London-based Technavio projects the global colonoscopy device market will grow to $2 billion by 2021 at an approximately 5 percent compound annual growth rate.
Here's what you should know.
1. Guidelines from healthcare organizations and the emergence of minimally invasive surgeries will drive market growth.
2. Large tier-1 vendors and medium tier-2/tier-3 vendors make up the complete market. Product launches dictate the market with vendors competing on pricing, product differentiation, capital support and distribution partnerships.
3. Technavio identified five leading vendors in the device market:
- Marlborough, Mass.-based Boston Scientific
- Tokyo-based Fujifilm Holdings
- Tokyo-based HOYA Corporation
- Tuttlingen, Germany-based Karl Storz
- Tokyo-based Olympus
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