The duodenoscope market is estimated to secure a CAGR of 8.2% during the forecast period. The market is projected to reach a valuation of US$ 90.23 Bn in 2022 and is likely to be valued at US$ 198.43 Bn by 2032.
| Attributes | Details |
|---|---|
| Market CAGR (2022 to 2032) | 8.2% |
| Market Value (2022) | US$ 90.23 Billion |
| Market Value (2032) | US$ 198.43 Billion |
The demand for duedenoscope devices is rapidly growing in ERCP procedures to treat pancreas, gallbladder and bile duct problems during the forecast period. Duodenoscope is a light-weighted device used to treat chronic pancreatitis, pancreatic pseudocysts, and trauma that drives the market size of duodenoscope during the forecast period.
In addition, rising awareness-related treatments and advanced technological devices are accelerating the duodenoscope market trends during the forecast period. The rising number of pancreatic cancer and gastrointestinal disorder are increasing the adoption of duodenoscope in recent years. The end-user industries such as hospitals, clinics, pediatric centers, and ambulatory surgical centers are growing the market share during the forecast period.
The growing presence of key manufacturers, government initiatives, and R&D activities will increase the market growth during the forecast period. According to WHO, nearly 70% of deaths from cancer in developing countries are accelerating the demand for duodenoscope. On the other hand, approximately 40% of the global population has chronic complications, as reported by World Gastroenterology Organization.
The type segment in the global market includes flexible duodenoscope and rigid duodenoscope. The flexible category dominates the global market by capturing a significant share during the forecast period. In addition, the flexible duodenoscope segment includes video and fiber-optic duodenoscope.
Based on region, North America is set to lead the global market by registering the maximum share during the forecast period. This is also due to growing healthcare infrastructure and rising awareness regarding duodenoscopes in the region. The presence of key vendors and rising investment activities boost the market share during the forecast period.
Asia-Pacific, will be securing a relevant share during the forecast period. The countries such as China and India are the fastest-growing nations in the global market due to securing the largest population. Moreover, the growing geriatric population and chronic diseases are accelerating the demand for duodenoscope in the region.
The key vendors play a significant role to acquires maximum output in the global market during the forecast period. The players are investing a large amount of revenue in the market to provide better healthcare devices that complete patients' requirements.
The key companies contributing to the global duodenoscope market are Fujifilm Holdings Corporation, KARL STORZ GmbH & Co. KG., Olympus Corporation, PENTAX Medical Company, and Hoya Corporation.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The market is likely to register a CAGR of 8.2% through 2032.
The market is currently valued at US$ 90.23 Bn in 2022.
The market is likely to grow to a valuation of US$ 198.43 Bn by 2032.
North America is likely to be a leading market during the forecast period.
Duodenoscope Market
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