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Endoscopic Ultrasound (EUS) market by 2023
PORTLAND, OR, UNITED STATES, November 28, 2024 /EINPresswire / -- The global endoscopic ultrasound (EUS) market is experiencing significant growth, projected to expand from $1.2 billion in 2021 to $2.2 billion by 2031, with a compound annual growth rate (CAGR) of 6.1% during the forecast period from 2022 to 2031. This medical procedure combines endoscopy with ultrasound technology, enabling healthcare professionals to visualize internal organs and adjacent structures within the chest, abdomen, and colon.
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Key Drivers of Market Growth
Several factors are contributing to the robust growth of the EUS market:
.Increasing Incidence of Gastrointestinal Disorders: The rise in gastrointestinal diseases, including colorectal cancer-which affected approximately 1.88 million individuals in 2020-has heightened the demand for diagnostic procedures like EUS
.
.Rising Prevalence of Chronic Diseases: Chronic conditions such as obesity and liver diseases are on the rise, necessitating advanced diagnostic tools
. For example, around 4.5 million adults in the U.S. were diagnosed with liver disease as of January 2022
.
.Geriatric Population Growth: The aging population is more susceptible to chronic diseases and gastrointestinal issues. In 2021, over 20.8% of the EU population was aged 65 and above, further driving demand for EUS
.Technological Advancements: Continuous innovations and product launches in the EUS sector enhance diagnostic capabilities. For instance, SonoScape Medical's launch of the linear echoendoscope EG-UC5T exemplifies advancements aimed at improving visualization during procedures
.Healthcare Infrastructure Expansion: The increase in hospitals and healthcare facilities globally, along with rising healthcare expenditures, supports market growth. In the U.S., health spending surged by 9.7% to $4.1 trillion in 2020
.
Market Segmentation
The EUS market is categorized based on product type, application, and end-user:
.By Product:
.Endoscopes
.Ultrasound Probes
.Ultrasonic Processors
.Imaging Systems
.Needles
.Accessories
.By Application:
.Oncology
.Pancreatic Conditions
.Other Applications
.By End User:
.Hospitals
.Ambulatory Surgical Centers
.Other Healthcare Facilities
Regional Insights
Geographically, North America holds a substantial share of the EUS market due to well-established healthcare infrastructure and a high incidence of chronic diseases. However, significant growth is anticipated in the Asia-Pacific region driven by improvements in healthcare access and a large population base
Summary of Market Trends
.Dominance of Endoscopes: The endoscope segment led the market share in 2021 and is expected to maintain this position due to ongoing advancements in healthcare technology
.Growth in Ambulatory Surgical Centers: The ambulatory surgical center segment is projected to grow significantly as these facilities become increasingly popular for minimally invasive procedures
.Government Initiatives: Increased government support for healthcare services enhances market dynamics by improving access to diagnostic tools like EUS
In conclusion, the global endoscopic ultrasound market is poised for substantial growth driven by technological advancements, demographic shifts, and an increasing prevalence of gastrointestinal disorders. As healthcare systems evolve and adapt to these challenges, EUS will play a critical role in enhancing diagnostic accuracy and patient outcomes.
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.