Following the successful licensing of disposable cystoscopes to Boston Scientific, a global exclusive distributor, MiiS has recently been actively expanding its distribution network for disposable nasopharyngoscopes. This disposable nasopharyngoscope marks the company's first proprietary brand endoscope product. Currently, MiiS has granted exclusive sales rights to JEDMED, one of the top three ENT distributors in the United States. The product has been introduced for clinical trials in multiple hospitals, aiming to increase exposure and brand recognition through exhibitions.
It is estimated that 75 million endoscopic procedures are performed annually in the United States, with the highest demand in the respiratory and thoracic fields within the disposable endoscope market. Among them, nasopharyngoscopes are the most frequently used, followed by urology and gastroenterology. According to a report by Precedence Research, the global disposable endoscope market is projected to grow from $1.98 billion in 2021 to $10.4 billion by 2030, with a compound annual growth rate of 20.3%.
MiiS and JEDMED are planning to participate in the annual meetings of the American Academy of Audiology (AAA) and the American Academy of Otolaryngology-Head and Neck Surgery (AAO-HNS). Chris Swift, CEO of JEDMED, expressed excitement about showcasing their advanced disposable nasopharyngoscope at the AAA and AAO-HNS conferences. He stated, "Our goal is not only to provide the equipment needed by ENT specialists but also to offer the best clinical care experience for patients."
Chairman Chu-ming Cheng acknowledged that revenue may be affected in recent months due to ongoing clinical confirmation before customers go public and the transitional period of the company's product lineup. However, he emphasized that MiiS has always been an innovator in medical product development. In addition to promoting its proprietary brand of disposable nasopharyngoscopes, MiiS also provides contract development and manufacturing services (CDMO). Now, by integrating products from its subsidiary, it can offer comprehensive services to customers and generate more growth momentum.
