Selbyville, DE -- (SBWIRE) -- 10/11/2018 -- The commercialization graph of endoscopic ultrasound market has witnessed a remarkable escalation in the past decade, owing to the myriad advantages the technique provides, like high accuracy in the diagnosis and treatment for gastrointestinal (GI) diseases. The widespread prevalence of gastrointestinal cancer across the globe would also serve to increase the demand for the endoscopic ultrasound technique. As per Cancer Research UK, 23.6 million new cases of cancer will be recorded annually by 2030. Likewise, relentless technological developments and modernizations in endoscopic ultrasound products will drive the market growth in the future. Despite lucrative growth opportunities, deficiency of skilled professionals and training programs, especially in emerging economies would limit the progression of endoscopic ultrasound market.

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Endoscopes segment is expected to depict appreciable growth on account of the rising number of cancer patients. Statistics presented by the Institute of Health Metrics and Evaluation claim that 42 million people suffered from cancer worldwide in 2016. Increasing cases of liver and pancreatic cancer will expand the demand for endoscopes, thus propelling the growth of the segment. Substantial number of technological advancements in endoscopes will also amplify their adoption in the years to come.

The radial scanning market segment will depict substantial growth, attributed to the convenience provided by the technique that is generally used to acquire a 360-degree view of the gastrointestinal tract and its surrounding periphery. The technique proves to be highly beneficial for physicians as they can read the image with clarity, increasing product adoption. The segment will also gain traction owing to the rising number of esophageal and colorectal cancers.

Oncology segment is estimated to accrue massive returns by the end of the forecast period on account of the rising prevalence of cancer globally. As per WHO (World Health Organization), one out of every six deaths in 2015 was due to cancer, that is primarily caused due to an unhealthy diet, lack of physical activity, alcohol and tobacco consumption.

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Noteworthy players of the global endoscopic ultrasound market comprise Medi-Globe Corporation, B. Braun, Conmed Corporation, Pentax Medical, Boston Scientific Corporation, Cook Medical, Ethicon, Fujifilm Corporation, Medtronic, Olympus Corporation, Smith & Nephew, and Stryker. In order to consolidate their presence in the industry, these players are known to adopt tactics such as innovative product launches, collaborations, and strategic mergers and acquisitions. For instance, Olympus Corporation has recently entered into a strategic agreement with Hitachi, with an aim to reinforce its market position, extend the product portfolio, and expand its geographical reach.

The remarkable advancements in medical technology directed at enhancing efficiency and reducing costs will undoubtedly bolster the endoscopic ultrasound market growth in the years to come. Driven by the rising adoption of the technique across several emerging nations and increasing application arenas, the endoscopic ultrasound market is slated to surpass an appreciable valuation by the end of 2024.

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Global Medical Ultrasound Imaging Equipment Market Professional Survey Report 2018

The global Medical Ultrasound Imaging Equipment market is valued at xx million US$ in 2017 and will reach xx million US$ by the end of 2025, growing at a CAGR of xx% during 2018-2025.

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