According to our latest study on “Colonoscopes Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type, Application, End User, and Geography,” The report highlights the key factors governing the market growth and prominent players with their developments in the market. The growth of the colonoscopes market is primarily attributed to increase in the prevalence of colorectal cancer and continuous technological advancements in colonoscopy devices. However, the availability of alternative diagnostic tests for rectal diseases hampers the growth of the market.
Strategic Insights:
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Report Coverage |
Details |
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Market Size Value in |
US$ 1,467.66 Million in 2020 |
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Market Size Value by |
US$ 2,005.32 Million by 2028 |
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Growth Rate |
CAGR of 4.6% from 2021-2028 |
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Forecast Period |
2021-2028 |
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Base Year |
2021 |
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No. of Pages |
169 |
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No. Tables |
84 |
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Segments covered |
Product Type, Application, End User, and Geography |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; MEA |
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Country scope |
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Colonoscopes are used for the removal of foreign bodies, excision of tumors or colorectal polyps (polypectomy), and control of hemorrhage. Routine colonoscopy is important in diagnosing intestinal cancer, which is the second-leading cause of cancer-related death cases in the US. These endoscopic procedures reduce the need for invasive surgical diagnostic and therapeutic procedures. Factors such as increase in the prevalence of colorectal cancer, continuous technological advancements in colonoscopy devices to extend their applications in therapeutic areas, and development of robotic colonoscopes boost the growth of the colonoscopes market. However, the availability of alternative diagnostic tests for rectal diseases hampers the growth of the colonoscopes market.
Increasing Prevalence of Colorectal Cancer Bolsters Colonoscopes Market Growth
Colorectal cancer is a malignant tumor that develops in the tissues of colon or rectum. Colon and rectal cancer are often grouped due to common features of both conditions. Colorectal cancer is the third most common cancer type (excluding skin cancer) diagnosed every year in the US. In 2021, 149,500 adults are estimated to be diagnosed with colorectal cancer in the country. These numbers include 104,270 new cases of colon cancer (52,590 men and 51,680 women) and 45,230 new cases of rectal cancer (26,930 men and 18,300 women). The incidence of this cancer type has been rising in young people since the mid-1990s. During 2012–2016, the incidence rose by 2% in adults below 50 and 1% in adults of age 50–64, annually. Among men and women of age 30–39 in the US, colorectal cancer is estimated to be the fourth most diagnosed cancer. It is estimated to cause 52,980 deaths (28,520 men and 24,460 women) in 2021.
Furthermore, it is the second leading cause of cancer death in the country, among men and women combined, while it stands as the third leading cause of cancer death when men and women are considered separately. As per the data provided by European Cancer Information System, in EU-27 countries, colorectal cancer accounted for 12.7% of all new cancer diagnoses and 12.4% of total mortalities caused by the disease in 2020. Such a high prevalence makes it the second most frequently occurring cancer, after breast cancer, and the second leading cause of death, after lung cancer. Further, in India, although the prevalence of colorectal cancer is lower than that in western countries, it stands seventh among the leading causes of mortality. As per the recent data provided by Globacan India 2018, over 27,000 new cases were registered in 2019, with the death of ~20,000 patients; the number of patients living with this condition is estimated to be more than 50,000.
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns.
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Based on product type, the colonoscopes market is further segmented into fiber optic colonoscopy devices and video colonoscopy devices. The fiber optic colonoscopy devices segment would hold a larger market share in 2021 and is expected to register a higher CAGR during the forecast period. The colorectal cancer segment would hold the largest market share of 45.32% in 2021, and it is expected to retain its dominance during the forecast period.
Colonoscopes Market: Competitive Landscape and Key Developments
Fujifilm Corporation, Olympus Corporation, KARL STORZ SE & Co. KG, EndoMed Systems, PENTAX Medical, Consis Medical, GI-View, Boston Scientific Corporation, Ambu A/S, and SonoScape Medical Corp are a few of the leading companies operating in the colonoscopes market.
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Various companies operating in the colonoscopes market are adopting strategies such as product launches, mergers and acquisitions, collaborations, product innovations, and product portfolio expansions to expand their footprint worldwide, maintain brand name, and meet the growing demand from end users.
Colonoscopes Market – by Product Type
- Fiber Optic Colonoscopy Devices
- Video Colonoscopy Devices
Colonoscopes Market – by Application
- Colorectal Cancer
- Lynch Syndrome
- Ulcerative Colitis
- Crohn’s Disease
- Polyp
Colonoscopes Market – by End User
- Hospitals
- Ambulatory Surgery Center
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