Market Challenges: High cost of endoscopy procedures

The high cost of endoscopy procedures can hamper the global healthcare reimbursement market growth. Endoscopy procedures such as colonoscopies and upper gastrointestinal endoscopies are expensive diagnostics and treatment procedures that involve the use of advanced medical equipment and highly skilled healthcare professionals. For instance, according to the Centers for Disease Control and Prevention (CDC), the average cost of a colonoscopy without insurance in the U.S. is around US$ 1,000-US$ 1,500. An upper endoscopy procedure costs around US$ 800- US$ 1,200 on average without insurance. This high out-of-pocket cost of such specialized procedures poses a significant financial burden for many patients. Thus, many people tend to avoid or delay such medically important procedures. The high cost also puts pressure on the healthcare reimbursement programs and insurance providers. Reimbursing the full costs of many endoscopy claims erodes their profits. This makes it difficult for the private players and public insurers to scale up the healthcare coverage in a sustainable way.

Market Opportunities: Growing demand for mobile endoscopy drying cabinets

Growing demand for endoscopy procedures around the world leads to increased need for efficient cleaning and drying solutions. As healthcare systems strive to address more patients amid resource constraints, there is opportunity to optimize workflows and throughput with new cabinet technologies. Mobile endoscope drying cabinets specifically could help ease bottlenecks by streamlining reprocessing steps. These cabinets provide a contained, regulated environment to safely and effectively dry heat-sensitive endoscopes, helping minimize risks of contamination compared to air drying alone. With automatic controls and performance tracking, these reduce technician hands-on time per scope. This allows for higher productivity and capacity gains within endoscopy reprocessing areas. Some advanced models even integrate Scoped technology to automate record-keeping per medical device.