According to the latest market report published by Persistence Market Research titled “Global Market Study on Automated Endoscope Reprocessors: Single Basin Automated Endoscope Reprocessors Product Type Segment Anticipated to Register a CAGR of 8.6% Between 2016 and 2024 ” the global automated endoscope reprocessors market was valued at US$ 740.6 Mn in 2015 and is expected to expand at a CAGR of 7.2% during an eight-year forecast period 2016–2024, to reach a market valuation of US$ 1,367.6 Mn by 2024.
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Rising use of automated endoscope reprocessors in hospitals for controlling and preventing infection, rise in endoscopy procedures and minimally invasive surgeries, growing concerns about patient safety among clinicians, and development of new automated endoscope reprocessors are major factors driving revenue growth of the global automated endoscope reprocessors market. Manufacturers of automated endoscope reprocessors operating in the global market are focusing on introducing differentiated products with increased safety and applications to augment market share.
Some of the inherent challenges such as infection risk and other complications after a procedure are likely to hamper revenue growth of the global automated endoscope reprocessors market over the forecast period.
The global automated endoscope reprocessors market is segmented on the basis of product type (Single Basin Automated Endoscope Reprocessors, Double Basin Automated Endoscope Reprocessors); modality (Standalone Automated Endoscope Reprocessors, Bench Top Automated Endoscope Reprocessors); end user (Hospitals, Ambulatory Surgical Centers, Clinics); and region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
The Single Basin Automated Endoscope Reprocessors product type segment is anticipated to dominate the global automated endoscope reprocessors market and is expected to create absolute $ opportunity of US$ 26.7 Mn in 2017 over 2016. The Standalone Automated Endoscope Reprocessors modality segment accounted for 68.6% value share in 2015 and is projected to be the most attractive market segment over the forecast period. The Hospitals end user segment is expected to be the most dominant segment in the global automated endoscope reprocessors market through 2024 and is estimated to register a CAGR of 8.2% between 2016 and 2024.
Among regions, North America is estimated to dominate the global automated endoscope reprocessors market with maximum value share of the overall market by the end of 2016. The North America automated endoscope reprocessors market is expected to represent absolute $ opportunity of US$ 21.4 Mn in 2017 over 2016. Presence of key regional players, a strong distribution network, and developed healthcare infrastructure are the key factors driving the growth of the automated endoscope reprocessors market in North America.
Europe is projected to be the second most lucrative region for automated endoscope reprocessors and revenue from this regional market is expected to increase 1.8X by 2024 end as compared to that in 2016. Increasing private equity funding in the European healthcare market is expected to improve investment in healthcare facilities across Europe, which in turn is anticipated to increase demand for automated endoscope reprocessors over the forecast period. The Asia Pacific market is expected to witness high growth over the forecast period to be the third most attractive market, with an attractiveness index of 0.7 during the forecast period.
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The global automated endoscope reprocessors market report profiles some of the key players operating in the global market. Companies featured in the report are Johnson & Johnson, Steelco SpA, Cantel Medical Corp., STERIS Plc., Laboratoires Anios, Getinge Group, Hoya Group, Olympus Corporation, and Metall Zug AG. These companies are primarily focused on enhancing their market share by entering new markets and by introducing innovative and cost-effective automated endoscope reprocessors in order to strengthen their respective position in the global market.