Adoption of Innovative Capsule Endoscopes Driving Revenues in the Gastrointestinal Endoscopy Market

According to the new report entitled US Markets for Gastrointestinal Endoscopy 2007, the fastest growing segment of the GI devices market is capsule endoscopy, valued at over $70 million.

Waltham, MA (PRWEB) October 19, 2006 -- Millennium Research Group (MRG), the global authority on medical technology market intelligence, has conducted a detailed and thorough analysis of the gastrointestinal (GI) endoscopy market. The analysis reveals that the adoption of innovative products, such as the new capsule endoscope designed for colonic indications, will fuel revenue growth over the next five years. According to the new report entitled US Markets for Gastrointestinal Endoscopy 2007, the fastest growing segment of the GI devices market is capsule endoscopy, valued at over $70 million.

“Because the capsule endoscopy procedure is virtually painless, more patients are willing to undergo a screening or diagnostic endoscopy, increasing the patient pool” says Barb Prud’homme, Senior Analyst at MRG. “Moreover, because up to 25% of capsule endoscopy procedures require a follow-up therapeutic procedure using a traditional endoscope, the adoption of capsule endoscopy will fuel growth in therapeutic endoscopic procedure volumes. The November 2006 release of new products from Given Imaging will enable capsule endoscopy investigations of both upper and lower areas of the GI tract.”

Olympus’ 2007 market entry will also boost the capsule endoscopy market. The company will commit significant sales and marketing resources to this technology, further improving accessibility and awareness of capsule endoscopy among patients. Moreover, Olympus’ capsule endoscope will offer several advantages, including enhanced physician control over evaluation times and improved patient comfort.

MRG’s US Markets for Gastrointestinal Endoscopy 2007 report includes coverage of all key industry competitors, including Boston Scientific (BSX), Olympus Surgical (OCPNY), Wilson-Cook, Pentax (PXCPF.PK), Given Imaging (GIVN), CONMED (CNMD), Kimberly Clark (KMB), ERBE, Fujinon, CR Bard (BCR), Ross Medical Products, Inscope (JNJ), Curon Medical (CRNM.OB), Canaday, NDO, US Endoscopy, Applied Medical Technologies, Cordis, Corpak, Curon Medical, Guidant, and Medtronic (MDT).

About Gastrointestinal Endoscopy
GI endoscopes are used to visualize and perform therapy within the GI tract. Common GI endoscopy procedures include colonoscopy, esophagoduodenoscopy, and endoscopic retrograde cholangiopancreatography. GI procedures rank among the most frequently performed minimally invasive procedures in the US, with over 11 million colonoscopies and 5 million upper endoscopies performed in 2006.

About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources, Inc. company (www.DecisionResources.com), is a leading provider of strategic information to the health care sector. Focused solely on the medical device, pharmaceutical, and biotechnology industries, the company provides its clients with the benefits of its specialized industry expertise through published reports and customized consulting services.

All company, brand, or product names contained in this document may be trademarks or registered trademarks of their respective holders.

For more information, contact:

Amy Krohn
Millennium Research Group
416-364-7776 x101

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