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(Health-NewsWire.Net, November 25, 2021 ) MarketsandMarkets Research Report’s View on Revenue Impact?
The Endoscope Reprocessing 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.
Factors Responsible for Growth and In-Depth Analysis?
The increasing preference for endoscopic procedures, high risk of endoscope-associated infections, growing geriatric population and the subsequent increase of endoscopic procedures, and increasing emphasis on improving reprocessing guidelines by healthcare facilities in the market during the forecast period.
Recent Developments:
- In 2021, Getinge partnered with researchers from the School of Business, Economics and Law at the University of Gothenburg, Sweden, on customer-centric innovation and sustainability. This will help the company gain access to the researchers’ socially relevant and applicable knowledge.
- In 2021, Getinge opened a new Customer Experience Center to interact with and support customers.
- In 2020, STERIS entered into a definitive agreement to acquire Cantel through a US subsidiary. The acquisition will enable STERIS to offer a broader set of Customers a more diversified selection of infection prevention and procedural products and services.
- In 2020, Olympus Corporation launched OER-Elite.
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Leading Key Players and Analysis:
The major players operating in 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).
Cantel Medical is the leading player in the endoscope reprocessing market accounting for a share of 17.2% in 2020. Cantel offers a wide range of products in the market through its Medical business segment. The company has advanced products such as the Advantage Plus series of AERs. AERs provide unsurpassed infection control and the lowest cost of ownership. The company holds a large share of the market in terms of efficiency and performance. A strong focus on R&D and new product development helps the company be a frontrunner in innovations and accelerate its revenues. The company also focuses on inorganic growth strategies to strengthen its position in the market.
For instance, in 2020, the company entered into a partnership with Censis Technologies. The partnership has combined Cantels leading infection prevention endoscope reprocessing workflow portfolio with the surgical asset management and instrument tracking solutions from Censis. These activities have helped the company gain a strong foothold in the market.
Geographical Analysis in Detailed?
The endoscope reprocessing market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. In 2020, North America commanded the largest share of the endoscopy market. The largest share of North America can be attributed to factors such as the rising incidence of cancer, favorable reimbursement scenarios, and increasing incidence of endoscope-related infections.
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Industry Segmentation:
“High-level disinfectants and test strips are expected to hold the largest share of the endoscope reprocessing market”
Based on product, 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 Endoscope Tracking Solutions 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 market”
Based on end users, 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 endoscope reprocessing 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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MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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