Gastrointestinal Endoscopy Equipment: The Global Market
October 12, 2009
Wellesley, Mass. – According to a new technical market research report, Gastrointestinal Endoscopy Equipment: The Global Market from BCC Research (www.bccresearch.com), the gastrointestinal endoscopy equipment market amounted to more than $3.9 billion in 2008, increased slightly to an estimated $4 billion in 2009, and is expected to reach $5.5 billion in 2014, for a 5-year compound annual growth rate (CAGR) of 6.6%.
Gastrointestinal endoscopy is a medical procedure by which physicians examine the inside lining of a patient’s digestive tract using an endoscope, which is a tube made from a variety of materials with a video device affixed to its end. As the endoscope is introduced into the patient’s digestive tract, the images are displayed on a monitor or video screen. Gastrointestinal endoscopy is used for the diagnosis of a variety of gastrointestinal (GI) diseases and conditions, as well as for the administration of some GI treatments.
SUMMARY FIGURE
GLOBAL MARKET FOR GASTROINTESTINAL ENDOSCOPY EQUIPMENT, 2005-2014
($ MILLIONS)
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Source: BCC Research
The gastrointestinal endoscopy field is driven by rapidly evolving technology, an aging population, and the increased recognition of the many problems associated with morbid obesity. BCC analyzed the industry on a worldwide basis from the market, product, and technology perspectives. Regulations in the U.S. and global markets were also examined to identify consumer safety, product introduction and product safety regulatory issues.
Based on this analysis, the report finds that despite an environment of market inhibition for new gastrointestinal endoscopy devices, systems, procedures, and even peripherals, there are many drivers for this market as well, particularly in the segments involving the treatment of an aging and increasingly obese global population, the evolution of noninvasive endoscopic-related diagnostic procedures, and demands by employer-based and government-funded health insurance companies to require specific screenings for covered insurance members at certain points in their lives.
Among the growth projections made in this study, Gastrointestinal Endoscopy Equipment: The Global Marketvalues the largest segment of the market, gastrointestinal diagnostic equipment, at an estimated $2.4 billion in 2009. It’s expected to grow to nearly $3.3 billion in 2014, for a 5-year CAGR of 6.6%. The veterinary endoscopic equipment segment is projected to reach $39 million in 2009, and to grow at a CAGR of 6.4% to nearly $53 million in 2014. This last category does not directly relate to the human-related procedures, but it was included because, at present, the companies specifically positioning products for the veterinary market are also providers for the human equivalent of parallel equipment.
Gastrointestinal Endoscopy Equipment: The Global Market( HLC064A )
Publish Date: Aug 2009
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. For media inquiries, email press@bccresearch.com or visit www.bccresearch.com/media to request access to our library of market research.
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