Solos Endoscopy Poised for Tremendous Growth in Multi-Billion Dollar Endoscopic Market
BOSTON, Nov. 17, 2011 /PRNewswire/ -- Solos Endoscopy, Inc. (OTCPK: SNDY) is pleased to announce that the Company is positioned for tremendous growth in the multi-billion dollar endoscopic market. Solos Endoscopy currently has its endoscopic instruments in over 60 Hospitals, Clinics, Healthcare Centers, Medical Centers and Surgery Centers across the United States with plans to market its endoscopic instrument internationally upon receiving the CE Mark.
Meltwater News Inc., a global specialist in online media monitoring, has delivered a report highlighting significant growth in the endoscopy market over the next five years. According to MarketResearch.com in its July 2011 report, the overall medical device market is very large; endoscopy is a significant component of that market. The endoscopy market is positioned for significant growth in the next 5 years. The endoscopy market worldwide was $23.3 billion in 2010 and is projected to reach nearly $24.8 billion in 2011. This is further anticipated to increase to $33.7 billion by 2016 at a compound annual growth rate (CAGR) of 6.4%.
Laparoscopy accounts for more than 26% of the total market and is expected to reach $6.8 billion by end of 2011 and to increase up to $10.6 billion by 2016 at a compound annual growth rate (CAGR) of 9.2%.
Endoscopy of the GI track for tumors, adhesions, diverticulitis, etc. is projected to experience an increase from $3.7 billion in 2011 to more than $4.9 billion in 2016, a CAGR of 5.7%.
This is due, in part, to new applications for the technology, as well as new innovations in the technology itself. The other major factor that will contribute to this growth is the recognition of this technology in emerging markets like Japan and Vietnam. Continued worldwide growth is expected in other geographic areas due to a growing middle class in countries such as India, China, Brazil, and Russia.
For more information on Meltwater News Inc., please visit; www.meltwater.com
About Solos Endoscopy, Inc.:
Solos Endoscopy, Inc. is a HealthCare instrument company whose mission is to develop and market high quality and innovative instruments for the screening, diagnosis, treatment and management of medical conditions. Additional information on its FDA approved products is available on the Company's website at: www.solosendoscopy.com.
Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
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SOURCE Solos Endoscopy, Inc.