The endoscope drying cabinets market was estimated to be worth USD 240 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of roughly 8.22% from 2023 to 2030, when it is expected to reach USD 450 million.
The use of technology in operating procedures is on the rise. Its key growth drivers are the upsurge of health care expenditure in evolving markets alike India and China, the growing incidence of lifestyle induced ailments and the amplified demand for high-tech modernizations by surgeons, physicians, and nurses. The medical technology is typically around minimally invasive procedures.
The aim of the report is to estimate the size of the market for endoscope drying cabinets and the future growth potential of the market for endoscope drying cabinets across various segments, such as product and end user.
The market has been studied for historic years from 2018 to 2019, with the base year of estimation as 2020 and forecast from 2021 to 2028. Factors such as growing prevalence of infectious diseases, upsurge in ageing population and quality improvement in minimally-invasive procedures are the key drivers of the global endoscope drying cabinets market.
Increase in demand for minimally invasive surgeries, higher adoption of endoscopic equipment in healthcare facilities, high prevalence of cancer, along with presence of large geriatric population in the U.S. and Canada are key factors likely to drive the growth of the endoscope drying cabinets market in the next few years. According to American Cancer Society, colorectal cancer is the third most frequently diagnosed cancer, with 104,610 new cases expected to be recorded in 2020. Also, individuals aged more than 50 years contributed to around 90% colorectal cancer (CRC) cases in the U.S. Moreover, colonoscopy refers to be the most effective commonly adopted procedure for the screening and diagnosis of CRC in older population in the country. U.S. dominated the North America endoscope repair market in 2019. High prevalence of colorectal cancer leading to increased demand for colonoscopies and laparoscopies in the U.S. can be attributed to its higher revenue share. Moreover, strong presence of original equipment manufacturers and independent service providers for endoscope repair are other factors for regional growth.
Endoscope Drying Cabinets Market Scope
|Revenue forecast in 2030
|USD 450 million
|CAGR of 8.22% during 2020-2030
|By Product, By End-user, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Olympus, Gallay Medical & Scientific, Stanley Healthcare, Smartline Medical Pty Ltd, MEDIVATORS Inc., Elmed Electronics & Medical Industry & Trade Inc., Choyang Medical Industry, Inc., Torvan Medical, DGM Pharma-Apparate Handel
Key Segments of the Global Endoscope Drying Cabinets Market
Product Overview, (USD Million)
- Single Door Cabinet
- Double Door Cabinet
- Multiple Door Cabinet
End User Overview, (USD Million)
- Ambulatory Surgical Centers
Regional Overview, (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
Important Companies in Global Endoscope Drying Cabinets Market
- Stanley Healthcare
- Wuxi AppTec
- Arc Healthcare Solutions
- DGM Pharma-Apparate Handel
- ELMED medical system
- Choyang Medical Industry, Inc.
Reason for the study
- Prevalence of infectious disease
- Increasing research activities for drug development
- Preference for precision surgical instruments
What does the report include?
- The study on the global endoscope drying cabinets market includes qualitative factors such as drivers, restraints and opportunities
- The study covers qualitative and quantitative analysis of the market segmented on the basis of product and end user. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global endoscope drying cabinets market is suitable for all the players across the value chain including product manufacturing companies, suppliers/distributors, R&D labs, CROs, healthcare organizations, medical reimbursement and insurance providers
- Venture capitalists and investors looking for more information on the future outlook of the global endoscope drying cabinets market
- Consultants, analysts, researchers, and academicians looking for insights shaping the global endoscope drying cabinets market