New Surgery Techniques Make Small Scars and Big Market Changes
NEW YORK (GBI Research), - The growing popularity of Minimally Invasive Surgeries (MIS) is leading to an increased adoption of endoscopy devices, according to a new report by healthcare experts GBI Research.
The new report attributes the growing number of MIS procedures to a lower incidence of post-operative complications, minimal scarring, and shorter hospital stays, which collectively act to improve surgery experiences both for hospitals and for the patient.
Recent retrospective data analysis carried out by Covidien claimed that compared to open surgeries, laparoscopic surgeries were associated with reduced risks of surgical site infection and a reduced need of blood transfusions. This supports the popular belief that laparoscopic surgeries result in safer outcomes, and are more economical than open surgeries across a number of different surgical procedures. On average, an open surgery is $3,556 more expensive per case than a laparoscopic procedure, and adds 2.25 days to the patient’s duration of hospitalization. MIS procedures are being increasingly adopted as a result.
Endoscopy devices are also used for diagnostic purposes in preference over traditional diagnostic procedures for the identification of gastrointestinal tract (GI) disorders. Capsule endoscope systems are now considered superior to conventional diagnostic procedures such as Small Bowel Follow-Through (SBFT), computed tomography enterography (CET) and ileoscopy. A number of clinical studies have shown that capsule endoscopy is associated with a better diagnostic yield, and reduces associated medical costs by allowing early detection, and in turn improving treatment outcomes.
According to EndoEvolution, a medical device company, nearly 1.5 million MIS procedures are performed in the U.S annually. With the number of MIS procedures performed each year expected to increase, it is expected that the global endoscopy devices market will grow at a Compound Annual Growth Rate (CAGR) of 4% during 2011-2018, increasing from $4.59 billion in 2011 to $5.99 billion in 2018.