Endoscope Reprocessing Market Surges to USD 3.35 Billion by 2031, Propelled by 7.67% CAGR – Verified Market Research®
The endoscope reprocessing market is driven by increasing endoscopic procedures due to rising chronic disease prevalence and advancements in endoscopic technology. Additionally, stringent regulations for infection control and growing awareness about patient safety fuel market growth. However, high costs of reprocessing equipment and limited reimbursement policies act as restraints. The need for skilled professionals and the risk of contamination due to improper reprocessing also hinder market expansion.
Lewes, Delaware, July 04, 2024 (GLOBE NEWSWIRE) — The Global Endoscope Reprocessing Market is projected to grow at a CAGR of 7.67% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 1.96 Billion in 2023 and is expected to reach USD 3.35 Billion by the end of the forecast period.
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Browse in-depth TOC on “Global Endoscope Reprocessing Market”
202 – Pages
126 – Tables
37 – Figures
Scope Of The Report
| REPORT ATTRIBUTES | DETAILS |
| STUDY PERIOD | 2018-2031 |
| GROWTH RATE | CAGR of 7.67% from 2024 to 2031 |
| BASE YEAR FOR VALUATION | 2023 |
| HISTORICAL PERIOD | 2018-2022 |
| FORECAST PERIOD | 2024-2031 |
| QUANTITATIVE UNITS | Value in USD Billion |
| REPORT COVERAGE | Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis |
| SEGMENTS COVERED |
|
| REGIONS COVERED |
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| KEY PLAYERS | Advanced Sterilization Products (A Johnson & Johnson Company), Cantel Medical, Laboratories Anios (A Subsidiary of Ecolab Inc.), Olympus, Wassenburg Medical (A Member of Hoya), Custom Ultrasonics |
| CUSTOMIZATION | Report customization along with purchase available upon request |
Endoscope Reprocessing Market Overview
Increasing Endoscopic Procedures: The endoscope reprocessing market is being pushed by an increase in endoscopic treatments due to increased chronic illness prevalence and the growing use of less invasive surgeries. This tendency increases demand for reprocessing solutions to assure the availability of clean and safe endoscopes, greatly boosting the market growth.
Stringent Regulatory Standards: Stringent regulatory regulations for infection control in healthcare environments require the use of appropriate endoscope reprocessing procedures. Compliance with these rules motivates healthcare facilities to invest in advanced reprocessing equipment, ultimately boosting market expansion and ensuring patient safety.
Technological Advancements: Endoscope reprocessing technology innovations, such as automated systems and high-level disinfectants, improve workflow efficiency and efficacy. These developments not only increase the quality of reprocessing but also lower turnaround times, adding to the growth of the endoscope reprocessing industry.
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High Equipment Costs: The high prices of modern reprocessing equipment and consumables pose obstacles to the endoscope reprocessing market. Medical centres, particularly smaller clinics, may find these costs prohibitive, which could slow the market’s adoption of innovative reprocessing options.
Limited Reimbursement Policies: The expansion of the industry could be impeded by inadequate reimbursement policies for endoscopic treatments and the reprocessing expenses that go along with them. Potentially limiting healthcare providers’ capacity to invest in essential reprocessing equipment and services due to budgetary restrictions, this could hold down market expansion.
Skilled Personnel Requirements: An obstacle to market expansion is the requirement for skilled operators to handle advanced endoscope reprocessing machinery. The endoscope reprocessing industry is seeing a decline in the adoption of advanced reprocessing technology due to a lack of trained workers, which in turn increases the danger of infections from poor reprocessing techniques.
Geographic Dominance:
The modern healthcare infrastructure, strict regulations, and increased acceptance of endoscopic operations in North America drive the endoscope reprocessing industry to dominance. The rising demand for reprocessing solutions is a direct result of this geographical dominance, which guarantees significant market growth. Also, Europe is right behind with its strong healthcare systems and rules and regulations. Improving healthcare facilities and increasing awareness are driving fast growth in emerging nations in Asia-Pacific, which is further expanding the market’s global footprint.
Endoscope Reprocessing Market Key Players Shaping the Future
Major players, including Advanced Sterilization Products (A Johnson & Johnson Company), Cantel Medical, Laboratories Anios (A Subsidiary of Ecolab Inc.), Olympus, Wassenburg Medical (A Member of Hoya), Custom Ultrasonics and more, play a pivotal role in shaping the future of the Endoscope Reprocessing Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry’s key players.
Endoscope Reprocessing Market Segment Analysis
Based on the research, Verified Market Research® has segmented the global Endoscope Reprocessing Market into End User, Product, And Geography.
- Endoscope Reprocessing Market, by End User
- Hospitals
- Ambulatory Centers
- Endoscope Reprocessing Market, by Product
- High-Level Disinfectants & Test Strips
- Detergents & Wipes
- Automated Endoscope Reprocessors
- Single-Basin Automated Endoscope Reprocessors
- Double-Basin Automated Endoscope Reprocessors
- Endoscope Drying, Storage, & Transport Systems
- Endoscope Tracking Systems
- Endoscope Reprocessing Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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