Echocardiography Devices Market is Slated to Surpass US$ 2 Billion Revenue by 2031Posted by Aparna on August 9th, 2023 According to a recent industry analysis by Fact.MR, a supplier of market research and competitive intelligence, The global echocardiography market size is likely to reach over US$ 2 billion by 2031
Increased geriatrics globally, an increase in esophageal cancer and other diseases, alterations in people’s lifestyles, and the need for more effective treatment to reduce the risk of consequences are all factors contributing to market expansion. As a result of technological developments like the development of bioabsorbable stents and stents made of nitinol materials with high flexibility and kink resistance, demand for esophageal stents is also increasing. Additionally anticipated to drive the market is an increase in demand for minimally invasive surgical procedures.
Hospitals provide superior care because they have access to trained medical staff and nursing staff who can provide quality care. Furthermore, the number of stenting procedures will rise as a result of a growing sedentary lifestyle, poor diet, and unhealthy habits, including smoking, drinking, and using cigarettes. It is anticipated that market revenue for esophageal stents will be boosted by increased attention to modernizing the healthcare infrastructure.
The development of technologies such as biochips, stent strut design, and increased use of advanced software applications for monitoring stent movement during therapy is projected to drive the demand for self-expandable metallic stents.
Key Takeaways from Market Study
Winning Strategy
Key market participants are concentrating on implementing advanced technologies and features in their products. Top companies are concentrating on strategic initiatives such as the creation of novel products through customization by consumer needs to expand their product portfolios and solidify their leading positions in the business.
For instance,
Many medical problems make it difficult for individuals to swallow because they restrict a section of the esophagus. Esophageal stents allow food and liquids to pass by opening the esophagus. Start-ups are working on stents that can adjust and fit the anatomy of each patient.
A new entrant based in the U.S. called Thoracent offers pulmonology-specific medical equipment. BONASTENT is a self-expanding metallic esophageal stent produced by the company. It has a nitinol hook and cross-wire design that allows for anatomical customization. Its radial and returning forces are also ideal for great conformability.
Competitive Landscape
Technological advancements, product portfolio expansion, mergers & acquisitions, and enhancing R&D capacities lie at the core of several echocardiography providers.
Major Stakeholders
Industry Research
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