Technological breakthroughs in endoscopy equipment and the transformation of the healthcare sector are likely to drive the market growth. Rising prevalence of gastric cancers and biopsies of gastroscopic samples as well as collection of images ofblood flow for ascertaining the presence of malignant tumors can bode well for the market. According to the National Cancer Institute, close to 26,420 cases of stomach cancer were detected in the U.S. in 2017.
The global Ultrasound Gastroscopes Industry is expected to register a CAGR of 6.32% over the forecast period (2018-2023). It stood at USD 630.2 million in 2017.
The focus of the key players is on the introduction of advanced products. The rising demand for higher accuracy and specificity of endoscopy ultrasound techniques is expected to encourage the growth trajectory of the ultrasound gastroscopes market in the nearby future. On the contrary, lack of skilled professionals, in conjunction with the high cost of the equipment, is projected to check the expansion of the market across the review period.
- Cook Medical
- Karl Storz Endoscopy
- Esaote Spa
- Medi-Globe GmbH
- Medtronic plc
- Olympus Corporation
- Fujifilm Holdings
- Boston Scientific Corporation
- Conmed Corporation
- The global ultrasound gastroscopes market has been segmented into product type, application, procedure, and end user.
- The market on the basis of product type has been segmented into endoscopic ultrasound needle, optic ultrasound gastroscope, linear array ultrasound gastroscope, and others.
- Based on application, the market has been segmented into oncology, pancreatic conditions, and others. Further, the oncology segment has been segmented into upper gastrointestinal (GI) oncology and lower gastrointestinal (GI) oncology.
- On the basis of procedure, the global market has been segmented into upper endoscopy ultrasound (EUS), lower endoscopy ultrasound (EUS), and others.
- Based on end user, the market is segmented into hospitals and clinics, ambulatory surgical centers, and others.
By region, the global ultrasound gastroscopes market has been segmented into four regions – Americas, Europe, Asia Pacific, and the Middle East & Africa (MEA). Americas is leading the growth of the global market. The increasing demand for advanced treatments for cancer is likely to propel the expansion of the ultrasound gastroscopes market in the region. Europe is anticipated to exhibit moderate growth over the next couple of years, which is attributable to the rising geriatric population. Also, increasing research & development activities is anticipated to catapult the regional market on an upward trajectory. Asia Pacific, on the other hand, has been projected to exhibit the highest CAGR over the assessment period. The rapid developments in healthcare technology are expected to revolutionize the growth pattern of the ultrasound gastroscopes market in the region.