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Lexington Medical Achieves 10,000 Surgery Milestone for Endostapling Devices

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Market Analysis: Endoscopes

Despite multiple appearances on annual lists of technology hazards the past several years, endoscopes continue to be an important and valuable health care tool. In fact, the importance of these devices has prompted a laser focus on making sure they are cleaned correctly and continue to be available for health care providers.

A report from Market Research Store forecasts continued growth for the endoscope market.

“The global endoscopy devices market is estimated to be $30.1 billion in 2014 and is poised to reach $47.6 billion by 2022, growing at a compound annual growth rate (CAGR) of 5.90 percent from 2014 to 2022,” according to Market Research Store. “Some of the key factors driving the market growth are rising preference for minimally invasive surgeries, technological advancements and aging population. Whereas factors such as lack of skilled professionals and high investment costs for endoscopic equipment are restraining the market growth. Growing economic conditions, high income, developing health sectors and a large consumer base in emerging countries like India and China will drive the endoscopy device market opportunities.”

Another report also predicts continued market growth.

“The global endoscopy devices market is a fast growing market with huge potential for growth due to rapid technological advancements and large sum of public and private investment in medical infrastructure and health care,” according to Occams Business Research. “The global endoscopy devices market was valued at $31 billion approximately in 2015, and it is estimated to cross the $47 billion mark by 2022 with a healthy CAGR of around 6 percent for the forecast period 2015-2022.”

BCC Research also projects continued growth for the endoscope market.

“The global endoscopy device market is expected to grow from $32.5 billion in 2015 to roughly $45.2 billion by 2020, with a compound annual growth rate (CAGR) of 6.8 percent for the period of 2015-2020,” according to BCC Research.

MarketsandMarkets is another research group that predicts growth for the endoscope market.

“This market is expected to reach $33.6 billion by 2020 from $23.8 billion in 2015, at a CAGR of 6.1 percent,” MarketsandMarkets reports.

The cleaning of endoscopes is also a huge market.

“The global automated endoscope reprocessors market estimated to be worth $740.6 million in 2015, is expected to increase at a compound annual growth rate of 7.2 percent through 2024,” according to Persistence Market Research.

Endoscope cleaning is a part of the larger medical device cleaning market.

According to a Data Bridge Market Research market report, the global medical device cleaning market accounted to $1.54 billion in 2016 and is expected to expand at a CAGR of 5.3 percent during the forecast period of 2017 to 2024.

“The rise in the global medical device cleaning market is owing to rapid increase in geriatric population and rise in incidence of hospital-acquired infections (HAIs) and chronic diseases,” Data Bridge Market Research reports.

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