Gastrointestinal (GI) Endoscopy Devices: A Global Strategic Business Report
San Jose, California (PRWEB) November 17, 2011
Follow us on LinkedIn – Gastrointestinal (GI) endoscopes are increasingly being utilized in performing common surgical procedures, and in diagnosing cancer and other diseases. Endoscopically performed procedures are less invasive and offer significant cost savings in terms of pre and post operative care and length-of-stay at hospitals. Recent advancements in endoscopic technology such as high-resolution magnification endoscopy, confocal microendoscopy, endocytoscopy, narrow-band imaging is playing a key role in early detection of oesophageal microcarcinomas. Patient demand, preference and acceptance of less invasive surgical procedures are directly translating into increased demand and rate of deployment of GI endoscopy devices. Aging population, demand for preventive screening procedures such as colorectal screening, and growing awareness among people towards this medical discipline are also contributing to increased usage of GI endoscopes.
As stated by the new market research report on Gastrointestinal Endoscopy Devices, the US is the single largest regional market worldwide. The US is also the fastest growing market displaying a CAGR of 9.7% over the analysis period. Market for GI endoscopes is witnessing increased demand in the region backed by widespread device usage among the medical community, greater patient conformance due to its less invasive characteristics, low cost of the product, and higher return on investments for hospitals. Expanding applications coupled with increasing incidences of esophageal and colon cancer, and newer types of endoscopes such as flexible scopes and electronic video endoscopes, is expected to additionally spur growth. Asia-Pacific represents a rapidly growing market for endoscopy driven by an expanding chronically ill and aging population, penetration of minimally invasive surgery technologies, growing economic affluence, and increased availability of healthcare services.
Physician acceptance and cost remain the two major factors influencing adoption and market penetration of these technologies. GI Videoscopes represents the largest product segment in the US. Capsule Endoscopes represent the fastest growing product segment at a CAGR of 29% over the analysis period. High sensitivity, specificity, and superior visualization, characterizes capsule endoscopy. Major factors driving growth of capsule endoscopy devices are increasing awareness of its potential advantages over conventional endoscopy devices and its capability to diagnose the otherwise difficult to diagnose small bowel anomalies. In addition, reimbursement coverage for capsule endoscopy is also driving its increased usage in screening small bowel disorders.
Major players in the marketplace include Boston Scientific Corporation, CONMED Corporation, Fresenius Kabi AG, Fujifilm, Given Imaging, Ltd., Hoya Corporation, Johnson & Johnson, Cordis Corporation, Ethicon Endo-Surgery, Inc., KARL STORZ GmbH & Co. KG, Medi-Globe GmbH., Olympus Corporation, Gyrus ACMI, Olympus America, Inc., Olympus Medical Systems, Richard Wolf GmbH, among others.
The research report titled “Gastrointestinal (GI) Endoscopy Devices: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of trends, issues, strategic industry activities, and profiles of major companies worldwide. The report provides market estimates and projections (US$ Million) for product segments GI Videoscopes (Video Colonoscopes, Video Gastroscopes, Video Duodenoscopes, Video Ultrasound Endoscopes, and Others), Endoscopic Retrograde Cholangiopancreatography (ERCP) Devices, Biopsy Devices, Hemostatis Devices, Capsule Endoscopy, and Others (Enteral Feeding Devices, Esophageal & Biliary Stents, Esophageal Dilation Balloons, Retrieval Devices, Polypectomy Snares, And Anti-Reflux Devices) across geographic markets such as the US, Europe and Rest of World.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Gastrointestinal_GI_Endoscopy_Devices_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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