What Are The 5 Takeaways From The Endoscopic Ultrasound Market Overview 2024
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The endoscopic ultrasound market size has grown significantly in recent years, with projections showing an increase from $1.27 billion in 2023 to $1.37 billion in 2024, at a CAGR of 8%. The growth during the historical period has been driven by advancements in cancer research and treatment, increased healthcare expenditure, a rise in the number of endoscopic procedures, a growing preference for early diagnosis, and an increase in outpatient diagnostic centers. The market is anticipated to reach $1.88 billion by 2028, growing at a CAGR of 8.1%. This expected growth in the forecast period is attributed to the rising prevalence of gastrointestinal disorders, growing demand for minimally invasive procedures, an increasing geriatric population, the expansion of healthcare facilities, and rising awareness and adoption of EUS. Major trends anticipated in this period include innovations in imaging technology, the development of portable and user-friendly devices, advancements in endoscopic techniques, integrated imaging systems, and technological integration with digital health.
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.
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What Are The Key Trends That Influence Endoscopic Ultrasound Market Share Analysis?
Major companies in the endoscopic ultrasound market are concentrating on developing diagnostic ultrasound systems to improve diagnostic accuracy, enhance image quality, and provide minimally invasive solutions. Diagnostic ultrasound systems are imaging devices that utilize high-frequency sound waves to generate real-time visual images of internal organs, tissues, and blood flow to assist in medical diagnoses. For instance, in February 2024, Fujifilm India, an imaging solutions provider based in India, launched the ALOKA ARIETTA 850 endoscopic ultrasound machine. This state-of-the-art machine aims to improve diagnostic precision and image clarity for gastrointestinal diseases, which are becoming more prevalent due to modern lifestyles. Key features include minimally invasive procedures for conditions like pancreatic pseudo-cyst drainage, high-quality imaging through 7 million digital channels, and comprehensive diagnostic capabilities such as fine needle aspiration (FNA) and biopsy.
Which Market Players Are Driving Growth In The Endoscopic Ultrasound Market?
Major companies operating in the endoscopic ultrasound 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
How Is The Global Endoscopic Ultrasound Market Segmented?
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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The Endoscopic Ultrasound Global Market Report 2024 provides an overview of the endoscopic ultrasoundmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The endoscopic ultrasound market forecast analyzes endoscopic ultrasound market size, endoscopic ultrasound market share, leading competitor and their market positions.
The Table Of Content For The Endoscopic Ultrasound Market Include
1. Endoscopic Ultrasound Market Executive Summary
2. Endoscopic Ultrasound Market Segments
3. Endoscopic Ultrasound Market Size And Template Market Growth Rate
4. Key Endoscopic Ultrasound Market Trends
5. Major Endoscopic Ultrasound Market Drivers
……
25. Key Mergers And Acquisitions In The Endoscopic Ultrasound Market
26. Top Endoscopic Ultrasound Companies
27. Endoscopic Ultrasound Market Opportunities And Strategies
28. Endoscopic Ultrasound Market, Conclusions And Recommendations
29. Appendix
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