August 04, 2022 16:12 ET | Source: Arizton Advisory and Intelligence Arizton Advisory and Intelligence
Chicago, Aug. 04, 2022 (GLOBE NEWSWIRE) -- According to Arizton’s latest research report, endoscope reprocessing market is expected to grow at a CAGR of over 8.5% during 2022-2027. The presence of a large target population and endoscope reprocessing equipment manufacturers contributes to the high market share of North America. APAC is likely to be the fastest growing region with the highest CAGR of 9.60% during the forecast period. The main reason for fast growth in the region is due to the growing availability of endoscope reprocessing systems, the presence of cheap labor, the low cost of manufacturing, and major technological advances in the healthcare sector.
In 2021, automated endoscope reprocessing accounted for an over 68% share in the global endoscope reprocessing market. Endoscopes are semi critical devices that require a high level of disinfection. There are two methods of endoscope disinfection: manual disinfection and automated endoscope reprocessing. During manual disinfection, the cleaner is exposed to an irritant and toxic disinfectant solution. Sufficient cleaning requires manpower, and a constant level of disinfection effects is hardly obtained even though only one person performs the whole process. Therefore, automated endoscope reprocessing (AERs) are frequently used these days.
Global Endoscope Reprocessing Market Report Scope
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Increasing Hospital Investments in Endoscopes & Related Reprocessing Systems
Healthcare facilities and other standalone diagnostics centers are under more pressure to run an efficient, profitable operation for performing endoscopic procedures. Many endoscopy departments undertake efforts to increase their volume without increasing their procedure costs. In 2021, the Jamaican government announced an investment of around $700 million to procure diagnostic and other medical devices. In addition, preparatory groundwork is underway on a new over $17 million state-of-the-art endoscopy unit. The funding is part of a $28.23 million emergency national capital investment given to Queen Elizabeth Hospital (QEH), which will modernize the hospital’s facilities for patients, their families, and staff.
In 2022, an investment of over $6 million was made in a new endoscopy and urology diagnostic hub at the Friarage Hospital in Northallerton, UK, which is due to open later this year. The new hub will provide state-of-the-art facilities to patients undergoing urology and endoscopy procedures. Such funding also contributes to the increased purchase of endoscope reprocessing. For instance, in February 2022, the Rotary Club of Wellington, Canada, entered a second pledge commitment with the Prince Edward County Memorial Hospital Foundation to fund up to $60,000 to purchase an AER needed at the Quinte Health Care Prince Edward County Memorial Hospital, Canada.
With the increased investments and fundings made for endoscopes and their reprocessing equipment, more patients can easily undergo these procedures, minimizing the risk of endoscopic infections that can pass to patients and healthcare professionals. Such factors will contribute to the growth of the global endoscope reprocessing market during the forecast period.
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