VANCOUVER, B.C., Oct. 23, 2014 (GLOBE NEWSWIRE) -- via PRWEB - According to an in-depth report by iData Research (http://www.idataresearch.com), the European laparoscopic device market was worth approximately USD 2.5 billion in 2014. Technological advances are leading the way, specifically in the markets for advanced bipolar energy devices and stapling closure devices. Collectively, in 2014, these two segments of the European laparoscopic device market accounted for almost USD 1.2 billion.
"We've been keeping a close eye on the THUNDERBEAT by Olympus," tells Dr. Kamran Zamanian, CEO of iData. "It was the first device in the world to combine advanced bipolar energy and ultrasonic energy, allowing it to both cut and seal vessels. Many hospitals see this as a huge draw, as they're under increased pressure to cut costs and still maintain clinical efficacy." Demand for devices like the THUNDERBEAT™ are anticipated to drive market growth.
However, the major market face-off to watch will be Covidien versus Ethicon; these two market giants are struggling to gain and keep the upper hand in the stapling closure device market. The European market for closure devices is essentially split 50/50 between these two companies, but Covidien's line of Endo GIA™ staplers with Tri-Staple™ technology outcompeted Ethicon's line of ENDOPATH® staplers in 2013.
Currently, iData is looking into the corresponding U.S. market for stapling closure devices to see if either company has succeeded in gaining a significant upper hand. Report pre-orders are being accepted as U.S. research nears completion.
Other key market trends identified in the report entitled European Markets for Laparoscopic Devices include:
Full Product Lines Through a Single Vendor
Purchasing a full line of laparoscopic products from a single vendor provides the buyer with a number of advantages over purchasing from multiple vendors. Buyers are able to negotiate better prices when purchasing a number of different devices as opposed to a single device. Establishing customer loyalty is a focus of manufacturers in Europe. Key market leaders are actively advocating that they accommodate end-user demands.
Supplier Procedure Promotion
Many notable companies are influential sources that impact the choice of medical intervention for alternative laparoscopic procedures, including hand-assisted laparoscopic procedures and obesity intervention. Companies often devote resources to offer surgeon training at a low cost with the purchase of an advertised product. When training is readily available, surgeons are more likely to take on new technology with expected improved patient outcomes.
Collectively, in 2013, Ethicon, Covidien and Karl Storz accounted for almost 80% of the European market for laparoscopic devices. The remaining 20% included Richard Wolf, Applied Medical, Olympus, Stryker, B. Braun Aesculap, ERBE, ConMed, Allergan and Microline Surgical Inc., among others.
For Further Information
Both the 2014 report edition of European Markets for Laparoscopic Devices and the upcoming U.S. 2015 edition include an in-depth analysis of the markets for laparoscopes, access devices, insufflation devices, suction-irrigation devices, direct energy devices, ultrasonic devices, laparoscopic morcellators, hand-assisted devices, closure devices and gastric bands. The upcoming U.S. report also will also cover female sterilization. Comprehensive analysis includes procedure numbers, unit sales, market values, forecasts, and competitive market share analysis of major players and their respective success strategies.
About iData Research
iData Research (http://www.idataresearch.com) is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: Diabetes Drugs, Diabetes Devices, Pharmaceuticals, Anesthesiology, Wound Management, Orthopedics, Cardiovascular, Ophthalmic, Endoscopy, Gynecology, Urology and more.
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