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Olympus, Ethicon, Stryker and Karl Storz Lead the Growing Canadian Endoscopic and Surgical Device Market Valued at Nearly $500 Million, Reports iData Research
Date:9/23/2013

Vancouver, BC (PRWEB) September 23, 2013

A recent report series published by iData Research entitled Canadian Market for Endoscopic and Surgical Devices estimates the market value at $476.4 million. The report series analyzes the various markets in depth with full segmentation for gastrointestinal endoscopy, urology, gynecology, bronchoscopy, ENT, laparoscopy, video and high-tech, energy and endoscope reprocessor markets.

Market Drivers

Changing demographics are driving this market and increasing the number of unit sales. Elderly individuals require more diagnostic and interventional procedures in general. In addition, an aging population requires more colonoscopy procedures, as it is recommended that people over the age of 50 receive regular colorectal exams.

Colon cancer is the second leading cause of cancer death in Canada, claiming the lives of 8,900 people in 2012, the report states. The stigma attached to colonoscopy is drastically reduced as more Canadians realize that having this procedure done every 5 to 10 years can greatly reduce their chances of developing cancer unnoticed. As colonoscope sales account for the majority of the overall market for GI endoscopy, continued sales growth will drive the overall market substantially.

High-tech and advanced-feature endoscopes are more expensive than conventional devices. “Manufacturers can take advantage of rising prices to increase their sales revenue,” says Dr. Kamran Zamanian, CEO of iData Research, “High-definition technology will be responsible for the trending price increases in the next three to four years.”

Fastest Growing Segments

According to the report, the fastest growing segment in the Canadian market for endoscopic and surgical devices is the electrosurgical device market. This market includes reusable ultrasonic, advanced bipolar, disposable ultrasonic, electrosurgical generators, and reprocessed electrosurgical d
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