An endoscope is tiny, tube-shaped equipment to examine the body’s important information. A specialized endoscope uses high-frequency sound waves to create precise images of the lining of digestive systems and adjacent organs. Ultrasound for endoscopy In a biopsy, a doctor removes fluid and tissue from the chest or abdomen to be thoroughly examined. The physician passes an endoscope down the throat and directly into the belly during an endoscopic ultrasound pancreatic.
The market worth of endoscopy ultrasound in 2021 was USD 901.14 million, and it will be worth USD 1544.59 million by 2030, growing at a 6.17% CAGR during the forecast period.
The diagnosis of gastrointestinal cancers, such as liver, pancreatic, and other cancers, is also frequently performed with the EUS (Endoscopic Ultrasound System). Up to 26% of all cancer occurrences and 35% of all cancer-related fatalities globally occurred in 2018 as a result of gastrointestinal cancers.
The rise in endoscopic operations, the rising number of patients with stomach cancer, and rising spending on healthcare infrastructure across economies are all factors contributing to the growth of the endoscopy ultrasound market.
Market Dynamics
Drivers
The increasing incidence of stomach cancer worldwide is one of the main key factors driving the global endoscopy ultrasound market. According to the World Health Organization, stomach cancer caused 783,000 fatalities globally in 2018. Additionally, stomach cancer is the sixth most prevalent cancer worldwide. According to the WHO, there were 1.09 million new instances of stomach cancer in 2020, and liver cancer has been one of the most deadly malignancies, accounting for 830000 fatalities.
Restraints
The main limitation of EUS is its inability to differentiate between benign and malignant tissues, leading to overstaging due to peritumoral inflammation.
Opportunity
The introduction of highly advanced and modernized techniques like EUS guided fine-needle aspiration (EUS-FNAC) has made it one of the most well-liked forms of treatment for gastrointestinal cancer worldwide. In the future, it will grow rapidly.
Market Segmentation
On the basis of product, the endoscopic ultrasound market is segmented into needles, endoscopes, imaging systems, accessories, ultrasound probes, and ultrasonic processors.
The Endoscope market segment held the greatest share and will expand at a CAGR of 9.37% between 2020 and 2028. The entire market will grow quickly due to an increase in echo-endoscopy operations and the leading market participants’ quick entry into highly developed nations.
On the basis of application, the endoscopic ultrasound market is segmented into pancreatic conditions, upper GI oncology, lower GI Oncology, oncology, and others.
The oncology segment held a significant market position with a 4.48% CAGR due to the use of precise and less invasive diagnostic methods and the increased incidence of gastrointestinal cancer.
On the basis of end-user, the market is segmented into specialty clinics, hospitals, ambulatory surgery centers, and diagnostic centers.
The hospital segment ruled the entire market significantly. It is due to the advantageous health reimbursement for minimally invasive procedures and the ongoing rise in the number of skilled and trained endoscopists. An endoscopy typically costs between USD 2750 and USD 4800 in the United States. Additionally, the price range for an EGD with endoscopic ultrasonography is USD 2513 to USD 3501.
Regional Insights
With USD 297 million in total revenue in 2018, North America ruled the entire market. This dominance will rise due to the region’s rapid technological advancement and rise in EUS procedures. Nearly 18.1 million procedures are carried out annually in the United States, and 35% of those 65 and older have a chronic gastrointestinal condition.
Asia Pacific is growing at a rapid rate due to the region’s aging population and the growing rate of early cancer detection in china.
Key Players Â
- Medtronic
- Smith & Nephew
- FUJIFILM Holdings Corporation
- Olympus Corporation
- Huaco Healthcare Technologies Co. Ltd.
- SonoScape Medical Corporation
- Boston Scientific Corporation
- Ethicon
- Medi-Globe Corporation
- Pentax Medical (HOYA)
- B. Braun
- Conmed Corporation
- Cook Medical
- Ethicon
The market worth of endoscopy ultrasound in 2021 was USD 901.14 million, and it will be worth USD 1544.59 million by 2030, growing at a 6.17% CAGR during the forecast period. Endoscopy ultrasound (EUS) has significant applications in the diagnosis of gastrointestinal cancers such as pancreatic, liver, and other cancers. Furthermore, the increasing prevalence of gastrointestinal cancers is driving global demand for endoscopy ultrasound products such as endoscopes, probes, and EUS needles.
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