VANCOUVER, Canada―According to a new report by iData Research, a company that studies global medical-device markets, the U.S. gastrointestinal endoscopic device market was valued at almost $1.9 billion in 2011. Gastrointestinal (GI) endoscopy will be fueled by an increase in colon-cancer screening and anti-reflux procedures, the report continued. In addition, the adoption of newer technologies such as double-balloon and ultrasound endoscopes, will drive sales. By 2018, the market is expected to reach annual sales of more than $2.7 billion.
"Over the last decade, great strides have been made in raising awareness about colon cancer, resulting in steady growth in the number of colonoscopies performed each year in the U.S.," said Dr. Kamran Zamanian, CEO of iData. "In addition, adoption of GI ultrasound endoscopy for detecting incremental cancer growth is gaining popularity, especially within private practices. As more physicians are familiarized with the technology, market leaders Pentax and Olympus will see strong sales growth."
The report states that gastrointestinal hemostasis devices, which are used to repair gastrointestinal hemorrhaging, are also expected to see rapid growth. This will be fueled by the adoption of ligation clips, which are less expensive and can be more effective than alternative therapies. The ligation-clip segment is expected to more than double in value by 2018, with Boston Scientific and Olympus leading the market, followed by Cook Medical. In addition, combination therapies that combine multiple hemostasis devices in a single procedure to increase the likelihood of success are also expected to drive unit sales for other manufacturers such as ERBE, Conmed and U.S. Endoscopy.
Additionally, the report states that the number of anti-reflux procedures, used for the treatment of gastroesophageal reflux disease (GERD), will increase almost seven-fold by 2018 in the United States, driving anti-reflux device sales. This increase in procedural volume will be fueled by the obesity epidemic in the United States, improved awareness among patients and physicians as well as recent studies that indicated serious side effects from long-term use of anti-reflux medication, the primary alternative to surgery.