Asia Pacific Disposable Endoscopes Market Worth $2.4 Billion By 2030
Asia Pacific Disposable Endoscopes Market Growth & Trends
The Asia Pacific disposable endoscopes market size is expected to reach USD 2.4 billion by 2030,registering a CAGR of 18.8% during the forecast period, according to a new report published by Grand View Research, Inc. This growth can be attributed to the growing cases of contamination due to reusable endoscopes, increasing respiratory & chronic diseases, and the rise in the number of endoscopic procedures in the region. Furthermore, the unique selling propositions of disposable endoscopes, such as cost-effectiveness and lower chances of contamination, are also anticipated to drive the adoption of the product.
By application, the highest revenue share of around 29% was held by the bronchoscopy segment in 2021. This can be attributed to the growing preference and adoption of disposable bronchoscopes & their components for the removal of foreign substances & blockages from the airways or lungs. The lack of skilled professionals for cleaning and disinfecting reusable bronchoscopes is also anticipated to support the adoption of disposable units for lung disorder procedures. In addition, increasing mortality due to lung disorders is also expected to accelerate segment growth over the forecast period.
By end-use, the hospital segment is expected to hold a high revenue share of over 47% in 2021 owing to the increasing number of endoscopic procedures performed in hospitals and growing patient preference for early disease diagnosis. In addition, favorable reimbursement policies and low procedural costs of government hospitals also boosted the growth of the segment in the global market. However, the fastest growth rate is anticipated from the clinics segment due to the high preference for use of disposable endoscopes & components in these centers due to low postprocedural complications & quick recovery time.
The COVID-19 pandemic has positively impacted the adoption of single-use endoscopes. The rise in fear of contracting coronavirus infection has fueled the adoption of single-use endoscopic devices along with other disposable equipment. Several hospitals and clinics in the Asia Pacific region, performing endoscopic procedures, turned to disposable units to lower postprocedural complications and improve patient engagement during the pandemic. In addition, the continued lockdown and shortage of medical staff due to the COVID-19 infection also hampered the reprocessing of reusable endoscopes, thereby supporting the adoption of single-use devices.
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Asia Pacific Disposable Endoscopes Market Report
Asia Pacific Disposable Endoscopes Market Report Highlights
- On the basis of application, bronchoscopy dominated the market
- There is a growing preference and adoption of disposable bronchoscopes & their components for the removal of foreign substances and blockages from the airways or lungs
- By end-use, the hospitals segment dominated the market in terms of revenue, which can be attributed to the high number of endoscopic procedures performed in the hospitals