The gastrointestinal endoscopic device market has $8.5B in its sights: 5 things you need to know

According to Zion Research, the future of the gastrointestinal endoscopic device market has $8.5 billion in sight, Net Dug Out reports.

Here's what you need to know.

1. In 2015, the market accounted for $5.6 billion and it's expected to reach $8.5 billion by 2021. The market's CAGR projects to be 7 percent between 2016 and 2021.

2. Gastrointestinal endoscopic devices are in high demand because of an increase in GI disorders.

3. That demand could slow because of fear over high infection rates in endoscopes and a decreasing reimbursement base.

4. GI videoscopes were the key market player in 2015, but Zion expects capsule endoscopes to challenge that market share.

5. North America is the manufacturing leader with a more than 30 percent market share. The Asian Pacific market projects to be the fastest growing in the coming years,

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