New report published by Progressive Markets on Duodenoscopes Market is projected to reach $197 million by 2025, growing at a CAGR of 3.7% from 2018 to 2025.
Pune, India, Aug. 29, 2018 (GLOBE NEWSWIRE) — According to a new report published by Progressive Markets Report, titled, “Duodenoscopes Market by Type, Application and End user: Global Opportunity Analysis and Industry Forecast, 2017-2025,” the market was valued at $145 million in 2017, and is projected to reach $197 million by 2025, growing at a CAGR of 3.7% from 2018 to 2025. The diagnostic duodenoscope is anticipated to be the highest revenue contributor during the forecast period.
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Duodenoscope is a reusable, flexible, illuminated tube used to treat & diagnose gastrointestinal disorders of pancreas and bile ducts. Duodenoscope is introduced through the mouth, throat, and stomach into the top portion of the duodenum. It is mainly used while performing endoscopic retrograde cholangiopancreatography (ERCP). Duodenoscope is a minimally invasive technique to drain fluids from pancreatic and biliary ducts.
The major factors that drive the duodenoscopes market include increase in gastrointestinal disorders, technological advancements in medical devices and rise in preferences toward minimally invasive procedures. However, increase in number of duodenoscope related multidrug-resistant bacterial infections such as E. coli and Klebsiella, hampers the growth of the duodenoscope market.
By the type segment, flexible duodenoscopes accounted for nearly 74.5% of market share in 2017. The rigid duodenoscope on the other hand is anticipated to be the fastest growing segment, poised to grow at a CAGR of 3.8% from 2018 to 2025. Based on region, North America is anticipated to dominate the duodenoscope market.
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By the application segment, the treatment segment accounted for nearly 60.4% of the market share in 2017. The diagnostic segment is anticipated to grow at the highest CAGR of 39.5% from 2018 to 2025, owing to increased use of duodenoscope to detect small intestinal abberations, trauma or surgical complications in bile or pancreatic ducts, tumors of the bile ducts, inflammation of the pancreas, and others.
By the end-user segment, the hospital segment accounted for nearly 55.2% of the market share in 2017. The clinic segment is anticipated to grow at the highest CAGR of 5.1% from 2018 to 2025, owing to increased use of duodenoscope in clinics such as gastroenterology clinics to diagnose gastrointestinal aberrations.
The study offers a comprehensive analysis of the key manufacturers operating globally in duodenoscope. An overview of each market player is provided in the study to assist market players, new entrants, investors, and stakeholders determine steps to be taken to achieve growth in the future.
The report highlights their overview, business performance, key strategic moves & developments, and market share with respect to the market players in the report. Important market players studied in the report include Fujifilm Holdings Corporation, KARL STORZ GmbH & Co. KG., Olympus Corporation, Custom Ultrasonics, Inc., Hoya Corporation, Boston Scientific Corporation, Conmed Corporation, Becton, Dickinson and Company. B. Braun Melsungen AG, and Cook Group Incorporated.
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