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The Ultrasound Gastroscopes Market is shaped by many factors that influence its dynamics and growth. One of the most important is the growing prevalence of gastrointestinal disorders and diseases. Since digestive health continues to be a major global concern, the request for modern diagnostic tools, including ultrasound gastroscopes, has been boosted. These include technological advances that steer much of the design and functionality of ultrasound gastroscopes. Ongoing imaging technology innovations have enhanced the diagnostic accuracy and capabilities of these devices, including high-frequency ultrasound and advanced software features. This results in improved image quality for healthcare providers, which proves that gastrointestinal anatomy can be used in real time for more effective procedures.
Government regulations and standards are key influencers on how this market behaves towards ultrasound gastroscopes. Therefore, medical device safety and efficacy are stringently controlled by regulatory bodies such as the FDA(EU) or EMA(U.S). With an increase in knowledge about preventive healthcare, there is a rising demand for ultrasound gastroscopies, among other diagnostic technologies. To realize timely intervention and better patient outcomes, it is vital to screen for GI conditions early enough; people's attitude towards health care has changed, becoming proactive, making screening a routine and increasing demand for Diagnostic Procedures, leading to expansion at very alarming rates.
Economic factors are one of those examples affecting preference adoption with regard to using this technology, i.e., Healthcare spending; reimbursement policies have a big say on whether or not patients can easily access these diagnosis tools with ease at their disposal. The other determining factor in the market is that the Minimally Invasive Treatment trend has been taking root over time where patients are opting for systems like Ultrasound Gastroscope, which would help visualize their systems without any invasive surgeries being carried out, hence reducing pain during operations while ensuring less recovery period and minimized risks associated with treatment procedures. Strategic collaborations between medical device manufacturers, research institutions, and healthcare providers play an instrumental role in driving innovation within this market.
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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