Scivita Medical Technology, a minimally invasive diagnosis and treatment company, has officially signed a strategic agreement with Boston Scientific for its single-use percutaneous choledochoscope. Through the business cooperation and distribution agreement, the companies said they plan to establish a long-term partnership in the commercialization, marketing, and promotion of the single-use videoscope in China. As part of its range of reusable, single-use videoscopes, and related systems and equipment, the partnership with Boston Scientific will broaden Scivita’s single-use percutaneous choledochoscope global market penetration while also increasing use in more hospitals and patients in China.
The global market value of single-use videoscopes, like the single-use percutaneous choledochoscope, was reported as USD $500 million in 2020 and is expected to grow to USD $9.2 billion by 2030, according to Frost & Sullivan. Demand for the equipment as grown over the last few years, especially as the world battled the initial outbreak of COVID-19. Additionally, an ongoing need to mitigate risks of cross-contamination and hospital-acquired disease has also heightened the demand.
As a whole, Scivita’s single-use videoscopes cover multiple clinical departments at high risk of cross-infection, including gynecology, respiratory, urological surgery, and hepatobiliary surgery. As many of its products are already approved in China, the United States, the European Union, and Japan, among other countries and regions, its partnership with Boston Scientific will further accelerate its commercialization globally.