Recent technological advancements and launches drive growth

Global Colonoscopy Devices Market

Dublin, Aug. 01, 2022 (GLOBE NEWSWIRE) — The “Colonoscopy Devices – Global Market Trajectory and Analysis” report has been added to from ResearchAndMarkets.com offer.

Global Colonoscopy Devices Market to Reach $1.8 Billion by 2026

Amid the COVID-19 crisis, the global colonoscopy devices market estimated at US$1.6 billion in 2022 is expected to reach a revised size of US$1.8 billion by 2026, with growth at a CAGR of 3.8% over the analysis period. Visualization Systems, one of the segments analyzed in the report, is expected to register a CAGR of 3.9% and reach US$938.6 million by the end of the analysis period. After an in-depth analysis of the business implications of the pandemic and induced economic crisis, colonoscope segment growth is readjusted to a revised CAGR of 4.1% for the next 7-year period.

The US market is estimated at $475.2 million in 2022, while China is expected to reach $162.7 million by 2026
The colonoscopy devices market in the United States is estimated to be worth US$475.2 million in 2022. China, the world’s second largest economy, is expected to reach a projected market size of US$162.7 million by 2026 , with a CAGR of 6.5% over the analysis period. Other noteworthy geographic markets include Japan and Canada, each forecasting growth of 3% and 3.4% respectively over the analysis period. In Europe, Germany is expected to grow around 3% CAGR.

Colorectal cancer represents the largest area of ​​application for colonoscopy devices, due to the increasing prevalence of colorectal cancer worldwide. Unlike invasive surgeries, colonoscopy procedures do not require any incisions, which is likely to significantly increase the demand for colonoscopy devices. Additionally, the number of colonoscopy procedures is expected to increase rapidly, due to the expansion of therapeutic capabilities of colonoscopes. Ambulatory surgery centers are expected to be the largest end-use segment of the colonoscopy devices market, owing to the higher adoption and increase in the number of colonoscopy procedures performed in these centers. The benefits, such as cost savings, individual service, and hygienic environment are expected to drive the demand for colonoscopy procedures in outpatient surgery centers over the next few years.

By End Use, Hospitals Segment to Reach $1 Billion by 2026
The global hospital segment (end-use) market is estimated at US$848.3 million in 2020 and is expected to reach US$1 billion by 2026, reflecting a compound annual growth rate of 4.1% over the analysis period. Europe is the largest regional market for the Hospitals segment, accounting for 32.7% of global sales. China is poised to register the fastest compound annual growth rate of 6.7% to reach US$108.2 million at the end of the analysis period.

Demand increases for colon capsules
An endoscopy device helps visualize internal organs and acquires images that can be used for diagnosis of disease state, as well as administering drug therapies.

The device is ingested by the patient, who then moves along the tract. Equipped with a minute camera, the device captures sharp images of the intestine, with little invasiveness. The capsule endoscopy system facilitates better navigation of the tract and identifies problem areas of the intestine, such as cancerous tumors, bleeding or ulcers. The field of gastroenterology stands to benefit significantly from this technology, as it allows physicians to identify abnormal growths and ulcers in the tract in real time. The rapid diagnosis and also therapy facilitated by this technology should support its growth in the coming years.

Select competitors

• FUJIFILM Holdings America Corporation

• GI View Ltd

• HUGER Medical Instrument Co.,Ltd

• KARL STORZ SE & Co. KG

• MECAN MEDICAL EQUIPMENT CO LTD

• Medtronic SA

• olympus america

• PENTAX Medical

• ProScope Systems

• Sonoscape Medical Corp.

• STERIS Plc

Main topics covered:

I. METHODOLOGY

II. ABSTRACT

1. MARKET OVERVIEW

2. FOCUS ON CERTAIN PLAYERS

3. MARKET TRENDS AND DRIVERS

• Rising Incidence of Colorectal Cancer Drives Market Growth

• Trends in Colorectal Cancer Mortality and Screening in the United States

• Growing preference for minimally invasive surgeries drives demand for colonoscopy systems

• Aging Population Drives Demand for Colonoscopy Devices

• The burden of colorectal cancer is gradually shifting from the elderly to the younger population

• Increase health spending to promote growth

• Recent technological advancements and launches are driving the growth of the market

• Prepless, ingestible imaging capsule for colorectal cancer screening

• Artificial intelligence will be instrumental in the rapid identification of colorectal cancer during colonoscopy

• SMART Medical Systems Introduces the G-EYE 760R Colonoscope in Europe

• Fujifilm Europe launches CAD EYE function for real-time identification of colonic polyps during colonoscopy

• Motus GI Introduces Pure-Vu GEN2 Colon Cleansing System for Colonoscopy Bowel Preparation

• Demand increases for colon capsules

4. GLOBAL MARKET OUTLOOK

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/l6vgwg

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