Global Endoscopy Ultrasound Market - Snapshot
Endoscopy ultrasound (EUS) combines the advantages of endoscopic access and ultrasound imaging, enabling health care providers to more accurately diagnose and treat the conditions of the gastrointestinal tract. The global endoscopy ultrasound market was valued at approximately US$ 600.0 Mn in 2017 and is anticipated to expand at a CAGR of over 5.0% during the forecast period to reach a value of approximately US$ 1,000 Mn in 2026. Rise in adoption of endoscopy ultrasound techniques owing to their higher accuracy in diagnosis and treatment of gastrointestinal (GI) diseases is expected to drive the market from 2018 to 2026.
Major applications of endoscopy ultrasound (EUS) in the diagnosis of gastrointestinal cancers, including pancreatic, liver, and other cancers and increase in prevalence of gastrointestinal cancers are driving demand for endoscopy ultrasound products such as endoscopes, probes, and EUS needles, globally. According to statistics from the American Cancer Society (ACS), pancreatic cancer is among the leading causes of deaths globally. An estimated 53,070 people in the U.S. were diagnosed with pancreatic cancer in 2016, and an estimated 41,000 deaths were related to pancreatic cancer in 2016. According to GLOBOCAN, there were an estimated 782,000 new cases of liver cancer globally in 2013. Rise in incidence of GI cancers, new and innovative product offerings by market players, and opening of new application areas for EUS techniques were some of the major factors propelling the market in 2017. Moreover, market players are focusing on constant innovations in their product offerings. Endoscopy ultrasound techniques are being utilized in areas apart from oncology, and demand for new endoscopy ultrasound techniques such as elastography and contrast-enhanced endoscopy ultrasound (CE-EUS) is on the rise. This is fuelling demand for new and advanced products in the global market. These factors are further projected to boost the market from 2018 to 2026.
The Centers for Disease Control and Prevention (CDC), National Institutes of Health (NIH), and other agencies have laid down strict policies for the training and education of skilled professionals performing endoscopy ultrasound techniques. However, lack of skilled professionals in the sector and lack of training and education programs in emerging countries are projected to be major restraining factors of the global endoscopy ultrasound market in the coming years.
The global endoscopy ultrasound market can be segmented based on product, application, procedure, technology, end-user, and region. Based on product, the global endoscopy ultrasound market can be classified into endoscopes, ultrasound probes, ultrasonic processors, imaging systems, needles, and accessories. Innovative product offerings in the endoscopes segment and increase in application of endoscopy ultrasound techniques are likely to propel the segment in the near future. In terms of application, the global market can be categorized into oncology (upper GI oncology and lower GI oncology), pancreatic conditions, and others. Based on technology, the global endoscopy ultrasound market can be divided into radial scanning technology and linear scanning technology. In terms of procedure, the global market can be classified into upper EUS, lower EUS, EUS-guided fine-needle aspiration, and others. Based on end-user, the global endoscopy ultrasound market can be categorized into hospitals, ambulatory surgery centers, specialty clinics, and diagnostic centers.
In terms of region, North America accounted for a dominant share of the global endoscopy ultrasound market in 2017. Higher demand for advanced diagnostic techniques in oncology, availability of new and advanced products in the U.S., and increase in incidence of gastric cancers were some of the major factors leading to the increased adoption of endoscopy ultrasound techniques in the market in North America 2017. The adoption of EUS techniques is steadily gaining pace in Asia Pacific, owing to the implementation of proper training and educational programs for surgeons and rise in preference of health care providers for minimally invasive EUS techniques in the diagnosis and treatment of gastrointestinal conditions. This is projected to drive the comparatively higher growth of the endoscopy ultrasound market in Asia Pacific from 2018 to 2026.
Key companies operating in the global endoscopy ultrasound market and profiled in the report include Olympus Corporation, PENTAX Medical, FUJIFILM Corporation, Medtronic, CONMED Corporation, and Boston Scientific Corporation. These players are adopting organic and inorganic growth strategies to expand their product offerings, strengthen their geographical reach, and consolidate their market share in the global endoscopy ultrasound market. For instance, in September 2017, PENTAX Medical and Hitachi Medical Systems Europe announced the launch of a new ultrasound video bronchoscope (EBUS), EB19-J10U, in combination with Hitachi’s innovative ultrasound systems.
Global Endoscopy Ultrasound Market: Overview
Endoscopy ultrasound (EUS) is a minimally invasive technique used by surgeons and physicians to diagnose and treat various conditions of the gastrointestinal tract, including gastrointestinal cancers, pancreatic conditions, and others. Increase in prevalence of gastric cancers, including upper and lower GI cancers and higher accuracy and specificity of endoscopy ultrasound techniques for the diagnosis of these conditions are some of the major factors propelling the global endoscopy ultrasound market.
The endoscopy ultrasound market report comprises an elaborate executive summary, which includes a market snapshot that provides information about various segments of the market. It also provides information and data analysis of the global market with respect to the segments based on product, application, procedure, technology, end-user, and geography. A detailed qualitative analysis of drivers and restraints of the market and opportunities has been provided in the market overview section. In addition, the section comprises a competitive matrix and company profiles with business overview to understand the competitive landscape in the market. This section of the report also provides market attractiveness analysis, by geography and market share analysis, by key players, thus presenting a thorough analysis of the overall competitive scenario in the global endoscopy ultrasound market.
Global Endoscopy Ultrasound Market: Key Segments
Based on product, the global endoscopy ultrasound market has been segmented into endoscopes, ultrasound probes, ultrasonic processors, imaging systems, needles, and accessories. The product segments have been analyzed based on sales of products by major and domestic players in each segment; demand for endoscopes, probes, needles, and processors in the global market; and presence of key players in the region. The market size and forecast for each of these segments have been provided for the period from 2016 to 2026, along with their respective CAGRs for the forecast period from 2018 to 2026, considering 2017 as the base year.
Based on application, the global endoscopy ultrasound market has been segmented into oncology (upper GI oncology and lower GI oncology), pancreatic conditions, and others. Based on procedure, the global endoscopy ultrasound market is segmented into upper EUS, lower EUS, EUS guided fine-needle aspiration, and others.
Global Endoscopy Ultrasound Market: Regional Outlook
In terms of region, the global endoscopy ultrasound market has been segmented into five major regions and key countries in the respective regions: North America (the U.S., Canada), Europe (the U.K., Germany, France, Italy, Spain, and Rest of Europe), Asia Pacific (China, Japan, India, Australia & New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa (South Africa, GCC Region, Israel, and Rest of Middle East & Africa). The market size and forecast for each of these regions and the mentioned countries have been provided for the period from 2016 to 2026, along with their respective CAGRs for the forecast period from 2018 to 2026, considering 2017 as the base year.
Companies Mentioned in Report
The report also profiles the major players in the market and provides various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. Major companies profiled in the endoscopy ultrasound market are Olympus Corporation, FUJIFILM Corporation, PENTAX Medical (HOYA Corporation), CONMED Corporation, Medtronic, Esaote SpA, Cook, Boston Scientific Corporation, and Medi-Globe Corporation.
The global endoscopy ultrasound market has been segmented as follows:
Endoscopy Ultrasound Market, by Product
- Ultrasound Probes
- Ultrasonic Processors
- Imaging Systems
Endoscopy Ultrasound Market, by Application
- Upper GI Oncology
- Lower GI Oncology
- Pancreatic Conditions
Endoscopy Ultrasound Market, by Technology
- Radial Scanning
- Linear Scanning
Endoscopy Ultrasound Market, by Procedure
- Upper EUS
- Lower EUS
- EUS Guided Fine-needle Aspiration
Endoscopy Ultrasound Market, by End-user
- Specialty Clinics
- Ambulatory Surgery Centers
- Diagnostic Centers
Endoscopy Ultrasound Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- GCC Region
- Rest of Middle East & Africa