According to a new global report series by iData Research, the US market for gastrointestinal endoscopic devices is estimated to grow at double-digit rates, reaching over $1.8 billion by 2016.
According to a new global report series by iData Research, the US market for gastrointestinal endoscopic devices is estimated to grow at double-digit rates, reaching over $1.8 billion by 2016. Some of the fastest growing market segments include the anti-reflux market, which is expected to triple in value by 2011. Growth in the esophageal stent market is also estimated to see double-digit growth through 2016, as surgeons are using stents for additional indications, such as bariatric conditions.
Gastrointestinal endoscopy is a non-invasive procedure used to diagnose and treat malfunctions and diseases in the digestive track. The largest segment of this market was GI endoscopes, which represented 32% of the overall market in 2009. However, capsule endoscopic devices will experience significant growth to become the second-largest market segment by 2016, due to advancements in camera capsule technology. In addition, the ultrasound endoscope market is expected to grow at a CAGR of 16% as more physicians are trained to use the devices.
"Nearly 50% of all GI procedures performed in 2009 were colonoscopies, reflecting the growing frequency of regular colon exams for early diagnosis of colorectal cancer," says Dr. Kamran Zamanian, CEO of iData. "Growth of virtual colonoscopy procedures will remain modest due to reimbursement issues and lingering concerns of the effectiveness of the procedure relative to conventional colonoscopies."
iData's global series on the Markets for Gastrointestinal Endoscopic Devices 2010 includes comprehensive analyses of the markets for gastrointestinal endoscopes, capsule endoscopy, virtual colonoscopy, stenting and dilation devices, ERCP devices, biopsy forceps, polypectomy snares and FNA devices, foreign-body retrieval devices, hemostasis devices, anti-reflux devices and enteral feeding devices.
The report series also includes comprehensive competitive analyses, which cover companies such as Boston Scientific, ConMed, Cook Medical, EndoGastric Solutions, Given Imaging and Olympus, among many others.
For more information, register free on iData's website.
Source: iData Research Inc.