The Global Endoscopy Ultrasound Market is expected to gain momentum from the ever grossing demand for advanced endoscopy ultrasound devices. According to a report by Fortune Business Insights, titled “Endoscopy Ultrasound Market Size, Share and Global Trend by Product (Endoscope, Ultrasound probe, Ultrasonic processor, Imaging system, Needles, Accessories), by Application (Oncology, Gastroenterology, Urology, Gynecology, Others), by End User (Hospitals, Ambulatory Surgical Centers, Diagnostic Centers), and Geography Forecast till 2026,” technological advancements in diagnostic imagining is expected to propel the global endoscopy ultrasound market.
Moreover, there is a rise in the need of better accuracy in disease treatments. This in turn, has increased the demand for advanced diagnostics.
Some of the major companies that are present in the global endoscopy ultrasound market are;
- Olympus Corporation
- Fujifilm Corporation
- CONMED Corporation
- PENTAX Medical
- Boston Scientific Corporation, and other players.
The American Cancer Society found in a research that in the U.S., approximately 55,440 people were diagnosed with pancreatic cancer in 2018. In such situations, endoscopic ultrasound helps by providing an early detection. This further leads to an effective and immediate treatment which increase the patient’s survival rate. Fortune Business Insights predicts that a rise in the cases of gastrointestinal diseases is expected to favor growth of the global endoscopy ultrasound market during the forecast period.
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Furthermore, an increasing demand for superior and advanced systems for effective diagnosis from the huge patient pool around the world is expected to boost the global endoscopy ultrasound market at a rapid rate by the end of 2026. However, the lack of infrastructure and expensive nature of system accession in developing countries are anticipated to hinder the growth of global endoscopy ultrasound market.
The global endoscopy ultrasound market is classified into four segments, namely, by application, by product, by geography, and by end user. By application, the market is further divided into gastroenterology, oncology, gynecology, urology, and others. Oncology holds a significant amount of the global endoscopy ultrasound market at present. This is because of an increasing adoption of endoscopy ultrasound for the diagnosis of oncological disorders and cancer across the globe. In terms of product, the market is divided into needles, endoscope, ultrasound probe, accessories, imaging system, and ultrasonic processor. Lastly, by end user, the market is grouped into diagnostic centers, hospitals, and ambulatory surgical centers.
Rise in the Cases of Chronic Conditions to Boost the Market in Asia Pacific
Geographically, the global endoscopy ultrasound market is divided into Europe, North America, the Middle East and Africa, Latin America, and Asia Pacific. At present, North America and Europe are the two continents that dominate the endoscopy ultrasound market. These continents are anticipated to gain a much larger hold of the market during the forecast period. In 2018, in terms of revenue, North America held the largest share of endoscopy ultrasound market.
This was mainly because of a rise in the number of cases of cancers, especially pancreatic, gastric, and stomach caners. Also, improved healthcare systems and advanced endoscopy ultrasound aided North America to gain the highest revenue. The endoscopy ultrasound market in Asia Pacific, on the other hand, is projected to grow due to an increasing prevalence of chronic illnesses, such as cancer.
PENTAX Medical, Olympus, and Other Key Players Are Launching Products to Strengthen their Position in the Market
PENTAX Medical, an endo-imagining solutions provider, announced the launch of their new product called Slim Linear Ultrasound Endoscope (EG-3270UK) in August 2017. The product features latest ultrasound technology along with the company’s slimmest linear endoscope available. It also provided a better patient comfort. Earlier, in May 2014, Olympus Corporation, an optical products company headquartered in Japan, launched the next-generation ultrasound processor called EU-ME2. The product can integrate endobronchial ultrasound and endoscopic ultrasound on a single workstation.
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Segmentation for Endoscopy Ultrasound Market
- Ultrasound probe
- Ultrasonic processor
- Imaging system
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