Trefis analysts believe Boston Scientific’s endoscopy division makes up 20 percent of its total portfolio. Analysts believe the company is turning towards endoscopy to reverse losses its cardiovascular medical device business fielded.
Here’s why Boston Scientific is turning to endoscopy:
1. Trefis analysts project the market will grow at a compound annual growth rate of 6 percent annually, exceeding $40 billion by 2022.
2. Aging populations in the U.S., Europe and Japan prefer minimally invasive surgeries, which is driving market growth.
3. Improved visualization hardware is also contributing to market growth.
4. Boston Scientific has several flexible endoscopes which are the market’s leading driver.
5. Trefis analysts believe growing competition and shrinking market shares in the interventional cardiology, pacemaker and defibrillator market also have contributed to Boston Scientific’s horizontal shift.
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