Demand for various products in the endoscopy ultrasound market has
been on the back of extensive application in gastroenterology over the past
several years, noted analysts at Transparency Market Research (TMR). The drive
for endoscopy ultrasound market gathered a marked momentum in recent years from
the clinical role of endoscopy in therapeutic procedures. The diagnostic
capabilities have also advanced on the back of advancement in imaging
modalities. Key manufacturers in the endoscopy ultrasound market have harnessed
these advancements to meet the clinical demand for identifying
pancreaticobiliary malignancies, and other benign pancreatic disorders.
The use of fine needle biopsies in cancer management is one of the
key trend bolstering growth of the endoscopy ultrasound market. The increasing
incidence of gastrointestinal cancers and the growing awareness about their
morbidity in patient populations have led to unlocking new demand dynamic in
developing and developed regions.
The global endoscopy ultrasound market stood at S$0.6 bn in 2017
and is expected to clock a CAGR of more than 5.0% during 2018 – 2026. This will
help market reach a worth of US$ ~1.0 bn by the end of 2026.
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Growing Awareness of Morbidity of
Tumors Spurs Demand in All Clinical Settings
The demand for technologies for optimal targeting and diagnosis in
tumors has spurred demand for new endoscopy technologies in the endoscopy
ultrasound market. Continuous strides have been made by medical device makers
to meet the objectives of higher precision in the characterization and staging.
These are boosting the application of the modalities in both therapeutic as
well as diagnostic applications.
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In recent years, the endoscopy ultrasound market has gained
sizable revenues on account of the uptake in EUS-FNA procedures. In addition,
elastography procedures have also risen in popularity. The demand for endoscopy
in such procedures is underpinned by the growing popularity of minimally
invasive procedures.
Some of the well-entrenched industry stakeholders in the endoscopy
ultrasound market include names such as ACE Medical Devices, Olympus
Corporation, Medtronic PLC, CONMED Corporation, Medi-Globe GmbH, and Boston
Scientific Corporation.
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Continuous Microscopy Advancements
Drive Endoscopy Ultrasound Market
Massive microscopy advancements have been key characteristic of
new launches in the global endoscopy ultrasound market, especially of lucrative
regional markets. One of these is North America which is expected to hold the
major share in the endoscopy ultrasound market. The trend in uptake of various
endoscopy ultrasound modalities is in account of the clinical significance of
endoscopy in the treatment of diseases related to gastroenterology, oncology,
and pulmonology. Moreover, the regional market is thronged by the presence of
several top players over the past few years.
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Asia Pacific Holds Vast Latent
Opportunities
On the other side of the spectrum are the regions that will be key
to rise in revenues. One of these is Asia Pacific. The regional market is
expected to rise at promising pace through 2026.
Rising geriatric population has been spurring the demand for
technologies requirement for advancing the therapeutic and diagnostic
capabilities of devices used in radiology and in hospital setting. This has
also spurred demand for better endoscopy ultrasound in improving
characterization of lesions for the management of a wide range of chronic
conditions. Countries such as India have seen the rise of endoscopy ultrasound
in the management of cancer, including its characterization and staging among
the regional population. This has expanded the horizon of the endoscopy
ultrasound market.
The study presented here is based on a report by Transparency
Market Research (TMR) titled “Endoscopy Ultrasound Market (Product -
Endoscopes, Ultrasound Probes, Ultrasonic Processors, Imaging Systems, Needles,
Accessories; Application - Oncology (Upper GI Oncology and Lower GI Oncology),
Pancreatic Conditions; Technology - Radial Scanning, Linear Scanning; Procedure
- Upper EUS, Lower EUS, EUS-guided Fine-needle Aspiration; End use - Hospitals,
Specialty Clinics, Ambulatory Surgery Centers, Diagnostic Centers) - Global
Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026”
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