Endoscopic Ultrasound (EUS) Market Size, Share, Competitive Landscape and Trend Analysis Report, by Product, by Application, by End user : Global Opportunity Analysis and Industry Forecast, 2021-2031

Endoscopic Ultrasound (EUS) Market Research, 2031

The global endoscopic ultrasound (EUS) market was valued at $1.2 billion in 2021 and is projected to reach $2.2 billion by 2031, growing at a CAGR of 6.1% from 2022 to 2031. Endoscopic ultrasound is a medical procedure in which endoscopy is combined with ultrasound to obtain images of the internal organs in the chest, abdomen and colon. It can be used to visualize the walls of these organs or to look at adjacent structures

The growth of the global Endoscopic Ultrasound Market Sizes majorly driven by the increase in incidences of gastrointestinal disorders, increasing prevalence of chronic diseases, and rise in the number of surgical operations. For instance, according to Cancer.Net, a leading cancer information platform, an estimated 1,880,725 people were diagnosed with colorectal cancer in 2020. In addition, the increase in demand for advanced diagnostic technology and the rise in healthcare expenditures of people contribute to the growth of the Endoscopic Ultrasound Market Size.

Furthermore, the increase in the geriatric population drives the Endoscopic Ultrasound Market Growth. For instance, as per the report by Eurostat, the statistical office of the European Union, in 2021, more than 20.8 % of the EU population was aged 65 and over. Geriatric peoples are more prone to chronic diseases and gastrointestinal tract infections. In addition, geriatric people have the lower digestive ability. Thus, the increase in the geriatric population drives the growth of the Endoscopic Ultrasound Industry.

Moreover, the rise in demand for endoscopic ultrasound (EUS), product launch, and the presence of key players contributes to the growth of the Endoscopic Ultrasound Industry. In addition, an increase in R&D activities or the development of advanced endoscopic ultrasound (EUS) contributes to the growth of the market. For instance, SonoScape Medical., a leading diagnostic device company, has announced the launch of the linear echoendoscope EG-UC5T. SonoScape’s linear-array echoendoscope EG-UC5T fulfills and exceeds the most sought-after requirement from the medical team, leveling up the vision and achievement behind the wall of the GI tract.

Furthermore, an increase in obesity owing to a sedentary lifestyle and a rise in alcoholism propels the growth of the market. For instance, according to a report by the Centers for Disease Control and Prevention (CDC) published on January 2022, an estimated 4.5 million adults diagnosed with liver disease. Obesity is associated with gastrointestinal diseases and inflammatory bowel disorders. In addition, alcoholism is responsible for liver cirrhosis and pancreatitis.

The Endoscopic Ultrasound Market Trends such as growth in the number of hospitals, increase in access to healthcare facilities globally, and increased healthcare expenditure drives the growth of the EUS Market. For instance, according to American Medical Association (AMA), health spending in the U.S. increased by 9.7% in 2020 to $4.1 trillion or $12,530 per capita. Moreover, rise in the government initiatives to provide improved healthcare facilities propels the growth of the market. In addition, an increase in private hospital sectors, medical tourism, and ambulatory surgical clinics drive the growth of the market. Medical tourism provides healthcare services at a lower cost, which contributes to the adoption of medical services.

The endoscopic ultrasound (EUS) market is segmented into Product, Application, and End user.

By products, the market is classified into endoscopes, ultrasound probes, ultrasonic processors, imaging systems, needles, and accessories. The endoscope segment further contributes to the radial endoscope and linear endoscope. Depending on the application, the market is divided into oncology, pancreatic conditions, and others. By end user, the market is classified into hospitals, ambulatory surgery centers, and others.

By region, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and the Rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Arabia, South Africa, and LAMEA).

Depending on the product, the endoscopes segment dominated the Endoscopic Ultrasound Market Share in 2021, and this trend is expected to continue during the Endoscopic Ultrasound Market Forecast period, owing to improvements in health care infrastructure and the prevalence of acute diseases. However, the needles segment is expected to witness considerable growth during the forecast period, due to the increase in the number of procedures and an increase in awareness of minimally invasive diagnosis.

Based on application, the pancreatic conditions segment dominated the Endoscopic Ultrasound Market Share in 2021, and this trend is expected to continue during the forecast period, owing to an increase in the number of physicians and a rise in the prevalence of pancreatitis. However, the pancreatic conditions segment is expected to witness considerable growth during the forecast period, due to the prevalence of cancer.

By end user, the hospital segment dominated the market in 2021, and this trend is expected to continue during the forecast period, owing to a rise in the number of hospitals and government initiatives to improve healthcare infrastructure. However, the ambulatory surgical center segment is expected to witness considerable growth during the forecast period, due to the growing popularity of ambulatory surgical centers and the increase in the prevalence of chronic diseases.

Depending on the region, North America garnered a major share in the endoscopic Ultrasound (EUS) market in 2021 and is expected to dominate the global market during the forecast period, owing to a rise in the incidence of chronic diseases, well-developed healthcare infrastructure, and presence of key players. However, Asia-Pacific is expected to register significant growth, owing to the rise in the incidence of digestive diseases, improvements in the healthcare infrastructure, and the presence of a high population base.

Key Benefits For Stakeholders

• This report provides a quantitative Endoscopic Ultrasound Market Analysis of the market segments, current trends, estimations, and dynamics of the endoscopic ultrasound EUS Market analysis from 2021 to 2031 to identify the prevailing Endoscopic Ultrasound Market Opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the endoscopic ultrasound (eus) market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global endoscopic ultrasound (eus) market trends, key players, market segments, application areas, and market growth strategies.

  Endoscopic Ultrasound (EUS) Market Report Highlights

Aspects	Details
Market Size By 2031	USD 2.2 billion
Growth Rate	CAGR of 6.1%
Forecast period	2021 - 2031
Report Pages	300
By Product	Endoscopes Type Radial endoscope Linear endoscope Ultrasound probes Ultrasonic processors Imaging system Needles Accessories
By Application	Oncology Pancreatic conditions Others
By End user	Hospitals Ambulatory surgery centers and Clinics others
By Region	North America  (U.S., Canada, Mexico) Europe  (Germany, France, UK, Italy, Spain, Rest Of Europe) Asia-Pacific  (Japan, China, Australia, India, Rest Of Asia-Pacific) LAMEA  (Brazil, Saudi Arabia, South Africa, Rest Of LAMEA)
Key Market Players	Medtronic, Inc., Stryker Corporation, Sonoscape Medical Corp., cook medical, CONMED Corporation, Boston Scientific Corporation, Olympus Medical, Limaca Medical, pentax medical, Smith & Nephew plc

Analyst Review

This section provides the opinions of the top-level CXOs in the endoscopic ultrasound (EUS) market. According to the CXOs, the endoscope is a long, thin, flexible tube with a camera and light on the end. An ultrasound probe attached to an endoscope creates pictures of organs, tissues, and blood arteries by emitting sound waves. Endoscopic ultrasound (EUS) is used to detect pancreatic cancer, colon cancer, as well as cancer that's spread to other parts of the body. Endoscopic ultrasound (EUS) can also detect inflammatory bowel disease (IBD), pancreatitis, and other causes of abdominal pain.

The factors such as an increase in the prevalence of gastrointestinal diseases, a rise in endoscopic ultrasound (EUS) approvals, and a surge in R&D activities for the development of endoscopic ultrasound (EUS) drive the growth of the endoscopic ultrasound (EUS) market.

In addition, an upsurge in the geriatric population and a rise in awareness about minimal invasive diagnostic techniques contribute to the growth of the endoscopic ultrasound (EUS) market. North America is expected to witness the highest growth, in terms of revenue, owing to the rise in incidences of colon cancer, the presence of key players in the manufacturing & development of endoscopic ultrasound (EUS) devices, and the surge in the number of hospitals in the region. However, a lack of trained physician and endoscopists are projected to hamper the growth of the market.

Author Name(s) : Prathmesh Santosh Bhasme | Roshan Deshmukh

Related Tags

• Endoscopy
• Medical Imaging
• Surgical Equipment