Endoscopic Ultrasound Market (By Product: Needle, Endoscope; By Application: Gastrointestinal Cancer, Lung Cancer; By End-use: ASCs, Hospitals) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2024-2033

The global endoscopic ultrasound market was estimated at USD 1.48 billion in 2022 and it is expected to surpass around USD 2.84 billion by 2033, poised to grow at a CAGR of 6.75% from 2024 to 2033. 

Key Pointers

• North America dominated the global market with the largest share of 31% in 2023.
• Asia Pacific is expected to grow at the highest CAGR of 7.66% from 2024 to 2033.
• By Product, the endoscope segment held the largest revenue share of 34% in 2023.
• By Product, the needle segment is expected to expand at the highest CAGR of 8.05% from 2024 to 2033.
• By Application, the lung cancer segment generated the maximum market share of 43% in 2023.
• By End-use, the hospital segment held the largest share of 40% in 2023.
• By End-use, the ambulatory surgical centers segment is expected to grow at the highest CAGR of 7.22% during forecast period.

Report Scope of the Endoscopic Ultrasound Market

The market is experiencing growth driven by multiple factors, including the increasing incidence of gastrointestinal cancer, advancements in technology, and a rising prevalence of pancreaticobiliary malignancies. For instance, the American Cancer Society's projections for 2023 indicate approximately 64,050 new cases of pancreatic cancer in the U.S., with an anticipated 50,550 deaths attributed to pancreatic cancer. Globally, lung cancer remains a leading cause of cancer-related fatalities, as highlighted by the Lung Cancer Research Foundation, which estimates that 1 in 16 individuals will be diagnosed with lung cancer during their lifetime.

In March 2023, Cancer.Net reported approximately 238,340 new cases of lung cancer diagnosed in the U.S., with a global total of 2,206,771 cases in 2020. Colorectal cancer (CRC) ranks as the second-leading cause of cancer-related deaths worldwide. The American Cancer Society projects nearly 153,020 new CRC cases and 52,550 deaths in the U.S. in 2023, underscoring its significant impact. These statistics provide insights into the potential market growth during the forecast period.

Furthermore, increased investment in research and development within the field of endoscopic ultrasound is poised to drive market expansion. A noteworthy development, as highlighted in a June 2023 article from the National Institutes of Health, involves the integration of white light and ultrasound imaging into a secure capsule, known as ultrasound capsule endoscopy (USCE). This innovation, designed for superficial and submucosal imaging of the esophagus, represents a notable advancement.

Additionally, various devices for interventional endoscopic ultrasound, such as puncture needles, guidewires, tract dilation devices, stents, and troubleshooting devices, have been developed. The American Society for Gastrointestinal Endoscopy emphasizes these advancements. Key companies are contributing to market growth through increased research and development activities, exemplified by the introduction of the Olympus EU-ME3 endoscopic ultrasound processor platform in October 2022. This platform enhances diagnostics for conditions like pancreatitis, pancreatic cancer, and facilitates the detection of invasion in stomach and esophageal cancers.

Product Insights

The endoscope segment dominated the market with the highest revenue share of 34% in 2023. This dominance can be attributed to factors, such as an increasing number of echo-endoscopy procedures, an increase in awareness about the benefits of early detection of diseases, and advancement in endoscope technology. For instance, in May 2023, Olympus Corp. announced the FDA clearance of the EVIS X1 endoscopy system, with two compatible gastrointestinal endoscopes i.e., GIF-1100 gastrointestinal videoscope and CF-HQ1100DL/I colonovideoscope. Medical professionals use Olympus GI endoscopy devices to aid in the diagnosis, treatment, and observation of diseases and disorders of the upper and lower GI tract, including acid reflux, ulcers, Crohn's disease, Celiac disease, and colon cancer.

An endoscope is often utilized for screening colonoscopies, in which a doctor examines the lining of the colon and removes any polyps that could potentially be malignant growths. Physicians may find it easier to see anomalies with the inclusion of modern imaging technologies. The needle segment is expected to grow at the highest CAGR of 8.05% from 2023 to 2032. The needle is commonly used to obtain tissue samples from various organs and lesions within the gastrointestinal tract, such as the pancreas, liver, lymph nodes, and gastrointestinal wall. Also, the fine-needle aspiration of lymph nodes and adjacent structures helps in staging tumors accurately. In addition, the rising prevalence of gastrointestinal diseases is expected to propel the market growth. For instance, as per the American Cancer Society Journal, in January 2023, about 21,560 new cases were estimated for esophagus cancer in the U.S., and 26,500 cases were estimated for stomach cancer.

Application Insights

On the basis of application, the lung cancer segment dominated the market with a share of 43% in 2023. The rising prevalence of lung cancer is the major factor propelling the market growth. As per the American Cancer Society, about 21,560 new cases of lung cancer will be diagnosed in the U.S. in 2023.  Lung cancer can be caused by several factors, such as tobacco smoking, previous radiation therapy, and exposure to radon gases. According to statistics published by the Center for Disease Control and Prevention in May 2023, about 28.3 million adults in the U.S. smoke cigarettes, about 3.08 million middle and secondary school students in the U.S. use at minimum one tobacco product, including e-cigarettes, an estimated 1,600 U.S. youth smoke their first cigarette every day.

Nearly 500,000 Americans die prematurely each year as a result of smoking or being exposed to secondhand smoke. Another 16 million people suffer from a severe illness brought on by smoking. The U.S. spends about USD 225 billion annually on medical treatment to treat diseases brought on by adult smoking. The gastrointestinal cancer segment is expected to grow at the highest CAGRof 7.6% from 2024 to 2033. The rising prevalence of gastrointestinal cancer is expected to boost market growth. GI tract cancer includes anal cancer, bile duct cancer, colon cancer, esophageal cancer, gallbladder cancer, liver cancer, rectal cancer, gastrointestinal stromal cancer, small intestine cancer, and stomach cancer.

For instance, as per the American Cancer Society Journal published in January 2023, about 348,840 new cases will be estimated for digestive system cancer in the U.S. in 2023.Every year, 1.5% of all new cancer cases in the U.S. are diagnosed as stomach cancer. Usually, older people of average age 68 years and above get diagnosed with stomach cancer. Each year, 6 out of 10 instances of stomach cancer are diagnosed in patients aged 65 years or older. Men are at higher risk of developing stomach cancer (approximately 1 in 96) than women (about 1 in 152).

End-use Insights

The hospital segment held the largest share of 40% in 2023. This growth can be attributed to the favorable health reimbursement for minimally invasive processes, developed and advanced healthcare infrastructure, and an increase in the number of trained and qualified endoscopists. For instance, as per the American Hospital Association, in May 2023, there were a total of 6129 hospitals present in the U.S. Moreover, the rising geriatric population is expected to boost the hospital segment growth as most hospitalizations in the United States are related to people aged 65 years and over.

The ambulatory surgical centers segment is expected to grow at the highest CAGR of 7.22% from 2024 to 2033. The increasing prevalence of gastrointestinal diseases, such as esophageal cancer, gastric (stomach) cancer, colorectal cancer, liver cancer, and pancreaticobiliary diseases, such as gallbladder disease, pancreas disease, and bile duct disease, is expected to boost segment growth. For instance, as per the Cancer.Net, about 26,500 new cases of stomach cancer will be diagnosed in the U.S. In addition, ASCs provide a more convenient and comfortable environment for patients, which can lead to higher patient satisfaction and increased demand for EUS procedures.

Regional Insights

North America dominated the global market with the largest share of 31% in 2023. Increasing investment in R&D by the government & key companies present in the region, well-developed healthcare infrastructure, and technological development in endoscopic ultrasound in North America contribute to its growth. For instance, in July 2023, Cook Medical launched the high-resolution ultrasound biopsy needle i.e., EchoTip ProCore, which allows clinicians to collect larger tissue samples from the inaccessible region using minimally invasive endoscopic ultrasound procedures.

Asia Pacific is expected to grow at the highest CAGR of 7.66% from 2024 to 2033. Increasing awareness among people about the early detection of diseases and rising instances of CRC in the Asia Pacific region is expected to boost demand for endoscopic ultrasound in this region. In addition, the rising geriatric population is boosting the demand for endoscopic ultrasound in Asia Pacific. For instance, as per the NIH, in August 2022, the Asia Pacific region had the largest number of CRC cases and the highest rate of mortality.

Endoscopic Ultrasound Market Key Companies 

• Boston Scientific Corporation
• Medtronic
• ConMed
• Olympus Corporation
• Steris
• SonoScape Medical Corp.
• PENTEX Medical
• FUJIFILM India Private Limited
• Cook Medical

Endoscopic Ultrasound Market Report Segmentations:

By Product

• Endoscope
• Ultrasound Probe
• Needle
• Accessories
• Ultrasonic Processors

By Application

• Gastrointestinal Cancer
• Lung Cancer
• Pancreaticobiliary Disease
• Others

By End-use

• Hospitals
• Ambulatory Surgical Centers
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa (MEA)