VANCOUVER, BC--(Marketwired - September 20, 2016) - According to a new series of reports on the U.S. gastrointestinal device market by iData Research (https://www.idataresearch.com/), average selling prices (ASPs) are expected to remain under significant pressure due to purchasing consolidation as hospitals acquire outpatient facilities. In addition, the expanding reach of group purchasing organizations together with reimbursement cuts across the gastrointestinal (GI) device space has negatively impacted growth of the market. However, the rising prevalence of GI related conditions, coupled with the tremendous adoption of colorectal cancer screening programs is projected to result in growth in the overall market.
"One of the main drivers in this market is the growth in procedure numbers, especially colonoscopies," explains Dr. Kamran Zamanian, CEO of iData. "Colonoscopy has become the gold standard in colorectal cancer screening programs, with more than 18 million procedures performed annually."
One of the largest segments in the total U.S. GI endoscopic device market is the GI flexible endoscope segment. The large size of this segment is due to a combination of high ASPs coupled with a relatively short product lifespan, resulting in constant equipment renewal. The majority of total GI endoscopic unit sales consist of devices used in the hospital setting, either at a designated endoscopy room or general surgery suite, and others being used in outpatient centers, such as ambulatory surgery centers.
The fastest growing segment of the GI endoscopic market is the anti-reflux device market as there is a large gap between the number of people suffering from the condition and people who receive the treatment. As of 2016, 22 million people suffered from chronic gastroesophageal reflux disease (GERD) of whom 12.1 million used medicinal treatments, which can be ineffective in a significant number of cases. As more devices are entering this market, and reimbursement structure becomes more favorable, the market penetration is expected to rise significantly, resulting in the anti-reflux segment being the only part of this market with double-digit growth rates.
Boston Scientific is the leading competitor in the U.S. GI endoscopic device market. They have one of the broadest product portfolios in the market, most notably in ERCP, tissue biopsy and hemostasis. The company also holds significant market share in the stenting and dilation segments due to the popularity of less-invasive treatment options.
Olympus is the second leading competitor in the U.S. GI endoscopy market. The company is a long-standing leader in the GI endoscopes market. The company has recently introduced a new generation of the endoscope system marketed under the EVIS EXERA III CV-190 series. Additional competitors in the U.S. GI endoscopic market include Medtronic, Cook Medical, Pentax, Halyard, Medline, FujiFilm, ConMed, Moog, C. R. Bard, Endogastric and GE Healthcare among others.
For Further Information
More on the GI endoscopy market in the U.S. can be found in a series of reports published by iData Research entitled the US Market Report Suite for Gastrointestinal Endoscopic Devices 2017 - MedSuite. The suite covers reports on the following markets: GI flexible endoscopy, capsule endoscopy, virtual colonoscopy, endoscopic retrograde cholangiopancreatography (ERCP), stenting and dilation, biopsy, specimen and foreign-body removal, hemostasis, enteral feeding, anti-reflux, and Barret's Esophagus.
The iData report series on GI endoscopic devices covers the U.S. and 15 countries in Europe including Germany, France, the United Kingdom (U.K.), Italy, Spain, Benelux (Belgium, Netherlands and Luxemburg), Scandinavia (Finland, Denmark, Sweden and Norway), Portugal, Austria and Switzerland. Reports provide a comprehensive analysis including units sold, procedure numbers, market value, forecasts, as well as detailed competitive market shares and analysis of major players' success strategies in each market and segment. To find out more about GI market data or procedure data, register online or email us at firstname.lastname@example.org for a US Market Report Suite for Gastrointestinal Endoscopic Devices 2017 - MedSuite brochure and synopsis.
About iData Research
iData Research (https://www.idataresearch.com) is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: Endoscopy, Urology, Surgical Microscopes, Operating Room Equipment, Robotics and Surgical Navigation, Laparoscopy, Gynecology, Vascular Access, Interventional Cardiology, Cardiac Surgery, Cardiac Rhythm Management, Electrophysiology, Ultrasound, X-Ray Imaging, Diagnostic Imaging, Oncology, Spinal Implants and VCF, Spinal MIS, Orthopedic Soft Tissue Repair and Regeneration, Orthopedic Trauma, Large & Small Joints, Anesthesiology, Wound Management, Orthopedics, Ophthalmics, Dental Operatory Equipment and more.