The medical device industry of the U.S. is witnessing significant growth, due to the constant focus of medical device manufacturers on offering novel technologies to the people. For example, a video capsule endoscopy (VCE) system, a contemporary endoscope technology, and a powerful diagnostic tool for gastrointestinal (GI) diseases can visualize the colon, stomach, esophagus, and proximal small bowel, and offer functional information. Thus, the expanding medical device industry is creating a huge requirement for endoscope repair services in the U.S.
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Moreover, the rising preference for minimally invasive surgical procedures, owing to the minimum infection risks associated with them, will also help the U.S. endoscope repair market demonstrate a CAGR of 9.3% during 2020–2030. The market was valued at $248.6 million in 2020 and it is expected to generate $603.6 million revenue by 2030. The surging shift of the U.S. populace toward minimally surgeries can be owed to the increasing prevalence of GI diseases, such as gastroesophageal reflux disease (GERD) and abnormal throat, which require endoscopes for their diagnosis.
Currently, these companies are focusing on acquisitions and partnerships to serve a larger number of patients. For example, Agiliti Inc. completed the acquisition of Zetta Medical Technologies LLC, a Switzerland-based medical equipment services and parts providing company, in July 2019. With this acquisition, Agiliti Inc. expanded into the full-service clinical engineering field for advanced imaging devices. Similarly, in February 2020, Mobile Instrument Service & Repair Inc. was acquired by Agiliti Inc. The former specializes in servicing powered surgical equipment, rolling stock sterilizers, general and laparoscopic handheld instruments, and flexible and rigid endoscopes.
Therefore, the flourishing medical device sector, escalating public awareness on minimally invasive surgeries, and surging adoption of comprehensive servicing contracts are expected to augment the requirement for endoscope repair services in the U.S.
