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    Breaking News

    Thirteen Percent Revenue Shortfall Expected in Capsule Endoscopes Market

    Market was down nearly 60 percent in Q2 as COVID-19 forced the cancellation or postponement of elective procedures.

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    GlobalData11.19.20
    Nearly 13 percent of revenue from capsule endoscopes will be lost in 2020 due to COVID-19, as many elective surgical procedures have been postponed, claims GlobalData, a worldwide data and analytics company. 
     
    Eric Chapman, a medical devices analyst at GlobalData, said: “GlobalData estimates an overall reduction of 12.9 percent of revenue for capsule endoscopes by the end of 2020, compared to previous forecasts before the outbreak of SARS-COV2. In Q1 2020, elective procedures were postponed from around mid-March (two out of 12 weeks), however, this two week period did not severely impact the overall sales of capsule endoscopes. By Q2 2020, as the number new COVID-19 cases had reached a peak and many procedures had been cancelled or postponed, the market was down 57.8 percent.” 
     
    In Q3 2020, GlobalData estimated that the market began to experience a gradual recovery as elective procedures are rescheduled. Initially, GlobalData estimated an overall reduction of 15 percent of revenue for the quarter, compared to predictions before the COVID-19 outbreak, however, a resurgence of new COVID-19 cases might result in further delays in procedures. 
     
    Chapman continued: “In Q4 2020, GlobalData anticipates the start of a ‘surge period’ for the robotic surgical systems market, to make up for sales that were postponed earlier in the year. However, this surge will not be enough to offset revenue losses until the end of 2021 or early 2022.”
     
    Given that Medtronic plc is the market leader for capsule endoscope sales, most revenue lost during the COVID-19 pandemic will be experienced by this company. Other companies such as Olympus Corp and RF Co, will also experience the effects of sales declines. 
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    • Alcon Releases PRECISION1 for Astigmatism Contact Lenses in U.S.

      Alcon Releases PRECISION1 for Astigmatism Contact Lenses in U.S.

      The daily disposable, silicone hydrogel contact lens for astigmatism will roll out concurrently worldwide beginning in February.
      Sam Brusco, Associate Editor 01.21.21

    • Diagnostics
      FDA OKs Canon Medical

      FDA OKs Canon Medical's AI-Powered, 90cm Bore CT

      Company claims the Aquilion Exceed LB CT offers the industry's largest bore opening.
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    • Molding
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      Freudenberg Medical 01.21.21

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    • FDA Grants Emergency Use Authorization for COVID-19 Rapid Antibody Fingerstick Test

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    • PhysIQ Elects Former Naval Vice Admiral to its Advisory Board

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    • Cardiovascular
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    • Cardiovascular
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    • Evonik Closes LACTEL Absorbable Polymers Acquisition

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    • Materials
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      Enables both the rate at which it degrades in the body and its mechanical properties to be controlled independently.
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    • Cardiovascular | Surgical
      Haemonetics to Acquire Cardiva for Up to $510M

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    Trending
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    Breaking News
    • Neurent Medical Closes $25 Million Series B Financing
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    CURRENT ISSUE

    November/December 2020

    • Pharmaceutical Focus: A Look at Combination Products
    • The Printed World: Additive Manufacturing in Medtech
    • The Lost Year: 2020 Year in Review
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