Endoscope Repair Market Overview
Endoscopes make up a large sub-segment of the medical device industry. Additionally, the market forecasts them grow at a faster rate relative to other devices in the repair market. Repairs and replacements for endoscope parts can cost up to $12,000, which is why the medical field should be aptly aware of this medical device technology. Let’s dive into the typical prices for endoscope repair, market demand, and more.
Market Statistics & Categories
There are two categories of endoscope products: flexible scopes and rigid scopes. Flexible scopes can cost upwards of $30,000 and last for a range of 4-7 years. On the other hand, rigid scopes are much cheaper with an upward price of $5,000, but they typically last 3-5 years. Doctors use both endoscopes for different procedures. However, all types of endoscopies mainly take place in hospitals. These scopes can have additional components such as video monitors and light sources, with each of these pieces capable of becoming damaged. Not only do workers have to worry about the quality of the scopes themselves, but also the scopes’ attachments.
The introduction of disposable endoscopes is disrupting the industry because of the price per unit disparities. There is a shift of demand to more disposable options. This is because it eliminates costly repairs of traditional endoscopes. Warranties don’t cover the normal “wear and tear” of traditional endoscopes, causing this increase in demand for disposable products. The cheapest endoscope repair still costs $500, and repairs can range from simply replacing the flexible rubber tip to fixing monitor damage. Disposable products help remove the wait times for endoscopes to be fixed. The repair process can be anywhere from two days to two weeks. When a product is out of commission, that is lost commission for the hospital or entity who owns it.
Overall, the endoscope market will continue to grow. This is due to factors like an aging population and increased diagnostic procedures. The market predicts rigid endoscopes to become one of the fastest growing procedures. On the other hand, disposable endoscopes could become a big player in this market. With the help of CSAT, OEMs and ISOs in the endoscope repair market can take advantage of making their companies cost effective in competing with disposable endoscopes. Learn more about CSAT’s medical device repair capabilities and how we are bringing innovation and efficiency to the table.