Surge in incidences of gastrointestinal disorders, Rise in prevalence of chronic diseases and number of surgical operations, and increase in healthcare expenditures with surged demand for advanced diagnostic technology drive the growth of the global endoscopic ultrasound (EUS) market. Based on region, North America held the highest share in 2021, contributing to more than one-third of the global endoscopic ultrasound market, and is expected to continue its dominance by 2031.
A new business intelligence report released by Allied Market Research, the global Endoscopic Ultrasound (EUS) Market size generated $1.2 billion in 2021, and is expected to reach $2.2 billion by 2031, witnessing a CAGR of 6.1% from 2022 to 2031. The report offers an in-depth analysis of changing market trends, top segments, value chain, and competitive landscape. This report provides detailed information to assist market players, stakeholders, investors, and startups in devising strategies for gaining sustainable growth and availing competitive advantage in the market.
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Covid-19 Scenario:
- The Covid-19 pandemic made a negative impact on the growth of the endoscopic ultrasound (EUS) market, owing to delay in non-urgent procedures with rise in focus on treatment of patients suffering from Covid-19 infection. Many treatments that did not need urgent attention were postponed to take care of Covid-infected patients.
- The Covid-19 pandemic presented difficulties for the pharmaceutical industry as there were disruptions in R&D activities including endoscopic ultrasound (EUS). This, in turn, impacted the overall revenue of the market.
- However, the demand for endoscopic ultrasound is expected to recover post-pandemic as regular visits to hospitals and clinics begin as vaccinations begin and the possibility of cross contamination also reduce.
- The R&D activities were affected during the pandemic due to disruptions in operations of research and healthcare institutions. The pace of development of technologically-advanced devices reduced. However, it will gain traction post-pandemic.
The research provides detailed segmentation of the global endoscopic ultrasound (EUS) market based on product, application, end user, and region. The report offers a detailed analysis of segments and sub-segments to determine the highest revenue-generating and highest-growing segments for market players and investors. Market size and forecasts are provided for segments and their sub-segments in the report to outline the steps taken for achieving the sustainable growth.
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Based on product, the endoscopes segment accounted for the highest share in 2021, contributing to more than one-fourth of the total share, and is estimated to maintain its leadership status during the forecast period. However, the needles segment is expected to manifest the highest CAGR of 6.8% from 2022 to 2031. The report also analyzes the segments including ultrasound probes, ultrasonic processors, imaging system, and accessories.
Based on application, the pancreatic conditions segment held the highest share in 2021, accounting for nearly more than half of the global endoscopic ultrasound (EUS) market, and is estimated to maintain its lead position during the forecast period. However, the oncology segment is expected to manifest the highest CAGR of 6.8% from 2022 to 2031.
Based on end user, the hospitals segment contributed to the highest share in 2021, holding nearly three-fifths of the total market share, and is expected to maintain its dominance in terms of revenue by 2031. However, the ambulatory surgery centers and clinics segment is projected to register the highest CAGR of 6.3% during the forecast period.
Based on region, North America held the highest share in 2021, contributing to more than one-third of the global endoscopic ultrasound market, and is expected to continue its dominance by 2031. However, Asia-Pacific is projected to grow at the fastest CAGR of 7.1% during the forecast period. The research also analyzes regions including Europe and LAMEA.
The research provides detailed analysis of leading players of the global endoscopic ultrasound (EUS) market. Key players analyzed in the research include Boston Scientific Corporation, Cook Medical, CONMED Corporation, Medtronic, Inc., Limaca Medical, Pentax Medical, Olympus Medical, Sonoscape Medical Corp., Smith & Nephew plc, and Stryker Corporation. The report analyzes these key players based on various parameters such as product portfolio, operating segments, business performance, and key developments and outlines different strategies such as expansion, partnerships, new product launches, and others adopted by them to raise their market penetration and consolidate the position in the global market.
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The new research report titled "Endoscopic Ultrasound Needles Market, Global Industry Analysis, and Forecast to 2027" gives a detailed analysis and future forecasts of the market.
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This report further covers the latest trends, technological advancements, and growth opportunities.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Endoscopic Ultrasound Needles Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/endoscopic-ultrasound-needles-market/download-sampleMarket DynamicsThe driving force behind the market growth is the rising geriatric population and rising prevalence of gastrointestinal cancers.
Besides this, rising occurrences of various diseases, for instance, liver, lung and rising demand towards minimally invasive surgical procedures are likely to push the market growth.
In addition to this, technological advancement is propelling demand.
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