Number of pages: 100 | Report Format: PDF | Published date: October 14, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
The global endoscopic ultrasound market was pegged at US$ 0.89 billion in 2021 and is expected to witness a CAGR of 6.16% during the forecast period.
A minimally invasive endoscopic ultrasound (EUS) is used to diagnose conditions affecting such as gastrointestinal systems, cancer situations, and other surrounding organs and tissues. Endoscopic ultrasonography generates pictures using sound waves and a thin, flexible tube (endoscope) placed into the digestive tract. The complete treatment typically lasts between 30 and 90 minutes, reducing hospital stay. EUS enables physicians to check organs and other systems that are not visible during regular endoscopic treatments, which many other diagnostic tests cannot achieve. The ultrasound machine may produce more accurate and detailed images because it is placed closer to the organs within your body.
One of the major drivers expanding the growth of the global endoscopic ultrasound market is the steadily expanding prevalence of many chronic diseases, such as gastrointestinal diseases and cancer, and the increasing adoption of advanced diagnostic practices. In the future, the market is anticipated to proliferate with the introduction of highly advanced and modernized techniques, such as EUS-guided fine-needle aspiration (EUS-FNAC). The main limitation of EUS is its inability to differentiate between benign and malignant tissues, leading to overstating due to peritumoral inflammation.
The global endoscopic ultrasound market has been analyzed from four perspectives: product, applications, end-user, and region.
Endoscopic Ultrasound Market by Product
According to the product segment, the global endoscopic ultrasound market has been grouped into endoscopes, ultrasound probes, ultrasonic processors, imaging systems, accessories, and needles. The endoscopes segment is further classified into radial endoscopes, and linear endoscopes. The endoscopes segment has dominated the global endoscopic ultrasound market. Factors contributing to this growth include reduced procedural risk, and low cost against full surgical operation would put on the body. Other segments, such as linear endoscopes, are also expected to show high growth in the forecast period, including many new innovations in brachytherapy/chemotherapy, alcohol ablation of incurable pancreatic tumors, and EUS-guided endoscopic surgery were all possible with linear endoscopes.
Endoscopic Ultrasound Market by Application
According to applications, the global endoscopic ultrasound market is classified into oncology, pancreatic conditions, and others. The oncology segment has the majority of the market share. As cancer prevalence increases, the need for an effective diagnosis system increases. The EUS, in this case, can help diagnose the tumor closely, which will give a better understanding of the characteristics of the lesion. Researchers these days are also using endoscopic ultrasound to detect traits of tumors, which will eventually result in novel drug development. The use of EUS is also seen in other segments, such as pancreatic conditions. Endoscopic ultrasonography (EUS) is a highly sensitive and precise method for identifying and staging pancreatic cancer. The pancreas can be reached with unmatched ease with the accurate placement of the echoendoscope transducer inside the duodenum or stomach.
Endoscopic Ultrasound Market by region
The global endoscopic ultrasound market is studied in four major regions North America, Europe, Asia Pacific, and the Rest of the world. The North American region has the majority of revenue share. This growth is contributed by factors such as advanced healthcare systems, increased technological advances, and the increased introduction of advanced products in the market. The European region is increasing by factors such as the prevalence of gastrointestinal diseases and the presence of favorable reimbursement activities. Additionally, a multitude of research is leading to new technological advancements. The Asia Pacific region for the endoscopic ultrasound market is expected to witness high growth in the projected period. The factors owing to this growth are the high prevalence of gastrointestinal diseases and increased diagnosis practices. Furthermore, the rapid adoption of EUS systems in hospitals will increase market growth.
Some prominent players operating in the global endoscopic ultrasound are
One of the major factors driving the expansion of this endoscopic ultrasound market is the steadily expanding prevalence of chronic diseases worldwide and the increasing adoption of advanced diagnostics practices.
Some prominent players in the global endoscopic ultrasound market by region are Incyte Corporation, Astellas Pharma Inc., Baxter International Inc., Dr. Reddy’s Laboratories Ltd., Pfizer Inc., Sanofi SA, Teva Pharmaceutical Industries, GlaxoSmithKline Plc, F Hoffman La Roche AG, and Eli Lilly and Company, among others.
The North American region has the majority of shares. This growth is contributed by factors such as advanced healthcare systems, increased technological advances, and increased introduction of advanced products in the market.
*Insights on financial performance is subject to availability of information in public domain