DUODENOSCOPES MARKET ANALYSIS

The Global duodenoscopes market is estimated to be valued at US$ 187.4 Mn in 2023 and is expected to exhibit a CAGR of 6.8% during the forecast period (2023-2030).

Analysts’ Views on Global Duodenoscopes Market:

Increasing incidences of pancreatic, bile duct cancer tumors and various gastrointestinal conditions are the major origins contributing to the growth of the global duodenoscopes market. In addition, increasing FDA activities and CDC and manufactures collaboration is in identifying the causes and risk factors for transmission of infectious agents with duodenoscopes and developing new solutions to minimize patient exposure is another major driver, fueling the global duodenoscopes market growth over the forecast period.

Figure 1. Global Duodenoscopes Market Share (%), By Product Type, 2023

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Global Duodenoscopes Market – Drivers

Increasing Prevalence Of Gastrointestinal, Liver, and Pancreatic Diseases

Increasing prevalence of gastrointestinal, liver, and pancreatic diseases is expected to drive the global duodenoscopes market growth over the forecast period. For instance, according to the article published by National Libarary of Medicine Journal, in August 2021, There were 2,814,972.3 incident cases of acute pancreatitis occurred in 2020 globally; 1,273,955.2 in women and 1,541,017.1  in men. The global age-standardized incidence rate declined from 37.9/100,000 to 34.8/100,000 during 1990–2019, an annual decrease of 8.4% (5.9–10.4%).

Increasing Technological Advancements

increasing technological advancements  is expected to drive the market growth. For instance, according to the study published by the World Health Orgnization, in October 2020, U.S. FDA announced that it had approved the disposable duodenoscope EXALT Model D technological advance product, manufactured by Boston Scientific, a biomedical/biotechnology engineering firm and multinational manufacturer of medical devices in U.S.

Figure 2. Global Duodenoscopes Market Value (US$ Million), By Region, 2023

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Global Duodenoscopes Market- Regional Analysis

Among region, North America is estimated to hold a dominant position in the global duodenoscopes market over the forecast period. North America is estimated to hold 39.45 % of the market share in 2023. The Global duodenoscopes market is expected to witness significant growth in the near future, owing to high prevalence of gastrointestinal, liver, and pancreatic diseases, favorable health reimbursement, and increased awareness about Liver Disease. North America is the leading region for the duodenoscopes market. .

For instance, according to the article published  in American Liver Foundation (ALF), in June 2022, people affected by liver disease come together to raise awareness and funds. It provided tham opportunity to support each other in a festive and inspiring environment. Funds raised through the Liver Life Walk allow ALF provided valuable resources to liver patients. .These kinds of awareness in the healthcare system and rising health expenditures, as well as increased knowledge of advanced liver treatments, are expected to drive the market growth in the region.

Global Duodenoscopes Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are faced problems with the transportation of things from one place to another.

However, the COVID-19 pandemic had positive impact on the global duodenoscopes market. COVID-19 outbreak affected the market's growth adversely in its preliminary phase, however, the number of rheumatoid arthritis patients increased, and so has the demand for the global duodenoscopes market. For instance, according to the article published in December 2020, by National Library Of Medicine, titled “COVID-19 and duodenoscope-related infections and potential role of single-use duodenoscopes” stated that devices and tools have been developed to eliminate the risk of duodenoscope-related infections. These include disposable endcaps and elevators, with limited studies done evaluating risk of duodenoscope-related infections in COVID-19.

Global Duodenoscopes Market Segmentation:

The Global Duodenoscopes Market report is segmented into by product type, by application, by end user, and region.

By Product Type , the market is segmented into flexible duodenoscopes and rigid duodenoscopes.

Out of which, flexible duodenoscopes segment  is expected to hold a dominant position in the global duodenoscopes market during the forecast period, owing to increasing 4awareness of gastrointestinal, liver, and pancreatic diseases

By Application , the market is segmented into diagnostics and therapeutics. Out of which, diagnostics segment is expected to dominate the market over the forecast period, owing to early diagnostic tests and prompt treatment can lead to proper recovery.

By End User, the market is segmented into hospitals, clinics, and ambulatory centers. Out of which, hospitals segment is expected to dominate the market over the forecast period, owing toearly treatment in hospital can lead to proper recovery.

Among all the segmentations, the end user segment expected to dominate the market over the forecast period, owing to properly detecting gastrointestinal, liver, and pancreatic diseases.

Global Duodenoscopes Market- Cross Sectional Analysis:

flexible duodenoscopes segment is dominant during the forecast period in North America region as the key players are focusing on launch of advance technological device. For instance, in July 2020, The Ambu, a company that develops, produces, and markets diagnostic and life-supporting devices for hospitals and rescue services in North America, announced launch of  aScope Duoden that is used for endoscopic retrograde cholangiopancreatography (ERCP), a potentially life-saving procedure to diagnose, and to treat problems in the pancreas and bile ducts with advance technology.

Global Duodenoscopes Market: Key Developments

In July 2020 , The Ambu, a company that develops, produces, and markets diagnostic and life-supporting devices for hospitals and rescue services in North America, announced that it had received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for aScope Duodeno.

In January 2022, Wassenburg Medical B.V., a company that provides endoscope reprocessing products and solutions in U.S., announced that it had acquired Custom Ultrasonics, a U.S.-basedmedical equipment manufacturer, i This acquistion will create additional growth into the U.S. market for both companies.

In December 2021, Fujifilm India Pvt Ltd, a medical imaging and diagnostic technologies, Partnered with A’alda Vet India Pvt Ltd animal hospital company in india, to boost healthcare facilities for pets. As part of the partnership, Fujifilm India will provide innovative medical and screening devices to DCC (Dogs, Cats & Companions) Animal Hospital, an initiative by A’alda Vet to increase the standards of the veterinary care in India.

On May 17, 2023, Roche Information Solutions India Pvt Ltd, a company that develops innovative solutions to help labs and clinicians, showcased innovative laboratory solutions and digital diagnostics through  "Innovation Past, Present and Future" at WorldLab-EuroMedLab 2023 in Rome, Italy, on May 21-25, 2023. Attendees had the opportunity to experience first-hand Roche's latest technological advancements in lab automation, serum work area, molecular and point of care solutions and find out more about the company is  transforming patient care through advancements in breakthrough high-medical value diagnostic and digital solutions.

Global Duodenoscopes Market: Key Trends

Shift Towards Single Use Device

Duodenoscopes device is at an early stage of development. Increasing focus on patient safety and infection prevention is boosting adoption of disposable duodenoscopes. This trends aims to reduce the risk of contamination and enhance procedural efficiency. For instance, in February 2020, Olympus Corporation, a Japan-based manufacturer of optics and reprography products, announced that US FDA had approved its TJF-Q190V duodenoscope with a sterile, disposable distal endcap.

Global Duodenoscopes Market: Restraint

Stringent Government Regulations For Manufacturing and Marketing

Stringent Government Regulations For Manufacturing and Marketing are the major factors confining the use of duodenoscopes. For instance on January 10, 2023, the FDA issued warning letters to manufacturers of duodenoscopes in the U.S. including Fujifilm Medical Systems USA, Inc., Olympus Medical Systems Corporation, and Pentax of America thatfailed to provide sufficient data to address postmarket surveillance studies requirements under Section 522 of the Federal Food, Drug, and Cosmetic Act.

Global Duodenoscopes Market - Key Players

Major players operating in the Global Duodenoscopes Market include Custom Ultrasonics, Inc., EndoMed Systems GmbH., Fujifilm Holdings Corporation, Hoya Corporation, KARL STORZ GmbH & Co. KG., Olympus Corporation, Roche Information Solutions India Pvt Ltd, PENTAX Medical Company, Ambu A/S, Boston Scientific Corporation, EndoMed Systems, HOYA Corp., CONMED Corporation, Becton, Dickinson and Company, B. Braun Melsungen AG, Cook Group and SonoScape Medical Corp.