Endoscopy procedures are used for diagnosis, prevention, and
treatment of the complications of internal organs. These procedures
are conducted to examine ulcers, pain, digestive tract bleeding,
abdominal pain and abnormal growths in the colon, and other
gastrointestinal conditions. The rise in demand for minimally
invasive procedures which require less operational complications
makes it one of the most preferred and desirable procedures for
diagnostics and surgery. In the past few years, the demand for
cost-effective endoscopic procedures in terms of pre- and
post-surgical operations has increased.
Endoscopic ultrasound (EUS) is a minimally invasive endoscopic
procedure used to investigate the complications of gastrointestinal
(digestive) and lungs diseases. EUS is commonly called as
echo-endoscopy. In this procedure, high-frequency sound waves are
used to produce detailed images of the lining and walls of the
digestive tract, chest, liver, pancreas, and lymph nodes. This
procedure is performed by pulmonologists (gastroenterologists). It is
usually executed in an outpatient setting and takes between 20 and 45
minutes.
The global endoscopic ultrasound market is anticipated to grow
rapidly in the next few years. One of the key factors driving the
market growth for endoscopic ultrasound is rise in incidences of
gastrointestinal diseases, cancer, and other chronic diseases
globally owing to increase in geriatric population and changes in
lifestyle and eating habits leading to obesity. Additionally,
technological advancements in visualization techniques, surgical
endoscopic treatments, and diagnosis and increase in awareness about
endoscopic technologies are factors boosting the growth of the
market. However, high cost of medical devices, stringent guidelines
followed by the regulatory bodies of countries, and lack of awareness
about new technologies are restraining the market growth for
endoscopic ultrasound.
The global market can be segmented on the basis of type, application,
end-user, and region. On the basis of type, the market is segmented
as flexible endoscopes and rigid endoscopes. In terms of application,
the market is categorized as bronchoscopy, laparoscopy, urology
endoscopy, neuroendoscopy, gastrointestinal endoscopy,
obstetrics/gynecology endoscopy, and ENT endoscopy. The
gastrointestinal endoscopy, obstetrics/gynecology endoscopy, and ENT
endoscopy segments are expected to account for high market shares
during the forecast period.
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In terms of end-user, the market is segmented as hospitals,
diagnostic centers, academic and research institutes, and others. The
hospitals and diagnostic centers segments are anticipated to grow
owing to rise in investments by governments and private players in
the health care sector, specifically in endoscopic devices.
Additionally, wide acceptance of EUS devices and products due to
technological advancements is the other reason behind the growth this
segment.
Geographically, the market for endoscopic ultrasound is distributed
over North America, Europe, Asia Pacific, Latin America, and Middle
East & Africa (MEA). North America dominates the global market
due to rise in the number of infectious diseases resulting in
increased awareness among people about the early diagnosis of
diseases. One of the other reason, for dominance of the North America
market is the satisfactory reimbursement policies in the region.
Europe region is also expected to rapidly, as key players in the
market are collaborating with research institutions & lab to
develop new innovative products. The Asia Pacific market is
anticipated to expand at a high growth rate due to unmet needs of the
growing population. In addition, factors such as rapidly developing
health care network, rise in disposable income, increased health care
awareness, and reimbursement facilities are boosting the market
growth in Asia.
Key players operating in the endoscopy ultrasound market are Arthrex,
Inc., Boston Scientific Corporation, Cook Medical, Inc., Ethicon
Endo-Surgery, Inc., Fujifilm Holdings Corporation, HOYA Corporation,
Intuitive Surgical, Inc., Medtronic plc, Stryker Corporation, KARL
STORZ GmbH & Co. KG, Olympus Corporation, and Smith & Nephew
plc.
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