Global Endoscopic Ultrasound Market Size To Exceed USD 3.11 Billion by 2033
According to a research report published by Spherical Insights & Consulting, The Global Endoscopic Ultrasound Market Size is Expected to Grow from USD 1.48 Billion in 2023 to USD 3.11 Billion by 2033, at a CAGR of 7.71% during the forecast period 2023-2033.
Browse 210 Market Data Tables And 45 Figures Spread Through 190 Pages and In-Depth TOC On the Global Endoscopic Ultrasound Market Size, Share, and COVID-19 Impact Analysis, By Product (Needle, Endoscope), By Application (Gastrointestinal Cancer, Lung Cancer) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033.
The global market for goods and services associated with endoscopic ultrasound procedures, medical operations that combine endoscopy and ultrasound to visualize the gastrointestinal tract and surrounding tissues, is known as the Endoscopic Ultrasound (EUS) Market. Endoscopic ultrasound (EUS) is a procedure that combines endoscopy and ultrasound to visualize the gastrointestinal (GI) tract and surrounding organs. It uses a specialized endoscope with an ultrasound probe to create detailed images of the GI wall, nearby tissues, and organs. This allows doctors to diagnose and sometimes treat conditions like pancreatic cancer, chronic pancreatitis, and gallstones. Furthermore, Numerous factors, including the growing incidence of pancreaticobiliary malignancies, technological advancements, and the rising prevalence of gastrointestinal cancer, are contributing to the market's growth. Developed for superficial and submucosal imaging of the esophagus, Gastrointestinal Endoscopy is a new ultrasound capsule endoscopy (USCE) that combines ultrasound imaging and white light into a secured capsule. Additionally, a range of tools was created for interventional endoscopic ultrasound, including stents, guidewires, and puncture needles, devices for dilatation of the tract, and troubleshooting tools. However, a lack of skilled workers, high upfront investment costs, and possible supply chain vulnerabilities are some of the issues facing the endoscopic ultrasound (EUS) market.
The endoscope segment dominated the largest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the product, the global endoscopic ultrasound market is divided into needle and endoscope. Among these, the endoscope segment dominated the largest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. A growing number of echo-endoscopy procedures, growing awareness of the advantages of early disease detection, and advancements in endoscope technology are some of the reasons for this dominance.
The lung cancer segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the application, the global endoscopic ultrasound market is divided into the gastrointestinal cancer and lung cancer. Among these, the lung cancer segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. Numerous factors, including tobacco use, prior radiation therapy, and radon gas exposure, can result in lung cancer. About 28.3 million adults in the United States smoke cigarettes, 3.08 million middle and secondary school students use at least one tobacco product, including e-cigarettes, and an estimated 1,600 young people in the country smoke their first cigarette every day, according to data released by the Centers for Disease Control and Prevention in May 2023.
North America is anticipated to hold the highest share of the global endoscopic ultrasound market over the projected period.
North America is anticipated to hold the highest share of the global endoscopic ultrasound market over the projected period. Its expansion is aided by well-established healthcare infrastructure, rising government and major regional investment in R&D, and advancements in endoscopic ultrasound technology in North America. For instance, Cook Medical introduced the EchoTip ProCore, a high-resolution ultrasound biopsy needle, in July 2023. This tool enables physicians to use minimally invasive endoscopic ultrasound procedures to obtain larger tissue samples from inaccessible areas.
Asia Pacific is estimated to grow at the fastest CAGR in the global endoscopic ultrasound market during the forecast period. The demand for endoscopic ultrasound is anticipated to increase in the Asia Pacific region due to rising rates of colorectal cancer and growing public awareness of the importance of early disease detection. Additionally, Asia Pacific is seeing an increase in demand for endoscopic ultrasound due to the growing geriatric population.
Company Profiling
Major vendors in the global endoscopic ultrasound market are Boston Scientific Corporation, Medtronic, ConMed, Olympus Corporation, Steris, SonoScape Medical Corp., PENTEX Medical, FUJIFILM India Private Limited, and Cook Medical, and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at the global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global endoscopic ultrasound market based on the below-mentioned segments:
Global Endoscopic Ultrasound Market, By Product
Global Endoscopic Ultrasound Market, By Application
- Gastrointestinal Cancer
- Lung Cancer
Global Endoscopic Ultrasound Market, By Regional
- North America
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa