Portland, OR, March 15, 2023 (GLOBE NEWSWIRE) -- The global Colonoscope Market was estimated at $1.2 billion in 2021 and is expected to hit $2.5 billion by 2031, registering a CAGR of 7.6% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $1.2 Billion |
| Market Size in 2031 | $2.5 Billion |
| CAGR | 7.6 % |
| No. of Pages in Report | 220 |
| Segments Covered | Application, End-user, and Region. |
| Drivers | Massive pool of chronic diseases related to colon cancer and ulcerative colitis |
| Increase in awareness of the benefits of colonoscopes for the detection of diseases | |
| Restraints | Certain risks associated with colonoscopy procedures in healthcare organizations |
| Cost associated with the same | |
| Opportunities | Rise in the number of strategies adopted by the market players like product launches, product approval, agreements, partnerships, and collaborations across the globe |
Covid-19 scenario-
- Decreased use of colonoscopes in the procedures like colonoscopy during the pandemic impacted the global colonoscope market negatively,
- However, as the incidence of colon cancer is on the rise, it has increased the adoption of colonoscopy procedures for the screening of the disease, thus helping the market recoup soon.
The global colonoscope market is analyzed across application, end user, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
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By application, the others segment held around one-third of the global colonoscope market revenue in 2021, and is projected to maintain the lion's share throughout the forecast period. The ulcerative colitis segment, however, would cite the fastest CAGR of 8.4% from 2022 to 2031.
By end-user, the hospitals segment garnered the highest share in 2021, accounting for nearly half of the global colonoscope market revenue. The ambulatory surgery centers segment, on the other hand, would display the fastest CAGR of 8.0% from 2022 to 2031.
By region, North America held the major share in 2021, garnering around two-fifths of the global colonoscope market revenue. Asia-Pacific, simultaneously, would showcase the fastest CAGR of 8.9% from 2022 to 2031. The other provinces studied through the report include Europe and LAMEA.
The key market players analyzed in the global colonoscope market report include DexCom, Inc., Johnson & Johnson, Medtronic plc, GlySens Incorporated, F. Hoffman-La Roche Ltd, Abbott Laboratories, Ypsomed AG, Novo Nordisk A/S, Senseonics, and A. Menarini Diagnostics S.r.l. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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