Northrook, IL -- (SBWIRE) -- 05/04/2020 -- [155 Pages Report] The Global Endoscope Reprocessing Market is expected to grow at a CAGR of 8.6% to reach USD 2.15 Billion.

Factors such as high risk of infections associated with improper sterilization of endoscopes, increasing investments, funds, and grants by government bodies across the globe, rising number of hospitals and growing hospital investments in endoscopy instruments, and rising prevalence of diseases that require endoscopy procedures are driving the growth of the global market for endoscope reprocessing during the forecast period.

Research Methodology

Top-down and bottom-up approaches were used to validate the size of the global endoscope reprocessing industry and estimate the size of other dependent submarkets. Various secondary sources such as associations like the European Association for Medical Device Reprocessing, American Society for Gastrointestinal Endoscopy (ASGE), Centers for Disease Control & Prevention (CDC), Society of Gastroenterology Nurses and Associates, Inc. (SGNA), The Society for Healthcare Epidemiology of America (SHEA), National Standardization Technical Committee for Sterilization Technique and Equipment of SFDA, Canadian Society of Gastroenterology Nurses and Associates (CSGNA), Healthcare Infection Control Practices Advisory Committee (HICPAC), Korean Society of Gastrointestinal Endoscopy (KSGE).

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Objectives of the Study:

To define, describe, and measure the global endoscope reprocessing market by products, end user, and region

To provide detailed information regarding the major factors, such as drivers, restraints, growth opportunities, and challenges influencing the growth of the market

To analyze micro-markets with respect to individual growth trends, prospects, and contributions to the global market

To analyze the opportunities in the global market for key stakeholders and provide details of the competitive landscape for major market leaders

Industry Segmentation in Detailed:

On the basis of products, the market is segmented into high-level disinfectants and test strips; detergents and wipes; endoscope tracking systems; endoscope drying, storage, and transport systems; automated endoscope reprocessors (AERs); and other products (brushes and flushing aids, leak testers, hookups, and sponges). The high-level disinfectants and test strips segment held the largest share of the global market for endoscope reprocessing.

The end-user of the endoscope reprocessing market is segmented into hospitals, ambulatory surgery centers, and other end users (diagnostic centers, mobile endoscopy facilities, and office endoscopy centers). The hospital's segment is estimated to account for the largest share of the global market for endoscope reprocessing in 2017. The large share of this segment can be attributed to the increasing government and private funding, growth in the healthcare sector in emerging economies, increasing out-of-pocket healthcare expenditure across the globe, and the increasing number of endoscopic procedures performed

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Geographically, North America is estimated to account for the largest share of the global endoscope reprocessing market, followed by Europe. In the US, the market is driven by the favorable reimbursement scenario, rising incidence of cancer, increasing investments by hospitals to purchase new endoscopic equipment, and increasing incidence of endoscope-related infections. In Canada, the growth of the market is driven by the availability of physician bonuses and the implementation of a new funding model for Canadian hospitals.

The various players in the global market for endoscope reprocessing, include Advanced Sterilization Products (ASP) (US), Cantel Medical (US), Laboratories Anios (France), Olympus (Japan), Wassenburg Medical (The Netherlands), Custom Ultrasonics (US), STERIS (US), Steelco (Italy), Getinge (Sweden), ENDO-TECHNIK (Germany), BES Decon (UK), ARC Healthcare Solutions (Canada), and Metrex Research (US) among others.