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U.S. Gastrointestinal Endoscopic Market to Keep Expanding

U.S. Gastrointestinal Endoscopic Market to Keep Expanding
Most segments of the GI endoscopic market are expecting to continue growing; smaller players have opportunities for expansion in niche areas.

Marie Thibault

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.

One key highlight from the iData Research report is the increasing trend toward sales of third-party refurbished and repaired endoscopes, mainly to international customers. According to an executive summary of the report, refurbished endoscopes are expected to make up 25% of the total GI endoscope market by 2020. Attractive pricing and good warranties for refurbished products are driving this movement.

As for the top growers in the space? Double-balloon endoscopes are the fastest expanding product type in the market; the report anticipates a 10% compound annual growth rate (CAGR), which would result in a doubling in size by 2020. Ligation clips, used for hemostasis, and anti-gastroesophageal reflux disease (anti-GERD) devices are also expected to grow rapidly.

One area that is expected to lag the larger market is the foreign-body retrieval needle product category. Even though more of these devices are being sold as better diagnostic technology has become available, average selling prices are decreasing. The price declines are expected to offset the increase in number of devices sold and result in a market decline for this product segment.

Market leader Olympus' product line-up includes the TJF-Q180V model of duodenoscope. This device is a type of endoscope used in endoscopic retrograde cholangiopancreatography (ERCP) procedures to diagnose and treat diseases of the liver, bile duct, and pancreas. This Olympus duodenoscope model has made headlines over the past couple months, since it has been linked to dozens of cases of carbapenem-resistant enterobacteriaceae infections. The iData Research report does not mention an impact from concerns about duodenoscope-linked infections, but does note that one part of the ERCP segment, the biliary stone removal basket product category, is expected to grow quickly at the expense of other products within the segment.

While Olympus and the other large players in the GI endoscopic market are not likely to be replaced anytime soon, small companies are making an impact on certain niche areas. EndoGastric Solutions, profiled recently by MD+DI, is the main player in the anti-GERD segment with its EsophyX device.

Stay on top of the latest trends in medtech by attending the MD&M East Conference, June 9–11, 2015, in New York City.

Marie Thibault is the associate editor at MD+DI. Reach her at [email protected] and on Twitter @medtechmarie

[Image courtesy of SUPHAKIT73/FREEDIGITALPHOTOS.NET]

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