Market Trends of Global Disposable Endoscope Industry
This section covers the major market trends shaping the Disposable Endoscope Market according to our research experts:
Gastrointestinal Segment is Expected to Hold a Significant Market Share Over the Forecast Period
The major factors boosting the market growth in the gastrointestinal segment are the increased prevalence of gastrointestinal diseases, coupled with increased initiatives such as approval, etc. For instance, in 2020, a GLOBOCAN report stated that the incidence of stomach cancer was 1,089,103 in 2020. This count is expected to rise to 1,810,870 by 2040. The rising number of stomach cancer is expected to boost the market growth since there is likely to be an increased number of early diagnoses of cancer and thus the adoption of more disposable endoscopes.
Increased research and development in the field of gastroenterology fuels market growth. For instance, in an article published in 2022 under the title 'Disposable versus reusable gastroscopes: a prospective randomized noninferiority trial', recently, disposable gastroscopes were created to reduce the risk of infection spread from contaminated reusable gastroscopes. Disposable gastroscopes offer an alternative to reusable gastroscopes for routine examination due to their overall safety profile and comparable technical performance. Since the awareness relating to the advantage of disposable gastroscopes is rising from the research initiatives like this, the adoption of disposable gastroendoscopes is likely to boost the market growth.
Product launches and collaborations are two key market development drivers. For instance, in October 2020, the Asian Institute of Gastroenterology (AIG), located in Hyderabad, India, received an AI diagnostic support system due to a partnership between Olympus Corporation and Cybernet Systems Co. Ltd. The market is anticipated to expand in the future due to rising developments in several end-user facilities as well as rising product releases and partnerships. Thus, the above-mentioned factors are expected to increase market growth over the forecast period.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
North America is expected to hold a major market share in the global disposable endoscope market over the forecast period due to the increasing incidences of infection in hospitals because of the contaminated endoscope, which is resulting in high demand for disposable endoscopes. The adoption of disposable endoscopes is increasing due to the rising prevalence of nosocomial infections in this region. Furthermore, the rise in the number of FDA approvals and launches of new products, technological advances, increasing healthcare expenditure, and the presence of well-established healthcare infrastructure is also fueling the growth of the overall region to a large extent.
Additionally, favorable government assistance is fostering market expansion. For instance, the Food and Drug Administration (FDA) of the United States updated its "Safety Communication" in April 2022 and reiterated its suggestion that hospitals and endoscopy institutions switch to utilizing only completely or semi-disposable duodenoscopes. The FDA further said that cutting-edge device designs that make reprocessing simpler, more efficient, or unnecessary are the best way to lower the risk of disease transmission by duodenoscopes. Duodenoscopes with disposable parts can be easier to clean, less contaminated, and less likely to spread disease after reprocessing. As a result, government plans like this one foster market expansion in the region under scrutiny.
Moreover, increasing product approvals are driving the market's growth. For instance, in July 2022, ZSquare, a leader in the creation of high-performance, single-use endoscopes, stated that the FDA has approved the company's first product, the Square ENT-FlexTM Rhinolaryngoscope, for commercial release. Square plans to do a test rollout at esteemed medical practices and universities in the United States by Q4 2022. As per the factors mentioned above, the market studied is expected to grow in the region.
