April 24, 2024
Disposable Endoscope Market

Global Disposable Endoscope Market is Estimated to Witness High Growth Owing to Increased Demand for Cost-Effective Endoscopy Procedures

The global Disposable Endoscope Market has been gaining significant importance over conventional reusable endoscopes owing to advantages such as single use, minimization of infection risks and elimination of reprocessing costs. Disposable endoscopes are portable and enable cost-effective diagnostic procedures without compromising on quality. The pre-sterilized and single-use nature of disposable endoscopes reduces the chances of contamination during endoscopy, thereby offering safer screening options for various gastrointestinal diseases. Growing prevalence of gastrointestinal cancers and rising caseload of endoscopic procedures worldwide are some key factors attributed to the rising demand for disposable endoscopes.

The Global Disposable Endoscope Market is estimated to be valued at US$ 938.1 MN in 2024 and is expected to exhibit a CAGR of 18.% over the forecast period 2024 to 2030.

Key Takeaways

Key players: Key players operating in the global Disposable Endoscope Market are Ambu A/S, Prosurg Inc., CooperSurgical, Inc., EndoVentions Medical, Inc., Boston Scientific Corporation, Parburch Medical, OBP Medical Corporation, Welch Allyn, Flexicare Medical Limited, UVision360, Jiyuan Medical, and NeoScope, Inc.

Key opportunities: Increasing investments by major players for development of advanced single-use endoscopes and rising awareness about advantages of disposable models over conventional reusable endoscopes are expected to create lucrative opportunities for market players over the forecast period.

Global expansion: Major players are focusing on expanding their geographical footprint in high growth regions such as Asia Pacific and Latin America. Growing healthcare infrastructure and increasing healthcare spend on early disease diagnosis in emerging economies will favor the adoption of cost-effective disposable endoscopes.

Market drivers: The key driver for the Global Disposable Endoscope Market Size is the increased demand for cost-effective endoscopy procedures. Disposable endoscopes eliminate reprocessing costs and reduce the risk of infection related to reuse of endoscopes. This significantly cuts down the overall cost of endoscopy especially in developing markets with limited healthcare budgets.

PEST Analysis
Political: The increase in healthcare spending by governments to improve healthcare infrastructure positively impacts the market. Safety regulations on medical devices ensure the quality and effectiveness of disposable endoscopes.

Economic: Rising per capita disposable income and increasing healthcare expenditures drive the demand for disposable endoscopes. The lower total cost of ownership compared to reusable endoscopes favor market growth.

Social: Growing prevalence of diseases requiring endoscopy procedures and the rising demand for minimally invasive surgeries augment the market. The risk of infections and cross-contamination with reusable endoscopes boost the adoption of disposable variants.

Technological: Advancements in materials and manufacturing technologies enable the development of cost-effective and high-quality disposable endoscopes. Miniaturization of components allows the production of narrow diameter endoscopes for minimal invasiveness.

Geographical regions where market in terms of value is concentrated:
North America accounts for the largest market share currently owing to factors such as advanced healthcare infrastructure, rising healthcare spending, and growing disease prevalence. Favorable reimbursement policies and awareness regarding minimally invasive procedures also contribute to market growth in the region.

The Asia Pacific region is projected to witness the fastest growth over the forecast period due to improving access to healthcare facilities, increasing medical tourism, rising income levels and expanding medical device industries in countries like China and India.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it