Gastrointestinal Endoscopic Devices Market: Increase in GI Diseases has Triggered the Growth of this market
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Gastrointestinal endoscopic devices include thin flexible tube, light attached to thin flexible tube and a visualizer. Other components of this device are viewing sheath, power source, rheostat, lasers, insufflators, battery box, bulbs, fiberoptic lighting, hand instruments, electrosurgical and radiofrequency instruments. The process of detecting GI tract abnormalities through GI endoscopic devices is termed as gastrointestinal endoscopy. This process starts with anesthetizing the patient and then putting thin wire in the GI tract through mouth. The internal structure image is displayed on the visualizer. This image helps the physician to detect and treat the GI infections.
Gastrointestinal endoscopic devices are further segmented as endoscopic retrograde cholangiopancreatography devices (ERCP), hemostatis devices, capsule endoscopy, biopsy devices and GI videoscopes. GI videoscopes include video gastroscopes, video duodenoscopes, video colonoscopies, video ultrasound endoscopes, video enteroscope and video sigmoidoscope. Other GI endoscopic devices include stents, enteral feeding devices, esophageal dilation balloons, polypectomy snares, and anti-reflux devices.
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Changing lifestyle has changed the diet pattern. The new diet has reduced the intake of various healthy foods which increases the incidence of digestive tract problems. In addition, increase in GI diseases has also triggered the growth of this market. Recently in year 2011, 1 million of the total worldwide population has been detected with colon and rectum cancer. Weight management treatment has also contributed in its growth since this therapy includes gastric banding and bypass surgery. Global increase in disposable income has also boosted the growth of this market. Despite all the advantages, the growth of this market would be hampered due to lack of sufficient reimbursement policies and reduced government funding in various nations such as Europe and U.S. respectively. In addition, high costs and delayed approval process would also hinder the growth of this market.
Some of the major market players in this industry are Covidien Ltd., Boston Scientific Corporation, Conmed Corporation, Johnson & Johnson Ltd., Fujinon Ltd., Stryker Corporation and other significant players.
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