Endoscopic Ultrasonography Market to Hit US$1.93 Billion by 2029 with 7.1% CAGR | MarketsandMarkets Trademark

Browse 342 market data Tables and 63 Figures spread through 306 Pages and in-depth TOC on "Endoscopic Ultrasonography (EUS) Market by Product (Endoscopes, Ultrasound Processors, Ultrasound Needles, Probes), Type (Diagnostic, Therapeutic), Application (Oncology, GI, End User (Hospitals, Ambulatory Surgical Center) - Global Forecast to 2029
The global endoscopic ultrasonography market [https://www.marketsandmarkets.com/Market-Reports/endoscopic-ultrasonography-eus-market-19121066.html?utm_source=abnewswire.com&utm_medium=paidpr&utm_campaign=endoscopicultrasonographyeusmarket], valued at US$1.28 billion in 2023, is forecasted to grow at a robust CAGR of 7.1%, reaching US$1.37 billion in 2024 and an impressive US$1.93 billion by 2029. The growth in the endoscopic ultrasonography market can be attributed to the factors, including increasing investments, funds, and grants by governments and other organizations, rising focus of hospitals to expand endoscopic ultrasonography units and bring advancements in endoscopic ultrasonography technologies. At the same time, high costs of endoscopic ultrasonography procedures can restrain the growth of this market during the forecast period.

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Browse in-depth TOC on "Endoscopic Ultrasonography Market"

343 - Tables

64 - Figures

309 - Pages

Based on product, the endoscopic ultrasonography market is divided into endoscopes, ultrasound processors, ultrasound probes, ultrasound needles, and accessories. As of 2023, the endoscopes segment accounted for the largest share in the global endoscopic ultrasonography market. The market share can be attributed to the factors rising prevalence of gastrointestinal disorders, rising demand for minimally invasive surgeries, and improved ultrasound imaging capabilities.

Based on the type, the endoscopic ultrasonography market includes segments such as diagnostics and therapeutics. Among these, the diagnostics segment accounted the for the largest share of the overall endoscopic ultrasonography market in 2023. This dominance is primarily attributed to advancements in endoscopic ultrasonography technologies, such as high-resolution imaging, for the early detection and management of gastrointestinal diseases, and other related disorders.

Based on application, the endoscopic ultrasonography market is divided into oncology, gastrointestinal disorders, and other applications. As of 2023, the oncology segment accounted for the largest share in the global endoscopic ultrasonography market. The market share can be attributed to the factors such as increasing prevalence of gastrointestinal (GI) cancer, pancreatic cancer, and lung cancer, and technological advancements in endoscopic ultrasonography devices, that enhance the ability to detect and stage cancers with the help of high-resolution imaging and real-time elastography.

Based on end users, the endoscopic ultrasonography market is segmented into hospitals, ambulatory surgery centers and others. The hospitals end user segment accounted for the largest share in the endoscopic ultrasonography market in 2023. This dominance can be attributed to several driving factors. Hospitals tend to invest more in the advanced technologies and have skilled medical professionals to carry out complex diagnostic and procedures. Moreover, growing geriatric population, increasingly demand for frequent medical interventions and long-term monitoring, thereby fuelling the demand for endoscopic ultrasonography procedures in hospital settings, and contributing to the market growth.

Based on the regions, in 2023, North America emerged as the dominant region in the endoscopic ultrasonography market, followed by Europe, APAC, Latin America and Middle East and Africa. This leadership position is owed to substantial investments made by hospitals towards procuring advanced endoscopic ultrasonography devices. Additionally, favourable reimbursement policies for endoscopic procedures in the US, and presence of key market players in this region, such as Olympus Corporation, Pentax Medical, and FUJIFILM Corporation, supply cutting-edge endoscopic ultrasonography devices, thereby boosting the market growth.

Meanwhile, in the Asia Pacific market, particularly in China and India, a higher CAGR is anticipated throughout the forecast period. This growth is attributed to increasing demand for minimally invasive surgical procedures, rising healthcare expenditure, increasing prevalence of cancer, and supportive government policies.

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The prominent players of global endoscopic ultrasonography market are Olympus Corporation (Japan), Medtronic (US), FUJIFILM Holdings Corporation (Japan), Boston Scientific Corporation (US), PENTAX Medical (Japan), Steris (Ireland), CONMED Corporation (US), Lepu Medical Technology(Beijing)Co., Ltd. (China), CANON MEDICAL SYSTEMS CORPORATION (Japan), Cook (US), Huaco Healthcare Technologies Co. Ltd.(China), SonoScape Medical Corp.(China), Endosound, Inc.(US), Limaca-Medical (Israel), Beijing ZKSK Technology Co., Ltd. (China), Kaigen Pharma Co., Ltd.(Japan), PIOLAX MEDICAL DEVICES, INC.(Japan), Micro-Tech Endoscopy (US), Shaili Endoscopy (India), Zhejiang Soudon Medical Technology Co., Ltd.(China), ENDO-FLEX GmbH. (Germany), Ace Medical Devices Pvt. Ltd. (India), Medi-Globe GmbH. (Arizona), Medorah Meditek Pvt. Ltd. (India), and InnerMedical Co., Ltd. (China). These companies adopted strategies such as product launches, partnerships, acquisitions, and expansions to strengthen their presence in the endoscopic ultrasonography market.

Olympus Corporation (Japan)

Olympus Corporation is one of the leading players in the endoscopic ultrasonography market, due to its wide range of endoscopic ultrasonography products. Through its endoscopic solution segment, the company offers various endoscopic ultrasonography devices, such as GI endoscopes, surgical endoscopes, endoscopic processors and probes, and their repair services. The company is focused on continuous innovations and allocates a significant portion of its revenue to research and development, thereby aiming at introduction of cutting-edge endoscopic ultrasonography products and services. For instance, in November 2023, the company introduced the EVIS X1, its most advanced endoscopic system that offers, early diagnosis and delivers minimally invasive treatments, ultimately enhancing patients' quality of life.

Medtronic (US)

Medtronic is a one of the leading medical technology companies in the endoscopic ultrasonography market, including advanced ultrasound needles designed to improve diagnostic and therapeutic procedures. Through its Medical Surgical Group segment, the company offers innovative EUS needles by addressing the evolving demands of minimally invasive procedures. For instance, in December 2023, Medtronic expanded its partnership with Cosmo Intelligent Medical Devices, leveraging AI for the GI Genius endoscopy module. This collaboration enhanced healthcare solutions globally. Moreover, with a global manufacturing and research footprint in the US, Europe, and Asia, the company ensures high-quality production and distribution of its endoscopic ultrasonography needles, to healthcare providers in over 150 countries.

Boston Scientific Corporation (US)

Boston Scientific develops, manufactures, and markets medical devices in various endoscopic ultrasonography specialties. The company maintains a robust presence across key regions including the US, Asia Pacific, and prominent European markets. Specializing in endoscopic ultrasonography products tailored for gastroenterology, pulmonary, and interventional bronchoscopy applications, the company consistently reinforces its product portfolio through strategic acquisitions. For example, in November 2022, Boston Scientific acquired Apollo Endosurgery, Inc. (US), a medical technology firm based in the US. Therefore, by leveraging its endoscopy business segment, the company develops and manufactures devices aimed at diagnosing and treating a wide spectrum of gastrointestinal (GI) and pulmonary conditions using innovative, minimally invasive technologies.

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