The Endoscopy Ultrasound market study analyzes each market player encompassed in the market study as per its market share, production footprint, current launches, agreements, ongoing R&D projects, and market strategies. SWOT analysis has been performed in the market study to investigate the strengths, weaknesses, opportunities and threats of each player.
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The scope of global endoscopy ultrasound market has widened since the past few years. This is primarily attributed to the increased incidences of gastrointestinal cancers across the world. The World Health Organization (WHO) estimates that more than 700,000 cancer-related casualties are a result of stomach cancers. Therefore, adoption of endoscopy ultrasound procedures has become important. Owing to the current COVID-19 pandemic, healthcare workers are delaying elective endoscopic ultrasound procedures to reduce transmission from infected patients to healthcare workers. This is anticipated to moderately impact the market in the near term
On the back of these trends, the global endoscopy ultrasound market is poised to experience a positive growth path, expanding 1.5x during the forecast period (2020-2026). The affordability of endoscopy ultrasound procedures in terms of money as compared to procedures such as Endoscopic Retrograde Cholangiopancreatography (ERCP) shall also augment market growth.
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Key Takeaways of Global Endoscopy Ultrasound Market Study:
- By product type, the endoscopes segment is anticipated to capture a considerable portion of the global endoscopy ultrasound market. Projections indicate a market share greater than one-third. Important innovations such as installation of transducers and cameras are poised to uplift market prospects.
- However, the needles segment is poised to expand rapidly, growing 1.5x and capturing almost a quarter of the endoscopy ultrasound market. Their low cost, single-use feature and application in aspiration and biopsy procedures are key growth determinants for the segment.
- By application, the oncology segment shall capture the majority of the global endoscopy market, amounting to more than 3/4th. Increased applicability in detecting and treatment of gastrointestinal cancers, introduction of new techniques such as elastography and contrast-enhanced endoscopy ultrasound (CE-EUS) are important growth levers.
- In terms of procedure, the upper EUS segment is anticipated to account for more than 70% of the global endoscopy ultrasound market. Preference for endoscopy ultrasound in diagnostic and therapeutic applications of upper gastrointestinal cancer is augmenting the segment’s growth.
- By technology, linear scanning is anticipated to be very lucrative, owing to its suitability in performing therapeutic procedures for various GI cancers and pancreatic conditions. Anticipated CAGR for the linear scanning segment is pegged at 5.8% during the forecast period.
- By region, North America shall dominate the global endoscopy ultrasound market, growing at a CAGR of 5.8% and capturing more than 2/5th of the market. This is because of rising demand for more advanced diagnostic procedures to address GI cancers.
- Asia-Pacific shows burgeoning market prospects. This is supported by an increasing patient pool suffering from gastrointestinal and pancreatic cancers as well as higher penetration of EUS techniques in hospital and other healthcare settings. The region is anticipated to expand nearly 2.0x, capturing around 2/5th of the global endoscopy ultrasound market.
- The COVID-19 pandemic is anticipated to register a marginal decline in the production of endoscopy devices for elective purposes. Key market players such as FUJIFILM have redirected their resources in drug development. FUJIFILM has initiated the third phase of its clinical trial for Avigan anti-influenza drug. The drug specifically inhibits RNA polymerase associated with influenza virus replication.
- Companies such as Olympus Corporation have encouraged work from home and restricted international travel of all its employees. The company claims that its operations shall run on a regular basis as certain departments work on a shift-basis.
The Endoscopy Ultrasound market report provides the readers with the below-mentioned insights:
- Key trends, including ecological conservation, patented solutions, and globalization.
- Consumption pattern of each segment of the market in every region.
- Detailed study of the factors (positive and negative) impacting the growth of the global Endobronchial Valves market.
- Critical analysis of R&D activities performed by market players to expand their production footprint across various industries.
- Thorough research of effect of the market across various end use industries.
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The Endoscopy Ultrasound market report gets rid of the following queries:
- Which end use has the highest rate of consumption and why?
- Which regions are the market players targeting to gain a competitive edge?
- What is the growth forecast of the global market in region?
- What is the Y-o-Y growth rate of the global market?
- Which segment will have the maximum share of the global market by the end of year?
And so on…..
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