Endoscopic Ultrasound Market, 2024The endoscopic ultrasound global market report 2024
Market Size – The endoscopic ultrasound market size has grown strongly in recent years. It will grow from $1.27 billion in 2023 to $1.37 billion in 2024 at a compound annual growth rate (CAGR) of 8%. The growth in the historic period can be attributed to growth in cancer research and treatment, increasing healthcare expenditure, rise in the number of endoscopic procedures, growing preference for early diagnosis, increase in outpatient diagnostic centers.
The endoscopic ultrasound market size is expected to see strong growth in the next few years. It will grow to $1.88 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to rising prevalence of gastrointestinal disorders, growing demand for minimally invasive procedures, increasing geriatric population, expansion of healthcare facilities, rising awareness and adoption of EUS. Major trends in the forecast period include innovations in imaging technology, development of portable and user-friendly devices, advancements in endoscopic techniques, development of integrated imaging systems, technological integration with digital health.
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Scope Of Endoscopic Ultrasound MarketThe Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Endoscopic Ultrasound Market Overview
Market Drivers -The increased prevalence of gastrointestinal illnesses is projected to drive the growth of the endoscopic ultrasound market in the near future. Gastrointestinal diseases encompass various medical conditions affecting the digestive system, including the stomach, intestines, liver, and pancreas. The rising cases of gastrointestinal illnesses can be attributed to changes in dietary habits, consumption of contaminated food or water, infections caused by pathogens, and lifestyle factors such as sedentary behavior, smoking, and alcohol use. Endoscopic ultrasound is utilized to diagnose and treat gastrointestinal conditions by providing enhanced visualization and maneuverability during procedures, ultimately improving patient outcomes and facilitating early detection and intervention. For example, in January 2023, the American Cancer Society (ACS), a US-based health organization dedicated to eliminating cancer, reported a 3.18% increase in gastrointestinal cancers, with 348,840 cases compared to 338,090 in 2021 in the United States. Consequently, the increasing prevalence of gastrointestinal illnesses is propelling the growth of the endoscopic ultrasound market.
Market Trends – Major companies operating in the endoscopic ultrasound market are focusing on developing diagnostic ultrasound systems to enhance diagnostic accuracy, improve image quality, and offer minimally invasive solutions. Diagnostic ultrasound systems are imaging devices that use high-frequency sound waves to create real-time visual images of internal organs, tissues, and blood flow to assist in medical diagnosis. For instance, in February 2024, Fujifilm India, an India-based imaging solutions provider, launched the ALOKA ARIETTA 850 endoscopic ultrasound machine in India. This state-of-the-art endoscopic ultrasound machine aims to enhance diagnostic precision and image clarity for gastrointestinal diseases. It improves diagnostic precision and image clarity for gastrointestinal diseases, which are increasingly common due to modern lifestyles. The key features include minimally invasive procedures for conditions such as pancreatic pseudo-cyst drainage, high-quality imaging through 7 million digital channels and comprehensive diagnostic capabilities such as fine needle aspiration (FNA) and biopsy.
The endoscopic ultrasound market covered in this report is segmented –
1) By Product: Endoscope, Ultrasound Probe, Needle, Accessories, Ultrasonic Processors, Other Products
2) By Application: Gastrointestinal Cancer, Lung Cancer, Pancreaticobiliary Disease, Other Applications
3) By End-Use: Hospitals, Ambulatory Surgical Centers, Other End-Users
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Regional Insights – North America was the largest region in the endoscopic ultrasound market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the endoscopic ultrasound market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies – Major companies in the market are Fujifilm, Stryker Corporation, Boston Scientific Corporation, B. Braun Melsungen AG, Olympus Corporation, Smith & Nephew plc, HOYA Corporation, STERIS Corporation, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Cook Medical LLC, KARL STORZ SE & Co. KG, CONMED Corporation, Asahi Intecc Co. Ltd., Max Healthcare Institute Limited, Hitachi Medical Systems America, Esaote S.p.A., SonoScape Medical Corp., Canon Medical Systems Corporation, NDS Surgical Imaging LLC, Medi-Globe Corporation, Endo Tech LLC
Table of Contents 1. Executive Summary2. Endoscopic Ultrasound Market Report Structure3. Endoscopic Ultrasound Market Trends And Strategies4. Endoscopic Ultrasound Market – Macro Economic Scenario5. Endoscopic Ultrasound Market Size And Growth…..27. Endoscopic Ultrasound Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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