The European Gastrointestinal Endoscope market growth is driven by the continued increase in public awareness about the risks of colorectal cancer
According to a new report by iData Research (www.idataresearch.com), the leading global authority in medical device market research, the European Gastrointestinal (GI) Endoscope Devices Market will grow to over $600 million by 2020. This growth will be fueled by an increase in public awareness about the risks of colorectal cancer and the advantages of early treatment, leading more individuals to undergo screenings and driving the markets for GI endoscopes, instrumentation and accessories.
There were over 26 million procedures performed in the gastrointestinal endoscopic device market in 2013. The majority of these procedures were screenings related to colon cancer, or the removal of abnormalities from the GI tract. “The U.K. will experience one of the highest growth rates for colonoscopy procedures in Europe due to the NHS Bowel Cancer Screening Program,” says Dr. Kamran Zamanian, CEO of iData. “This program encourages individuals, aged 60-69 to undergo a colon screening every two years.”
New generations of endoscopes will continue to progressively improve on visualization and detection technologies. Additionally, innovative systems such as SpectraScience’s proprietary WavSTAT4™ Optical Biopsy System, capable of quickly determining whether tissue is normal or cancerous during an endoscopy, will continue to make endoscopy more effective and cost-conscious. Other leading competitors driving this market are Olympus, Boston Scientific, Pentax, Fujinon, Karl Storz and Cook Medical.
Leading Competitors in European Gastrointestinal Endoscopic Device Market in 2013
Countries with the fastest GI Endoscope market growth rates in Europe are Portugal, Switzerland, Austria and Scandinavia, which are driven primarily by growth in unit volumes. Germany is the largest market but, is expected to see slower growth rates due to their earlier adoption of new technologies.
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