The endoscope market in the past decade has seen a steady shift towards the adoption of fully single-use endoscopes at the expense of traditionally reusable, sterilisable ones.
This trend has already been well underway across various types of endoscopes, such as bronchoscopes, duodenoscopes, and cystoscopes.
Henceforth, colonoscopes are expected to also see this shift, given the recent announcement made by one of the leading single-use endoscope manufacturers, Ambu, regarding the launch of its first-generation single-use colonoscopes in the US.
For the already existing types of endoscopes, like single-use cystoscopes, newer generations with improved design and safety features being launched in global markets will also contribute toward greater product adoption, exemplified also by Ambu’s recent launch of its aScope 5 Cysto HD in Europe.
According to GlobalData’s latest Endoscopy Devices market models, the global market for single-use endoscopes is currently valued at $990m and is set to grow at a remarkable compound annual growth rate of 10%, resulting in a global market value exceeding $2.5bn by 2033.
This impressive growth rate is facilitated by the demand for healthcare systems to reduce time, costs, and cross-contamination potential when using more traditional, reusable endoscopes.
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
The rapid growth of this market is also attributed to factors related to the cost of purchasing the devices and maintaining them.
Even the cost of purchasing reusable endoscopes alone is often at least an order of magnitude higher than the cost of their single-use counterparts, let alone taking into account the direct and indirect costs of sterilising them.
Therefore, the market growth of single-use endoscopes is expected to be driven not only by well-funded healthcare systems but also by more budget-conscious medical facilities worldwide.
The competitive landscape of this market has also been steadily growing, with a healthy mix of well-established medical device companies like Ambu, Boston Scientific, and Olympus, as well as a slew of startup and medium-sized companies looking to make a breakthrough by capitalising on this market trend towards adopting single-use endoscopes.
GlobalData expects more medical device manufacturers, especially the well-established endoscopy players, to invest more heavily in R&D, partner with smaller companies to develop new products and acquire rapidly growing companies specialising in this field, all to further increase their competitiveness.
A prime example of such a partnership is between PENTAX Medical, one of the largest endoscopy companies, and Jiangsu Vedkang, in developing and selling single-use bronchoscopes to the European, Asian, and South American markets.
A more recent event illustrates the active venture financing within the market in China, where Shenzhen Xingchenhai Medical Technology had raised $14.7m in venture financing led by Legend Capital and later followed by Daotong Investment.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://www.medicaldevice-network.com/analyst-comment/endoscope-market-single-use-types/
