Endoscope Reprocessing Market worth $3.2 billion by 2026 – Growing Medical Device Industry in Emerging Economies

PUNE, India, 2021-Aug-05 — /EPR Network/ —

The Key Growth Elements in Detailed?

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.

Worldwide Growth Opportunities in Terms of Revenue:

The Global 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.

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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Regional Growth, Development and Demand Analysis:

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 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.

Major Key Players Mentioned in the research report are:

The major players operating in this 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).

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 endoscope tracking solutions 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.

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Key Developments in Endoscope Reprocessing Market:

• 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.