lockdown was lifted, the demand for endoscope repair services started increasing, thereby driving the market growth.

Rising Adoption of Equipment Insurance Is a Key Trend

The high maintenance cost of medical devices is leading to the surging need for their insurance. There are several companies in the country that provide medical device insurance to protect end users from heavy losses in case of equipment damage. Some of the insurance providers in the country are CAN Financial Corporation, Cailor Fleming Insurance, ProTek Insurance, Medical Equipment Repair Associates, Anco Insurance, American International Group Inc., and DESCO. Thus, the rising adoption of equipment insurance by end users is a notable trend in the market.

Flexible Category Held Larger Market Share

The flexible category held a larger revenue share, of around 70%, in the U.S. endoscope repair market in 2021. Flexible endoscopes are made up of moveable tubes that are simple to control. These are employed in small operations since they are lightweight and can be connected to elements at the tip that might scratch or scrape the tissues being inspected. Furthermore, flexible endoscopes are more comfortable for patients, offer endoscopists a better vision, and allow access to more of the colon.

Independent Service Organizations (ISOs) Category To Grow at a Higher Rate

The ISOs category is expected to witness faster growth, advancing at a CAGR of more than 10%, during 2021–2030. This will mainly be due to the benefits provided by ISOs, such as low cost and greater flexibility in servicing and repairing the endoscope equipment of different OEMs. Moreover, the increasing adoption of comprehensive servicing contracts with ISOs, in order to reduce the complexities and additional expenses associated with the separate services provided under agreements with different OEMs further propelling the market.

Whereas, OEMs accounted for the largest revenue share in 2021. This is attributed to the provision of timely, reliable, and better services offered by them, as compared to ISOs. In addition, OEM parts can be used for the replacement of the original, as they are similar in functionality. Also, maintenance contracts can be obtained from OEMs, with options for the type of coverage and length of the contract.

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Enormous Growth Potential in Texas Market

Texas led the U.S. endoscope repair market in 2021. Moreover, the state market is expected to witness the highest CAGR during 2021–2030. This will majorly be because of the high geriatric population in the state, combined with the high prevalence of cancer. Furthermore, the Texas Department of Aging and Disability Services (DADS), Employees Retirement System (ERS), Texas Department of State Health Services (DSHS), and Teacher Retirement System (TRS) account for around 83% of the healthcare spending in the state annually, which makes cares affordable for the masses. Therefore, the surging healthcare spending in the state is driving the demand for endoscopes, which, in turn, is boosting the market growth in Texas.

Colorectal and Gastrointestinal Diseases Fuel the Market Growth

Endoscopy operations for identification and treatment have increased, due to the growing frequency of colorectal and gastrointestinal diseases. The incidence of benign and GI disorders, as well as colorectal problems, is increasing in elderly adults on a global level. Other disorders, such as pancreatic and biliary diseases with gallstones, are more common among elderly people. Endoscopes are thus preferred by doctors and patients for the diagnosis of cancer and tumors because of their safety and efficacy. This increases the demand for endoscopes and fuels the expansion of the market.

To Increase Market Share, Companies Have Been Involved in Mergers and Acquisitions

In the U.S. endoscope repair market, several players have been involved in mergers and acquisitions, in order to stay ahead of their competitors. For instance:

• In March 2021, Agiliti Inc. acquired Northfield Medical Inc.
• In February 2020, Agiliti Inc. acquired Mobile Instrument Service & Repair Inc.

Key Players in the Market Are:

• Stryker Corporation
• STERIS Instrument Management Services Inc.
• Agiliti Inc.
• J2S Medical
• Total Scope Inc.
• Endoscopy Repair Specialist Inc.
• Associated Endoscopy Inc.
• Medical Optics
• Endoscopy Support Services Inc.
• HMB Endoscopy Products

Market Size Breakdown by Segment

The report offers comprehensive market segmentation analysis along with market estimation for the period 2015–2030.

Based on Type

• Flexible
  • Upper gastrointestinal endoscopes
  • Colonoscopes
  • Bronchoscopes
  • Sigmoidoscopes
  • Laryngoscopes
  • Duodenoscopes
  • Nasopharyngoscopes
  • Rhinoscopes
• Rigid
  • Laparoscopes
  • Ureteroscopes
  • Gynecology endoscopes
  • Arthroscopes
  • Cystoscopes
  • Neuroendoscopes

Based on Service Provider

• Independent Service Organizations (ISOs)
• Original Equipment Manufacturers (OEMs)

Geographical Analysis

• Texas
• California
• Florida
• Illinois
• Pennsylvania
• Ohio
• New York
• Michigan
• Georgia
• Kansas