Minimally invasive devices to treat colorectal cancer will drive the market, according to Millennium Research Group WALTHAM, Mass., May 14
WALTHAM, Mass., May 14 /PRNewswire/ -- According to Millennium Research
Group's (MRG) US Markets for Gastrointestinal (GI) Endoscopy report, the
overall GI market was worth over $1.2 billion in 2007. Driven in part by
demand for minimally invasive devices to diagnose colorectal cancer, this
market is expected to increase to over $1.6 billion in 2011.
Minimally invasive diagnostic devices include video colonoscopes, video
sigmoidoscopes, and Given Imaging's PillCam COLON -- a pill the patient
ingests containing a color video camera, light-emitting diodes, batteries,
transmitter, and an antenna. Images are then taken of the gastrointestinal
tract as the capsule travels through the body. In February, the PillCam COLON
was given a Not Substantially Equivalent letter from the FDA, meaning it was
not approved for commercial distribution in the US. The device is, however,
available in Europe. If the device is released in the US, it will likely help
to reduce colorectal cancer deaths as more patients will be willing to undergo
the less invasive diagnostic procedure.
"Many individuals find the idea of colonoscopies unpleasant and
embarrassing," says Tiffanie Demone, Analyst at Millennium Research Group.
"This means not everyone who should be getting colonoscopies actually receives
them, which often leads to late detection, and in some cases, death.
Currently, colorectal cancer is the second-leading cause of death from cancer
in the US."
Millennium Research Group will be attending the Digestive Disease Week
meeting in San Diego from May 18 to 21. Come to booth #4726 for a preview of
our Global Markets for Gastrointestinal Endoscopy report series.
The US Markets for Gastrointestinal Endoscopy report covers GI
videoscopes, endoscopic retrograde cholangiopancreatography devices, biopsy
forceps, hemostasis devices, enteral feeding devices, esophageal dilation
balloons, capsule endoscopy, esophageal and biliary stents, polypectomy
snares, retrieval devices, and anti-reflux devices. Industry competitors
include Boston Scientific, Olympus, Cook Medical, Pentax, Given Imaging,
CONMED, Kimberly Clark/Ballard, ERBE, Fujinon, and a variety of others. Other
reports in the global series cover Europe (France, Germany, Italy, and the UK)
and Japan.
About Colonoscopy
Colonoscopy is an examination to treat the lower gastrointestinal tract.
It is recommended that both men and women over the age of 50 should get a
colonoscopy every ten years to screen for colorectal cancer. In most cases,
colorectal cancer usually grows slowly over many years, making it curable when
detected at an early stage.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources, Inc.
company (www.DecisionResources.com), is the global authority on medical
technology market intelligence and a leading provider of strategic information
to the health care sector. Focused solely on the medical device,
pharmaceutical, and biotechnology industries, the company provides its clients
with the benefits of its specialized industry expertise through published
reports and customized consulting services.
All company, brand, or product names contained in this document may be
trademarks or registered trademarks of their respective holders.
For more information, contact:
Amy Krohn
Millennium Research Group
416-364-7776 x101
akrohn@mrg.net
SOURCE Millennium Research Group
