Increase in Incidence of Gastrointestinal Cancers to Act as Growth Levers for Endoscopy Ultrasound Market
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.
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.
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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.
Investment in Innovative Solutions, Launch of New Products to Act as Important Growth Levers for Potential Market Players
Olympus Corporation is the leading player. It focuses on strong organic growth through new and innovative product introductions. For example, in 2016, the company announced the launch of its EZ Shot 3 Plus single-use aspiration needle for endoscopic ultrasound-fine needle aspiration (EUS-FNA) procedures. Currently, it manufactures the ProSound F75 Endoscopy Ultrasound Processor and the EU-ME2 High Quality Ultrasound Processor.
Similarly, FUJIFILM Corporation launched its Vevo MD, an ultra-high frequency (UHF) clinical ultrasound system in 2016 after receiving clearance from the U.S. Food and Drug Administration (FDA). Its other imaging solutions include the EG-530 UR Ultrasound Video Bronchoscope and the EG-530 UT Ultrasonic Processor SP-900.
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COVID-19 Market Insights:
Amid the ongoing COVID-19 pandemic, the American Society for Gastrointestinal Endoscopy has established that all elective procedures, such as screening and surveillance colonoscopy in asymptomatic patients, surveillance for upper GI diseases such as esophageal varices, interval endoscopy for obliterating esophageal varices post-acute bleeding, evaluation of non-urgent symptoms and motility procedures must be put on hold.
However, screening for upper and lower GI bleeding, dysphagia, cholangitis, symptomatic pancreaticobiliary disease, palliation of GI obstruction and cases requiring change management may continue.
Based on these trends, the global endoscopic ultrasound device companies may experience a decline in their sales and revenue. Instead, the companies are reorienting their research towards developing anti-COVID-19 formulations.
For instance, Fujifilm Toyama Chemicals, the pharmaceutical division of Fujifilm, has commenced Phase III clinical trial of its antiviral influenza drug Avigan for the treatment of COVID-19 patients in Japan.
The drug specifically inhibits RNA polymerase associated with influenza viral replication. According to the study data, the drug was able to shorten recovery time from 11 days to 4 days.
Other companies, such as Olympus Corporation, rely on basic precautionary measures, such as encouraging their employees to work from home. The company projects that their operations are anticipated to continue on a regular basis. However, it has imposed an international travel restriction on all its employees until further notice.
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.
- Ultrasound Probe
- Ultrasonic Processor
- Imaging Systems
- Upper EUS
- Lower EUS
- EUS Guided Fine-needle Aspiration
- Radial Scanning
- Linear Scanning
- Upper GI Oncology
- Lower GI Oncology
- Pancreatic Conditions
- Specialty Clinics
- Ambulatory Surgery Centers
- Diagnostic Centers
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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Global Endoscopy Ultrasound Market - Scope Of The Report
The recent study by Fact.MR on global endoscopy ultrasound market offers a 6-year forecast between 2020 and 2026. The study analyzes crucial trends that are currently determining the growth of the global endoscopy ultrasound market. This report explicates on vital dynamics such as the drivers, restraints and opportunities for key market players along with key stakeholders and emerging players associated with the manufacturing of endoscopy ultrasound devices. The study also provides dynamics that are responsible for influencing the future status of the global endoscopy ultrasound market over the forecast period.
A detailed assessment of the global endoscopy ultrasound market value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the global endoscopy ultrasound market along with their product portfolio enhances the reliability of this comprehensive research study.
Global Endoscopy Ultrasound Market: Report Summary
The study offers a comprehensive analysis on diverse features including production capacities, demand, product developments, revenue generation and sales in global endoscopy ultrasound market across the globe.
A comprehensive estimate of the global endoscopy ultrasound market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of the global endoscopy ultrasound during the forecast period. Price point comparison by region with global average price is also considered in the study.
Global Endoscopy Ultrasound Market: Analysis on Market Size Evaluation
The global endoscopy ultrasound market has been analyzed for each market segment, in terms of value (US$ Mn).
Market estimates at global and regional levels for the endoscopy ultrasound market is available in terms of “US$ Mn” for value. A Y-o-Y growth contrast on prominent endoscopy ultrasound market segments, along with market attractiveness evaluation has been incorporated in the report.
Global Endoscopy Ultrasound Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the global endoscopy ultrasound market report, which have helped deliver projections on regional markets. These chapters include the regional macros (economic and business environment outlook), which are expected to have a momentous influence on the growth of the global endoscopy ultrasound market during the forecast period.
Country-specific valuation on demand for endoscopy ultrasound has been offered for each regional market, along with the market scope, estimate and forecast, price index, and impact analysis of dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value for emerging countries has also been included in the report.
Global Endoscopy Ultrasound Market: In-Depth Analysis on Competitive Landscape
The report sheds light on the leading manufacturers of global endoscopy ultrasound devices market along with their detailed profiles. Essential and up-to-date data andinformation related to the market performers, who are principally engaged in the production of endoscopy ultrasound devices, has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits the report readers to take preemptive steps in advancing their businesses.
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