United States Endoscope Reprocessing Market Size Booming to Cross 3.5 Billion by 2029
United States endoscope reprocessing market is flourishing owing to growing preference for minimally invasive procedures, increasing focus on preventing the risk of various infections associated with contaminated endoscopes, and stringent government regulations to control these infections.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the United States endoscope reprocessing market size at USD 1.99 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects United States endoscope reprocessing market size to grow at a significant CAGR of 8.62% reaching a value of USD 3.53 billion by 2029. Major growth drivers for the United States endoscope reprocessing market include increasing incidences of endoscopy-related infections, growing hospital investments in endoscopy tools, and an increasing number of disorders requiring endoscopic operations. To diagnose and treat diseases, endoscopic equipment are being employed more frequently. The market growth is also being driven by the increased prevalence of respiratory illnesses, such as lung cancer and chronic obstructive pulmonary disease. However, dearth of skilled professionals is anticipated to restrain the growth of overall market during the period in analysis.
United States Endoscope Reprocessing Market – Overview
Endoscopy devices and accessories must be thoroughly cleaned, disinfected, and sterilized as part of the "reprocessing" process. The significant risk of infection associated with improper sterilization of endoscopes is driving the demand for reprocessing equipment. Endoscope reprocessing will grow due to increased demand for sterilized and disinfected medical devices in hospitals and clinics, as well as a focus on strict cleaning standards.
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Opportunity: Growing interest in processes
Demand for various endoscopic devices is expected to increase due to the desire for procedures to result in a quicker recovery, fewer post-surgery infections, less discomfort, less scarring, and more precision. Major industry players are attempting to expand their product lines by obtaining approval for new items. For instance, the US Food and Drug Administration (US FDA) authorized the ASP AEROFLEX Automatic Endoscope Reprocessor from Advanced Sterilization Products in April 2019. The industry is expected to grow at a fast rate as a result of the rising number of endoscopic reprocessing systems available in the market.
Challenge: Costly equipment for endoscopy and reprocessing
The high cost of endoscopy causes a decrease in the number of patient endoscopic operations. For instance, endoscopies can be costly without insurance. In the US, the average cost of a colonoscopy ranges from USD 1,250 to USD 4,800, whereas the average cost of an endoscopy is USD 2,750. Additionally, the equipment's price ranges from USD 114.07 to USD 280.71. The estimated average reported repair cost, whether as a result of a visual inspection failure, a leak test failure, or a failed cleaning verification test, was USD 5,833. Such high costs might make it more difficult to adopt reprocessing equipment.
United States Endoscope Reprocessing Market – By End User
The endoscope reprocessing market in the United States is divided into Hospitals, Ambulatory Surgical Centers (ASCS), Clinics, Diagnostic Centers, and other segments. The hospital segment holds the highest market share, due to an increase in the number of endoscopic procedures and in the number of hospitals across the United States, and the distribution of government funding and investments.
United States endoscope reprocessing market is fiercely competitive. Prominent players in the market include Cantel Medical, Ecolab, CONMED Corporation, Custom Ultrasonics.com, Micro-Scientific, LLC, Summit Imaging, Inc., Olympus Corporation, STERIS, Getinge AB, and Wassenburg Medical. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the United States endoscope reprocessing market.
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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of United States Endoscope Reprocessing Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in United States Endoscope Reprocessing Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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