Caren B. Les, firstname.lastname@example.org
WELLESLEY, Mass. – Global sales in the gastrointestinal endoscopy equipment market are expected to reach a value of $5.5 billion in 2014, up from $3.9 billion in 2008 and an estimated $4 billion in 2009, with a compound annual growth rate of 6.6 percent, according to a report from market analysis firm BCC Research. Used for medical diagnosis and treatment, endoscopes are minimally invasive systems for looking inside the body. Typically, a system includes a rigid or flexible tube, a light delivery system, a lens system to transmit images to the viewer, and a channel for medical instruments or manipulators.
Published in August 2009, the report, Gastrointestinal Endoscopy Equipment: The Global Market (HLC064A), indicates that revenues from gastrointestinal endoscopy diagnostic equipment, the largest segment of the market, are likely to rise in the next five years. By 2014, they should reach $3.3 billion, up from an estimated $2.4 billion in 2009, with a compound annual growth rate of 6.6 percent. The value of endoscopy treatment equipment, the second largest segment, is projected to increase as well.
Among the factors contributing to growth in the field of gastrointestinal endoscopy are an aging global population and an increase in the number of gastrointestinal conditions and treatments. These include colon and rectal cancer diagnoses and treatments and obesity treatments, such as the use of gastric banding as an aid for weight loss, according to the company. Obesity is now recognized as a disability and, consequently, more treatments for the condition are being covered by conventional medical insurance companies.
The diagnostic endoscopy equipment segment is large partly because increasing numbers of health insurance organizations are encouraging or requiring diagnoses that can be determined using the equipment and related techniques, according to the company.
Within the diagnostic sector, from 2009 to 2014, the gastroscope market is expected to have a compound annual growth rate of 10.3 percent because of the instruments’ role in obesity-related treatments. The fiber endoscope market is projected to have a compound annual growth rate of 10.1 percent mainly because the technology costs associated with these systems are decreasing.
Colonoscope systems that employ CCD cameras are expected to have a compound annual growth rate of 10.2 percent during the five-year period, partly because of increased aging and obesity in the global population, which have a high correlation with a global rise of colon and colorectal cancer.
Computer equipment for endoscopy information, interpretation and process improvement is projected to have a compound annual growth rate of about 6 percent from 2009 to 2014, although the revenues associated with these systems are forecast to be almost $2 billion in 2014 alone, according to Sarah LoPrinzi, author of the report.
Revenues from endoscopic equipment for the diagnosis and treatment of upper gastrointestinal conditions such as gastro-esophageal reflux disease and Barrett’s esophagus are expected to have a compound annual growth rate of 9.5 percent during the five-year period, according to LoPrinzi.
The company projects that sales of “endoscopy in a box” systems will have a compound annual growth rate of 9.1 percent. Designed to provide end-to-end solutions for medical practitioners, the kits include equipment and accessories for performing a wide variety of endoscopy procedures.
The veterinary endoscopic equipment segment is projected to reach $53 million in 2014 with a compound annual growth rate of 6.4 percent. Worth nearly $38 million in 2007, the segment decreased to $34 million in 2008, according to the report. Drivers for this market include the decreased cost of diagnostic procedures and the fact that pet owners are now willing to spend more on their pets for diagnostic and treatment procedures, LoPrinzi said.