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Colonoscopy Market to reach over USD 5.31 billion by the year 2030


Global Colonoscopy Market infograph

Global Colonoscopy Market segment

Global Colonoscopy Market segment

Global colonoscopy market is estimated to reach over USD 5.31 billion by 2030, exhibiting a CAGR of 4.4% during the forecast period.

Major Players in the Colonoscopy Market: Olympus Corporation, Stryker, ESS Medical, Absolute Medical, Medical Recovery Company, PENTAX Medical, Pro Scope Systems, Endo Technologies”

— Insightace Analytic

NEW JERSEY, NJ, USA, November 29, 2022 /EINPresswire.com/ — Insight Analytics Pvt. Ltd. announces the release of a market assessment report on the “Global Colonoscopy Market By Product (Colonoscope (Flexible Non-Video (Fibre) Colonoscopes and Flexible Video Colonoscopes), Visualization Systems, and Others), Applications (Colorectal Cancer Lynch Syndrome, Ulcerative Colitis, Crohn’s Disease, Polyps or Colorectal Cancer, And Others) and End-Use (Clinics, Hospitals, Ambulatory Surgery Centers and Others)- Market Outlook And Industry Analysis 2030”

The global colonoscopy market is estimated to reach over USD 5.31 billion by 2030, exhibiting a CAGR of 4.4% during the forecast period.

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Colonoscopy is an activity that combines looking for disease in the large intestine, the most common of which is colorectal cancer. The gastroenterologist highly recommends colorectal cancer screening for anybody over 50. Computed tomography (C.T.) scans, rectal examination, flexible sigmoidoscopy, fecal immunochemical test (FIT), and guaiac-based fecal occult blood test are some techniques used to screen for colorectal cancer. The rising frequency of colorectal cancer and the growing need for minimally invasive procedures are among the key reasons driving the market growth. The use of diagnostic screening procedures for intestinal and chronic diseases such as rectal cancer, lung problems, chronic diarrhoea, colon cancer, digestive bleeding, and G.I. bleeding-related disorders has increased over the years. The increased prevalence of intestinal disorders is projected to boost market growth. Alternative therapies for rectal disease and the risks associated with colonoscopy procedures may limit demand for colonoscopy gadgets. Furthermore, rising income levels, increased knowledge, and the prevalence of colon-related illnesses, particularly in rural areas, boost the total market growth.

Prominent Players in the Colonoscopy Market:
Olympus Corporation
Stryker
ESS Medical
Absolute Medical
Medical Recovery Company, Inc
PENTAX Medical
Pro Scope Systems
Endo Technologies
MedWrench
Hoya Corp
KARL STORZ SE & Co KG
SonoScape Medical Corp
Boston Scientific Corp,
SMART Medical Systems Ltd

Market Dynamics:
Drivers-
The use of diagnostic screening procedures for intestinal and chronic diseases such as hematological malignancies, lung problems, chronic diarrhea, colon cancer, gastrointestinal bleeding, and G.I. bleeding-related disorders has increased over the years. The increased prevalence of intestinal disorders is projected to boost market growth. Annual colonoscopy treatments are projected to increase as the therapeutic capabilities of colonoscopy devices improve. In addition, as people become more aware of the repercussions of colon-related disorders, the global market for colonoscopy devices is expected to grow in the coming years.

Challenges:
The risk connected with colonoscopy equipment, the device’s high cost, and the lack of public awareness limit the growth of the global colonoscopy device. Handling colonoscope devices need a professional with a solid understanding and skills, which is a major factor impeding the development of the global colonoscopy device market. The market’s expansion is hampered by a lack of physicians educated in colonoscopy procedures and poor reimbursement practices. Alternative therapies for rectal disease and the risks associated with colonoscopy procedures may limit demand for colonoscopy gadgets. Furthermore, the market expansion is anticipated to be impeded by the procedure’s inherent risk and restrictive reimbursement laws.

Regional Trends:
The Asia Pacific colonoscopy market is expected to register a significant market share in revenue and is projected to grow at a high CAGR shortly due to substantial demand for colonoscopy devices in China and India, the world’s fastest-growing regions. In these countries, improvements in hospital infrastructure and healthcare facilities have resulted in a significant increase in colonoscopy treatments. Besides, the North American region had a substantial share in the colonoscopy market. Because of government policies and increased consumer awareness of colonoscopy Devices and their benefits, the area has the largest market share. Furthermore, the regional market is developing due to rising income levels and healthcare expenditure, increased knowledge of colon-related disorders, and a higher frequency of colon-related diseases due to unsanitary and dirty settings, particularly in rural areas. All of these reasons contribute to expanding the global colonoscopy device market.

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Recent Developments:
• In April 2020, Medtronic deployed an AI-powered colonoscopy device in the United States. The FDA approved this device as the first medical device to use artificial intelligence to assist doctors in the real-time identification of colon problems.
• In October 2020, Olympus released the PCF-HQ190 and PCF-H190T. These items are designed to aid in identifying various disorders and enhancing treatment capacities, which is helpful for gastrointestinal tract diagnosis.

Segmentation of Colonoscopy Market-
By Product Type
• Colonoscope
o Flexible Non-Video (Fibre) Colonoscopes
o Flexible Video Colonoscopes
• Visualization Systems
• Others
By Application
• Colorectal Cancer Lynch Syndrome
• Ulcerative Colitis
• Crohn’s Disease
• Polyps or Colorectal Cancer
• Others
By End Use
• Hospitals
• Clinics
• Ambulatory Surgery Centers
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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Priyanka Tilekar
Insightace Analytic Pvt. Ltd.
+1 551-226-6109
email us here



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