Dublin, May 24, 2023 (GLOBE NEWSWIRE) -- The "Colonoscopes Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This provides strategists, marketers and senior management with the critical information they need to assess the market.
The global colonoscopes market is expected to grow from $1.70 billion in 2022 to $1.80 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The colonoscopes market is expected to grow to $2.20 billion in 2027 at a CAGR of 5.2%.
Major players in the colonoscopes market are Fujifilm Holdings Corporation, Karl Storz SE & Co. KG, Olympus Corporation, Endomed Systems GmbH, Boston Scientific Corporation, Avantis Group, Hoya Corporation, SonoScape Medical Corp., PENTAX Medical, Getinge AB, Consis Medical, Endo Technologies, Ambu A/S, Huger Medical Instrument Co. Ltd., InMotion Medical Inc., Steris Corporation, ESS Inc., Absolute Medical Inc., Medical Recovery Company Inc., Pro Scope Systems, and MedWrench LLC.
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A colonoscope refers to a tiny, tube-shaped device with a light and a viewing lens. It is used to find bowel cancer and colon polyps, and it helps diagnose symptoms like blood in the stool, unexplained diarrhea, and abdominal pain.
The main types of colonoscopes are fiber optic colonoscopy devices and video colonoscopy devices. A fiber optic colonoscopy device is a minimally invasive medical examination that is used as a screening test for colon cancer and to assess the lower portion of the large intestine, or colon. The various technologies include instruments, accessories, and colonoscopy devices service. These are used in various applications such as colorectal cancer, lynch syndrome, ulcerative colitis, crohn's disease, and polyp and by various end-users such as hospitals, clinics, ambulatory surgery centers, and others.
Product innovation is a key trend gaining popularity in the colonoscopes market. Major companies operating in colonoscopes are focused on developing innovative solutions to strengthen their position in the market.
In April 2022, Laborie Medical Technologies Inc., a Canada-based medical equipment company acquired GI Supply Inc. for an undisclosed amount. Through this acquisition, Laborie Medical Technologies Corp. hopes to provide cutting-edge technologies that support the preservation and restoration of human dignity as well as the improvement of lives by providing clinical customers' patients with the appropriate solutions for their needs. GI Supply Inc. is a US-based medical equipment manufacturing company and provider of specialty endoscopy and paracentesis products for gastroenterologists, and colorectal surgeons.
North America was the largest region in the colonoscopes market in 2022. The regions covered in the colonoscopes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the colonoscopes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The increase in the prevalence of colorectal cancer is expected to propel the growth of the colonoscopes market going forward. Colorectal cancer, also known as colon cancer, refers to a disease in which cells in the colon or rectum grow out of control. The colonoscope is most commonly used to screen for colorectal cancer and is used to detect tumors, ulcers, polyps in the colon, and other areas of bleeding or inflammation with a flexible, illuminated tube with a viewing lens and a tissue-removing tool. As a result, increase in the prevalence of colorectal cancer increases the demand for colonoscopes.
For instance, in May 2022, according to a report shared by the American Society of Clinical Oncology (ASCO), a US-based professional organization, colorectal cancer is identified in 1,880,725 people in 2020. Further, in 2022, 151,030 individuals received a colorectal cancer diagnosis with 52,580 deaths and the number is expected to rise in the coming years. Therefore, the increase in the prevalence of colorectal cancer is driving the growth of the colonoscopes market.
The colonoscopes market consists of sales of screening colonoscopes, diagnostic colonoscopes, and virtual colonoscopes. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $1.8 billion |
| Forecasted Market Value (USD) by 2027 | $2.2 billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Colonoscopes Market Characteristics
3. Colonoscopes Market Trends And Strategies
4. Colonoscopes Market - Macro Economic Scenario
4.1. COVID-19 Impact On Colonoscopes Market
4.2. Ukraine-Russia War Impact On Colonoscopes Market
4.3. Impact Of High Inflation On Colonoscopes Market
5. Colonoscopes Market Size And Growth
5.1. Global Colonoscopes Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Colonoscopes Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Colonoscopes Market Segmentation
6.1. Global Colonoscopes Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Fiber Optic Colonoscopy Devices
- Video Colonoscopy Devices
6.2. Global Colonoscopes Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Instruments
- Accessories
- Colonoscopy Devices Service
6.3. Global Colonoscopes Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Colorectal Cancer
- Lynch Syndrome
- Ulcerative Colitis
- Crohn's Disease
- Polyp
6.4. Global Colonoscopes Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Hospitals
- Clinics
- Ambulatory Surgery Centers
- Other End Users
7. Colonoscopes Market Regional And Country Analysis
7.1. Global Colonoscopes Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Colonoscopes Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/tlqtd6
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