According to GlobalData’s latest market model, the disposable endoscopes market is set to grow at a remarkable compound annual growth rate (CAGR) of 29%, resulting in a global market value exceeding $6bn by 2030. This impressive growth rate is facilitated by the demand for healthcare systems to reduce time, costs and cross-contamination potential when using more traditional, reusable endoscopes.
Sales of disposable endoscopes spiked at the onset of the Covid-19 pandemic, as it became necessary for healthcare facilities to redirect their resources towards Covid-19 patients and to eliminate even the slightest chances of patient-to-patient cross-contamination from using sterilised reusable endoscopes.
The emerging market for disposable endoscopes, also known as single-use endoscopes, is rapidly growing and new types of disposable devices and manufacturers enter the market every year. Some products, like Ambu’s aScope Broncho disposable bronchoscope, have been marketed for more than ten years, while others, such as Boston Scientific’s EXALT Model D disposable duodenoscope, have only been approved for use since late 2019. With high interest from healthcare professionals seeking alternatives to reusable endoscopes that at times resulted in cross-contamination issues, the market experienced double or triple-digit annual growth from 2015 to last year.
The rapid growth of this market is also attributed to simple economics. The cost of purchasing reusable endoscopes is often an order of magnitude or higher than the cost of their disposable counterparts, so the market growth of disposable devices is expected to be driven by both well-funded healthcare systems and more budget-conscious medical facilities worldwide.
This market is currently dominated by just a few manufacturers, most notably Ambu and Boston Scientific. GlobalData expects other medical device manufacturers to continue entering this market as early as this year, however, thus increasing its competitiveness. These may include well-established, highly diversified manufacturers like Medtronic and Ethicon, as well as large manufacturers and startup companies that already specialise in endoscopic devices, such as Olympus.
The disposable endoscopes market will disrupt the reusable endoscopes market. GlobalData estimates the global market value for 11 reusable endoscope types to have been worth $6.76bn last year, growing at a CAGR of 7.5%. For the market leaders of these devices to remain competitive in an increasingly disruptive market, they will need to begin manufacturing single-use endoscopes before the competitive landscape becomes overly crowded.