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Despite Reaching Near Saturation, the Market will Grow at Healthy Rate Driven by High Procedural Volume Growth Coupled with Consistently High Replacements and Newer Installations
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Endoscope reprocessing systems and workflow solutions was a $526.6 million market in the United States in 2017. It is expected to grow at healthy CAGR of 8.6% to reach $796.4 million in 2022.The market is segmented into two broad segments which are then divided into several sub-segments as mentioned below:• Endoscope reprocessing solutions o Core equipment Automated Endoscope Reprocessors (AERs) Storage and Drying Cabinets o Consumables Disinfectants and Chemicals Detergents o Support Products Scope Transport Carts (Trays and Trolleys) Flushing Sinks Test Strips Cleaning Products (Wipes, Sponges, Brushes)• Workflow Solutions o Integration Software Solutions o Track and Trace SolutionsEndoscopy procedures, increasing at a healthy CAGR of 5.3%, will drive the usage of endoscope reprocessing systems such as AERs, storage and drying cabinets, consumables, and accessories in an otherwise saturated market. Ambulatory surgical centers (ASCs) have been taking increasing loads of endoscopic procedures in the US, accounting for 61% of the procedures in 2017. Commensurately, the number of ASCs with endoscopy capabilities has increased over the past four years. The significant shift in procedural volumes to outpatient and office-based settings has provided considerable new market opportunities for endoscopy reprocessing equipment and software vendors. The smaller volume requirements of small- to mid-sized ASCs provide strategic alternatives to market participants in terms of newer, smaller, and more efficient AER models such as pass-through AERs and off-the-shelf, turnkey and targeted software solutions with niche capabilities to monitor and track endoscopes and their inventory and repair needs, in addition to reprocessing and maintaining throughput.The ratio between the number of endoscope decontamination facilities to that of endoscopy suites in the US is estimated to be around 0.55, indicating 1 decontamination unit for 2 endoscopy units. This indicates huge market potential for specialized outsourcing services for endoscope reprocessing in the US. While we believe that smaller facilities do send their scopes for reprocessing to adjoining bigger facilities, there was no evidence of specialized players offering outsourcing of endoscope reprocessing in significant volumes. While outsourcing of endoscope reprocessing has been recently initiated as a service in the European market, Frost & Sullivan believes that it is going to be an early-stage market in the US by the end of forecast period.Market participants are expected to adopt significant strategic alternatives to find newer growth opportunities in an otherwise saturated market. Some of these include end-to-end endoscopy department management, portfolio expansions, innovative financing schemes, as well as offering breakthrough innovation in terms of AER technology, capable of disrupting the market.
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