Duodenoscopes Market to See Incredible Growth of 6.83% by 2023

Duodenoscopes Market Information: By Types, (Rigid Duodenoscopes, and Flexible Duodenoscopes), By Application, (Diagnosis, and Treatment), By End User - Global Forecast till 2023

Market Research Future adds new report of “Duodenoscopes Market Research Report - Global Forecast till 2023” it contains Company information, geographical data and Table of Content

Duodenoscope is a flexible, lighted weighted tubes that are released through the mouth, throat, and stomach into the top of the small intestine. These are specially designed side viewing endoscope for endoscopic retrograde cholangiopancreatography (ERCP) procedures, which will help to diagnose diseases associated with pancreas and bile ducts with the help of fluoroscopic imaging procedure.

Competitive Analysis:

Some of the key players in this market are FUJIFILM Holdings Corporation, KARL STORZ GmbH & Co. KG, PENTAX Medical, Olympus Corporation, Custom Ultrasonics, Inc., ENDOMED, and SonoScape.

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Key Findings

• The global healthcare BPO market is expected to reach USD 4,815.50 million by 2023 at a CAGR of 6.83%.

• In flexible duodenoscopes, video duodenoscope is the fastest growing segment, which is projected grow at a CAGR of 7.49% during the forecast period from 2017-2023.

• Americas hold the largest share of the duodenoscopes market and is expected to reach USD 4,147.66 million by 2023.

• Asia Pacific is the fastest growing region across the globe and expected to grow at a rate of CAGR 11.01% during the forecast period.

Market Highlight:

Duodenoscope is a more complex device as compared to other endoscopes and is tough to clean and disinfect. These devices play an essential role in the treatment of patients, but there has been some evidences, which showed that some patients were infected with hospital born and other infectious agents, including antibiotic drug-resistant infections due to these devices. In 2013, the Centers for Disease Control and Prevention (CDC) alerted the FDA regarding possible association of multidrug resistant bacterial infections and duodenoscopes. ERCP was associated with infections in 135 patients from January 2013 to December 2014.

The global duodenoscopes market is growing moderately due to increasing prevalence of pancreatic, bile duct cancer tumors, and various gastrointestinal. Additionally, increasing research and development, technological advancements to identify the causes and risk factors associated with transmission of infectious agents from duodenoscopes, and developing new solutions to minimize patient exposure to such infection likely to drive the market growth over the review period.

According to the latest WHO report (World Health Organization), in 2015, 8.8 million people died across the globe from cancer, which is nearly 1 in 6 of all the global deaths. According to the WHO, approximately 70% of deaths from cancer occur in low- and middle-income countries. Moreover, according to a report by the World Gastroenterology Organization, (2014), 35-40% of world’s total population had acute or chronic GI complication.

However, increasing FDA recalls for duodenoscopes due to challenging cleaning and high-level disinfection procedures and rising multidrug-resistant bacterial infections may affect the growth of the global duodenoscopes market negatively.

The global duodenoscopes market is expected to grow at a CAGR of 6.83% during the forecast period 2017-2023.

Market Segmentation:

The global duodenoscopes market is segmented on the basis of types, application, and end user.

On the basis types, it is segmented into rigid duodenoscopes and flexible duodenoscopes. The flexible duodenoscopes is further segmented into fiber-optic duodenoscope and video duodenoscope. On the basis of application, it is segmented into diagnosis and treatment. The diagnosis is further segmented into detect abberations, trauma or surgical complications in bile or pancreatic ducts, tumors or cancers of the bile ducts, inflammation of the pancreas, chronic pancreatitis, pancreatic pseudocysts, and tumors or cancers of the pancreas. The detect abberations is further segmented into bile duct, cystic duct, hepatic ducts, and pancreatic ducts. Treatment is further segmented into cannulation, sphincterotomy, stone management, and drainage of the bile duct. On the basis of end user, it is segmented into gastrologists, general and pediatric surgeons, hospitals, speciality clinics, and others.

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Regional Analysis

The Americas dominates the global duodenoscopes market owing to the presence of strong economic condition, huge development in the healthcare domain, and focus of research institutions on updating technology for new and advanced diagnosis and treatment methods. Moreover, advanced hospitals infrastructures, and availability of skilled healthcare professional adding fuel to the growth of the market.

Europe holds the second position in the market on the basis of increasing emphasis on rapid diagnosis and treatment of cancer, and gastrointestinal diseases, changing lifestyle, increasing prevalence of cancer among geriatric population. As per Organization for Economic Co-operation and Development (OECD), Germany spent 11% of the total GDP on healthcare in 2013, which was 10.8% in 2012, which drives the growth of the market in this region.

Asia Pacific is the fastest growing market owing to more number of developing nations present in this region, for instance, countries like India and china. These countries are encouraging the growth of the healthcare domain. Furthermore, increasing patient population from cancer and gastrointestinal diseases in developing countries will directly increase the demand for various diagnosis & treatment methods, which, in turn, will boost the growth of the market.

The Middle East & Africa is expected to hold the least market share due to less availability of medical facilities, and less development in the healthcare domain. However, countries such as Qatar and Kuwait are focusing more on the healthcare domain and developing medical facilities, which will boost the market of this region.

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