Global Endoscopic Ultrasound Needles Market to Witness Remarkable Rise, Increasing Geriatric Population to be the Main Contributor

The population, worldwide, is aging rapidly. Various countries are reporting a substantially expanded base of the geriatric population, which is leading to a rise in the number of knee-hip implants, bariatric surgeries, colonoscopy, and gastrointestinal endoscopic ultrasound procedures for the enhancement of the quality and the expectancy of their life. This, in turn, is fueling the demand and usage of endoscopic ultrasound needles, remarkably across the world. The increasing prevalence of cancer, globally, is another important factor behind the augmented uptake of for endoscopic ultrasound needles and is expected to remain supporting the growth of this market over the next few years.

According to Transparency Market Research (TMR), the global market for endoscopic ultrasound needles was worth US$ 272.7 mn in 2016.  Expanding at a healthy CAGR of more than 4.50% during the period from 2017 to 2025, the market’s opportunity is expected to reach nearly US$405 mn by the 2025 end.

In this blog post, TMR researchers are answering some of the prominent questions about the global endoscopic ultrasound needles market:

What are the main factors that will propel the global market for endoscopic ultrasound needles in the future?

Nowadays, the preference for non-invasive or minimally invasive surgeries has increased significantly among people across the world. The emergence of advanced robotic devices, which offer higher control and vision during surgeries, has enabled doctors and other medical professionals to perform safe, less invasive, and precise surgical procedures. This non-robotic surgery, which is minimally invasive too, is also known as endoscopic surgery and can be classified into thoracoscopic surgery and laparoscopic surgery. 

The demand for minimally invasive procedures, which result in small incisions, lessened pain, quicker recovery time, shorter hospital stay, less scarring, reduced blood loss, and lower risk of infection, as compared to traditional surgeries, is increasing continuously, and is projected to reflect positively on the uptake of endoscopic surgery, leading to a high demand for endoscopic ultrasound needles in the near future.

Which of the regional markets is likely to acquire dominance over the next few years?

Regionally, the global market for endoscopic ultrasound needles is spread across North America, Europe, the Middle East and Africa, Asia Pacific, and Latin America. With the high uptake of endoscopic ultrasound needles and the increased health care expenditure, North America has been dominating the global market for endoscopic ultrasound needles and is projected to continue to lead over the next few years, too. Europe stood second in the global market in 2016 and is projected to remain holding a significant market share in the near future, thanks to the increasing incidence of cancer and chronic hepatobiliary diseases in in this region.

Asia Pacific, on the other hand, is anticipated to register promising growth opportunities for market players on account of the rise in the healthcare expenditure in Asian countries. In 2016, it was worth approximately US$22 mn. With the rising focus of key participants on expanding their bases in Asia Pacific, thanks to the presence of a large untapped population and the augmenting awareness level of consumers regarding healthcare, the Asia Pacific market for endoscopic ultrasound needles is predicted to witness a high growth rate in the years to come.


Post a Comment

Note: only a member of this blog may post a comment.

Latest Post

Market Research Reports