U.S. Endoscope Repair Market To Generate Revenue Worth $990.7 Million in 2030

The surging number of advancements in the U.S. medical device industry, the rising preference for minimally invasive procedures, and the increasing adoption of equipment insurance are the major growth factors for the U.S. endoscope repair market. Due to the aforementioned factors, the industry is projected to generate $990.7 million revenue in 2030, advancing at a CAGR of 10.4% during 2021–2030.

Due to the COVID-19 pandemic, endoscope equipment and repair service providers across the country faced a lot of challenges. This reflected a negative impact on the U.S. endoscope repair industry in 2020. However, the market is expected to rebound in the coming years, as the number of individuals testing for conditions, such as anemia, stomach bleeding, inflammation, diarrhea, gastroesophageal reflux disease, ulcers, and cancers, is increasing.

Flexible Category Held Largest Market Share

The market is categorized into flexible and rigid, on the basis of type. Of these, the flexible category dominated the market during the historical period, and it is expected to witness the same trend during the forecast period as well. Flexible endoscopes facilitate investigating symptoms with little invasiveness, diagnosing pathology, and providing targeted medicines. Also, these endoscopes have the unique ability to reach cavities and viscera that the naked eye cannot see.

Furthermore, the market is categorized into original equipment manufacturers (OEMs) and independent service organizations (ISOs), on the basis of service providers. Out of these, ISOs are expected to be the faster-growing category during the forecast period, owing to the low cost and greater flexibility of their maintenance and repair services for endoscopes of different OEMs.

Texas accounted for the largest revenue share, of around 13%, in the U.S. endoscope repair market in 2021. This was majorly due to the high proportion of older people in the state, combined with the high prevalence of cancer. Furthermore, almost 83% of the annual healthcare spending in the state is spent by government departments, such as 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), which leads to the easy affordability of equipment and repair services for end users.

Mergers and Acquisitions Are Most-Effective Strategic Measures Taken by Market Players

Players in the market for endoscope repair services have been involved in acquisitions and mergers to gain a significant position. For example, Agiliti Inc. acquired Mobile Instrument Service & Repair Inc., in February 2020, which specializes in servicing flexible and rigid endoscopes, general and laparoscopic handheld instruments, powered surgical equipment, video cameras and processing systems, rolling stock sterilizers, and case carts.

Some of the major players operating in the U.S. endoscope repair market include 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., and HMB Endoscopy Products.