Endoscope Reprocessing Market Growing at a CAGR of 9.0% – Growing Medical Device Industry in Emerging Economies

Endoscope Reprocessing Market

According to the new market research report “Endoscope Reprocessing Market by Product (HLD and Test Strips, Detergents & Wipes, AER (Portable, Standalone), Endoscope Tracking Solutions, Endoscope Drying, Storage, & Transport Systems), End User (Hospitals, ASCs & Clinics) – Global Forecast to 2026″, published by MarketsandMarkets™, the endoscope tracking solutions market is projected to reach USD 3.2 billion by 2026 from USD 2.1 billion in 2021, at a CAGR of 9.0% from 2021 to 2026.

Growth Opportunity: Growing medical devices industry in emerging economies;

Emerging economies such as India, China, Brazil, Russia, and countries in Latin America and Southeast Asia are expected to provide significant growth opportunities to players operating in the endoscope reprocessing market. Over half the world’s population resides in India and China, making these markets home to a large patient population. Public pressure to improve the quality of hospital care, the increased cost of HAIs in healthcare systems, the emergence of multi-drug-resistant microorganisms, and the initiatives of government authorities are playing an important role in the growth of the market in these countries.

Emerging economies in the APAC region present lucrative investment opportunities for multinational infection control companies to offshore their business operations to these markets. For instance, in September 2018, Ecolab inaugurated the Greater China Healthcare Innovation and Customer Experience Center in Shanghai. In October 2017, the company expanded its presence across the APAC region by establishing new headquarters in Singapore. Expansions in emerging markets are driving the uptake of endoscope reprocessing products in the medical device manufacturing industry in these countries, thereby providing growth opportunities for the product manufacturers and service providers.

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Endoscope Reprocessing Market
Endoscope Reprocessing Market

“North America commanded the largest share of the endoscope reprocessing market in 2021.”

Based on region, segmented into North America, Europe, Asia Pacific, and the Rest of the World. In 2020, North America commanded the largest share of the market. The large share of this market segment can be attributed to factors such as the rising incidence of cancer, favorable reimbursement scenarios, and increasing incidence of endoscope-related infections.

The major players operating in this endoscope reprocessing market are Cantel Medical (US), Advanced Sterilization Products (ASP) (US), Olympus Corporation (Japan), Ecolab (US), STERIS (Ireland), Getinge AB (Sweden), Wassenburg Medical (Netherlands), CONMED Corporation (US), Belimed AG (Switzerland), Endo-Technik W. Griesat (Germany), Custom Ultrasonics (US), Steelco S.p.A. (Italy), BES Healthcare Ltd (UK), ARC Healthcare Solutions (Canada), Metrex Research, LLC. (Canada), Richard Wolf GmbH (Germany), Medalkan (Greece), Micro-Scientific, LLC (US), Borer Chemie AG (Switzerland), Tuttnauer (Netherlands), ATMS (Canada), Summit Imaging, Inc. (US), Medonica Co. LTD (South Korea), SHINVA MEDICAL INSTRUMENT CO. LTD (China), and Medical Devices Group Srl (Italy).

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“High-level disinfectants and test strips are expected to hold the largest share of the endoscope tracking solutions market”

Based on product, the global endoscope reprocessing market is segmented into high-level disinfectants and test strips; detergents & wipes; endoscope tracking systems; endoscope drying, storage, and transport systems; automated endoscope reprocessors (AERs); and other products (brushes and flushing aids, leak testers, hookups, and sponges). In 2020, the high-level disinfectants and test strips segment accounted for the largest share of the global market. The large share of this segment can be attributed to the increasing outbreaks linked to inadequate cleaning or disinfecting during HLD, the effectiveness of high-level disinfectants for quality assurance in decontaminating endoscopes, and rising adherence to endoscope reprocessing guidelines by healthcare centers.

“Hospitals are expected to hold the largest share of the endoscope reprocessing market”

Based on end users, the endoscope tracking solutions market segmented into hospitals, ambulatory surgery centers and clinics, and other end users (diagnostic centers, mobile endoscopy facilities, and office endoscopy centers). In 2020, the hospitals segment accounted for the largest share of the global market. The large share of this segment can be attributed to the increasing government & private funding, growth in the healthcare sector in emerging economies, increasing out-of-pocket healthcare expenditure worldwide, and the increasing number of endoscopic procedures performed.

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