Release of New Capsule Endoscopes will Spur Market Growth

Overall Capsule Endoscopy Market will Achieve an Explosive Compound Annual Growth Rate of 50% between 2007 and 2011

Waltham, MA (PRWEB) May 30, 2007 -- Millennium Research Group (MRG) has conducted a detailed analysis of the US video and high-tech device market in its US Markets for Video and High-Tech Hardware Devices 2007 report. The analysis reveals that capsule endoscopy is the fastest-growing segment of the market, with a compound annual growth rate set to reach approximately 50% over the next five years. The expected release of products currently awaiting FDA approval, such as the PillCam COLON capsule by Given Imaging, will drive this market, which was valued at over $65 million in the US in 2006. These new product releases and the ongoing adoption of existing capsule products will cause the US capsule endoscopy market to skyrocket to over $370 million by 2011.

During a capsule endoscopy procedure, a PillCam capsule is swallowed by the patient and a data recorder is affixed to a belt around the waist. Images are transmitted from the PillCam capsule to the data recorder via sensors attached to the abdomen. The entire process lasts up to 8 hours or until the pill is excreted, and the patient can continue all of their normal daily activities while the images are being collected.

"Colonoscopy procedures are strongly recommended for all persons over the age of 50. Due to the unpleasant nature of the traditional diagnostic colonoscopy the adoption of the PillCam COLON as a diagnostic alternative will be high. The recent FDA approval of Given Imaging's PillCam SB 2 capsule will further increase patient awareness and access to capsule endoscopy procedures," says Barbara Prud'homme, senior analyst at MRG.

US Markets for Video and High-Tech Hardware Devices 2007 report includes coverage of key industry competitors, including Stryker Endoscopy, Intuitive Surgical, Karl Storz, Given Imaging, CONMED-Linvatec, Smith & Nephew, Olympus, Gyrus ACMI, Richard Wolf, Codonics, FUJIFILM Medical Systems, Interlabs, NDS Surgical Imaging, Panasonic, Pentax Medical Company, Skytron, Berchtold, Getinge, CompView, Steris, Hewlett Packard, and Sony.

About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources, Inc. company (www.DecisionResources.com), is the global authority on medical technology market intelligence and 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.

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