6 Observations on the U.S. Market for GI Endoscopy Devices

The U.S. market for gastrointestinal endoscopy devices includes videoscopes, enteral feeding devices, endoscopic retrograde cholangiopancreatography devices, hemostasis devices, biopsy forceps, stents, virtual colonoscopy systems, esophageal dilation devices, small bowel capsule endoscopes, polypectomy snares, Barrett’s esophagus ablation devices and retrieval devices, according to Millennium Research Group's U.S. Markets for Gastrointestinal Endoscopy Devices 2010 report.

Here are six observations on the market through 2014, according to the report.

1. The aging population will raise demand for these devices as more people develop conditions that require endoscopic treatments.

2. Increased insurance coverage for colorectal cancer screening will also fuel sales of these devices.

3. Adoption of advanced technologies will boost overall revenues because they will be sold at premium price points.

4. Market growth will be somewhat restricted, however, as hospitals and manufacturers continue to cut costs in an uncertain economy.

5. Price competition will impede average selling price gains, while sales of lower-priced reprocessed devices will impair sales of new products.

6. These limitations will nevertheless be outweighed by the market's drivers, and total revenues will increase through 2014 at a compound annual growth rate of over 6 percent.

Read more about gastroenterology:

- 5 Trends for GI ASCs From Barry Tanner of Physicians Endoscopy

- Gastroenterologist Dr. Fernando Bermudez Comments on Study of PCPs Performing Colonoscopies

- Study: Split-Dosage Bowel Prep Solution More Effective Pre-Colonoscopy

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