Endoscopic Ultrasound (EUS) Market Size, Share & Industry Analysis, By Product (Endoscopes (Radial Endoscopes and Linear Endoscopes), Ultrasound Probes, Ultrasonic Processors, Imaging Systems, Needles, and Accessories) By Application (Oncology Pancreatic Conditions, and Others), By End User (Hospitals, Ambulatory Surgery Centers, Others) and Regional Forecast 2019-2032

The global endoscopic ultrasound market size stood at USD 830.6 Million in 2018 and is projected to reach USD 2,023.6 Million by 2032, exhibiting a CAGR of 6.6% during the forecast period (2018-2032). North America dominated the global market with a share of 35.75% in 2018.

Endoscopic ultrasound, also known as echo-endoscopy or endoscopic ultrasound, is a type of minimally invasive equipment used for the assessment of digestive and lung diseases. A specialized endoscope is used to produce detailed images of the walls and lining of the digestive tract and nearby organs using sound waves of high frequency. EUS can be used for both diagnostics and therapeutics.

The applications of endoscopic ultrasound equipment are increasing gradually.  It is extensively employed in the diagnosis and treatment of gastrointestinal diseases and stomach cancer. The rising prevalence of gastric cancer is accelerating the demand for echo-endoscopy equipment. Furthermore, technological advancements and strategic distribution agreement between key market players are anticipated to increase the global EUS market in the forecast years.

The rising number of endoscopic procedures and an increase in number of trained professionals are important factors for the adoption of endoscopic ultrasound products. In May 2019, The American Society for Gastrointestinal Endoscopy and the Olympus Corporation of the Americas engaged in a joint partnership to train endoscopists for the diagnostic use of EUS, which is expected to augment the market.

MARKET DRIVERS

“Growing Prevalence of Gastrointestinal Diseases to Fuel Demand for Endoscopic Ultrasound Products”

The rising prevalence of gastrointestinal diseases worldwide is one of the primary reasons for the growth of the market. Gastrointestinal cancers are the leading cause of death in the U.S. and the second leading cause of death globally. According to the American Cancer Society, about 27,510 cases of stomach cancer will be diagnosed in the U.S. in 2019. Thus, there is a huge unmet need for early diagnosis of gastrointestinal diseases which is expected to propel the demand for such endoscopic ultrasound products during the forecast period.

Furthermore, rising geriatric population and a significant increase in endoscopic services and ultrasound endoscopic surgeries are anticipated to increase the endoscopic ultrasound market size during the forecast period.

“New Product Launches to Drive the Adoption of EUS”

The endoscopic ultrasound industry is witnessing the launch of technologically advanced products that are able to improve the clinical outcomes. Advancement in technologies such as EUS-guided fine-needle aspiration has now become one of the crucial and minimally invasive tools offering higher accuracy and early diagnosis of pancreatic cancer. This has contributed to the significant endoscopic ultrasound market growth

In March 2019, ESAOTE launched MyLab X8 with a cutting edge technology providing versatile and high-performance ultrasound platforms to support hospitals and clinics for quality patient care is anticipated to accelerate the EUS market.

SEGMENTATION

By Product Analysis

“Endoscopes Segment is Estimated to Generate Maximum Revenue”

On the basis of product type, the market can be segmented into endoscopes, ultrasound probes, ultrasound processors, imaging systems, endoscopic ultrasound needles, and accessories. The endoscopes segment is further divided into radial endoscopes and linear endoscopes. The endoscopes segment accounted for the maximum market share in 2018 and is estimated to dominate the market throughout the forecast period. An increasing number of echo-endoscopy procedures and rapid penetration of key companies such as Olympus Corporation and Pentax Medical in developing countries are projected to boost the growth of the endoscopes segment during the forecast period.

The ultrasound probes segment is projected to witness significant growth owing to the introduction of high frequency ultrasound probes and increasing import and export activities. Rising prevalence of stomach cancer and rapid adoption of EUS-guided fine-needle aspiration are factors attributable to the expansion of the needles segment.

Advancements in endoscopic ultrasound and increasing awareness about the diagnosis of gastric cancer are primary reasons contributing to the growth of the imaging systems and ultrasound processors segment.

By Application Analysis

“Demand for Minimally Invasive Diagnostic Tools to Boost the Oncology Segment”

In terms of application, the endoscopic ultrasound market is categorized into oncology, pancreatic conditions and others. The oncology segment is projected to report a remarkable growth during the forecast period due to the rapid adoption of accurate and minimally invasive diagnostic tools and a rising incidence of gastrointestinal cancer.

Improved accessibility to medical diagnostic care for patients in emerging countries and the rising awareness about the chronic conditions associated with the pancreas are the factor impelling the growth of the pancreatic conditions segment. The growth of the others segment is likely to increase owing to the increasing application of EUS in both therapeutics and diagnostics.

By End User Analysis

“Improved Availability of Well-Qualified Endoscopists to Drive Hospitals Segment”

On the basis of the end user, the market is segmented into hospitals, ambulatory surgery centers, and others. The hospital segment is estimated to dominate the market throughout the forecast period owing to the favorable health reimbursement for minimally invasive procedures and increasing number of trained and qualified endoscopists. The gradual increase in number of small procedures and improving healthcare infrastructure is expected to foster the expansion of the ambulatory surgery centers segment. The growth of the other segment is mainly driven by the rising incidence of gastrointestinal diseases and the rapid adoption of sedentary lifestyles.

REGIONAL ANALYSIS

North America generated a revenue of USD 296.9 Million in 2018 and is projected to dominate the market throughout the forecast period. Demand for technologically advanced tools for treatment and diagnostics and a growing number of endoscopy surgical procedures are the factors responsible for the dominance of North America in this industry. According to the National Center for Biotechnology (NCBI), it is estimated that around 11% of the U.S. population suffers from chronic digestive diseases and the prevalence rate among 65 years and above is as high as 35%.  Moreover, an estimated 18 million endoscopic procedures are performed annually in the United States. This is expected to favor the demand for these equipment in the U.S. by 2026.

Active government support for the timely diagnosis and treatment of cancer and strategic collaborations are estimated to expand the endoscopic ultrasound market in Europe. Furthermore, the rapid adoption of EUS in hospital settings is expected to augment the market in Italy.

In the Asia Pacific region, the demand for echo-endoscopy equipment is poised to surge during the forecast period owing to the well-framed guidelines in China, rising ageing population, and increasing importance of early diagnosis of cancer. Furthermore, the strong position of Olympus Corporation and Fujifilm Holdings in Japan is likely to favor the market growth in Asia Pacific. Huge unmet needs, expansion of distribution network of key players in emerging nations, and increasing healthcare spending are primary factors augmenting the market in Latin America and the Middle East and Africa.

INDUSTRY KEY PLAYERS

“Olympus Corporation, Pentax Medical, and FUJIFILM Holdings Corporation to Lead the Market”

The endoscopic ultrasound is a consolidated market with Olympus Corporation, Pentax Medical, and FUJIFILM Holdings Corporation having the dominant position. In terms of revenue, Olympus Corporation accounts for the maximum market share, which is mainly due to the diversified product portfolio and established distribution network in both developed and emerging countries. On the other hand, Pentax Medical also accounts for a significant share of the market which can be attributed to the company’s strategic partnership with Hitachi for EUS products in the U.S. and Europe. 

List of Key Companies Covered:

• Olympus Corporation


• PENTAX Medical


• FUJIFILM Holdings Corporation


• Cook Medical


• Boston Scientific Corporation


• Medtronic


• Medi-Globe GmbH


• CONMED Corporation

REPORT COVERAGE

The gradual shift toward minimally invasive procedures and a rising prevalence of gastrointestinal diseases has boosted the demand for endoscopic ultrasound products. Furthermore, rising ageing population and an increase in trained professionals are expected to fuel the market during the forecast period. The report provides qualitative and quantitative insights on the global endoscopic ultrasound market trends and detailed analysis of global endoscopic ultrasound market size & growth rate for all possible segments in the market.

Along with this, the report provides an elaborative analysis of the global market dynamics and competitive landscape. Various key insights presented in the report are the technology advancements in EUS, pricing analysis, an overview of diagnostic and therapeutic roles of EUS, brand analysis, competitive landscape, and company profiles.

Report Scope & Segmentation

INDUSTRY DEVELOPMENT:

• August 2017: PENTAX Medical announced the launch of the Slim Linear Ultrasound Endoscope (EG-3270UK) in the U.S.


• June 2018: Olympus Corporation announced a strategic alliance with Hitachi Medical Systems Europe as a result of which Olympus’ endoscopic ultrasound sonography (EUS) scopes will now be compatible with Hitachi’s ultrasound system ARIETTA 850 ENDOSCOPIC.


• May 2018: Olymbus Corporation and Hitachi Healthcare Americas announced a distribution agreement in the U.S. for ARIETTA 850, an ultrasound processor.