Global Endoscopy Ultrasound Market to Expand 1.5x by 2026
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, the 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
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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.
Key Takeaways of Global Endoscopy Ultrasound Market Study:
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“The global endoscopy ultrasound market shows positive growth trends. Rising prevalence of gastrointestinal and pancreatic cancers are anticipated to drive the market growth. Key market players are thus concentrating on technological breakthroughs in order to provide better quality products and solutions,” concludes a Fact.MR analyst.
Global Endoscopy Ultrasound Market: Competitive Landscape:
The global endoscopy ultrasound market is dominated by three market players: are Olympus Corporation, PENTAX Medical (HOYA Corporation) and FUJIFILM Corporation. These companies are constantly innovating their technologies to provide quality solutions to their clients.
For instance, Olympus Corporation is the leading player. It focuses on strong organic growth through new and innovative product introductions. For example, in 2016, the company announced the launch of its EZ Shot 3 Plus single-use aspiration needle for endoscopic ultrasound-fine needle aspiration (EUS-FNA) procedures. Currently, it manufactures the ProSound F75 Endoscopy Ultrasound Processor and the EU-ME2 High Quality Ultrasound Processor.
Similarly, FUJIFILM Corporation launched its Vevo MD, an ultra-high frequency (UHF) clinical ultrasound system in 2016 after receiving clearance from the U.S. Food and Drug Administration (FDA). Its other imaging solutions include the EG-530 UR Ultrasound Video Bronchoscope and the EG-530 UT Ultrasonic Processor SP-900.
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The research study on the global endoscopic clips market by Fact.MR incorporates an unbiased assessment of key factors and trends responsible for shaping the landscape of the global endoscopy ultrasound market over 2020-2026. It includes a detailed assessment of key parameters that are anticipated to exert influence during 2020-2026. Market statistics have been presented on the basis of Product (Endoscope, Ultrasound Probe, Ultrasonic Processor, Imaging Systems, Needles and Accessories), Procedure (Upper EUS, Lower EUS, EUS Guided Fine-needle Aspiration and Others), Technology (Radial Scanning and Linear Scanning), Application (Oncology, Pancreatic Conditions and Others) and End-user (Hospitals, Ambulatory Surgery Centers, Specialty Clinics and Diagnostic Centers) across five major regions.
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About Fact.MR Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai.
Apr 28, 2021