PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1669767
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1669767
The endoscopic ultrasonography market is projected to reach USD 1.93 billion by 2029 from USD 1.37 billion in 2024, at a CAGR of 7.1% during the forecast period. The endoscopic ultrasonography market has had strong growth due to a number of factors such as the rising incidences of cancer, growing initiatives to develop healthcare infrastructure in underdeveloped regions, increasing preference for minimally invasive surgeries, and advancements in endoscopic procedures.
Scope of the Report | |
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Years Considered for the Study | 2024-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD) |
Segments | Product, Type, Application, End User, and Region |
Regions covered | North America, Europe, APAC, LATAM, Middle East & Africa (GCC countries) |
"By product type, endoscopes segment is expected to account for the largest share in the endoscopic ultrasonography market."
The endoscopes segment accounted for the largest share of the endoscopic ultrasonography market in the forecast period. The increasing demand for minimally invasive procedures, coupled with advancements in technology enhancing precision and control, are significant drivers. Moreover, the rising prevalence of gastrointestinal disorders necessitates more efficient and accurate diagnostic and therapeutic procedures, further boosting the adoption of endoscopes. These factors collectively contribute to the growth potential for this segment within the market.
"Diagnostics segment, by type is expected to have the largest market share in the endoscopic ultrasonography market"
Based on type, the diagnostics segment is expected to dominate the endoscopic ultrasonography market due to the increasing demand for early and accurate detection of chronic diseases coupled with advancements in imaging technology, providing real-time visualization and high-resolution images. Moreover, rising adoption of EUS-guided fine needle aspiration procedures worldwide, driven by their minimally invasive nature and associated benefits like shorter recovery times and reduced post-operative complications have further boosted the growth in this segment, thereby indicating promising growth potential within the endoscopic ultrasonography market.
"The gastrointestinal disorders segment accounted the second-largest market share in the endoscopic ultrasonography market."
By application, the gastrointestinal disorders segment accounted for the second-largest market share in the endoscopic ultrasonography market. This significant share can be attributed to the rising prevalence of gastrointestinal disorders such as gastric cancer, chronic pancreatitis, and pancreatic cancer. Moreover, the growing geriatric population which is more prone to gastrointestinal diseases increasingly demand for advanced diagnostic procedures. These factors' all together play a significant role in propelling market growth.
"Hospitals segment of the endoscopic ultrasonography market is expected to have largest share."
Based on end user, the hospitals segment of the endoscopic ultrasonography market is expected to hold the largest share during the forecast period owing to the factors like the availability of advanced infrastructure constituting broad range of advanced diagnostic and therapeutic techniques, coupled with skilled professionals like gastroenterologists and endoscopists. Moreover, hospitals serving as vital healthcare centers, continuously invest in innovative endoscopic ultrasonography devices to address evolving healthcare demands, thus propelling market growth.
"Asia Pacific to hold third largest market share in the endoscopic ultrasonography market during the forecast period."
The Asia Pacific region accounted the third largest share in the endoscopic ultrasonography market in the forecast period. The growth is attributed to several factors, including the growing advanced healthcare infrastructure, widespread acceptance of innovative medical devices, and increasing healthcare expenditure in Asia Pacific region. Additionally, the ongoing enhancements in endoscopic technologies are anticipated to increase the demand for endoscopic ultrasonography devices in APAC region.
Prominent players in the endoscopic ultrasonography market include Olympus Corporation (Japan), Medtronic (US), FUJIFILM Holdings Corporation (Japan), Boston Scientific Corporation (US), PENTAX Medical (Japan), Steris (Ireland), CONMED Corporation (US), Lepu Medical Technology(Beijing)Co., Ltd. (China), CANON MEDICAL SYSTEMS CORPORATION (Japan), Cook (US), Huaco Healthcare Technologies Co. Ltd.(China), SonoScape Medical Corp.(China), Endosound, Inc.(US), Limaca-Medical (Israel), Beijing ZKSK Technology Co., Ltd. (China), Kaigen Pharma Co., Ltd.(Japan), PIOLAX MEDICAL DEVICES, INC.(Japan), Micro-Tech Endoscopy (US), Shaili Endoscopy (India), Zhejiang Soudon Medical Technology Co., Ltd.(China), ENDO-FLEX GmbH. (Germany), Ace Medical Devices Pvt. Ltd. (India), Medi-Globe GmbH.(Arizona), Medorah Meditek Pvt. Ltd.(India), and InnerMedical Co., Ltd. (China).
The report analyzes the endoscopic ultrasonography market and aims at estimating the market size and future growth potential of this market based on various segments such as product, type, application, end user and region. The report also includes a competitive analysis of the key players in this market along with their company profiles, service offerings, recent developments, and key market strategies.
Reasons to Buy the Report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall endoscopic ultrasonography market. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.