Endoscopy ultrasound market is projected to expand substantially at a CAGR of 5.7% during the forecast period.
Endoscopy Ultrasound Market Is Expected To Grow At A CAGR Of 5.7% During The Forecast Period, Reaching A Value Of Nearly US$ 1.85 Billion In 2032.
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Endoscopy ultrasound market is projected to expand substantially at a CAGR of 5.7% during the forecast period (2020-2026). Advancement in technology and increasing awareness are also important growth drivers. Endoscopy ultrasound procedures cost much lesser than other techniques such as Endoscopic Retrograde Cholangiopancreatography (ERCP). On the back of these factors, the global.
Endoscopic Ultrasound (EUS) is a type of minimally invasive endoscopic procedure performed by healthcare specialists to diagnose gastrointestinal and lung diseases. Increase in incidences of gastrointestinal cancer has necessitated growing adoption of endoscopy ultrasound procedures.
High success rates of EUS is generally attributed as a key factor behind its increasing preference. The current COVID-19 pandemic is however ingraining caution in healthcare workers to cut down on elective procedures in order to reduce risk of transmission.
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Endoscopes to Enjoy Lion’s Share, Needles to Expand Substantially
The endoscopes segments shall dominate the global endoscopy ultrasound market throughout the forecast period. This is attributed to the introduction of key innovations in endoscopy, such as transducers and enhanced cameras which increase the efficiency of diagnostic procedures. The endoscopes segment is projected to expand positively at a CAGR of 5.8%, capturing over one-third of the global endoscopy ultrasound market.
The needles segment is poised to expand the fastest amongst all endoscopic products, due to their comparatively lower price and single-use feature. The demand for endoscopic needles has burgeoned especially in aspiration and biopsy procedures. The endoscopic needles segment is anticipated to expand 1.5x, capturing nearly a quarter of the global endoscopy ultrasound market.
North America Retains Hegemony, Asia-Pacific Set to Grow Rapidly in the Forecast Period
The North-American endoscopy ultrasound market shall remain the kingpin. Higher demand for more advanced diagnostic procedures, along with growing prevalence of gastrointestinal cancers are increasing the number of patients being diagnosed by EUS techniques. This is anticipated to increase adoption of EUS products. The North-American market is projected to expand positively at a CAGR of 5.8% during the forecast period, capturing over two-fifth of the market share.
Asia-Pacific is poised to expand the fastest, at a CAGR of 6.4% throughout the forecast period. A large patient pool with gastrointestinal and pancreatic cancers as well as increasing penetration of EUS techniques in hospitals and other healthcare settings are anticipated to drive demand in the Asia-Pacific market. Approximately two-fifths of the global endoscopy ultrasound market shall be held by the Asia-Pacific region.
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Global Endoscopy Ultrasound Market Segmentation
Fact.MR has studied the global endoscopy ultrasound market with detailed segmentation on the basis of product, procedure, technology, application, end-user and region.
- By Product :
- Endoscope
- Ultrasound Probe
- Ultrasonic Processor
- Imaging Systems
- Needles
- Accessories
- By Procedure :
- Upper EUS
- Lower EUS
- EUS Guided Fine-needle Aspiration
- Others
- By Technology :
- Radial Scanning
- Linear Scanning
- By Application :
- Oncology
- Upper GI Oncology
- Lower GI Oncology
- Pancreatic Conditions
- Others
- By End-user :
- Hospitals
- Specialty Clinics
- Ambulatory Surgery Centers
- Diagnostic Centers
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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About Healthcare Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned healthcare team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the healthcare industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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