Global duodenoscope market
Global duodenoscope market size was valued at US$ Mn in 2019 and is expected to reach US$ Mn by 2027 to exhibit a CAGR of % during a forecast period.
Global Duodenoscope Market, By RegionDuodenoscope is a reusable, deep, flexible, void, lighted tube used to treat & diagnose gastrointestinal illnesses of pancreas as well as bile ducts by doctors. Duodenoscope is presented through the mouth, throat, and stomach keen on the top portion of the duodenum.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global duodenoscope market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in global duodenoscope market.
The major driving factors of the global duodenoscopes market are the growth in gastrointestinal disorders, and technological advancements in medical devices, are increasing prevalence of gastrointestinal diseases, growing government support for development of healthcare domain. Increase in preferences toward minimally invasive procedures is also boosting the growth of the market. On the other hand, growth in number of duodenoscope associated multidrug-resistant bacterial infections such as E. coli & Klebsiella are limiting the growth of the global duodenoscope market.
Duodenoscope is being utilized in more than 5, 00, 000 gastrointestinal processes in the U.S country each year, and it provide nominally intrusive way than old-style surgery to drain fluids from biliary as well as pancreatic ducts which are congested through cancerous tumors, gallstones. Growing prevalence of bile duct, pancreatic cancer tumors and several other gastrointestinal problems are boosting the growth of the global duodenoscope market.
Flexible video duodenoscopes segment is accounted for approximately 74.5% of market share in 2017, due to the widely used to examine a person's digestive tract for treatment. Using a video endoscope, a flexible tube with a light and camera attached to it, and doctor can view pictures of digestive tract on a color TV monitor, help to give efficient treatment to the patient.
The hospital & clinic segment is projected to grow at the highest CAGR of 5.1% during the forecast period, owing to rise use of duodenoscope in clinics such as gastroenterology clinics to diagnose gastrointestinal aberrations. According to the National Institute of Diabetes and Digestive and Kidney Diseases, around 60 to 70 million people are affected by either major or minor gastrointestinal diseases.
The diagnostic segment is anticipated to grow at the highest CAGR of 39.5% during the forecast period, owing to increased use of duodenoscope to identify small intestinal abberations, trauma and surgical complications in bile as well as pancreatic ducts, tumors of the bile ducts, and inflammation of the pancreas. To improve the quality of application such as diagnosis and treatment, the demand for the advanced devices have increased.
Geographically, North America is expected to lead the global duodenoscope market, owing to the extremely advanced healthcare setup. The presence of patient population, well-developed technology, and high healthcare expenditure is also boosting the growth of the market in North America region. Europe holds the key share of the duodenoscope market, in developed as well as developing countries such as Germany, U.K., and France. Increasing emphasis on rapid diagnosis as well as treatment of cancer & infectious diseases, change in lifestyle, and high prevalence of cancer among geriatric population drives the growth of the market in Europe.
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