The global Disposable Endoscope Market has been growing significantly over the recent years. Disposable endoscopes are single-use medical devices that provide internal visual examination of the human body. They offer distinct advantages over traditional reusable endoscopes such as reduced risks of infection transmission between patients and easier sterilization. The disposable design eliminates the need for expensive and time-consuming reprocessing and disinfection procedures associated with reusable endoscopes. This helps improve productivity of physicians and reduces operation costs for healthcare facilities. Moreover, disposable endoscopes provide equal or better image quality compared to reusable variants.
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 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. Ambu A/S dominated the market in 2019 due to its strong brand recognition and wide product portfolio.
Rising incidence of hospital-acquired infections worldwide is expected to be a major growth driver for the market. Disposable endoscopes help eliminate the risk of disease transmission between patients by preventing contact with contaminated equipment. According to WHO, over 1.4 million people worldwide contract infections while receiving healthcare treatment annually.
Companies are expanding their manufacturing facilities globally especially in developing Asian and Latin American countries to cater to the growing demand. For instance, Ambu established new production sites in Denmark and Malaysia in 2021. This is expected to provide wider access to quality disposable endoscopes at affordable prices.
Market Key Trends
The growing preference for minimally invasive surgeries is one of the key trends in the Global Disposable Endoscope Market Size. Endoscopes play an important role in facilitating minimally invasive procedures and reducing healthcare costs, hospitalization time, and trauma to patients. As awareness regarding benefits of minimally invasive surgeries increases among consumers, demand for endoscopes including disposable variants is expected to rise substantially over the forecast period.
Porter’s Analysis
Threat of new entrants: Low investment costs and technological capabilities lower the threat for new players to enter the market.
Bargaining power of buyers: Due to availability of substitute treatments and diagnostic products, bargaining power of buyers is moderate.
Bargaining power of suppliers: Due to established supply chains and partnerships with OEMs, bargaining power of suppliers is low.
Threat of new substitutes: Development of advanced endoscopy and minimally invasive procedures poses threat of substitution.
Competitive rivalry: Large number of players focus on product innovation to gain competitive advantage in terms of features, quality and pricing.
Geographical Regions
North America region currently holds the major share of global Disposable Endoscope Market in terms of value owing to advanced healthcare infrastructure and high patient awareness. Factors such as rising geriatric population suffering from chronic diseases and government initiatives for healthcare modernization are boosting the market growth.
Asia Pacific region is expected to witness fastest growth during the forecast period driven by improving access to healthcare facilities, growing medical tourism industry and rising investments by market players looking to tap opportunities in emerging economies. Increasing disposable incomes, focus on preventive healthcare and evolving healthcare standards are contributing significantly to regional market expansion.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it