Endoscope Reprocessing Market To Generate Revenue Worth $4,358.1 Million by 2030
- Published: July 2022
The global endoscope reprocessing market is expected to generate $4,358.1 million revenue by 2030, advancing at a CAGR of 9.8% during 2021–2030. This will be on account of the surging implementation of minimally invasive surgeries (MISs), which further driven the use of several endoscopes in surgical procedures, including laparoscopy, cystoscopy, arthroscopy, and bronchoscopy.
Healthcare settings, especially ambulatory surgical centers, are increasingly preferred for performing MISs because they allow patients to be discharged on the same day. There are currently over 5,500 Medicare-certified ambulatory surgical centers in the U.S. Moreover, when compared to hospitals, ambulatory surgical centers provide lower-cost surgeries with greater scheduling flexibility. Thus, these centers generate a high demand for endoscope reprocessing services.
Increasing Number of Collaborations and Partnerships Is a Key Trend in the Market
Companies are actively collaborating with each other for developing advanced solutions for the endoscope reprocessing market. For instance, Cantel Medical Corp. and Censis Technologies signed a long-term partnership, in December 2020, to combine the infection prevention endoscope reprocessing workflow portfolio (CANEXIS Integrated Workflow Solution) of Cantel Medical with the instrument tracking and surgical asset management solutions (CensiTrac) of Censis Technologies.
Automated Endoscope Reprocessors Are Expected to Lead the Market in Future
The demand for automated endoscope reprocessors (AERs) is expected to show the highest CAGR, of around 12%, in the forecast period. AERs are innovative devices used in healthcare settings to reprocess endoscopes and their accessories to decontaminate them. These AERs are Class II devices that have been cleared through the 510(k) premarket notification pathway. By exposing the outside surfaces and interior channels of reusable endoscopes to chemical solutions, AERs are designed to kill microorganisms.
In addition, the adoption of AERs is expected to rise in the coming years, owing to the increase in endoscopy procedures all over the world and the necessity to replace the manual cleaning process, thereby driving the endoscope reprocessing market growth. Additionally, the rising number of endoscopy procedures and the higher utilization of advanced automated machines in various developing nations are the other factors intensifying the demand for AERs.
Improvement in Healthcare Infrastructure Driving the APAC Market
The APAC market is expected to register the highest CAGR, over 10.0%, in the forecast period, due to the improvement in healthcare infrastructure and the surge in incidents of various chronic diseases. For instance, there were around 300,000 GI-related cancer deaths in China in 2021, which accounted for more than 13% of all cancer-related deaths in the nation.
Acquisitions and Partnerships Are the Most-Effective Strategic Measures
Companies operating in the market have been involved in acquisitions and partnerships to remain competitive. For instance, in January 2021, STERIS plc acquired Cantel Medical Corp.
The major players operating in the endoscope reprocessing market are Cantel Medical Corp., Advanced Sterilization Products Inc., Olympus Corporation, Ecolab Inc., STERIS, Getinge AB., Wassenburg Medical B.V., and CONMED Corporation.