Colonoscopy Devices Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI4162
Colonoscopy Devices Market size is projected to experience immense growth from 2019 to 2025.
Rising prevalence of chronic diseases such as colon cancer and rectal cancer may result to significant growth of colonoscopy devices business. According to the American Cancer Society 2017 statistics, 135,430 people were diagnosed with colorectal cancer in the U.S., thereby leading to increased demand for colonoscopy devices. Increasing rate of chronic disease related to colon will significantly escalate the colonoscopy devices business growth.
Worldwide growing awareness pertaining to colon disorders amongst the population will result into rapid growth of colonoscopy devices market. For instance, CDC initiatives such as National Comprehensive Cancer Control Program and Screen for Life: National Colorectal Cancer Action Campaign that focus on promoting colorectal cancer screening will boost market growth. High demand for better diagnostic and treatment solution will positively influence the colonoscopy devices market in the forthcoming years.
Risk associated with colonoscopy procedures act as restraints that may negatively affect colonoscopy devices market in the upcoming years. Lack of awareness coupled with various procedural complications may hamper colonoscopy devices market growth in forthcoming years.
Colonoscope systems market will foresee significant growth during the analysis period. High growth is attributed to various advantages associated with colonoscopes. Wide array of applications such as detection of colon cancer, polyps, ulceration and GI bleeding will boost segmental growth. According to the World Health Organization 2018 statistics, colorectal cancer is the third most common cancer worldwide with 1.80 million cases in 2018. Hence, colonoscope segment will foresee successive growth over projected years.
Ambulatory surgery centers as an end-use will dominate the market over the forthcoming years owing to the rise in number of procedures performed and high adoption rate of colonoscopy devices in ambulatory surgery centers. Advantages such as individual service, hygienic environment and cost saving will increase the demand for colposcopy procedures in ambulatory surgery centers.
U.S. colonoscopy devices market will foresee momentous expansion due to increasing rate of colon-related fatal diseases in the U.S. According to the American Cancer Society estimates, more than 140 thousand new cases of colon and rectal cancer will be diagnosed in the U.S in 2019. Additionally, cases such as gastrointestinal hemorrhage, ulceration and polyps are significantly increasing, that will accelerate colonoscopy devices market growth in forthcoming years.
Europe colonoscopy devices market will foresee momentous growth in upcoming years due to rise in colon and rectal cancer. According to the Global Cancer Observatory statistics, about 0.5 million new colon cancer cases were diagnosed in Europe in 2018. Moreover, colorectal cancer is second most common fatal cancer in Europe that will result in increased demand of diagnostic solution. Thus, higher rate of colorectal cancer in Europe will generate a strong opportunity for colonoscopy devices business growth over the projected years.
Some of the major market players involved in colonoscopy devices market includes Avantis Medical Systems, Boston Scientific, Endomed System, Fujifilm Holdings, Getinge Group, HOYA Group, Karl Storz, Olympus and NA-MED. For instance, in March 2018, Boston Scientific announced successful acquisition of EMcision, Limited. The company’s strategy was to expand its portfolio that may accelerate the growth of Boston Scientific.
Colonoscopy Devices Market by Product Type, 2014-2025 (USD Million)
- Visualization system
- Other instrumentation
Colonoscopy Devices Market by End-use, 2014-2025 (USD Million)
- Ambulatory surgery center
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Fujifilm Holdings
- Karl Storz
- Endomed Systems
- Boston Scientific
- Avantis Medical Systems
- HOYA Group
- Getinge Group
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