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Global GI devices market: 5% CAGR growth forecast between 2012-2016
Global Gastrointestinal Devices Market 2012-2016 - a new market research report on 2014-04-29 04:17:01
The Global GI Devices market is to grow at a CAGR of 4.76 percent over the period 2012- 2016. One of the key factors contributing to this market growth is the increasing prevalence of GI disorders The Global GI Devices market has also been witnessing an increasing demand for minimally invasive procedures. However, the presence of alternative procedures could pose a challenge to the growth of this market.

The demand among patients for minimally invasive surgery is increasing because this type of surgery can remove masses or growths with minimal scarring and also results in improved surgical outcomes, lower surgical risks, and shorter surgical procedure time. Moreover, it minimizes recovery time and thereby reduces the length of hospital stay. For example, gallbladder removal (cholecystectomy), adhesiolysis (removal of abdominal scar tissue), appendectomy, gastric bypass, colon resection, and hernia repair are surgical procedures that can be performed using a minimally invasive approach. This trend is expected to increase the market for GI devices used in such procedures.

One of the major drivers is the increasing number of patients suffering from GI disorders. Changing lifestyles and food habits are the major factors leading to an increase in the number of patients with GI disorders.

One of the major challenges in the market is the preference for alternative procedures. For example, chemotherapy and radiation can be used to treat malignant esophageal strictures caused by primary esophageal cancer. These therapies are known to have better survival rates than surgery.

The key vendors dominating this space include Boston Scientific Corp., Covidien Plc., Ethicon Endo- Surgery Inc., and Olympus Corp. The other vendors mentioned in the report are Coloplast Group, Fujinon Corp., Given Imaging Ltd., Stryker Corp., and Welch Allyn Inc.

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