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Global Endoscopy Ultrasound Market to Reach USD 1 Billion by 2026

By Medimaging International staff writers
Posted on 12 Jul 2018
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Image: The global endoscopy ultrasound market is expected to reach 1 billion by 2026, with market growth driven by an increase in the incidence of GI cancers, rise in endoscopy ultrasound applications and a growing number of products introduced in the market (Photo courtesy of BigStock).
Image: The global endoscopy ultrasound market is expected to reach 1 billion by 2026, with market growth driven by an increase in the incidence of GI cancers, rise in endoscopy ultrasound applications and a growing number of products introduced in the market (Photo courtesy of BigStock).
The global endoscopy ultrasound market was valued at approximately USD 650 million in 2017 and is expected to grow at a CAGR of over 5.0% from 2018 to 2026 to reach USD 1.0 billion by 2026. The market growth is being driven by an increase in the incidence of gastrointestinal (GI) cancers, rise in endoscopy ultrasound applications as a diagnostic and therapeutic tool for GI cancers and other pancreatic conditions, and growing number of new and advanced products introduced in the global market. However, the lack of training and educational programs conducted and implemented globally is leading to a shortage of adequately trained professionals who are adept at performing endoscopy ultrasound techniques. This has resulted in a gap between demand for and supply of endoscopy ultrasound procedures globally, thereby restraining market growth.

These are the latest findings of Transparency Market Research, (Albany, NY, USA), a global market intelligence company providing business information reports and services.

In terms of product, the endoscopes and needles segments are expected to gain market share during the forecast period. Continuous innovations by market players in the endoscopes and EUS needles segments; diverse applications of endoscopy ultrasound techniques demanding new and ergonomically designed endoscopes and needles for diagnostic and therapeutic purposes; and technological advances in endoscopy ultrasound techniques, including elastography endoscopy ultrasound (EG-EUS), contrast-enhanced endoscopy ultrasound (CE-EUS), and other techniques are fueling the demand for innovative product offerings. The market players are offering new endoscope and needle products to fulfill these demands. These factors are expected to drive the increase in market share and growth of the endoscopes and needles segments over the coming years.

In terms of technology, the linear scanning segment is expected to dominate the global endoscopy ultrasound market during the forecast period. New technological advances in EUS have led to increased adoption of linear scanning technology for diagnostic and therapeutic procedures for various GI cancers and pancreatic conditions. In terms of application, oncology is expected to be a prominent segment of the endoscopy ultrasound market, due to higher specificity and accuracy of endoscopy ultrasound in the diagnosis of GI cancers and the therapeutic role of endoscopy ultrasound in fine-needle aspiration and biopsy of cancer tissues. Additionally, new technologies, including elastography, have widened the applications of endoscopy ultrasound techniques in oncology and are expected to provide a boost to the oncology segment during the forecast period.

Geographically, North America dominated the global endoscopy ultrasound market in 2017, in terms of value. However, the Asia Pacific market is expected to grow at a higher CAGR during the forecast period due to the rapid adoption of endoscopy ultrasound techniques as a diagnostic and therapeutic tool in cancer and other pancreatic conditions in the region’s emerging countries, such as China and India. Additionally, the implementation of training facilities and adequate educational programs driving an increase in the number of skilled professionals who will be able to perform endoscopy ultrasound procedures is likely to boost demand in the Asia Pacific market. Furthermore, rising incidence of gastric cancer in the Asia Pacific countries is expected to drive the market for endoscopy ultrasound in the region during the forecast period. In Latin America, developing health care infrastructure in Brazil and improving reimbursement policies for endoscopy ultrasound procedures in the country are propelling the growth of the endoscopy ultrasound market in the region.

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