Endoscope Repair Market

Endoscope Repair Market Worth US$ 1,649.7 Mn by 2025-End
Increasing demand for endoscopic procedures, owing to its benefits of being a minimally invasive
procedure, is anticipated to boost growth of the global endoscope repair market. Guidelines
published by several government authorities, including the Food and Drug Administration (FDA),
Society of Gastroenterology Nurses and Associates (SGNA), Centers for Disease Control and
Prevention (CDC), and American Society for Gastrointestinal Endoscopy (ASGE) have played a
key role in ensuring manufacturers focus on quality compliance. This, in turn, has catalyzed the
demand for endoscope repair services.
Rising Colorectal & Gastrointestinal-related Diseases to Drive Market Growth
According to Persistence Market Research (PMR), the global endoscope repair market is projected
to register a significant 6% CAGR during the forecast period (2017 to 2025). The market is
estimated to generate revenues worth US$ 1,649.7 Mn by 2025-end. This growth is primarily
attributed to shifting preferences of doctors and patients from conventional procedure toward
endoscope procedure owing to its safety and efficacy.
In addition, rising popularity of colorectal and gastrointestinal-related diseases has led to increasing
demand for endoscopy procedures, primarily for detection and treatment purposes. According to
WHO, incidences of benign, malignant gastrointestinal diseases, and colorectal complications have
gained an uptick among elderly population. This is further expected to propel demand for
endoscopes and drive growth of the market.
North America will remain the largest market for endoscope repair with more than 30% share,
followed by Europe and Asia Pacific (APAC). The North America endoscope repair market is
expected to exceed US$ 600 Mn by 2025-end. APAC is anticipated to exhibit fastest growth at 6.3%
CAGR through 2025, followed by Europe and Middle East & Africa (MEA).
Laparoscope to Remain Top-Selling Product in the Market
Although laparoscope will remain the top-selling product in the market, it is expected to witness a
slight decline in its share by 2025-end. Gastroscope is expected to be the second largest product in
the market. Esophagoscope will be the fastest-selling product, while demand for hysteroscope and
duodonoscope will rise congruently at 6.4% CAGR.
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Based on modality type, flexible endoscope is expected to retain its dominance over the market,
reaching over 60% market share by 2025. However, demand for rigid endoscope is projected to
exhibit a relatively higher CAGR. OEMs are expected to be the largest service providers in the
global endoscope repair market, whereas third-party vendors are projected to witness a
comparatively higher growth in demand.
Advent of Medical Tourism across APAC Countries to Create Opportunities for Market Growth
Elevating repair and service costs of endoscope devices has led to price sensitivity in the market.
Stiff competition between OEMs and third-party vendors has resulted into price variations. OEMs
and third party vendors provide high-quality, scalable customized packages based on customer
requirements, which in turn is expected to pave opportunities for market growth. An array of
opportunities for market growth might be created in APAC, owing to wide acceptance of various
endoscopes in this region. The advent of medical tourism across APAC countries viz. Malaysia,
India, Philippines, Indonesia, Thailand, and Vietnam is further expected to create opportunities for
growth of the global endoscope repair market during the forecast period.
Key players identified in the report include Stryker Corporation, Medivators Inc., Olympus
Corporation, Pentax Medical Company (Hoya Corporation), Smith & Nephew PLC., Fujifilm
Holdings Corp., Karl Storz GmbH & Co. KG, Medserv International, Inc., Endoscopy Repair
Specialist Inc., Fibertech Incorporation, Associated Endoscopy, Inc., EndocorpUSA, Medical
Optics, HMB Endoscopy Products, Endodoctor GmbH, Schölly Fiberoptic GmbH, AED.MD,
XION GmbH, Integrated Medical Systems International, Inc., United Endoscopy.
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According to Persistence Market Research (PMR), the global endoscope repair market is projected to register a significant 6% CAGR during the forecast period (2017 to 2025). The market is estimated to generate revenues worth US$ 1,649.7 Mn by 2025-end. This growth is primarily attributed to shifting preferences of doctors and patients from conventional procedure toward endoscope procedure owing to its safety and efficacy.

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