U.S. Gastrointestinal Endoscopic Market to Keep Expanding
Friday, April 10, 2015
A new market report forecasts continued growth in almost all segments of the approximately $2.35 billion U.S. gastrointestinal (GI) endoscopic market through 2020. Despite falling sale prices, this trend is possible in part because of baby boomers' need for GI screening and interventions.
The report, “U.S. Market for Gastrointestinal Endoscopic Devices,” from iData Research, an international market research and consulting group, details the sector by product type, including capsule endoscopy, Barrett’s esophagus ablation devices, virtual colonoscopy, polypectomy snares, and several others.
The GI endoscopic industry is a well-established, concentrated market, with one giant player, Olympus Corp. Other major companies, such as Boston Scientific Corp., Covidien (now part of Medtronic Plc), and Cook Medical. The top 10 companies in this market together hold almost 90% market share, according to the report.