Global Colonoscopy Devices Market to Reach US$ 2.5 Billion by 2032, Stimulated by Rising Awareness About Early Diagnosis and Treatment

July 03, 2023 | Medical Devices

According to the latest report by IMARC Group, titled “Colonoscopy Devices Market Report by Product Type (Colonoscope, Visualization Systems, and Others), Application (Colorectal Cancer, Lynch Syndrome, Ulcerative Colitis, Crohn’s Disease, and Others), End User (Hospitals, Ambulatory Surgery Center, and Others), and Region 2024-2032,” the global colonoscopy devices market size reached US$ 1.6 Billion in 2023. A colonoscopy device is a specialized medical instrument used to visualize and examine the colon and rectum. It consists of a flexible tube attached to a light and a camera at the end, which allows healthcare professionals to obtain real-time images and perform diagnostic and therapeutic procedures within the colon. It enables the identification and removal of polyps or abnormal tissues and helps detect and prevent colorectal cancer. It also assists doctors in identifying the possible causes of abdominal pain, rectal bleeding, and chronic diarrhea. Besides this, as it contributes to improved patient outcomes, reduced mortality rates, and better management of gastrointestinal conditions, the demand for colonoscopy device is increasing worldwide.

Global Colonoscopy Devices Market Trends:

The increasing prevalence of colorectal cancer and gastrointestinal disorders, especially among the geriatric population, represents one of the key factors catalyzing the demand for colonoscopy devices across the globe. Additionally, technological advancements in colonoscopy devices and the introduction of high-definition and narrow-band imaging and virtual colonoscopy are enhancing the visualization and diagnostic capabilities of colonoscopy procedures. These advancements enable healthcare professionals to detect lesions, polyps, and abnormalities with greater accuracy, enabling timely interventions and reducing the need for invasive surgical procedures. Furthermore, there is a growing focus on patient comfort and safety, leading to the development of minimally invasive (MI) colonoscopy devices. Manufacturers are focusing on incorporating features, such as smaller diameter scopes, improved flexibility, and ergonomic designs, to enhance the patient experience during colonoscopy procedures, which is contributing to market growth. Additionally, the integration of robotic-assisted technologies in colonoscopy devices is offering increased precision and maneuverability, which is propelling market growth. Looking forward, the market value is projected to reach US$ 2.5 Billion by 2032, expanding at a CAGR of 4.64% during 2024-2032.

Market Summary:

  • Based on the product type, the market has been segmented into colonoscope, visualization system, and others. At present, colonoscope represents the largest market segment.
  • On the basis of the application, the market has been segregated into colorectal cancer, lynch syndrome, ulcerative colitis, Crohn’s disease, and others. Colorectal cancer currently accounts for the largest market share.
  • Based on the end user, the market has been classified into hospitals, ambulatory surgery center, and others. At present, hospitals hold the largest market segment.
  • Region-wise, the market has been divided into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, North America enjoys the leading position in the market.
  • The competitive landscape of the market has also been examined, with some of the key players being Endomed Systems GmbH, FUJIFILM Holdings Corporation, GI-View Ltd., HOYA Corporation, KARL STORZ SE & Co. KG, Medtronic plc, Olympus Corporation, and STERIS Corporation.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Product Types Covered Colonoscope, Visualization Systems, Others
Applications Covered Colorectal Cancer, Lynch Syndrome, Ulcerative Colitis, Crohn’s Disease, Others
End Users Covered Hospitals, Ambulatory Surgery Center, Others
Regions Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Endomed Systems GmbH, FUJIFILM Holdings Corporation, GI-View Ltd., HOYA Corporation, KARL STORZ SE & Co. KG, Medtronic plc, Olympus Corporation, STERIS Corporation, etc.
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Global Colonoscopy Devices Market to Reach US$ 2.5 Billion by 2032, Stimulated by Rising Awareness About Early Diagnosis and Treatment
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