Endoscopy Devices Market to 2016 - Need For Therapeutic Endoscopy and Advancements in HD Endoscopy to Drive Flexible Endoscopes

17 Jan 2011 • by Natalie Aster

GBI Research’s report, “Endoscopy Devices Market to 2016 - Need for Therapeutic Endoscopy and Advancements in HD Endoscopy to Drive Flexible Endoscopes” provides key data, information and analysis on the global endoscopy devices market. The report provides market landscape, competitive landscape and market trends information on seven endoscopy devices market categories – Flexible Endoscopes, Rigid Endoscopes, Endoscopy Fluid Management Systems, Endoscopy Visualization Systems, Endoscopic Instruments, Capsule Endoscope Systems and Endoscopic Reprocessors. The report provides comprehensive information on the key trends affecting these categories, and key analytical content on the market dynamics. The report also reviews the competitive landscape and a detailed analysis of the pipeline products in each category. The report also reviews details about important merger and acquisition deals that have taken place in the endoscopy devices market during the past three years. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GBI Research’s team of industry experts.

The global market for endoscopy devices is forecast to exceed $6.5 billion by 2016 with a Compounded Annual Growth Rate (CAGR) of 4% from 2009 to 2016. The market is expected to be driven by demand from the US, Japan, Germany and Italy. As these countries focus is on technological advancements in minimally invasive surgeries such as natural orifice transluminal endoscopic surgery and medical robotics assisted surgery, which will bring enhancement in surgery, over open surgery and increase the demand for minimally invasive surgery. There is an increased preference for outpatient surgeries because minimally invasive procedures cause fewer traumas to tissues and provides faster recovery period. This trend is seen across the US and Europe which will boost the endoscopy devices market. In the emerging countries such as Brazil, China and India, the focus is on improving healthcare facilities such as construction of new hospitals in public and private. This will provide access of healthcare to a larger population, increasing procedure volumes for minimally invasive surgeries. Increasing patient awareness, high incidence of diseases in aging population will lead to increase in demand for endoscopy procedures. The change in lifestyle and increasing affordability of patients across emerging countries is expected to drive the market for endoscopy devices.

The US is the biggest market for endoscopy devices, contributing 46% towards the global market in 2009. The value of this share at that time was $2.3 billion and this is forecast to grow at a CAGR of 5% to reach $3.1 billion by 2016, increasing the US`s contribution to 48%. The second largest market is Europe, which contributed 27% towards the global market in 2009. Factors, such as the growing preference for outpatient surgery and the increased reimbursement coverage for colorectal screening in the US are expected to boost the endoscopy devices market. In the US, capsule endoscope systems are going to be the fastest growing category of endoscopy devices, rising with a CAGR of 10% to reach $185m by 2016. This is because these systems provide a higher comfort level when compared to flexible and rigid endoscopes used for similar diagnostic purposes. Also, there are several colorectal cancer (CRC) screening initiatives being taken by many European countries that will raise patient awareness of the disease and fuel colorectal cancer treatment procedures, which in turn will increase the need for endoscopy devices over the next few years.

In 2009, Olympus Medical Systems Corporation, with a 34% share, was the leader in the global endoscopy devices market, followed by FUJIFILM Holdings Corporation with 6% and Hoya Corporation with 5%. The other significant players in this market are KARL STORZ GmbH with a 4% market share and Given Imaging Ltd with 3%. These major players have been actively acquiring other companies, which has enabled them to strengthen their market presence. The market dominance of Olympus Medical Systems Corporation can be attributed to its major presence in the flexible endoscopes market, which is the largest category in the endoscopy devices market, and the wide range of flexible endoscopes the company offers to its clients (including hospitals, clinics and outpatient centers). The company’s core competency is opto digital technology, which is an integration of the advanced optical technologies and the latest digital technologies. The company manufactures flexible and rigid endoscopic equipment, which plays a major role in minimally invasive surgery. The company provides endoscopic solutions for a wide range of surgical applications such as NOTES (Natural Orifice Transluminal Endoscopic Surgery). It also supplies reprocessing systems and a vast selection of endotherapy accessories, which has made Olympus a leading company in the endoscopy devices market.

In 2009, the flexible endoscopes contribution towards the global endoscopy devices market was 48%. This contribution is forecast to increase to 59% by 2016. The global market for flexible endoscopes was valued at $2.4 billion in 2009, and is forecast to grow at a CAGR of 7% to reach $3.9 billion in 2016. The market is expected to be driven by an increasing number of colonoscopy procedures and technological advances. The rise in the number of colonoscopy procedures is due to the increase in reimbursement for colorectal cancer screening. According to estimates from the US Department of Health and Human Services (HHS), the legal enactment of the Patient Protection and Affordable Care Act will remove financial barriers for 41 million people within the year. However, this fact is likely to lead to a much greater demand for preventive services, thus creating opportunities for flexible endoscope manufacturers. Minimally invasive surgeries have transformed patient acceptance in a significant way. Not only do these procedures save costs, but they also provide considerable benefits such as faster recovery times and reduced pain to patients. Innovation in flexible endoscopes and advancements in high definition visualization required during the surgery are driving the flexible endoscopes market revenue.