Market Trends of US Endoscopy Devices Industry
Flexible Endoscope Segment is Estimated to Register Significant Growth Over the Forecast Period
- The Flexible Endoscope segment in the United States is expected to register significant growth during the forecast period owing to factors such as the presence of technologically advanced endoscopes in the country, the increasing number of chronic diseases requiring endoscopy for diagnosis, and high healthcare expenditure.
- An increase in the number of gastric diseases that require accurate endoscopic evaluations for treatment is expected to drive market growth in the country. For instance, as per the American Cancer Society (ACC) 2023 estimations, 4,470 urethral and other urinary organ cancers are likely to be diagnosed in the United States in 2023. Similarly, as per the same source, 12,070 small intestine cancer cases will likely be interpreted in the same year in the United States. The projected increase in urethral, urinary organ, and small intestine cancer cases in the United States is expected to drive the demand for Flexible Endoscopy Devices as these devices increase accessibility and visualization for diagnosis and treatment of targeted organs and, hence, likely to contribute to the United States Endoscopy Devices Market growth during the forecast period.
- Moreover, rising product launches in the country are also increasing market segment growth. For instance, in February 2023, Boston Scientific Corporation received the US FDA approval for LithoVue Elite Single-Use Digital Flexible Ureteroscope System, one of the first to monitor intrarenal pressure in real-time during ureteroscopy procedures, emphasizing growth in the Urologic Endoscopy Market.
- Therefore, due to the rising prevalence of urinary organ cancer and the number of product launches, the Flexible Endoscopes segment is expected to grow significantly during the upcoming period.
Gastroenterology Segment is Expected to Register a Significant Growth Over the Forecast Period
Gastrointestinal endoscopy is an endoscopic procedure that permits physicians to examine the digestive system by inserting a long, flexible, lighted instrument called an endoscope either through the rectum or down through the throat. These gastrointestinal endoscopy procedures may be performed to evaluate and treat disorders of the esophagus, stomach, small intestine, colon, pancreas, and bile ducts.
The main factors driving the growth of the Gastrointestinal Endoscopy Market are the rising incidence of gastrointestinal diseases in the young, adult, and geriatric groups worldwide. Dyspepsia, irritable bowel syndrome, and constipation are some examples of gastrointestinal disorders. Furthermore, gastroesophageal reflux disease is a prevalent form of organic gastrointestinal disorder.
The increasing burden of gastrointestinal diseases and the growing geriatric population drive the demand for Colonoscopy and other gastrointestinal endoscopic procedures. For instance, according to the data updated by the American Cancer Society in March 2023, there will be an estimated 153,020 new colorectal cancer (CRC) cases in the United States by the end of 2023.
Moreover, the rising product approval in the segment will also contribute to the segment growth. For instance, in February 2022, Ambu received the 510(k) regulatory clearance from the United States Food and Drug Administration of the Ambu aScope Gastro and Ambu aBox 2 in the United States. aScope Gastro is Ambu's one of the first sterile single-use Gastroscopes. It includes new advanced imaging and design features combined with next-generation display and processor technology.
Therefore, due to the rising prevalence of colorectal cancer and the surging number of product approvals, the Gastrointestinal Endoscopy Market segment is expected to grow significantly during the forecast period.
