ROCKVILLE, Md.—MarketResearch.com today released a new report called "Endoscopy Devices: Applications and Global Markets."
The report addresses emerging players and technologies, and specific disease segments and geographies. It’s compiled by MarketResearch.com, which bills itself as the world's largest and continuously updated collection of market research. The company offers more than 300,000 market research reports.
MarketResearch.com’s summary of the endoscopy market is such:
“The overall medical device market is very large; endoscopy is a significant component of that market. For companies with an effective strategy, market opportunity awaits. However, the ability to develop an effective strategy begins where opportunity exists and ends with effective execution and capturing profit from the opportunity.
“The endoscopy market is positioned for significant growth in the next five years. The endoscopy market worldwide was $23.3 billion in 2010 and is projected to reach nearly $24.8 billion in 2011. This is further anticipated to increase to $33.7 billion by 2016 at a compound annual growth rate (CAGR) of 6.4 percent.
“Laparoscopy accounts for more than 26 percent of the total market and is expected to reach $6.8 billion by end of 2011 and to increase up to $10.6 billion by 2016 at a compound annual growth rate (CAGR) of 9.2 percent.
“Endoscopy of the GI track for tumors, adhesions, diverticulitis, etc. is projected to experience an increase from $3.7 billion in 2011 to more than $4.9 billion in 2016, a CAGR of 5.7 percent.
“This is due, in part, to new applications for the technology, as well as new innovations in the technology itself. The other major factor that will contribute to this growth is the recognition of this technology in emerging markets like Japan and Vietnam. Continued worldwide growth is expected in other geographic areas due to a growing middle class in countries such as India, China, Brazil, and Russia.
To learn more about the report, click here.
For an EndoNurse news story on another recently released endoscopy report, see New Report Predicts Stent Growth in U.S. Markets.