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Olympus, Ethicon, Stryker and Karl Storz Lead the Growing Canadian Endoscopic and Surgical Device Market Valued at Nearly $500



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

The aging population, patient awareness & price increase, among other factors
drive the growing market for endoscopic and surgical devices in Canada reports
iData Research.

VANCOUVER, BC, Sept. 23, 2013 (GLOBE NEWSWIRE) -- via PRWEB - 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 devices. The
advanced bipolar market in particular has grown substantially over the past
few years due to the benefits of using an advanced bipolar device in place of
hand instruments. The increasing popularity of advanced bipolar devices has
overtaken the market for standard bipolar devices.

The unit growth of advanced bipolar devices has driven the market for
electrosurgical generators as companies upgraded their existing generators to
accommodate these new instruments. The ultrasonic market is dominated by
Ethicon's HARMONIC® product, which has shown strong growth in both units and
revenue. The preference of hospitals to purchase reusable products due to
capital budget restrictions imposes pressure on the disposable segment to
lower the ASP. In electrosurgery, competition between leading advanced bipolar
devices and disposable ultrasonic devices, as well as the introduction of
bipolar ultrasonic hybrid devices, such as Olympus's THUNDERBEAT®, will
further restrict prices for disposable ultrasonic devices. Other leading
companies include Stryker and Karl Storz; both are consistently the two major
competitors in the Canadian insufflator device market.

iData's global report series on Markets for Endoscopic and Surgical Devices
includes the latest data, market-analyses and competitor profiles for Canada,
Japan, China, India, U.S., and 15 European countries. The report includes the
following markets:

  * Hemostasis Device Market
  * Enteral Feeding Device Market
  * Urological Device Market
  * Gynecological Device Market
  * Bronchoscopy Device Market
  * ENT Device Market
  * Laparoscopic Device Market
  * Video & High Tech Equipment Market
  * Automated Endoscope Reprocessor Market
  * Electrosurgical Device Market
  * Surgical Endoscopy Tower Market
  * Gastrointestinal Endoscope Market
  * Capsule Endoscopy Market
  * Stenting Device Market

Click here for a free summary of this research.

About iData Research

iData Research is an international market research and consulting group
focused on providing market intelligence for medical device and pharmaceutical
companies. iData covers global research in: Gastrointestinal devices,
laparoscopy, PACS, Video, Hi-Tech and IGS plus more.

This article was originally distributed on PRWeb. For the original version
including any supplementary images or video, visit
http://www.prweb.com/releases/2013/9/prweb11132830.htm

CONTACT: iData Research
         Paula Olsen
         paula@idataresearch.net
         +1 (604) 266-6933
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