Global Colonoscopy Devices Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028
“Global Colonoscopy Devices Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global colonoscopy devices market report has been segmented on the basis of component, end-user, and region.
Global Colonoscopy Devices Market: Overview
There is a substantial increase in the number of patients suffering from rectal cancer and colon cancer. Colonoscopy is an examination done in order to detect abnormalities or any changes in larger intestine and rectum. During the examination process, a long flexible tube is inserted into the rectum and with the help of camera, the doctor examines inside the intestine.
Global Colonoscopy Devices Market: Dynamics
Major factor expected to drive growth of the global colonoscopy devices market is the rising number of patient pool suffering from an intestinal disorder. In addition, increasing demand for advanced colonoscopy devices from healthcare practitioners in order to examine/track abnormalities in the large intestine and provide effective medication that helps to eradicate the problems is another factor expected to support market growth.
Moreover, increasing incidences of mortality due to rectal cancer, colon cancer, and GI bleeding-related disorders is resulting in increasing awareness among individuals pertaining to intestine diseases which is further rising intestine diagnostic procedures. This is among other factor expected to support market growth.
However, lack of skilled professional is a major factor expected to hamper growth of the global colonoscopy devices market. In addition, stringent government regulations related to product approval is another factor expected to challenge growth of the global colonoscopy devices market.
Increasing investment for technological advancements and R&D activities and innovative product offerings is expected to create new opportunities in terms of revenue for players operating in the target market over the forecast period. In 2018, Motus GI Holdings Inc. developed and commercialized its colonoscopy device – Pure-Vu – that is compatible with a smaller diameter and more flexible slim colonoscopies and is an additional enhancement to Motus’ low friction lubricious coating technology that aid in navigation through the colon.
Global Colonoscopy Devices Market: Segment
Among the component segments, the colonoscope segment is expected to dominate in the target market over the forecast period.
Among the end-user segments, the hospital segment is expected to dominate in the target market over the forecast period.
Global Colonoscopy Devices Market: Region
The market in North America is expected to dominate in the global colonoscopy devices market and is expected to continue its dominance over the forecast period. This can be attributed to well-developed healthcare infrastructure for R&D activities and the presence of major players in the countries in this region. In addition, an increasing number of patient suffering from intestinal disorder and favorable reimbursement policies is expected to support market growth in this region.
The market in Asia Pacific is expected to witness faster growth, owing to increasing government spending on healthcare infrastructure in order to facilitate advanced medical devices and presence of prominent players operating in emerging economies in this region. In addition, growing merger and acquisition activities between regional and international players are expected to further support market growth in this region to a certain extent.
Global Colonoscopy Devices Market Segmentation
Segmentation by component
- Visualization Systems
Segmentation by end-user
- Hospitals and Ambulatory Surgery Centers
- Diagnostic Centers
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Estimated Year 2020 Actual Year 2021 Forecast Period 2021–2030 Revenue in US$
- FUJIFILM Holdings Corporation
- KARL STORZ Endoscopy-America, Inc.
- Olympus Corporation
- Neo Endomed Systems Private Limited
- Pro Scope Systems
- Boston Scientific Corporation
- Avantis Medical Systems, Inc.
- HOYA Corporation
- Getinge Group
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