Let's face it, nobody is getting younger and the population growth continues its rise. Adding to the population growth is that the average life expectancy continues to rise. In 2018 it was reported on census.gov that older people were projected to outnumber children for the first time in U.S. history. By 2030, it's reported that all baby boomers will be over age 65 expanding the older population so that one in every 5 residents will be of retirement age. By 2034 there will be 77 million people over age 65 verses 76.7 million under the age of 18.

So you ask, why does that matter with regards to AERs (Automatic Endoscope reprocessors)? Well not only does the number of people in the world increase the global endoscopic procedure market size but it's affected even further due to the fact that the elderly are more likely to need endoscopic procedures increasing the market growth even further. So as the balance of geriatrics to those under 65 continues to increase so does the endoscopic procedure market. The AER market is obviously related to the endoscopic procedure market and growth of both is not only correlated to the actual number of people in the world but many other factors all accelerating it tremendously.

Another factor that is driving both markets is that minimally evasive diagnosis and surgeries are on the rise. Procedures such as proctoscopy, cystoscopy and gastroscopy require smaller incisions thereby decreasing the risk of complications compared to alternative procedures. The lower risk and a quicker recovery puts patient's minds at ease and are more likely to have the surgeries bettering their quality of life and raising the life expectancy of geriatrics even further. All of this will continue to drive the global demand for endoscopic related instruments and the machines that keep them serviced, disinfected and running properly.

All this to share that In 2019 the global endoscope market was valued at 10.4 billion. It's also estimated to have a CAGR (Compound Annual Growth Rate) of 8.8 percent through 2027. This market is on fire and seems to be gaining steam. With this in mind, Med Service Repair is an excellent source for refurbished AER machines and the products to maintain them.