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Disposable Endoscopes Market 2024 - By Share, Current Trends, Opportunities, Growth Size And Forecast To 2033
Disposable Endoscopes Market
According to The Business Research Company's, The disposable endoscopes market size has grown rapidly in recent years. It will grow from $1.62 billion in 2023 to $1.91 billion in 2024 at a compound annual growth rate (CAGR) of 18.1%. The growth in the historic period can be attributed to infection control, regulatory approvals, cost-efficiency, minimally invasive procedures.
The disposable endoscopes market size is expected to see rapid growth in the next few years. It will grow to $3.53 billion in 2028 at a compound annual growth rate (CAGR) of 16.6%. The growth in the forecast period can be attributed to global healthcare access, outpatient procedures, telemedicine and remote consultations, public health initiatives. Major trends in the forecast period include specialized disposable endoscopes, enhanced imaging and visualization, sustainability and eco-friendly materials, ai-assisted endoscopy.
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Market Drivers and Trends:
The increasing prevalence of cancer is expected to propel the growth of the disposable endoscopes market. Cancer is a complex group of diseases characterized by the uncontrolled growth and division of abnormal cells. Disposable endoscopes can provide high-quality imaging capabilities, allowing for more precise observations during endoscopic examinations. This medical equipment aids in detecting cancerous lesions or abnormalities within the gastrointestinal tract. For instance, according to the Cancer Facts and Figures 2023 report published by the American Cancer Society, a US-based professional organization, the number of new anal cancer cases reported in the United States is 9,760, compared to 9,440 cases in 2022. Additionally, the number of deaths attributed to anal cancer rose to 1,870, a rise from the 1,670 deaths recorded in 2022. Therefore, the increasing prevalence of cancer is driving the growth of the disposable endoscopes market.
Major companies operating in the disposable endoscopes market are focusing on the development of innovative products, such as single-use bronchoscope medical equipment, to sustain their position in the market. For instance, in July 2022, Ambu Inc., a Denmark-based medical technology company, launched its cutting-edge medical device, the Ambu aScope 5 Broncho. The Ambu aScope 5 Broncho is a single-use endoscope designed for one-time use on a single patient to minimize the risk of cross-contamination and ensure patient safety. The aScope 5 Broncho series includes enhanced imaging and design elements, such as a new high-resolution camera chip that produces superior image quality when combined with the full HD Ambu aBox 2 processing unit. The ease of use and accessibility of aScope 5 Broncho also helps healthcare systems overcome personnel shortages and workflow issues.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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Major Key Players of the Market:
Medtronic PLC, Fujifilm Holdings Corporation, Baxter International Inc., Boston Scientific Corporation, Olympus Corporation, Steris Corporation, Karl Storz SE & Co. KG, PENTAX Medical, Ambu A/S, Cooper Surgical Inc., Verathon Inc., Henke-Sass Wolf GmbH, Apollo Endosurgery Inc., Hill-Rom Holdings Inc., Reach Surgical Co. Ltd., EndoChoice Inc., Flexicare Medical Limited, CapsoVision Inc., Optim LLC, OBP Medical Corporation, Taewoong Medical Co. Ltd., Hoya Corporation, XION Medical GmbH, Avantis Medical Systems Inc., EndoMed Systems GmbH, Neoscope Inc., Otu Medical Inc., Richard Wolf GmbH, Vision-Sciences Inc.
Disposable Endoscopes Market 2024 Key Insights:
• The disposable endoscopes market is expected to grow to $3.53 billion in 2028 at a compound annual growth rate (CAGR) of 16.6%.
• Rising Cancer Prevalence Boosts Demand For Disposable Endoscopes
• Innovative Single-Use Bronchoscope Products Drive Growth In Disposable Endoscopes Market
• North America was the largest region in the disposable endoscope market in 2023.
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