US Endoscope Service Market To Reach Value Of $925 Million By 2021
Growing Preference for Endoscope Service from OEMs Fueling Revenue Expansion,
According to Millennium Research Group
TORONTO, April 24, 2013
TORONTO, April 24, 2013 /PRNewswire/ --According to Millennium Research Group
(MRG), the global authority on medical technology market intelligence,
revenues for endoscope service will grow moderately in the United States
through 2021. Due to the capital budget constraints faced by many facilities
and the fragile nature of advanced endoscopes, it is generally more
cost-effective for facilities to have their endoscopes serviced rather than to
replace them completely with new systems.
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Original equipment manufacturers (OEMs) compete with third-party vendors for
endoscope service business. While third-party servicers have become
increasingly competitive, revenues generated by OEMs will continue to grow
slightly faster. Some of the strategic advantages for OEMs include the funding
to engage in national marketing efforts, having proprietary parts and offering
a wide breadth of service and payment programs.
Marketing campaigns from OEMs such as Olympus and Stryker highlight the
advantages of OEM endoscope repair and the potential risks of third-party
repairs. For example, OEMs have access to the exact parts and service manuals
for their endoscopes, which facilities value, particularly for new endoscopes.
OEMs are also able to negotiate service contracts when new endoscope purchases
are made; this is something that third-party vendors cannot do.
"Even though OEMs have generally dominated in this market, third-party vendors
have made a number of strides to better compete as well," said MRG Senior
Analyst Lexie Code. "In particular, acquisitions between third-party vendors
have given them wider service networks and larger budgets so that they can
compete with OEMs for high-value group purchasing organization (GPO) service
Overall, however, OEMs will continue to be the preferred endoscope service
companies in the US through 2021, and the expensive nature of repairs by these
companies will continue to fuel revenue expansion in the endoscope service
Free Webinar: OEMs vs Third Party Vendors in the US Endoscope Service Market:
MRG Senior Analyst Lexie Code handicaps this increasingly competitive market.
April 25, 2013
11 a.m. U.S. Eastern Time
Register for this webinar
Millennium Research Group's US Markets for Endoscope Service 2013 report
includes unit, average selling price and revenue information, along with
market drivers and limiters and a competitive landscape for more than 20 types
of flexible and rigid endoscopes serviced by OEMs and third-party companies in
the United States.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources Group company
(www.DecisionResourcesGroup.com), is the global authority on medical
technology market intelligence and the leading provider of strategic
information to the healthcare sector. The company provides specialized
industry expertise through multiclient market research, ongoing Marketrack™
projects, customer loyalty tracking, facility-level procedure forecasting, and
About Decision Resources Group
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best-in-class, high-value information, and insights on important sectors of
the healthcare industry. Clients rely on this analysis and data to make
informed decisions. Please visit Decision Resources Group at
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For more information, contact:
Christopher Comfort Alex Jablokow
Decision Resources Group Millennium Research Group
SOURCE Millennium Research Group
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