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Market Analysis: Flexible Endoscopy

Videoscopes accounted for 89 percent of the market for flexible endoscopes in 2010, or $2.1 billion of the total $2.4 billion flexible endoscopes market.

Wed Oct 05 2011By Lanier Norville, Medical Dealer Magazine

The global flexible endoscopes market was estimated at $2.4 billion in 2010 and is forecast to grow at a Compound Annual Growth Rate (CAGR) of 4 percent to reach $3.1 billion by 2017, according to a new report published by companiesandmarkets.com.

 

The U.S. is the biggest flexible endoscope market, accounting for 44 percent of the global market in 2010, according to the report.

 

Olympus Medical Systems is the leader in the global flexible endoscopes market, with a market share of 67 percent in 2010, followed by Fujifilm and Hoya. Together these companies accounted for 90 percent of the global market share in 2010. Olympus Medical's market leadership can be attributed to its wide range of offerings in flexible endoscopes, which is the largest category in the endoscopy devices market.

 

According to a report released by GlobalData, the new surgical technique natural orifice transluminal endoscopic surgery (NOTES), will extend the capabilities of flexible endoscopes, and thereby the market for them. NOTES is a minimally invasive surgical procedure that allows access to internal organs via a flexible endoscope introduced through a natural opening.

 

The increasing popularity of minimally invasive surgery, due to minimal scarring and faster recovery times provided by the technique, will continue to drive the flexible endoscopes market. Demand for minimally invasive procedures will drive sales of existing technologies, as well as research and development of new technologies and applications for flexible endoscopy.

 

According to GlobalData, the current low level of screening available for colon cancer could spur growth in the flexible endoscopy market. Colon cancer is the second-most common cause of cancer-related death in the world. The flexible endoscopy market is expected to grow as awareness increases and more adults seek routine colonoscopies.

 

Read full article in October's issue of Medical Dealer Magazine.

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