Adoption of Laparoscopy Continues in Europe
European market for endoscopy devices represents a lucrative market, according to a new report by Millennium Research Group.
Waltham, MA (PRWEB) July 5, 2006
Millennium Research Group (MRG), the global authority on medical technology market intelligence, finds that the European market for endoscopy devices, which includes laparoscopy, gastrointestinal (GI) endoscopy, arthroscopy, visualization, ear, nose, and throat (ENT) endoscopy, and bronchoscopy represents a lucrative market for medical device suppliers. According to the new report entitled European Markets for Endoscopy Devices 2006, which includes analysis on France, Germany, Italy, and the United Kingdom, the market generated over $1.6 billion in 2005. While market dynamics in each country vary considerably due to government legislation, reimbursement changes, device introductions, and competitor actions, demand for less invasive procedures continues to rise throughout Europe.
Clinical results have substantially proven the benefits of minimally invasive laparoscopic techniques. Despite the fact that all four countries are facing mounting health care deficits, laparoscopic procedures, which have higher equipment costs, continue to be adopted due to the reduction in patient recovery and hospitalization times they offer. In many market segments, revenues are also being driven by demand for disposable rather than reusable devices. Disposables garner higher per-procedure revenues, eliminate the risk of cross-contamination, and offer more convenience. Overall, the laparoscopic device market will continue to grow through 2010, driven in particular by strong gains in the ultrasonic, bipolar, and hand-assisted device markets.
MRG’s European Markets for Endoscopy Devices 2006 report is part of the Global Markets Endoscopy series, which also includes analysis on the US and Japan. The series covers various key industry competitors, such as Ethicon Endo-Surgery (JNJ), Olympus (OCPNY), Tyco Healthcare, Karl Storz, Smith & Nephew (SNN), Boston Scientific (BSX), Cook Endoscopy, Fujinon, CONMED Corporation, and Stryker Endoscopy (SYK).
Laparoscopic procedures are performed within the abdomen or pelvic cavity and offer several positive clinical benefits to patients and the health care system. During a procedure, a laparoscope is inserted through an abdominal incision for diagnosis, biopsy, or surgery. Laparoscopy procedures include cholecystectomy, bowel resection, hysterectomy, hernia repair, appendectomy, nephrectomy, female sterilization, and fundoplication, among others.
About Millennium Research Group
Millennium Research Group (www. MRG. net), a Decision Resources, Inc. company (www. DecisionResources. com), is 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.
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