TORONTO, Sept. 28 /PRNewswire/ -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the European gastric band device market was valued at $41 million in 2010, with revenues doubling by the end of 2015. Increased awareness of health issues surrounding obesity, coupled with an expanding patient pool tied to rising European obesity rates, will drive significant growth in the gastric band market through 2015. This growth will result in substantial revenue gains for all competitors in the European gastric band market. While Ethicon Endo-Surgery and Allergan remain in top place in the market, other competitors -- which tend to focus on only one or two of the European countries -- are competing for third place.
Helioscopie and Medical Innovation Developpement, both French companies, have a strong presence in the French and Italian markets, but need to expand into other countries to compete with the larger firms. Helioscopie recently faced concerns over some of its products stemming from the Heliosphere Bag Intragastric Balloon recalled in June 2009. The Heliogast gastric band is, however, still favored by many French and Italian physicians. A.M.I. GmbH, a German-based company, managed to attain the third-largest market share in Germany due to high-quality products and a strong localized sales force. Cousin Biotech and Bariatric Solutions GmbH are other competitors included in the European gastric band market.
"In 2010, Ethicon Endo-Surgery and Allergan obtained the majority of total market revenues. Both firms are successful and well established in all major European markets and possess considerable budgets for active promotion of their products," says Shriram Venkataramana, Analyst at MRG. "Ethicon Endo-Surgery and Allergan maintain a strong focus on innovation and complement their gastric bands through physician education and consumer marketing. These factors will be significant promoters of growth over the next five years."
MRG's European Markets for Laparoscopic Devices 2011 report provides critical insight into trends that will fuel market growth for access devices, internal closure devices, hand instruments, laparoscopes, suction/irrigation devices, gastric band devices, and hand-assist devices, in France, Germany, Italy, and the UK through 2015.
About Millennium Research GroupMillennium Research Group (www.MRG.net), a Decision Resources, Inc. company (www.DecisionResourcesInc.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer behavior tracking, facility-level procedure forecasting, and customized solutions.
About Decision Resources, Inc.Decision Resources, Inc. is a cohesive portfolio of companies that offers best-in-class, high-value information, and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources, Inc. at www.DecisionResourcesInc.com.
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|SOURCE Millennium Research Group|
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