PUBLISHER: Grand View Research | PRODUCT CODE: 1268895
PUBLISHER: Grand View Research | PRODUCT CODE: 1268895
The global disposable endoscopes market size is expected to reach USD 7.32 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 16.9% from 2023 to 2030. The significant rise in the incidence of peptic ulcers, urological, gastrointestinal, respiratory, and other disorders that require endoscopic procedures for diagnosis is the key factor driving the disposable endoscopes market. In addition, several technological advancements, increased adoption of disposable endoscopes and visualization systems in healthcare settings is another factor supporting global market.
Moreover, the reusable endoscopes have a risk of leakage and contamination over the time, which in turn, fuels the demand for disposable devices due to their low cross-contamination risk. In addition, disposable endoscopes are cost effective as compared to reusable products. For instance, according to Single Use Endoscopy, a procedure with reusable endoscope costs around USD 1400-1900, whereas procedures with disposable endoscopes cost around USD 400 to USD1700. Thus, the several benefits of single use endoscopy devices is likely to facilitate their uptake in the forecast period.
In addition, the rising demand for minimally invasive procedures, and cost-effective products have accelerated the demand for single use endoscopes. Also, the robust demand from several end users is pushing manufacturers to expand their production capabilities as well as supply chain network. For instance, in November 2022 Fujifilm Europe B.V. and Scivita Medical Technology collaborated to distribute Scivita's broncho endoscopes across major countries in Europe.
Furthermore, the rising burden of target conditions, coupled with increasing elderly population is another factor supporting global market. The reduction of overall surgical procedures during the pandemic has partially impacted the overall endoscope industry growth in 2020. Whereas reduced chances of infection transmission and contamination to the healthcare personnel conducting endoscopy procedures is expected to boost the adoption of single use endoscopy devices over the forecast years.