CASE STUDIES

An MNC eyes potential for flexible GI Endoscopy in the Middle East

Oct 7, 2022

Overview

Our client makes flexible endoscopy equipment that is used to reliably diagnose and treat problems in the gastrointestinal (GI) tract stretching from the mouth to the lower end of the intestines. Our client’s flexible endoscope, with a tiny light and video camera on its tip, is typically passed into the digestive tract via openings (e.g., mouth) to capture images of hard-to-reach organs. Video images from the tube appear on a monitor. This endoscope enables surgeons to perform minimally invasive (“endoscopic”) surgeries, take small samples of tissues from areas of concern for biopsy, and remedy GI problems. Besides endoscopes, the client makes processors, peripherals, and accessories to meet the demands of its worldwide clientele.

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Client’s business situation

The Middle East (ME) region represents a potentially under-tapped market for the client. The client found it challenging to capitalize on opportunities presented by the rising incidence of GI disorders in the region. Flexible endoscopy procedures for the esophagus, stomach, intestines, colon, and rectum accounted for 3 out of every five such procedures in the ME countries. Competitors seem to have taken an early lead in what is still a virgin market for such equipment. A handful of competitors held up to 90% of the market. Robust order-taking and delivery fulfillment mechanisms, including a presence on online retail platforms and a strong distribution network, are working to their advantage.

The client needed in-depth, up-to-date, and accurate information to drive growth in a tough, GI-flexible endoscopy market in the ME region. After considering various market intelligence solutions across multiple parameters, the client chose to work with our healthcare market intelligence experts. Broadly, the client sought the following outcomes for the market for GI flexible endoscopy equipment in 6 countries in the ME region:

  • Assessment of the market, by value and volume, in the ME region, 2020 to 2026
  • Granular study of the market by type of equipment, device, and GI procedure
  • Survey of the competitor landscape, covering the market share of key players

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Our market intelligence solution

The client soon greenlighted the research project, and our healthcare market intelligence specialists stepped up to the task. Leveraging both primary and desk research (secondary research) tools, the team performed an effort-intensive detailing of the GI flexible endoscopy market in each country of interest. This was further broken down by treatment procedures, endoscopic type, and device category. The study covered up to 5 endoscopy equipment types, including accessories increasingly employed in major GI procedures in the focus countries, and six devices. Besides, nearly a dozen endoscopic procedures in target countries were reviewed for their market potential. 

With a view to sizing up the competition in the ME market, six competitors were identified at a country level and reviewed to gain insights into their product lineup, product differentiation, sales channels, technological maturity, and cost of operations. Parameters like competitors’ skill levels, talent procurement activities, and overall corporate performance were also examined. Our study points to three major GI disorders in the target markets as major growth drivers for flexible endoscopy equipment. These conditions were found to result largely from bad eating habits, sleep deprivation, excessive stress, and an inactive lifestyle.

Traveling to ME states to obtain health care while doing a spot of sightseeing on the side (the so-called medical tourism) signals a larger trend in the coming future. Our market research project considers growth in medical tourism as a potential gamechanger for the endoscopy devices market in at least three of the focus countries.

The increasing prevalence of GI diseases has brought new minimally invasive FDA-approved procedures into the reckoning. Many businesses are upping their game in this promising segment. ME countries with more developed healthcare infrastructure desperately need a strong network of intermediaries for endoscopy devices, a largely overlooked potential. The study also reveals that countries in the region with relatively broken healthcare systems were contributing fewer dollars to the toplines of GI flexible endoscopy players.

Major manufacturers are putting more skin in the game, as evidenced by the advent of more sophisticated endoscopes with AI capabilities, enriched features (enhanced imaging quality), and purpose-built equipment for specific GI treatments. It is easy to overlook a few targeted endoscopy accessories since they fetch modest revenues. However, these accessories have been posting volume sales in the targeted countries lately, and the next generation of these products might well boost business revenues during the forecast period.     

The framework underlying our research on the GI endoscopy market in the ME region is informed by nearly two decades of results-driven research. It also draws heavily on secondary and primary research approaches and multiple databases. By invoking both top-down and bottom-up approaches for data aggregation, analysis, and visualization, we ensure our data model is free of errors and false assumptions. 

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Business Outcome for the Client

Our specialists in healthcare market intelligence delivered key insights and succinct answers to help the client negotiate roadblocks to market growth in the GI flexible endoscope market in focus countries in the ME region. The client has since moved from custom insights to customer conversion goals.   

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