Duodenoscopes Market By Application Type (Treatment And Diagnostics), By Use Type (Single And Reusable), By End-User Type (Hospitals And Diagnostic Laboratories), and by geography is expected to grow at a steady CAGR forecast till 2027 owing to rising technological advancements in duodenoscopes and increasing prevalence of gastroenterology diseases & endoscopic retrograde cholangiopancreatography (ERCP) procedures that uses duodenoscopes.
Global duodenoscopes market will grow at a CAGR of 5.2% during the forecast period from 2022 to 2027. The duodenoscopes market is witnessing a positive growth owing to the factors such as, increasing prevalence of gastroenterology diseases and ERCP procedures which uses dudesoscopes, rising technological advancements in duodenscopes, shift towards minimally invasive procedures, increasing geriatric population. Thus, all these factors mentioned above are contributing to the growth of duodenoscopes market during the forecast period from 2022-2027.
One of the main drivers of the duodenoscopes market is the increasing prevalence of gastroenterology diseases and ERCP procedures. According to World Cancer Research Fund International March 2022, in 2020 there were more then 495,773 new cases of pancreatic cancer worldwide and total 466,003 pancreatic cancer deaths cases. Therefore, the death rates due to pancreatic cancer can be limited by providing the proper care for the disease through ERCP procedures which involves use of duodenoscopes thus the duodenoscopes market is expected to grow during the forecast period (2022-2027).
Moreover, another key factor which is responsible for the growth of duodenoscopes market can be technological advancements. In April 2022, US Food and Drug Administration (USFDA) recommends hospitals and endoscopy facilities for transition of fully disposable duodenoscopes with innovative designs to inhance safety, cleaning, to reduce contamination and infection between patients, which will also include designs with disposable caps or distal ends. Therefore, this transition in technology recommended by FDA will enhance the duodenoscopes market growth.
However, the market will face ceratin barriers to growth as well, such as cleaning of reusable duodenoscope devices become challenging. If not cleaned properly, patients will have chances of contacting infections due to contamination. Furthermore, lack of trained physicians and endoscopists operating duodenoscopes and duodenoscope's high cost can slow down the market growth.
The ongoing Coronavirus pandemic has impacted the market for duodenoscopes due to lockdown restrictions as supply chains and logistics were hampered, manufacturing units were closed, elective surgeries were not on priority as COVID-19 patients were preffered more. However, with masses being vaccinated, lockdown restriction relaxation, resumption of suppy chains and increase in elective surgeries other than COVID-19 patients, the duodenoscopes market has picked momentum and is expected to further grow in the forecast period.
Duodenoscopes Market By Application (Treatment and Diagnostics), By Use Type (Single and Reusable), By End-User Type (Hospitals and Diagnostic Laboratories), And By Geography (North America, Europe, Asia-Pacific, and Rest of the World).
In By Use segment type of duodenoscopes market, demand of single use duodenoscopes is high as compared to reusable duodenoscopes, as reusable duodenoscopes has complex design which makes cleaning difficult and can cause contamination, transfer of infection from one patients to another. The FDA has also recommend companies to manufacture single use or disposable duodenoscopes for the safety of patients when associated with ERCP procedures. Furthermore, launch of new single use duodenoscope in the market will also boost the segmental growth. For inctance, In July 2020, Ambu wins FDA clearance for single-use duodenoscope product. In December 2019, Boston Scientific Corporation announced that U.S. FDA had given 510(k) clearance for its EXALT™ model D single-use duodenoscope as well as breakthrough device designation.
Furthermore, to limit the infections in patients rise, single use duodenoscope are used during ERCP procedures that ultimately enhance the duodenoscopes market during the forecast period from 2022-2027
Among all the regions, North America is expected to dominate the global duodenoscopes market in the year 2021 and is expected to do the same during the forecast period from 2022-2027. Factors such as increased prevalence of various cancers where duodenoscopes are used such as Gallbladder, Esophageal and Pancreatic cancers and increase in market launch of duodenoscopes, will drive the use of duodenoscopes which increase the demand of duodenoscopes in the North America market.
According to American Cancer Society January 2022, in the US, cancer of the gallbladder and nearby large bile ducts were 12,130. Deaths associated from these cancers were 4,400 cases. About every 4 in 10 new cases will be of gallbladder cancer.
As per the same source in January 2022, in US new cases of esophageal cancer were found to be 20,640. Death associated with disease was 16,410.
Moreover, as per the same source in January 2022, total pancreatic cancer cases diagnosed in US were 62,210. Total death was of 49,830 people.
Therefore, increased prevalence of various cancers where duodenoscopes are used such as Gallbladder, Esophageal and Pancreatic cancers and to limit the deaths associated with them, duodenoscopes are required for diagnosis with ERCP. This would result in the rising demand for duodenoscopes which in turn would provide a conducive growth environment for North American region in duodenoscopes market.
Furthermore, another factor is launch of new devices, such as FDA approved PENTAX Medical's DEC™ HD Duodenoscope in November 2019, have significant clinical innovation in patient safey as well as in design of the device, its sterile and contain disposable distal end cap with integrated elevator which limit contamination and spread of infection.
Therefore, increased prevalence of various cancers where duodenoscopes are used such as Gallbladder, Esophageal and Pancreatic cancers coupled with increased in market launch of duodenoscopes would result in the rising demand for duodenoscopes which in turn would provide a conducive growth environment in North American region for duodenoscopes during market forecast 2022-2027.
Some of the key market players operating in the duodenoscopes market include KARL STORZ SE & Co. KG, FUJIFILM Corporation, PENTAX Medical, Olympus, Ambu A/S, Boston Scientific Corporation, among others.
1. What are Duodenoscopes?
Duodenoscopes are specialized endoscopes which are used in the ERCP procedures. These are hollow, flexible, light tubes which can be used to diagnose and treat diseases such as in pancreas and bile ducts. These procedures are less invasive then traditional surgery.
2. What is the market for Global Duodenoscopes?
Global duodenoscopes market will grow at a CAGR of 5.2% during the forecast period from 2022 to 2027.
3. What are the drivers for the Global Duodenoscopes Market?
The duodenoscopes market is witnessing a positive market growth owing to the factors such as, increasing prevalence of gastroenterology diseases, technological advancements in duodenoscopes, rise in shift for minimally invasive procedures, increasing geriatric population, increase in market launch of duodenoscopes and increased prevalence of various cancers where duodenoscopes are used such as Gallbladder, Esophageal & Pancreatic cancers.
4. Who are the key players operating in the Duodenoscopes Market?
Some of the key market players operating in the duodenoscopes market include KARL STORZ SE & Co. KG, FUJIFILM Corporation, PENTAX Medical, Olympus, Ambu A/S, Boston Scientific Corporation among others.
5. Which region has the highest share in Duodenoscopes Market?
North America is expected to dominate the global duodenoscopes market. Factors contributing to the growth are increasing prevalence of chronic diseases, increase in market launch of duodenoscopes and increased prevalence of various cancers where duodenoscopes are used such as Gallbladder, Esophageal & Pancreatic cancers drive the duodenoscopes market growth in this region.
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Global duodenoscopes market will grow at a CAGR of 5.2% during the forecast period from 2022 to 2027. The duodenoscopes market is witnessing a positive growth owing to the factors such as, increasing prevalence of gastroenterology diseases and ERCP procedures which uses dudesoscopes, rising technological advancements in duodenscopes, shift towards minimally invasive procedures, increasing geriatric population. Thus, all these factors mentioned above are contributing to the growth of duodenoscopes market during the forecast period from 2022-2027.
Duodenoscopes Market Dynamics:
One of the main drivers of the duodenoscopes market is the increasing prevalence of gastroenterology diseases and ERCP procedures. According to World Cancer Research Fund International March 2022, in 2020 there were more then 495,773 new cases of pancreatic cancer worldwide and total 466,003 pancreatic cancer deaths cases. Therefore, the death rates due to pancreatic cancer can be limited by providing the proper care for the disease through ERCP procedures which involves use of duodenoscopes thus the duodenoscopes market is expected to grow during the forecast period (2022-2027).
Moreover, another key factor which is responsible for the growth of duodenoscopes market can be technological advancements. In April 2022, US Food and Drug Administration (USFDA) recommends hospitals and endoscopy facilities for transition of fully disposable duodenoscopes with innovative designs to inhance safety, cleaning, to reduce contamination and infection between patients, which will also include designs with disposable caps or distal ends. Therefore, this transition in technology recommended by FDA will enhance the duodenoscopes market growth.
However, the market will face ceratin barriers to growth as well, such as cleaning of reusable duodenoscope devices become challenging. If not cleaned properly, patients will have chances of contacting infections due to contamination. Furthermore, lack of trained physicians and endoscopists operating duodenoscopes and duodenoscope's high cost can slow down the market growth.
The ongoing Coronavirus pandemic has impacted the market for duodenoscopes due to lockdown restrictions as supply chains and logistics were hampered, manufacturing units were closed, elective surgeries were not on priority as COVID-19 patients were preffered more. However, with masses being vaccinated, lockdown restriction relaxation, resumption of suppy chains and increase in elective surgeries other than COVID-19 patients, the duodenoscopes market has picked momentum and is expected to further grow in the forecast period.
Duodenoscopes Market Segment Analysis:
Duodenoscopes Market By Application (Treatment and Diagnostics), By Use Type (Single and Reusable), By End-User Type (Hospitals and Diagnostic Laboratories), And By Geography (North America, Europe, Asia-Pacific, and Rest of the World).
In By Use segment type of duodenoscopes market, demand of single use duodenoscopes is high as compared to reusable duodenoscopes, as reusable duodenoscopes has complex design which makes cleaning difficult and can cause contamination, transfer of infection from one patients to another. The FDA has also recommend companies to manufacture single use or disposable duodenoscopes for the safety of patients when associated with ERCP procedures. Furthermore, launch of new single use duodenoscope in the market will also boost the segmental growth. For inctance, In July 2020, Ambu wins FDA clearance for single-use duodenoscope product. In December 2019, Boston Scientific Corporation announced that U.S. FDA had given 510(k) clearance for its EXALT™ model D single-use duodenoscope as well as breakthrough device designation.
Furthermore, to limit the infections in patients rise, single use duodenoscope are used during ERCP procedures that ultimately enhance the duodenoscopes market during the forecast period from 2022-2027
North America is expected to dominate the overall Duodenoscopes Market:
Among all the regions, North America is expected to dominate the global duodenoscopes market in the year 2021 and is expected to do the same during the forecast period from 2022-2027. Factors such as increased prevalence of various cancers where duodenoscopes are used such as Gallbladder, Esophageal and Pancreatic cancers and increase in market launch of duodenoscopes, will drive the use of duodenoscopes which increase the demand of duodenoscopes in the North America market.
According to American Cancer Society January 2022, in the US, cancer of the gallbladder and nearby large bile ducts were 12,130. Deaths associated from these cancers were 4,400 cases. About every 4 in 10 new cases will be of gallbladder cancer.
As per the same source in January 2022, in US new cases of esophageal cancer were found to be 20,640. Death associated with disease was 16,410.
Moreover, as per the same source in January 2022, total pancreatic cancer cases diagnosed in US were 62,210. Total death was of 49,830 people.
Therefore, increased prevalence of various cancers where duodenoscopes are used such as Gallbladder, Esophageal and Pancreatic cancers and to limit the deaths associated with them, duodenoscopes are required for diagnosis with ERCP. This would result in the rising demand for duodenoscopes which in turn would provide a conducive growth environment for North American region in duodenoscopes market.
Furthermore, another factor is launch of new devices, such as FDA approved PENTAX Medical's DEC™ HD Duodenoscope in November 2019, have significant clinical innovation in patient safey as well as in design of the device, its sterile and contain disposable distal end cap with integrated elevator which limit contamination and spread of infection.
Therefore, increased prevalence of various cancers where duodenoscopes are used such as Gallbladder, Esophageal and Pancreatic cancers coupled with increased in market launch of duodenoscopes would result in the rising demand for duodenoscopes which in turn would provide a conducive growth environment in North American region for duodenoscopes during market forecast 2022-2027.
Duodenoscopes Market Key Players:
Some of the key market players operating in the duodenoscopes market include KARL STORZ SE & Co. KG, FUJIFILM Corporation, PENTAX Medical, Olympus, Ambu A/S, Boston Scientific Corporation, among others.
Recent Developmental Activities in the Duodenoscopes:
- In February 2020, Olympus secured 510(k) clearance from the US FDA for its TJF-Q190V duodenoscope.
- In November 2019, FDA clears Pentax's duodenoscope design to reduce need for disinfection.
Key Takeaways from the Duodenoscopes Market Report Study
- Market size analysis for current Duodenoscopes market size (2021), and market forecast for 5 years (2022-2027).
- The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Duodenoscopes.
- Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years.
- Key companies dominating the global Duodenoscopes .
- Various opportunities available for the other competitor in the Duodenoscopes Market space.
- What are the top performing segments in 2021? How these segments will perform in 2027.
- Which is the top-performing regions and countries in the current Duodenoscopes Market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for Duodenoscopes Market growth in the coming future?
Target Audience who can be benefited from this Duodenoscopes Market Report Study
- Duodenoscopes products providers
- Research organizations and consulting companies
- Duodenoscopes-related organizations, associations, forums, and other alliances
- Government and corporate offices
- Start-up companies, venture capitalists, and private equity firms
- Distributors and Traders dealing in duodenoscopes
- Various End-users who want to know more about the duodenoscopes Market and latest technological developments in the duodenoscopes.
Frequently Asked Questions For Duodenoscopes:
1. What are Duodenoscopes?
Duodenoscopes are specialized endoscopes which are used in the ERCP procedures. These are hollow, flexible, light tubes which can be used to diagnose and treat diseases such as in pancreas and bile ducts. These procedures are less invasive then traditional surgery.
2. What is the market for Global Duodenoscopes?
Global duodenoscopes market will grow at a CAGR of 5.2% during the forecast period from 2022 to 2027.
3. What are the drivers for the Global Duodenoscopes Market?
The duodenoscopes market is witnessing a positive market growth owing to the factors such as, increasing prevalence of gastroenterology diseases, technological advancements in duodenoscopes, rise in shift for minimally invasive procedures, increasing geriatric population, increase in market launch of duodenoscopes and increased prevalence of various cancers where duodenoscopes are used such as Gallbladder, Esophageal & Pancreatic cancers.
4. Who are the key players operating in the Duodenoscopes Market?
Some of the key market players operating in the duodenoscopes market include KARL STORZ SE & Co. KG, FUJIFILM Corporation, PENTAX Medical, Olympus, Ambu A/S, Boston Scientific Corporation among others.
5. Which region has the highest share in Duodenoscopes Market?
North America is expected to dominate the global duodenoscopes market. Factors contributing to the growth are increasing prevalence of chronic diseases, increase in market launch of duodenoscopes and increased prevalence of various cancers where duodenoscopes are used such as Gallbladder, Esophageal & Pancreatic cancers drive the duodenoscopes market growth in this region.
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Table of Contents
1. Duodenoscopes Market Report Introduction6. COVID-19 Impact Analysis on Duodenoscopes8. Duodenoscopes Market Global Company Share Analysis - Key 2-3 Companies10. KOL Views11. Project Approach12. About the Publisher13. Disclaimer & Contact the Publisher
2. Duodenoscopes Market Executive Summary
3. Regulatory Analysis
4. Duodenoscopes Market Key Factors Analysis
5. Duodenoscopes Market Porter's Five Forces Analysis
7. Duodenoscopes Market Layout
9. Duodenoscopes Market Company and Product Profiles
List of Tables
List of Figures