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News

US gastrointestinal market is set to surpass $1.6bn in 2011

Millennium Research Group : 19 May, 2008  (Company News)
The overall GI market was worth more than $1.2 billion in 2007 according to Millennium Research Group's (MRG) new report on US Markets for Gastrointestinal (GI) Endoscopy.
Driven in part by demand for minimally invasive devices to diagnose colorectal cancer, the market is expected to increase to more than $1.6 billion in 2011.

Minimally invasive diagnostic devices include video colonoscopes, video sigmoidoscopes, and Given Imaging's PillCam COLON -- a pill the patient ingests containing a colour video camera, light-emitting diodes, batteries, transmitter, and an antenna. Images are then taken of the gastrointestinal tract as the capsule travels through the body. In February 2008, the PillCam COLON was given a Not Substantially Equivalent letter from the FDA, meaning it was not approved for commercial distribution in the USA. The device is, however, available in Europe. If the device is released in the USA, it will likely help to reduce colorectal cancer deaths as more patients will be willing to undergo the less invasive diagnostic procedure.

'Many individuals find the idea of colonoscopies unpleasant and embarrassing,' said Tiffanie Demone, analyst at Millennium Research Group. 'This means not everyone who should be getting colonoscopies actually receives them, which often leads to late detection, and in some cases, death. Currently, colorectal cancer is the second-leading cause of death from cancer in the US.'

The US Markets for Gastrointestinal Endoscopy report covers GI videoscopes, endoscopic retrograde cholangiopancreatography devices, biopsy forceps, hemostasis devices, enteral feeding devices, esophageal dilation balloons, capsule endoscopy, esophageal and biliary stents, polypectomy snares, retrieval devices, and anti-reflux devices. Industry competitors include Boston Scientific, Olympus, Cook Medical, Pentax, Given Imaging, CONMED, Kimberly Clark/Ballard, ERBE, Fujinon, and a variety of others. Other reports in the global series cover Europe (France, Germany, Italy, and the UK) and Japan.
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