Endoscopic Ultrasound Market to Surge: Expected to Hit $2.2 Billion by 2031, Up from $1.2 Billion in 2021: CAGR of 6.1%

PORTLAND, OR, UNITED STATES, September 4, 2024 /EINPresswire.com/ -- Market Overview

The global endoscopic ultrasound (EUS) market, valued at $1.2 billion in 2021, is projected to grow to $2.2 billion by 2031, reflecting a compound annual growth rate (CAGR) of 6.1% from 2022 to 2031. This innovative medical procedure combines endoscopy with ultrasound technology to generate detailed images of internal organs located in the chest, abdomen, and colon. By enabling healthcare professionals to visualize organ walls and adjacent structures, EUS plays a crucial role in diagnosing a variety of conditions, particularly gastrointestinal disorders.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

• Medtronic
• Boston Scientific Corporation
• Smith & Nephew plc
• Limaca Medical
• Olympus Medical
• Stryker Corporation
• cook medical
• Sonoscape Medical Corp.
• CONMED Corporation
• pentax medical

𝐆𝐞𝐭 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-sample/A17600

Driving Factors Behind Market Growth

Rising Incidence of Gastrointestinal Disorders
One of the primary drivers of the EUS market is the increasing prevalence of gastrointestinal disorders. According to Cancer.net, approximately 1,880,725 people were diagnosed with colorectal cancer in 2020 alone. The demand for advanced diagnostic technologies and enhanced healthcare expenditures significantly contribute to market expansion.

Aging Population

The growing geriatric population is another critical factor fueling the growth of the EUS market. As reported by Eurostat, more than 20.8% of the European Union's population was aged 65 and over in 2021. Older adults are more susceptible to chronic diseases and gastrointestinal infections, creating a heightened demand for effective diagnostic tools like EUS.

Technological Advancements and Product Launches

The market is also propelled by the introduction of innovative products and technologies. For instance, SonoScape Medical recently launched the linear echoendoscope EG-UC5T, which meets the evolving needs of medical professionals by enhancing imaging capabilities. Ongoing research and development in advanced endoscopic techniques further drive market growth.

Impact of Lifestyle Factors

Increasing rates of obesity and alcohol consumption have been linked to gastrointestinal diseases, thereby boosting the demand for EUS. The Centers for Disease Control and Prevention (CDC) reported that 4.5 million adults were diagnosed with liver disease in January 2022. Conditions such as liver cirrhosis and pancreatitis, often associated with obesity and alcoholism, underline the necessity for advanced diagnostic tools.

Improved Healthcare Infrastructure

The expansion of healthcare facilities, driven by rising healt
hcare expenditures and government initiatives, enhances access to endoscopic ultrasound services. According to the American Medical Association (AMA), U.S. health spending surged by 9.7% in 2020, reaching $4.1 trillion. This investment supports the establishment of more hospitals and ambulatory surgical clinics, further propelling the EUS market.

Market Segmentation

The endoscopic ultrasound market is segmented based on product type, application, and end user:
• By Products: The market includes endoscopes, ultrasound probes, ultrasonic processors, imaging systems, needles, and accessories. The endoscope segment, comprising radial and linear endoscopes, is expected to dominate the market due to its critical role in EUS procedures.
• By Application: Applications of EUS primarily focus on oncology and pancreatic conditions. The pancreatic conditions segment is anticipated to see significant growth, driven by an increase in diagnoses of pancreatitis and related cancers.
• By End User: Hospitals are the primary end users of EUS, although ambulatory surgery centers are gaining popularity due to the rise in outpatient procedures.

Regional Insights

North America
North America held a significant share of the EUS market in 2021, supported by high rates of chronic disease incidence, advanced healthcare infrastructure, and a concentration of key market players. The region's well-established healthcare system facilitates widespread access to EUS technology.
Asia-Pacific
Conversely, the Asia-Pacific region is poised for substantial growth. The increasing prevalence of digestive diseases, alongside ongoing improvements in healthcare infrastructure, creates a fertile ground for the EUS market. The region's large population base also contributes to its growth potential.

𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A17600

David Correa
Allied Market Research
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