The major factors for the growth of the endoscope reprocessing market include the rising cases of endoscopy-related infections, growing hospital investments in endoscopy instruments, and the rising prevalence of diseases that require endoscopy procedures.
Increased usage of endoscopic devices has been observed in disease diagnosis and treatments. The growing prevalence of diseases that can be detected by endoscopy has increased the demand for these devices.
As per the American Cancer Society’s estimates, the number of new colorectal cancer cases in the United States by the end of 2018 are expected to reach 97,220 , and 43,030 new cases of rectal cancer. This high incidence indicates the demand for screening by colonoscopic devices or sigmoidoscopic devices, which further drives the growth of the market.
Furthermore, rising demand for surgeries with faster recovery, fewer post-surgery infections, less pain, reduced scarring, better control on bleeding, and increased accuracy are anticipated to boost the demand for various endoscopy devices. Thus the rising number of endoscopy devices will create a huge demand for reliable endoscopy reprocessing products leading to the high growth of the market.
Key Market Trends
Automated Endoscope Reprocessors Segment is expected to register Rapid Growth Over the Forecast Period
- The Automated Endoscope Reprocessors are widely used in the health care setting to reprocess endoscopes, and accessories, in order to decontaminate them.
- These devices are designed to kill microorganisms in or on reusable endoscopes by exposing their outside surfaces and interior channels to chemical solutions.
- The Automated Endoscope Reprocessors are Class II devices and there is a huge demand for Automated Endoscope Reprocessors owing to the benefits associated with it.
- Furthermore, the US FDA is approving new Automated Endoscope Reprocessors. For instance, recently, on April 2018, Cantel Medical announced it has received 510 (k) clearance for its novel automated endoscope reprocessor.
- Thus, owing to the above-mentioned factors the market is expected to witness high growth over the forecast period.
North America is Expected to Hold Largest Market Share over the Forecast Period
- North America holds the majority of the share and in the North America region United States holds the major share. The United States is expected to be the largest endoscopy reprocessing market owing to the rising prevalence of diseases that require endoscopy procedures and the presence of better healthcare infrastructure.
- According to a survey conducted in the United States, by the National Centre for Health Statistics, approximately 3.5 million Laparoscopic procedures were performed in the United States in the year 2017. The rising endoscopy procedures are expected to increase the demand for reprocessing products.
- Furthermore, in the United States, there is a huge demand for minimally invasive surgeries which is expected to augment the growth of the market over the forecast period.
The market studied involves both the multinational and local companies owing to the large number of devices and consumables being used in the reprocessing process. Some of the market players are Advanced Sterilization Products (Johnson & Johnson Company), Cantel Medical, Custom Ultrasonics, Ecolab Inc, Endo-Technik W. Griesat, Getinge AB, Metrex Research, LLC., Olympus Corporation, STERIS plc., and Wassenburg Medical (A Member of Hoya)
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