The global endoscopy ultrasound market is expected to grow at a CAGR of 5.5% during forecast period 2021 – 2027 and to reach valuation USD 1.3 bn by the end of 2027.
Endoscopy ultrasound (EUS) is a minimally invasive technique used by surgeons and physicians to diagnose and treat various conditions of the gastrointestinal tract, including gastrointestinal cancers, pancreatic conditions, and others. Increase in prevalence of gastric cancers, including upper and lower GI cancers and higher accuracy and specificity of endoscopy ultrasound techniques for the diagnosis of these conditions are some of the major factors propelling the global endoscopy ultrasound market.
The endoscopy ultrasound market report comprises an elaborate executive summary, which includes a market snapshot that provides information about various segments of the market. It also provides information and data analysis of the global market with respect to the segments based on product, application, procedure, technology, end-user, and geography. A detailed qualitative analysis of drivers and restraints of the market and opportunities has been provided in the market overview section. In addition, the section comprises a competitive matrix and company profiles with business overview to understand the competitive landscape in the market. This section of the report also provides market attractiveness analysis, by geography and market share analysis, by key players, thus presenting a thorough analysis of the overall competitive scenario in the global endoscopy ultrasound market.
The drive for endoscopy ultrasound market gathered a marked momentum in recent years from the clinical role of endoscopy in therapeutic procedures. The diagnostic capabilities have also advanced on the back of advancement in imaging modalities. Key manufacturers in the endoscopy ultrasound market have harnessed these advancements to meet the clinical demand for identifying pancreaticobiliary malignancies, and other benign pancreatic disorders.
The use of fine needle biopsies in cancer management is one of the key trend bolstering growth of the endoscopy ultrasound market. The increasing incidence of gastrointestinal cancers and the growing awareness about their morbidity in patient populations have led to unlocking new demand dynamic in developing and developed regions.
Endoscopy ultrasound methods are being used in territories separated from oncology, and interest for new endoscopy ultrasound procedures, for example, elastography and differentiate improved endoscopy ultrasound (CE-EUS) is on the ascent. This is fuelling interest for new and propelled items in the worldwide market. These elements are additionally anticipated to support the market from 2021 to 2027. The Centers for Disease Control and Prevention (CDC), National Institutes of Health (NIH), and different offices have set down exacting arrangements for the preparation and instruction of gifted experts performing endoscopy ultrasound methods. In any case, absence of talented experts in the part and absence of preparing and training programs in rising nations are anticipated to be major limiting components of the worldwide endoscopy ultrasound market in the coming years.
Growing Awareness of Morbidity of Tumors Spurs Demand in All Clinical Settings
The demand for technologies for optimal targeting and diagnosis in tumors has spurred demand for new endoscopy technologies in the endoscopy ultrasound market. Continuous strides have been made by medical device makers to meet the objectives of higher precision in the characterization and staging. These are boosting the application of the modalities in both therapeutic as well as diagnostic applications.
In recent years, the endoscopy ultrasound market has gained sizable revenues on account of the uptake in EUS-FNA procedures. In addition, elastography procedures have also risen in popularity. The demand for endoscopy in such procedures is underpinned by the growing popularity of minimally invasive procedures.
Some of the well-entrenched industry stakeholders in the endoscopy ultrasound market include names such as ACE Medical Devices, Olympus Corporation, Medtronic PLC, CONMED Corporation, Medi-Globe GmbH, and Boston Scientific Corporation.
Continuous Microscopy Advancements Drive Endoscopy Ultrasound Market
Massive microscopy advancements have been key characteristic of new launches in the global endoscopy ultrasound market, especially of lucrative regional markets. One of these is North America which is expected to hold the major share in the endoscopy ultrasound market. The trend in uptake of various endoscopy ultrasound modalities is in account of the clinical significance of endoscopy in the treatment of diseases related to gastroenterology, oncology, and pulmonology. Moreover, the regional market is thronged by the presence of several top players over the past few years.
Asia Pacific Holds Vast Latent Opportunities
On the other side of the spectrum are the regions that will be key to rise in revenues. One of these is Asia Pacific. The regional market is expected to rise at promising pace through 2027.
Rising geriatric population has been spurring the demand for technologies requirement for advancing the therapeutic and diagnostic capabilities of devices used in radiology and in hospital setting. This has also spurred demand for better endoscopy ultrasound in improving characterization of lesions for the management of a wide range of chronic conditions. Countries such as India have seen the rise of endoscopy ultrasound in the management of cancer, including its characterization and staging among the regional population. This has expanded the horizon of the endoscopy ultrasound market.
North America represented a prevailing portion of the worldwide endoscopy ultrasound market in 2020. More popularity for cutting edge indicative methods in oncology, accessibility of new and propelled items in the U.S., and increment in rate of gastric tumors were a portion of the central point prompting the expanded appropriation of endoscopy ultrasound procedures in the market in North America 2020. The appropriation of EUS methods is consistently picking up pace in Asia Pacific, inferable from the usage of legitimate preparing and instructive projects for specialists and ascend in inclination of social insurance suppliers for negligibly intrusive EUS procedures in the analysis and treatment of gastrointestinal conditions.
The endoscopy ultrasound market is segmented based on:
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