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Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global colonoscopy devices market. Market segmentation includes product type (Visualization Systems, Colonoscopes, and Other Product Types).

Find Out More About Regions, Brands, Dominant, Active & Niche Companies Covered in the Report

24 November 8:34 a.m., Silicon Valley, California - According to the new market research report, the global market for colonoscopy devices is projected to grow at a CAGR of 3.9% to reach US$2 billion by 2027, driven by growing incidence of colorectal cancer and the need for timely detection. Colorectal cancer (CRC) is the third most prevalent form of cancers globally, affecting nearly 1.3 million people and leading to over 700,000 deaths per year. CRC represents the second and third most common type of cancer affecting women and men in Europe. Timely detection of CRC holds a critical significance in improving survival rate and duration as well as reducing the cost of disease management. The growing incidence of CRC requires regular screening for people over 50 years and individuals in the high risk group. Colonoscopy refers to an examination procedure performed for detecting diseases and other changes or abnormalities in the rectum and colon. During the examination process, a colonoscopy device is inserted into the patient's rectum to help the doctor observe the anus, gastrointestinal tract, and bowel movements, with the purpose of evaluating the presence of colorectal cancer or other abnormalities, such as gastrointestinal bleeding, ulceration, or polyps.

Colonoscopes represent the largest product type in the global colonoscopy devices market and are expected to maintain their dominance throughout the forecast period. Colonoscopes are used for detecting lesions in the proximal part of colonic folds, either by providing the lumen's retrograde view or through straightening of haustral folds at the time of withdrawal. This helps in significantly improving the quality indicators as well as other vital metrics related to the outcomes of the examination. In addition, colonoscopy offers several other benefits over other alternative treatment options, in terms of accuracy, treatment safety, and precision, which are anticipated to further drive the demand for colonoscopes in surgical centers.
Colorectal cancer represents the largest application area for colonoscopy devices, driven by the rising prevalence of colorectal cancer globally. In contrast to invasive surgeries, colonoscopy procedures do not require any incision, which is likely to significantly augment the demand for colonoscopy devices. Moreover, the number of colonoscopy procedures is expected to increase rapidly, owing to the expansion in the therapeutic capabilities of colonoscopes. Ambulatory surgery centers are expected to be the largest end-use segment for colonoscopy devices market, owing to the higher adoption and increase in the number of colonoscopy procedures being performed at these centers. Benefits, such as cost saving, individual service, and hygienic environment are expected to boost the demand for colonoscopy procedures in ambulatory surgery centers over the next few years.

Artificial Intelligence (AI) is a transformative concept in the field of gastroenterology and is set to play a pivotal role in early identification colorectal cancer (CRC) during colonoscopy. AI for endoscopy relies heavily on computer vision that enables computers to see and interpret the visual content. AI can be trained by exploiting deep learning and machine learning to identify normal characteristics by combining a gold standard to desirable medical images. The use of AI-based systems is expected to help expert colonoscopists in accurately finding polyps.

Research Methodology
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 1273. Among this pool, 193 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 18 unique participations, a total of 12 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.

Key Competitors Covered in the Report -
FUJIFILM Corporation
Fujifilm Medical Systems USA, Inc.
Hoya Corporation
Ambu A/S
Endomed Systems GmbH
Guangzhou Yueshen Medical Equipment Co., Ltd.
Huger Medical Instrument Co. Ltd.
Consis Medical
Genuine Medica Pvt. Ltd.
G.I. View Ltd.

Segments Covered in the Report -
Product Type (Visualization Systems, Colonoscopes, Other Product Types)
End-Use (Hospitals, Diagnostic Centers, Other End-Uses)

Geographies Analyzed in the Report -
World
USA
Canada
Japan
China
Europe
France
Germany
Italy
UK
Spain
Russia
Rest of Europe
Asia-Pacific
Australia
India
South Korea
Rest of Asia-Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East
Iran
Israel
Saudi Arabia
UAE
Rest of Middle East
Africa.

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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.

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