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Continuous innovation remains a cornerstone of success in the ultrasound gastroscope market. To stay ahead of competitors in terms of market capture, companies must invest in R&D activities, keep up-to-date with technological advancements, and redesign their devices accordingly. These enhancements include advanced imaging techniques such as high-resolution ultrasound scanning, improved ergonomics, and better user interfaces, which lead to increased efficiency during diagnostics using ultrasound gastroscopes. Through these improvements, continuous improvement guarantees that businesses are able to provide health professionals with cutting-edge tools that will help them improve patient care.
The market environment for ultrasound gastroscopes is dynamic due to several factors that influence its growth trajectory. Modern healthcare relies on specialized medical equipment used for diagnostic imaging of the gastrointestinal (GI) tract. The rising prevalence rates of GI disorders, together with the growing importance of early accurate diagnosis, drive demand for ultrasound gastroscopes. In fact, this kind of development changes the dynamics involved in this industry completely over time as they continue to be popular among key players in this field today and, even years from now, still maintain an upward trend towards more sales than ever before. Technological advances play a major role in shaping how the ultrasound gastroscopes market operates. Innovations within imaging technologies, such as high-frequency ultrasound and advanced image processing software, improve the clarity and accuracy of GI tract imaging. The advent of tiny, flexible gastroscopes fitted with ultrasound technology enhances patient comfort and diagnostic capabilities. This has led to diverse technological development in the medical field, which is crucial for it to remain competitive.
Ultrasound Gastroscopes Market Highlights:
Ultrasound Gastroscopes Market Scenario:
The Ultrasound Gastroscopes market is projected to reach USD 592.61 Million by 2030 at 5.90% CAGR during the forecast period 2022-2030.
Ultrasound Gastroscopes are used by surgeons and physicians to diagnose and treat various conditions of the gastrointestinal tract such as gastrointestinal cancers, pancreatic conditions, and others. The factors such as the rising prevalence of gastric cancers, including upper and lower GI cancers, higher accuracy and specificity of endoscopy ultrasound techniques for the diagnosis of these conditions, technological advancements are some of the major factors propelling the ultrasound gastroscopes market. According to the National Cancer Institute, there were about 26,240 cases of stomach cancer reported in the US in 2017. Likewise, as per the data by the American Cancer Society (ACS), nearly 53,070 people in the US were diagnosed with pancreatic cancer in 2016, and an estimated 41,000 deaths were related to pancreatic cancer in 2016. Despite the drivers, the lack of skilled professionals and high cost associated with this device are considered to hamper the growth of the market over the forecast period.
Moreover, major companies in the market are involved in strategic collaborations, and new product launches to brace their position in the market. For instance, in August 2017, Pentax Medical launched Slim Linear Ultrasound Endoscope (EG-3270UK) in the US.
Segmentation:The Global Ultrasound Gastroscopes Market has been segmented into product type, application, procedure, and end-user. The market on the basis of product type has been segmented into optic ultrasound gastroscope, linear array ultrasound gastroscope, endoscopic ultrasound needle, and others. Based on application, the market has been segmented into oncology, pancreatic conditions, and others. Further, the oncology segment has been segmented into upper gastrointestinal (GI) oncology and lower gastrointestinal (GI) oncology. On the basis of procedure, the global market has been segmented into upper endoscopy ultrasound (EUS), lower endoscopy ultrasound (EUS), and Others. Furthermore, based on end-user, the market has been segmented into hospitals and clinics, ambulatory surgical centers, and others.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The ultrasound gastroscopes market in the Americas has further been segmented into North America and Latin America, with the North American market divided into the US and Canada. The European ultrasound gastroscopes market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The ultrasound gastroscopes market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The ultrasound gastroscopes market in the Middle East & Africa has been segmented into the Middle East and Africa.
Key Players
- Olympus Corporation
- Fujifilm Holdings
- Karl Storz Endoscopy
- Cook Medical
- Medtronic plc
- Boston Scientific Corporation
- Esaote Spa
- Conmed Corporation
- Medi-Globe GmbHÂ
Regional Market Summary
Global Ultrasound Gastroscopes Market Share (%), by Region, 2017
Source: World Health Organization (WHO),
Geographically, the Americas is expected to dominate the global ultrasound gastroscopes market due to the rising demand for advanced diagnostic techniques especially in oncology, availability of new and advanced products in the US, and growing prevalence of pancreatic cancers. According to the Canadian Cancer Society, in 2017, about 3,500 Canadians were diagnosed with stomach cancer.
Europe is likely to show a considerable amount of growth in the global ultrasound gastroscopes market during the forecast period. The market growth in this region is due to the increasing incidence of gastrointestinal diseases and the growing geriatric population. According to the report by the United European Gastroenterology published in 2014, mortality due to pancreatic cancer is higher in parts of the UK, Scandinavia, Eastern Europe, and the Netherlands. Additionally, the growing government support for research & development and availability of funds for research is expected to support the market growth in the region.
Asia-Pacific is the fastest-growing market for ultrasound gastroscopes owing to the presence of rapidly developing healthcare technology, huge patient population, and high healthcare expenditure. Moreover, increasing demand for new treatment methods in countries such as India and South Korea is likely to fuel the market growth in the region.
On the other hand, the Middle East & Africa has the lowest share of the market due to the poor access to treatment, and limited screening and diagnostic services for disease management in the region.Market Segmentation:
By Product Type
- Optic Ultrasound Gastroscope
- Linear Array Ultrasound Gastroscope
- Endoscopic Ultrasound Needle
- Others
By Application
- Oncology
- Upper GI Oncology
- Lower GI Oncology
- Pancreatic Conditions
- Others
By Procedure
- Upper Endoscopic Ultrasound (EUS)
- Lower Endoscopic Ultrasound (EUS)
- Endoscopic Ultrasound-Guided Fine-Needle Aspiration
- Others
By End-User
- Hospitals and Clinics
- Ambulatory Surgical Centers
- Others
By Region
- Americas
- North America
- US
- Canada
- Latin America
- North America
- Europe
- Western Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Western Europe
- Eastern Europe
- Western Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Middle East
- Africa
Intended Audience
- Medical Device Companies
- Research and Development (R&D) Companies
- Government Research Institutes
- Academic Institutes and Universities
- Venture Capitalists
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