Mese: novembre 2022

The International Agency for Research on Cancer (IARC) estimates that the number of new cancer cases in Asia, Europe, North America, Latin America and Caribbean, Africa, and Oceania will surge from 9,503,710 in 2020 to 15,130,778 by 2040, 4,398,443 in 2020 to 5,323,141 by 2040, 2,556,862 in 2020 to 3,525,597 by 2040, 1,470,274 in 2020 to 2,435,315 by 2040, 1,109,209 in 2020 to 2,097,365 by 2040, and 254,291 in 2020 to 375,744 by 2040, respectively.

Besides, the mounting healthcare spending will also encourage the use of transradial access devices in the foreseeable future. According to the World Health Organization’s  Global Health Expenditure Database, the global health expenditure per capita surged from $1,064.094 in 2017 to 1,110.268 in 2018. Further, the Organization for Economic Co-operation and Development states that the governments of Australia, Canada, France, Japan, and the Netherlands spent AUD 119,068.3 million, CAD 169,184.6 million, EUR 220,779.3 million, JPY 50,079,461.0 million, and EUR 63,754.0 million, respectively, on healthcare in 2018.

Hospitals and clinics and ambulatory care centers (ACCs) use accessories, catheters, guidewires, and sheaths and sheath introducers on elderly patients and high-risk patients, such as cancer patients, for blood transfusion, drug administration, diagnostics and testing, and fluid and nutrition administration. In the coming years, catheters will be used in enormous quantities, due to the rising cases of coronary artery diseases. For instance, the CDC states that approximately 18.2 million adults aged 20 years and above in America were living with coronary artery disease in 2019.

According to P&S Intelligence, the European region led the transradial access devices market in the preceding years, due to the widescale establishment of outpatient clinics performing transradial intervention with the same-day discharge facility. Healthcare facilities in the region have largely accepted TRI as a default strategy for percutaneous coronary interventions. In the coming years, the U.S., Japan, and China will adopt a significant quantity of transradial access devices, due to the high burden of cancer and the presence of well-developed healthcare infrastructure in these countries.

Thus, the increasing requirement for chemotherapy and the growing elderly population will propel the use of transradial access devices, worldwide.

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From $405.6 million in 2021, the U.S. endoscope repair market is predicted to touch $990.7 million by 2030. The market is projected to grow at a 10.4% CAGR from 2021 to 2030 owing to a higher prevalence of respiratory, colorectal, and malignant gastrointestinal (GI) diseases than before; increasing number of hospitals, bettering quality of healthcare services, and highly competitive market players. Moreover, the increasing count of preventive treatments and diagnostic procedures due to a rising geriatric population will pave the way for an extensive usage of endoscopes.

The growing adoption of equipment insurance is one of the major trends in the U.S. endoscope repair market. There is a robust requirement for insurance because of the exorbitant maintenance costs of medical devices. To protect healthcare institutions from heavy losses owing to equipment damage and uncertainties, medical device insurance is offered by numerous corporations. They include DESCO, American International Group Inc., Anco Insurance, Medical Equipment Repair Associates, ProTek Insurance, Cailor Fleming Insurance, and CAN Financial Corporation.

Within the type segment, the U.S. endoscope repair market is bifurcated into the rigid category and flexible category. The flexible category generated the higher revenue in 2021, amounting to approximately 70% of the share. Built with moveable tubes, flexible endoscopes are easier to control. Because a range of tools can be fixed to their tips for various procedures and are lighter in weight, they are utilized in minute operations. Moreover, they permit better access, improved vision, and more comfort for patients. Hence, their extensive usage calls for regular maintenance, thereby driving the demand for insurance.

There is a boundless U.S. endoscope repair market growth opportunity in Texas. The state market is predicted to witness the highest compound annual growth rate from 2021 to 2030. This can be credited to a swift spread of cancer, coupled with a boom in the aged population in the state. Moreover, the Texas Teacher Retirement System (TRS), Department of State Health Services (DSHS), Employees Retirement System (ERS), and Department of Aging and Disability Services (DADS) account for approximately 83% of the annual healthcare expenditure, raising its affordability among the masses.

With the growing count of gastrointestinal and colorectal infection cases, the count of endoscopy procedures for treatment and diagnosis has been surging. The incidence of GI and benign disorders, along with colorectal problems, is on a significant rise. Similarly, disorders including biliary and pancreatic diseases are very much prevalent among the aged population. On account of efficacy and safety concerns, there is an inclination of patients and doctors toward the usage of endoscopes for the diagnosis of tumors.

Hence, a continuous increase in the prevalence of diseases, especially cancer, coupled with a growing geriatric population, will drive the market.