High Definition GI Endoscopes and Wireless Capsules Lead the Way in Gastrointestinal (GI) Endoscopy Devices Market

The world market for gastrointestinal (GI) endoscopy devices is expected to reach $2.9 billion by the end of 2009. Marketstrat is projecting a 6.1 percent annual growth for the years 2008-2016.

Dublin, CA (PRWEB) November 5, 2009 -- Technological innovation and population-wide colorectal cancer screening programs are helping the GI Endoscopy market through the turbulent economic climate. Diseases driving overall growth are colorectal cancer and GERD in the West and stomach and esophageal cancer in the East. The largest market segment is GI Endoscopes/Videoscopes, while the fastest growing segments are Capsule Endoscopy and Reprocessed Biopsy Forceps.

Capsule Endoscopy is creating a new wave of growth due to greater patient acceptability. Availability of more affordable capsule endoscopes and new technology aimed at improving functionality and image analysis will help in further expansion of this segment. Price wars are lowering unit prices for new devices. Reasons vary from the availability of reprocessed single-use devices to multiple-brand compatibility of many instruments and the availability of a wide range of brands of devices such as forceps and hemostasis devices. Virtual colonoscopy is no longer reimbursed by Medicare. This will help traditional colonoscopy remain as the gold standard in the US. Reimbursement in Europe however is still available.

In a new report titled “Gastrointestinal (GI) Endoscopy Devices Worldwide,” Marketstrat finds that the GI Endoscopy market is largely underpenetrated. Many GI disorders remain under-reported and under-diagnosed, including GERD and IBS. Many colon cancers are detected at an advanced stage. Colon cancer screening is recommended at regular intervals for all people over the age of 60, yet only 40% of this population is estimated to comply with clinical guidelines. There is a shortage if trained clinicians. Demand for GI endoscopy in Asia is primarily due to rising rates of esophageal cancer and high rates of stomach cancer.

GI Endoscopy will continue to be a high volume, lower reimbursement service in the US. Over the last few years, GI endoscopy has largely shifted from a hospital outpatient setting to ambulatory surgery centers and physician’s offices. Currently, gastroenterology is the most common procedure carried out at ambulatory surgery centers. However, recent reductions in Medicare coverage in the US will impact GI endoscopy done at ambulatory surgery centers. Changing demographics in developing countries, such as increasing affluence and affluence-related lifestyle factors including sedentary habits and malnutrition, will further drive up rates of acute and chronic GI disorders in people of all ages. Strong growth is expected in Europe, Asia and the rest of the world, as healthcare expenditures rise in parallel to screening and diagnosis rates.

Technology will continue to make a marked impact. Olympus, Pentax and Fuji are leading the way with HD scopes. Olympus is the pioneer with combined HD and narrow band imaging devices. Aging populations and obesity rates will lead to more cases of chronic gastrointestinal disorders such as GERD and cancers. Colon cancer in Western countries will continue to create a demand for screening, diagnostic and therapeutic purposes. Despite a general decline in colon cancer rates over the last decade, it is the second largest type of cancer in the US. Rates of stomach and esophageal cancers are higher in Asia. Westernization is leading to rising rates of non-malignant diseases such as GERD and IBD.

Gastrointestinal disorders comprise a wide array of acute and chronic disorders in people of all ages. Endoscopy has become the gold standard for diagnosis and treatment of many of these conditions; one of the main uses is screening for colorectal polyps and their subsequent removal. Government programs worldwide and healthcare advocates are encouraging routine screening for older people thought to be at an elevated risk. More than 14 million colonoscopies are performed annually in the US. The colonoscopy market is estimated to grow worldwide as new research findings validate the usefulness of early intervention that can save millions of lives. GI endoscopy is also useful for diagnosing GERD, IBS, IBD, blockages in the pancreatic and bile ducts, unblocking other sections of the gut by removing strictures, foreign objects, etc.

Marketstrat’s new report discusses current and emerging trends in GI Endoscopy including technological innovations, disease rates and clinical practice patterns. Market shares of leading providers and competitive factors are discussed, along with profiles of market participants. Detailed market estimates and forecasts are presented for the US, Europe, Japan and the rest of the world (ROW) in USD for the years 2008-2016, for the following product segments:

GI Endoscopes/ Videoendoscopes; Biopsy Forceps; Reprocessed Biopsy Forceps; ERCP Devices; Stents; Enteral Feeding Devices; Esophageal Balloons; Hemostasis Devices; Polypectomy Snares; Retrieval Devices; Capsule Endoscopy; Virtual Colonoscopy.

For more details on this report please visit: http://www.marketstrat.com/reports/available-report/gastointestinal-gi-endoscopy-devices-worldwide.html

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