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The global endoscope drying cabinets market size was USD 227.73 million in 2023, calculated at USD 250.20 million in 2024 and is expected to reach around USD 565.70 million by 2034, expanding at a CAGR of 8.5% from 2024 to 2034.
The global endoscope drying cabinets market size accounted for USD 250.20 million in 2024 and is expected to reach around USD 565.70 million by 2034, expanding at a CAGR of 8.5% from 2024 to 2034. The North America endoscope drying cabinets market size reached USD 91.09 million in 2023.
The U.S. endoscope drying cabinets market size was estimated at USD 63.89 million in 2023 and is predicted to be worth around USD 162.10 million by 2034, at a CAGR of 8.7% from 2024 to 2034.
In 2023, North America emerged as the front-runner in the global endoscope drying cabinets market as well as estimated to maintain its dominance over the forecast timeframe. This is mainly accounted to the growing incidence of cancer, favorable reimbursement policies by the government of the U.S., rising research activities in order to enhance the endoscopy procedures and devices, increasing investments by hospitals for obtaining new endoscopic equipment, along with the implementation of a novel funding model for Canadian hospitals.
On the other hand, the Asia Pacific expected to register the fastest growth rate over the analysis time period owing to large number of developing and under developed nations present in this region, for example India and china. Moreover, increasing patient population related to gastrointestinal and cancer diseases most prominently in the developing countries are estimated to surge the demand for endoscopes and subsequently endoscope drying cabinets in the region.
Advancements in the imaging technology are the key factor that drives the market for endoscope drying cabinets. For instance, integration of big data and data mining helps the radiologists to get real time data that in turn further assists them to diagnose or detect a problem in real time. Furthermore, rising cases of cancer, infectious diseases, and many other diseases are the other most prominent factor that estimated to propel the market demand for endoscope drying cabinets in the forthcoming years. As per the press release of World Health Organization (WHO), the caner burden has risen to 18.1 Million new cases along with 9.6 Million deaths from cancer in the year 2018.
In addition to this, explosion in the prevalence of age-related problems coupled with rise in demand for endoscopy devices for diagnostic & therapeutic procedures is the other most important factor that impels the market growth. Usage of such devices in the treatment and diagnosis of health problems is essential as it allows marginal intervention that further results in shorter time of recovery.
Geriatric population is the most common group prone to medical problems that need endoscopic procedures such as endometriosis, pelvic abscess, gall stones, intestinal perforation, and liver abscess. According to a research study conducted by the Population Reference Bureau, in 2018, there were around 52 Million people lying under the age group of 65 years or above in the United States as well as projected to cross the number of 95 Million by the end of 2060. The above mentioned factors projected to boost the need for endoscopic procedures that in turn escalates the demand for endoscope drying cabinets during the forecast timeframe.
Increasing researches related to drug development and cancer treatment & diagnosis along with increasing collaboration between biopharmaceuticals companies and research organizations for the same are likely to be conducive towards the market growth over the forecast timeframe. However, increasing cases of contamination coupled with high cost of endoscope drying cabinets act as a major factor that restricts the market growth.
| Report Highlights | Details |
| Market Size in 2023 | USD 227.73 million |
| Market Size in 2024 | USD 250.20 million |
| Market Size in 2034 | USD 565.70 million |
| Growth Rate from 2024 to 2034 | CAGR of 8.5% |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2023 |
| Forecast Period | 2024 to 2034 |
| Segments Covered | Product, Size, End User, Region |
| Regions Covered | North America, Asia Pacific, Europe, Latin America, Middle East and Africa |
Multiple Door Cabinet are expected to prosper the market growth owing to increasing cases of obesity and chronic disease across the globe that has consequently surged the frequency of endoscopy procedures over the past few decades.
Large hospitals and ambulatory centers diagnose large number of cancer cases and other disease diagnosis procedures on daily basis that is the other major factor that impels the market growth for multiple door cabinets in the coming years.
Hospitals segment examined to capture the largest end-user market share in the year 2023 because it is the primary health center in many countries. Furthermore, the total number of endoscopic surgeries that takes place at hospitals is higher compared to other healthcare systems that include Ambulatory Surgical Centers (ASCs) or specialty clinics. Subsequently, the demand of endoscopy devices at hospitals is higher compared to other end-use segments, thereby propelling the growth of endoscope drying cabinets in the segment.
Furthermore, the segment predicted to retain its dominating position in the upcoming years because of rising investment from governments of various regions for the upgradation and development of hospitals. This subsequently analyzed to uplift the demand for endoscope drying cabinets over the coming years.
Segments Covered in the Report
By Product
By Size
By End-User
By Regional Outlook
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