03 August 2020
Visiongain has launched a new pharma report Disposable Endoscopes Market Report 2020-2030: Prospects by Application (Bronchoscopy, Urologic endoscopy, Arthroscopy, GI endoscopy), End Use (Hospitals, Diagnostic Centers, Clinics), and Geography.
The global disposable endoscopes market is projected to grow at a lucrative CAGR of ~xx% and anticipated to surpass USD xx million by 2030.
The global disposable endoscopes market is anticipated to grow on account of the growing incidence of nosocomial infections due to the use of contaminated endoscopes. There have been minimal changes in the overall functionality & design of endoscopes over the past few decades. Most of the design changes have helped to reduce scope size, while recent developments offer easy scope rotation, easier cleaning, & more compatibility with sterilization. The greatest progress has been made in the form of image technology and the launch of disposable endoscopes.
The use of endoscopic devices has become a staple for surgeons and physicians in the treatment of serious infections and diseases. The traditional endoscopic equipment appears to be bulky and for prolonged periods of time causes pain to the patients. Capsule endoscopy has opened up new possibilities of endoscopy with its innovative lightweight, a capsule-sized device that the patient can ingest. The capsule is fitted with a tiny camera that with minimum invasiveness can capture high-precision photographs of the small intestine. The technology allows for better tract navigation and results in detecting bleeding, cancerous growth in the intestine, or even ulcers. The capsule endoscopy systems manufacturers have made tremendous progress in terms of groundbreaking hardware and software innovations. Capsule endoscopy is anticipated to replace the diagnostic standard endoscopy over the next few years and take over most medical procedures that do not cause pain and do not require sedation.
Since newly licensed products enter the market, FDA approval for disposable endoscopes has gained momentum in recent years. The advancement in technology has led to an ergonomically advanced endoscope that offers both sterility & one-time use. Also, the disposable endoscopic devices market is set to offer lucrative progress & opportunities for the companies which offer innovative products.
The use of endoscopic devices has gained rapid popularity in multiple disease diagnoses & therapies. While some new products are still awaiting product approval from respective regulatory authorities, most of them have already had a positive impact on millions of lives, leading to better outcomes for patients. With leading market players investing in various R&D projects to develop more minimally invasive and innovative endoscopic equipment, the industry's competitive landscape is extremely promising. These strategies will ensure dynamic market competition and promise significant growth potential in different regions of the world.
In the year 2018, bronchoscopy dominated the global disposable endoscopes market owing to increased device availability coupled with the growing number of bronchoscopes related infections. North America dominated the global disposable endoscopes market owing to technological advancements, growing incidence of hospital-acquired infections, rising prevalence of nosocomial infections, growing healthcare expenditure, growing health awareness, and recent FDA approvals among others.
However, Asia Pacific is anticipated to grow with the highest CAGR owing to the growing geriatric population prone to infectious diseases, favorable reimbursement for endoscopy procedures, growing health care expenditure, and a growing number of infections caused by contaminated reusable endoscopes among other factors. Emerging economies like India, China, and Japan are anticipated to offer lucrative opportunities for revenue generation over the forecast period.
Some of the major players operating in this industry are Ambu A/S, Boston Scientific Corporation, Flexicare Medical Ltd, Hill Rom Holdings, Inc., NeoScope, Inc., OBP Medical Corporation, Parburch Medical, Prosurg Inc., SunMed, Timesco Healthcare Ltd., Welch Allyn among other prominent players.
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