The Global Duodenoscopes Market, by Product Type (Flexible Duodenoscopes and Rigid Duodenoscopes), by Application (Diagnostics and Therapeutics), by End User (Hospitals, Clinics, and Ambulatory Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 146.6 million in 2019 and is projected to exhibit a CAGR of 6.5% over the forecast period (2019 - 2027), as highlighted in a new report published by Coherent Market Insights.

Increasing product launches is expected to propel growth of the global duodenoscopes market

Development of duodenoscopes and endoscopic techniques and tools required for therapeutic intervention of Endoscopic Retrograde Cholangiopancreatography (ERCP) play a major role in the management of pancreaticobiliary diseases. For instance, duodenoscope-assisted cholangiopancreatoscopy has evolved to single-operator platforms with high-resolution imaging capabilities including intraductal applications from direct visualization and targeted sampling of intraductal neoplasm to lithotripsy of pancreatic duct and bile duct stones.

Manufacturers of duodenoscope devices are focused on developing innovative products in order to expand their market share. For instance, in 2017, PENTAX Medical launched a high-definition Duodenoscope (ED34-i10T), which is the first FDA-cleared duodenoscope with a disposable distal cap in the U.S. It is designed to improve the standards of treatment and safety for both routine and advanced ERCP. The device features High-Definition imaging and improved clinical control to improve access for cleaning and reprocessing. Several outbreaks of patient infections following procedures with duodenoscopes offer potential for manufacturers to develop innovative products which do not transmit infection among patients.

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Increasing prevalence of gastrointestinal, liver, and pancreatic diseases is expected to drive the duodenoscopes market revenue

Increasing prevalence of gastrointestinal, liver, and pancreatic diseases is expected to increase demand for duodenoscopes during the forecast period. For instance, according to the Center for Disease Control and Prevention report published in 2017, the number of visits to emergency departments in the U.S. was approximately 8.3 million.

According to the Journal of Gastroenterology 2018 study, Gastrointestinal (GI), liver, and pancreatic diseases are highly prevalent, costly, and lead to substantial health care utilization in the U.S. In 2018, the total expenditure for GI diseases is approximately US$ 135.9 Bn in the U.S.

Browse 37 Market Data Tables and 29 Figures spread through 185 Pages and in-depth TOC on "Duodenoscopes Market, by Product Type (Flexible Duodenoscopes and Rigid Duodenoscopes), by Application (Diagnostics and Therapeutics), by End Use (Hospitals, Clinics, and Ambulatory Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027"

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Key Takeaways of the Duodenoscopes Market:

The global duodenoscopes market is expected to expand at a CAGR of 6.5% during the forecast period, owing to increasing incidences of bile duct and pancreatic cancer, tumors, and gastrointestinal diseases. According to the American Institute of Cancer Research reports in 2018 there were approximately 460,000 new cases of pancreatic cancer globally.

Among product type, the flexible duodenoscopes segment is expected to generate significant revenue in 2018, due to ease of usage and high coverage provided by these devices.

Among region, North America duodenoscopes market accounted for the highest market share in 2018 due to the high prevalence of high GI patient population and availability of well-established healthcare facilities coupled with increasing healthcare expenditure. For instance, in 2019, according to the American Cancer Society estimates approximately 57,600 individuals in the U.S. will be diagnosed with pancreatic cancer by 2020.

Major players operating in the global duodenoscopes market include, Custom Ultrasonics, Inc., ENDOMED, Fujifilm Holdings Corporation, Hoya Corporation, KARL STORZ GmbH & Co. KG., Olympus Corporation, PENTAX Medical Company, and SonoScape Medical Corp

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