ENDOSCOPY SOLUTIONS PERFORMANCE
Last year’s comparative figures are stated in brackets.
Endoscopy Solutions sales for the quarter were up,
reflecting organic growth of 25% (3%) and reported
growth of 21% (9%), with revenue of DKK 748m (DKK
617m). Endoscopy Solutions accounted for 60% (55%)
of Ambu’s total revenue in Q1 2023/24.
bronchoscope. TPT was granted due to the solution’s
substantial clinical improvement, compared to existing
single-use and reusable bronchoscopy technology. It
takes effect as of 1 January 2024 and is expected to
remain active for 24-36 months.
With the new aScope™ 5 Uretero solution, Ambu
addresses a new type of urology procedure, including
new clinical and procedural needs, to serve all flexible
endoscopy needs in urology. The new ureteroscopy
solution is developed to meet urologists’ needs for
high-quality imaging and endoscope robustness and
manoeuvrability. In ureteroscopy, single-use endo-
scopy has already been partially adopted, and the
solution is expected to address a target market of 1m
annual procedures.
The satisfactory growth in Endoscopy Solutions was
mainly driven by Ambu’s pre-existing solutions in the
growing single-use market, combined with low
pulmonology comparables in Q1 last year.
With Ambu’s expanded and advanced pulmonology
offering and the strong pipeline, the company remains
confident about its ability to defend the position as
market leader, supporting future pulmonology growth.
Endoscopy Solutions excluding pulmonology
posted 34% organic growth, accounting for 47% of
Ambu’s total endoscopy revenue. The biggest growth
drivers were urology and ENT, which posted continued
high double-digit growth.
Gastroenterology (GI) sales continued growing and
were mainly driven by Ambu’s two gastroscope solu-
tions, aScope™ Gastro and aScope™ Gastro Large,
however GI still only accounts for a smaller part of the
Endoscopy Solutions segment. As GI is the largest
segment in the endoscopy field, Ambu is committed
to activating the great potential, however, within a
long-term growth perspective. Focus remains on
applying a stepwise expansion within high-need, niche
segments. In these efforts, attention is centred on
advancing the innovation setup by zooming in on
bringing new functionalities to customers by levera-
ging new technology. This will enable Ambu to deliver
innovative solutions and fuel long-term growth.
DRIVERS OF THE QUARTER
Pulmonology posted 18% organic for Q1, accounting
for 53% of Ambu’s total endoscopy revenue. Ambu’s
bronchoscopy portfolio was the biggest growth contri-
butor, while also VivaSight™ 2 DLT contributed positi-
vely, due to the global market re-launch in March 2023.
Ear-nose-throat (ENT) and urology continued their
double-digit organic growth trajectory, due to an
increased pace of order uptakes and penetration of
new customers, especially in North America and
Europe. Otolaryngologists and urologists value the
workflow efficiencies brought forth by Ambu’s single-
use solutions, which supports the continued
Moreover, the strong growth in pulmonology was
driven by post-Covid-19 market normalisation, as well
as low comparables from last year’s quarter. However,
due to a less impactful flu season, compared to Q1 last
year, pulmonology was simultaneously negatively
impacted, although the flu season this quarter overall
reached a level above a five-year average.
conversion towards single-use in the two segments.
During the quarter, Ambu strengthened its urology
offering by obtaining CE mark of two new solutions,
the aScope™ 5 Cysto HD and the aScope™ 5 Uretero,
with the full-HD endoscopy system. The new HD
cystoscope is designed for cystoscopy procedures that
require superior imaging, e.g., in bladder cancer
centres, and will thus complement the aScope™ 4
Cysto solution, which targets a wide range of standard
cystoscopy procedures across outpatient clinics and
hospitals. The new HD cystoscopy solution thereby
expands Ambu’s cystoscopy target market to 6m (from
3.6m) annual procedures.
The aScope™ 5 Broncho HD solution continues to
progress gradually, in line with previous new-segment
launches. The bronchoscopy suite represents a new
customer group for Ambu, and feedback continues to
be positive, resounding the aScope™ 5 Broncho’s
excellent performance, compared to reusable
bronchoscopes. Furthermore, in Q1, the Center for
Medicare & Medicaid Services (CMS) granted the
aScope 5 Broncho HD a transitional pass-through
(TPT) payment. TPT status enables incremental
reimbursement payments for outpatient procedures
performed with Ambu’s high-performance single-use
Endoscopy Solutions
organic revenue growth
25%
in Q1 2023/24
6
Company announcement no. 7 2023/24
|
30 January 2024
