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Endoscopy Ultrasound Market

Endoscopy Ultrasound Market

Endoscopy Ultrasound Market By Product (Endoscope, Ultrasound Probe, Needles, Accessories), By End-user (Hospitals, Diagnostic Centers), By Technology (Radial, Linear), By Application (Oncology, Pancreatic Conditions), By Procedure (Upper EUS, Lower EUS)- Global Market Insights 2020-2026

Endoscopy Ultrasound Market
FACT4689MR
  • Apr-2020
  • List of Tables : 42
  • List of Figures : 99
  • 170 Pages
  • Healthcare

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.

endoscopy ultrasound market 01

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.

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.

endoscopy ultrasound market 02

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.

Product

  • Endoscope
  • Ultrasound Probe
  • Ultrasonic Processor
  • Imaging Systems
  • Needles
  • Accessories

Procedure

  • Upper EUS
  • Lower EUS
  • EUS Guided Fine-needle Aspiration
  • Others

Technology

  • Radial Scanning
  • Linear Scanning

Application

  • Oncology
  • Upper GI Oncology
  • Lower GI Oncology
  • Pancreatic Conditions
  • Others

End-user

  • Hospitals
  • Specialty Clinics
  • Ambulatory Surgery Centers
  • Diagnostic Centers

Region

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

“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than the addressee(s) is unauthorized and prohibited.”x

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