Dublin, Feb. 11, 2022 (GLOBE NEWSWIRE) -- The "Colonoscopes Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Product Type; Application; End User, and Geography" report has been added to ResearchAndMarkets.com's offering.
The colonoscopes market is projected to reach US$ 2,005.32 million by 2028 from US$1,467.66 million in 2021; it is estimated to grow at a CAGR of 4.6% from 2021 to 2028.
Factors such as increase in the prevalence of colorectal cancer and continuous technological advancements in colonoscopy devices boost the market growth. However, the availability of alternative diagnostic tests for rectal diseases hampers the growth of the colonoscopes market.
Colonoscopes are used to remove foreign bodies, excise tumors or colorectal polyps (polypectomy), and control bleeding. These devices consist of a proximal housing, a flexible insertion tube, and an "umbilical cord," connecting the proximal housing to the light source.
Colonoscopes have several open channels for suction, water, and air supply as well as for the insertion of accessory instruments and cannulas. The distal tip of video colonoscopes contains a charge-coupled device (CCD) that acts as a small camera and electronically transmits image from the CCD to an external video processing unit.
Routine colonoscopy is important in diagnosing intestinal cancer, which is the second-leading cause of cancer-led deaths in the US. These endoscopic procedures reduce the need for invasive surgical diagnostic and therapeutic procedures.
The colonoscopes market is segmented on the basis of product type, application, and end user.
- Based on product type, the market is further segmented into fiber optic colonoscopy devices and video colonoscopy devices. The fiber optic colonoscopy devices segment is expected to account for a larger market share in 2021. It is further expected to register a higher CAGR in the market during 2021-2028.
- Based on application, the market is segmented into colorectal cancer, lynch syndrome, ulcerative colitis, Crohn's disease, and polyp. The colorectal cancer segment led the market in 2021 with a market share of 45.32%, and it is expected to retain its dominance during the forecast period.
- Based on end user, the colonoscopes market is segmented into hospitals, ambulatory surgery centers, and others. The hospitals segment would hold the largest market share in 2021. However, the market for the ambulatory surgery center segment is expected to grow at a CAGR of 28.39% during the forecast period.
Key Market Dynamics
Market Drivers
- Increasing Prevalence of Colorectal Cancer
- Technological Advancements in Colonoscopy Devices
Key Restraints
- Availability of Alternative Diagnostic Tests for Rectal Diseases
Opportunities
- Growing Awareness about Colon Cancer
Trends
- Disposable Colonoscopes
- Artificial Intelligence in Colonoscopy
Company Profiles
- Fujifilm Corporation
- Olympus Corporation
- Karl Storz SE & Co. KG
- EndoMed Systems
- PENTAX Medical
- Consis Medical
- GI-View
- Boston Scientific Corporation
- Ambu A/S
- SonoScape Medical Corp
For more information about this report visit https://www.researchandmarkets.com/r/s5ciih
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