Increasing research and development activities to discover better drugs for cancer and other diseases will elevate the need for endoscopes cabinet. Moreover, the growing construction of hospitals worldwide and rising collaborations between biopharmaceutical companies and research organizations will further aid market augmentation.
Additionally, growing geriatric population attributes to the high prevalence of chronic diseases thus generating demand for endoscopes cabinet. On the other hand, the high cost of product and lack of awareness regarding its uses and benefits will reduce product adoption and hinder industry growth in the upcoming years.
The COVID-19 pandemic escalated the demand for the product as a large number of people were admitted to hospitals. However, market proliferation declined as the growing demand could not be fulfilled due to closure of manufacturing facilities in several economies.
Regionally speaking, North America will hold the largest global market share in the forecast period backed by growing occurrence of infections due to the usage of contaminated endoscopes. Moreover, the launch of advanced products and rising number of FDA approvals will boost market augmentation in this region.
According to Business Research Insights, the global endoscopes cabinet market size was assessed at USD 149.9 million in 2022 and is slated to reach a valuation of USD 207.9 million by 2028 with a CAGR of 5.6% over the forecast timeframe. The market has leading players such as Cantel Medical Corporation, STERIS, Wassenburg Medical, Steelco SpA, SoluScope, SciCan and others.
These companies are making strategic decisions such as mergers & acquisitions, collaborations, partnerships, and product launches to gather larger revenues, improve profit margins, and enhance geographical reach. Moreover, these decisions help industry leaders to strengthen their positioning in the global market.
Business Research Insights Lists Top 7 Endoscopes Cabinet Companies:
1. Cantel Medical Corporation (U.S.)
Headquartered in New Jersey, Cantel Medical Corporation is leading manufacturer and seller of medical equipment. The company specializes in the medical, dental, and life sciences segments. It aims to provide infection prevention services and products such as water purification, endoscopy, and healthcare disposables to help improve patient outcomes and save lives. Some endoscopy procedure products provided by the company include: DEFENDO sterile single use valves, ENDO Smartcap Tubing, ENDOGATOR Irrigation Tubing, ENDOGATOR Hyrid Tubing, ENDOGATOR Irrigation Flushing Pump, and ENDO STRATUS CO2 and Irrigation Pump.
2. STERIS (U.S.)
STERIS is a leading global provider of products and services that support patient care with an emphasis on infection prevention. The company provides a wide array of products for several applications including hospitals & surgery centers; medical device, pharmaceutical, and biotechnology; research and laboratory; and dental.
3. Wassenburg Medical (Netherlands)
Wassenburg Medical is an industry leader in delivering excellent endoscope reprocessing solutions and products. Founded in 1984, the business has developed from a family company to a global player and is an expert in all aspects associated with automated endoscope reprocessing. The company provides end-to-end solutions including pre-cleaning, washing and disinfection, drying and storage, and transport and traceability. The company has sales offices in Ireland, U.K., Belgium, Germany, and France and the geographical reach of the company extends to Europe, Australia, Middle East, New Zealand and Africa.
4. Steelco SpA (Netherlands)
The Steelco Group was founded in Italy in 2001 and has been a part of the Miele Group since 2017. It is one of the leading manufacturers of sterilization systems for pharmaceutical, healthcare, and research laboratories. The company offers tailored end to end solutions which are both reliable and efficient. These solutions play an important role in maximizing safety levels, enhancing procedures, and cutting operating costs. The company has clients in 100 countries globally with commercial branches in 14 nations.
5. Soluscope (France)
Soulscope designs, develops, and manufactures a wide array of automatic endoscope reprocessors, transport devices designed for endoscopy services, drying and storage cabinets with horizontal and vertical configuration, and a software platform for endoscope instruments traceability. The company is a part of the Laboratoires Anios group since 2014.
6. LTE Scientific (Europe)
Established in 1947, by local businessmen William Heathcote and Herbert Parkin in Greenfield, LTE was previously known as Laboratory Thermal Equipment. In the beginning, the company specialized in designing and manufacturing incubators, ovens, and other temperature-controlled products. After several acquisitions, the company finally entered the endoscope cabinets domain in 2007. LTE’s Scope-Store range has grown in popularity since its launch and has established a strong presence in the UK and overseas. The launch of the modern Scope-Store IQ+ took LTE to new heights with its advanced controls and up to 30 days of safe storage for processed endoscopes.
7. Prime Focus Endoscopy (Canada)
Prime Focus Endoscopy was founded in 2002 owing to the rising demand for better prices and enhanced services in the flexible endoscope repair field. Through its dedication and efforts to provide the best service to its clients, the company soon turned into a “full-service repair company”. In 2015, Prime Focus Endoscopy entered into a merger with Nutramerica (a leading foodservice distributor for Canadian hospitals) to form CDR Global Solutions Inc. The company continues to remain a major division for CDR Global Solutions, representing approximately 75% of the corporation’s annual revenues. Its products include- certified pre-owned endoscopes, medical storage solutions, surgical imaging software, enzymatic solutions, and AER filters.
Surging Demand for Safe Storage Alternatives for Endoscopes to Drive Market in the Future
The growing number of severe accidents which lead to surgeries have increased the need for safe storage containers for endoscopes. Moreover, the increasing adoption of endoscopic equipment in the healthcare sector, increasing incidences of cancer, and growing age-related problems among the populace will also contribute to product demand in the upcoming years.