Industry Background:
Colonoscopy is an endoscopy examination of a patient's entire colon and rectum through a colonoscope which passes through the anus. Colorectal cancer (CRC) – the third most common type of cancer – is detected using colonoscopy. In the United States, about 58% of adults in the age group of 50 to 75 have been screened for colorectal cancer. Various organizations aim to raise the percentage of people screened for colorectal cancer to 80% which makes it a potential market for the device.
According to AMA Research, the market for Colonoscopes is expected to register a CAGR of 4.5% during the forecast period to 2027. This growth is primarily driven by Has Gained Preference Since It Reduces the Need for Invasive Surgical Diagnostic
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Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Volume Unit | K Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Medical Devices sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Boston Scientific Corporation (United States), FUJIFILM Holdings Corporation (Japan), Hoya Corporation (Japan), Karl Storz (Germany), Olympus Corporation (Japan), EndoMed Systems GmbH (Germany), Avantis Medical Systems, Inc. (United States), In Motion Medical (United States), HUGER Endoscopy Instruments Co., Ltd (China) and EndoChoice (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In 2021, Cosmo Pharmaceuticals NV announced the FDA approval of the GI Genius Intelligent Endoscopy System, an innovative device for detecting lesions during colonoscopy. GI Genius uses AI-powered machine learning to help identify lesions such as polyps or suspected tumors during colonoscopy in real time. and In 2020, Olympus Corporation has announced that it has entered into an agreement to acquire Arc Medical Design Limited. The acquisition will expand the development of advanced colonoscopy tools to improve early detection and treatment of gastrointestinal treatment devices and colorectal cancer (CRC).
In 2022, SMART Medical Systems has announced additional FDA approvals for G-EYE colonoscopy based on Olympus' 510(k) approved PCF colonoscopy series. With this additional FDA approval, G-EYE is now available in the U.S. market for models of colonoscopy commonly used by all three major endoscopy brands: OLYMPUS, FUJIFILM and PENTAX Medical., In 2020, Olympus has announced the 510(k) approval and market launch of two colonoscopes, PCF-H190T and PCF-HQ190. and In September 2019, Fujifilm received FDA clearance for six new endoscopic imaging solutions. These new endoscopes strengthen the company’s offering in core GI and interventional endoscopy. The following Fujifilm products have received FDA clearance: ED-580XT Duodenoscope, EI-580BT Short Double Balloon Endoscope, EC-760P, EC-760S Colonoscopes, EG-760CT, and EG-740N Gastroscopes.
Colonoscopes Market Dynamics:
Attributes | Details |
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Growth Drivers | - Has Gained Preference Since It Reduces the Need for Invasive Surgical Diagnostic
- Increasing Affordability and Healthcare Access in Developing Countries
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Influencing Trends | - Private and Government efforts against colorectal cancer are raising the demand internationally
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Restraints | - Life Threating Risks Associated With Colonoscopy
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Road Blocks / Challenges | - Highly Mature Market Makes It Difficult To Penetrate
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Gaps & Opportunities | - Rise In Awareness about Colonoscopy
- Healthcare Facilities in Developing Countries
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AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Colonoscopes Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Colonoscopes Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Colonoscopes players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Colonoscopes Study Sheds Light on
The Colonoscopes Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Colonoscopes industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Colonoscopes industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.