The European market for gastrointestinal (GI) endoscopy devices comprises sales of GI videoscopes, enteral feeding devices, endoscopic retrograde cholangiopancreatography (ERCP) devices, GI stents, biopsy devices, hemostasis devices, polypectomy snares, and esophageal dilation balloons sold in France, Germany, Italy, Spain, and the UK. Over the forecast period, market growth will be driven by the aging population in the region, which will result in more people developing conditions that require endoscopic treatments, many of which involve the use of GI devices. In addition, a number of premium-priced products - which often include technological improvements - will be increasingly adopted because these devices positively affect overall patient care as well as quality of life, and in certain cases, they can even reduce overall health care costs. Furthermore, there is a continuing trend toward a greater use of disposable devices over reusable devices, which will fuel market growth because disposable devices are associated with higher per-procedure costs. This shift away from reusable devices will be driven by concerns over the need for proper device sterilization, and the desire to eliminate the risk of disease transfer and potential sample contamination during biopsies. The GI endoscopy device market will, however, be limited by pricing pressures in Europe. Average selling price (ASP) growth will remain restricted due to intense price competition, largely as a result of companies vying for hospital tenders. GI endoscopy device sales will also be hindered to some extent by the presence of alternative procedures and pharmaceuticals available to treat GI diseases. For example chemotherapy and radiation can be used to treat esophageal strictures caused by cancer; this will generate competition for endoscopic procedures performed for that purpose, thereby negatively impacting the markets for esophageal stents and esophageal balloon dilators. Despite the aforementioned factors, the market for GI endoscopy devices will modestly grow over the forecast period.
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