Ultrasound Gastroscopes Market Share, SWOT Analysis, Supply Chain Cycle and ForePosted by Shrikant Gadewar on February 5th, 2020 Market Outlook: 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 Market Share 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 large geriatric populace and the use of ultrasound gastroscopes for early detection of stomach cancer can drive the market demand exponentially. This can increase the success rate by 5% and improve surgical outcomes. The use of artificial intelligence in gastrointestinal endoscopy can lead to detection of abnormal formations. This can lead to development of advanced imaging techniques with high accuracy and sensitivity. Lack of skilled personnel and high costs of endoscopy equipment are restraints of the market. Competition Outlook:
Segmentation Analysis:
Regional Analysis: The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is expected to be the leading region of the global ultrasound gastroscopes market due to massive demand for minimally invasive therapies in oncology, availability of advanced products in the U.S., and rising prevalence of stomach cancer. According to the Canadian Cancer Society, close to 3,500 Canadians were diagnosed with the disease. Gastroscopes can play its part by detecting the disease at a preventive stage. Europe can capture a sizeable share of the market during the assessment period. This can be attributed to rising incidence of GI diseases and the large geriatric population. Establishment of the European Society of Gastrointestinal Endoscopy (ESGE) for keeping surgeons and doctors aware of the latest developments in gastroenterology and imaging techniques can bode well for the market. This can encourage sales of the latest gastroscopes at private and government hospitals. APAC is touted to exhibit a rapid growth rate till 2023 due to investments in the healthcare sector, large patient pool, and developments in gastroscopes. Heightened demand for new treatments in South Korea and India can fuel the market growth in the region. Lastly, the MEA region has the lowest market share due to lack of sufficient infrastructure and paucity of efficient treatments. Like it? Share it!More by this author |