The global gastrointestinal devices market will reach $18.2 billion in 2015

Thursday 2 May 2013, Amsterdam

A new report predicts that the global market for gastrointestinal devices will reach $18.2bn in 2015. That revenue forecast and others appear in Gastrointestinal Devices: World Market 2013-2023, published in March 2013.

We predict that the gastrointestinal devices will grow steadily to 2023. The future of the gastrointestinal devices market appears promising. There is significant potential for growth and investment, driven by the increasing demand for safer and cost-effective therapies.

The gastrointestinal devices market is diverse in its technologies and its geographic distribution. It is currently comprised of innovative gastrointestinal devices for the treatment of a wide range of disorders that include oesophageal cancer, stomach cancer, colon cancer, Crohn’s disease and many others. Despite the market being dominated by a few large medical device manufacturers, there are several small companies manufacturing niche and innovative products. Each company has employed unique market and positioning strategies in an effort to increase their market share in the global market place. An example of this is the growing research and investment being focused on developing minimally invasive surgical procedures, saving procedure time and reducing hospital stay.

Rodrigo Gutierrez Gamboa, a healthcare industry analyst, said: “The gastrointestinal devices market is an attractive and highly profitable market. However, it is also an intensely competitive market place. Competition within this sector of the medical device industry continues to be largely based on clinical results and product design. In addition, price competition is an important factor as healthcare providers have continuing concerns over costs.

“A positive reimbursement outlook for some gastrointestinal device segments will drive growth, particularly in the endoscopy market. Emerging countries such as China and India will see strong growth in their respective gastrointestinal device markets, owing to an increase in healthcare expenditure and insurance coverage as a result of their rapidly expanding economies. As expected, most of the leading companies reported double-digit sales growth in the emerging markets during the 2011 fiscal period.

“Companies that wish to remain competitive in this market need to heavily invest in their research and development capabilities. Through this they can achieve a competitive advantage over rivals, promoting clear product differentiation. Our research suggests that new products and line extensions of existing products represent a significant component of future growth rate in the gastrointestinal devices market”.

The report gives revenue forecasts to 2023 at overall world market, service submarket and national level. It forecasts world sales for the following segments:

• Gastrointestinal endoscopy
• Ostomy devices
• Bariatric surgery devices
• Enteral feeding pumps.

That investigation includes analyses of seven leading companies, including Ethicon-Endo Surgery (J&J), Olympus, Boston Scientific, Coloplast, Given Imaging, CONMED and Covidien.