Single-use/Disposable Endoscopy Market Growth – at a CAGR of 21.1% During Forecast Period 2020-2028
Growing geriatric population worldwide and rising incidence of gastrointestinal disorders are among the key factors driving the global market revenue growth
According to Emergen Research, the global single-use/disposable endoscopy market size was USD 1.35 billion in 2020 and is expected to reach USD 6.29 billion in 2028 and register a revenue CAGR of 21.1% during the forecast period, 2021-2028.
Major factors providing impetus to the global single-use/disposable endoscopy market revenue growth are rise in global geriatric population, increasing incidence of gastrointestinal disorders, respiratory disorders, and urological diseases, technological advancements in endoscopic devices and procedures, and growing preference for single-use/disposable endoscopic devices. Growing concerns about the transmission of infection through reusable endoscopes, lower acquisition costs of disposable endoscopes, rising number of new product approvals by the U.S. FDA, and increasing awareness of the advantages of single-use endoscopes over the reusable ones are some of the other key factors contributing to the global market revenue growth.
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Disposable endoscopes are a more viable alternative to the reusable devices, and these single-use devices eliminate chances of transmission of exogenous infections from one patient to another. Key advantages associated with disposable endoscopic devices are patient-centric care, reduced probability of cross-contamination or infection, lower maintenance costs, no need for cleaning or sterilization, and no requirement of extensive skills for using these devices.
Growing demand for disposable endoscopes among surgeons and latest advances in disposable endoscopic devices, such as integration of miniature cameras with cutting-edge micro-endoscopic camera technology, wireless transmission, high-quality imaging, and robust single-use design, boost revenue growth of the global market. Market revenue growth is further driven by factors such as stringent regulatory norms for patient safety, growing rate of hospital-acquired infections (HAIs), rising preference for minimally invasive surgical procedures, and increasing R&D activities for advanced medical devices.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Endoscope Segment Accounted for Largest Revenue Share in 2020:
Endoscope segment dominated other segments in terms of revenue share in the global market in 2020. Rapid adoption of technologically advanced endoscopes, growing need for high-definition and high-quality images for better disease diagnosis and treatment, and increasing number of new product launches are major factors expected to contribute to revenue growth of this segment over the forecast period.
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GI Endoscopy Segment to Account for Fastest Revenue CAGR:
The GI endoscopy segment is expected to register the fastest revenue growth rate in the global market over the forecast period. Increasing geriatric population, rising cases of gastrointestinal disorders such as gastritis, gastroenteritis, peptic ulcer disease, celiac disease, and Crohn’s disease, increasing volumes of GI endoscopy procedures, and technological advancements in endoscopy devices are key factors expected to drive revenue growth of this segment going ahead.
North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America single-use/disposable endoscopy market accounted for the largest revenue share in the global market over the forecast period. Rising prevalence of gastrointestinal disorders and infectious diseases, growing need for minimally invasive diagnostic procedures, and increasing incidence of hospital-acquired infections are some key factors expected to drive market revenue growth going ahead. In addition, growing use of single-use endoscopy devices and presence of advanced healthcare facilities and key market players in the region, including Boston Scientific Corporation, Inc. and Cook Medical, are some other factors supporting the North America market revenue growth.
Major Companies in the Global Single-use/Disposable Endoscopy Market Include:
- Boston Scientific Corporation, Inc.
- KARL STORZ
- Ambu A/S
- Hill Rom Holdings
- OBP Medical Corporation
- Hoya Corporation
- Richard Wolf GmbH
- Cook Medical
- Flexicare Medical Ltd.
- Medtronic Plc
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For the purpose of this report, Emergen Research has segmented the global single-use/disposable endoscopy market based on product, application, end-use, and region:
Product Outlook (Revenue, USD Billion; 2018–2028)
- Visualization Systems
- Endoscopic Ultrasound
Application Outlook (Revenue, USD Billion; 2018–2028)
- Urologic Endoscopy
- GI Endoscopy
- ENT Endoscopy
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Healthcare Centers
Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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