Despite average prices dropping to meet a narrower market and hospital systems partnering to increase purchasing power while reimbursements are cut, the GI/endoscopic device market is expected to grow.
Here's what you should know.
1. Growth is expected because of the prevalence of GI-related conditions and the massive adoption of colorectal cancer screening programs.
2. The flexible endoscope makes up one of the largest portions of the market because its high average selling price and its low lifespan dictate a constant renewal cycle.
3. The majority of devices are sold to hospital systems and ASCs.
4. The anti-reflux market is the fastest growing segment, and that growth is expected to continue because of the disproportionate number of people who suffer from the disease and who get care for it; 22 million and 12.1 million, respectively.
5. Boston Scientific followed by Olympus are the leading competitors.
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