Endoscopy Ultrasound Market Growth Underpinned by Heightened Cancer Research Initiatives: Fact.MR
International level coalitions amongst healthcare organizations, governments and research institutions are expected to generate credible grounds for expansion
ROCKVILLE, MD / ACCESSWIRE / January 25, 2021 / The global endoscopy ultrasound market is poised to acquire significant gains, expected to register steady annual growth in 2021 over 2020, owing to a resumption of elective surgical procedures in the aftermath of the pandemic crisis, establishes award winning market research company Fact.MR. Long-term growth appears largely positive, fostered by numerous breakthroughs in cancer research and other relevant application fields over the upcoming decade.
The World Health Organization estimated the global incidence of cancers amounting to over 19 million cases as of 2020, with a cumulative risk of over 20% across males and females. Mortality rates reached nearly 10 million across both genders that same year. Concerned by this, healthcare providers worldwide are leveraging every opportunity to offset this risk in upcoming years.
The National Cancer Institute is a pioneer in fostering advanced cancer prevention and treatment programs by leading, conducting and supporting cancer research to advance scientific knowledge. Its ECHO Program endeavors to promote tele-monitoring as a pathway to facilitate translation of research and ensure evidence-based policies and programs. Such programs are anticipated to encourage enhanced usage of EUS to offer advanced quality cancer care, leading to the market’s expansion.
“Manufacturers are expected to receive tremendous impetus across the developing world, as governments scramble to improve healthcare infrastructure by implementing cancer research programs,” remarks the Fact.MR analyst.
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Key Takeaways from Fact.MR’s Endoscopy Ultrasound Study
- By product, endoscope likely to register over a third of the revenue share, needles to follow suit
- High applications in detecting upper GI tract anomalies to escalate prospects of upper EUS in terms of procedure
- Linear endoscopy to acquire high ground, owing to precision in detecting cancers
- U.S to expand at a strong CAGR, owing to heightened number of endoscopy procedures undertaken each year
- U.K to experience steady Y-o-Y growth, attributed to increased funding for cancer research
- France and Germany to register steady growth throughout the forecast period
- Japan and South Korea to remain promising growth hotspots
Endoscopy Ultrasound Market- Prominent Drivers
- Growing applications in elastography and differentiate improved endoscopy ultrasound (CE-EUS) to widen scope of EUS sales
- Expanding preference for minimally invasive surgical procedures to reduce patient trauma is expected to aggrandize growth prospects in the future
- Manufacturers are emphasizing on technological innovations to launch new product lines, leading to future proliferation
Endoscopy Ultrasound Market- Key Restraints
- Dearth of skilled professionals and limited training programs for training surgeons is expected to hinder growth prospects
- Instances of complications such as infection, acute pancreatitis and bleeding may deter patients from availing this procedure
Discover more about the endoscopy ultrasound market with 99 figures and 42 data tables, along with the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/4689/endoscopy-ultrasound-market
Competitive Landscape
Olympus Corporation, FUJIFILMS Corporation, PENTAX Medical, Boston Scientific Corporation, CONMED Corporation, Medtronic and Esaote SpA are the most prominent endoscopy ultrasound device manufacturers. According to Fact.MR, the market is highly consolidated as these players generate maximum revenue across the landscape.
In order to retain prominence, the aforementioned vendors deploy a slew of expansion strategies, which range from introducing new product lines to capacity expansion via mergers, acquisitions, collaborations and strengthening regional as well as global supply chains.
In January 2021, Olympus Corporation announced a long-term business alliance with Hitachi Ltd. to ensure a consistent supply of endoscopic ultrasound systems. This alliance is expected to last until 2026. Additionally, the company also unveiled its IPLEXTM G-Air long videoscope solution which offers high maneuverability with high-quality, wide-view imaging capacities in 2020.
Furthermore, FUJIFILM has inaugurated a medical screening service business in India and Southeast Asia to provide enhanced treatment for cancer screening, based on high-definition diagnostic imaging, AI-enabled technology and IT-based data assimilation solutions.
More Valuable Insights on the Endoscopy Ultrasound Market
Fact.MR presents an unbiased analysis of the global endoscopy ultrasound market. The study divulges essential insights on the endoscopy ultrasound market on the basis of product type (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, specialty clinics, ambulatory surgical centers and diagnostic centers), across 5 major regions of the world.
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