Global Colonoscopy Devices Market Report by Products (Colonoscope, Visualization system, and Others), Application (Colorectal Cancer, Ulcerative Colitis, Crohns Disease, and Others), End-User (Hospitals, Clinics & Ambulatory surgical centers, and Others), Region and Company Analysis 2024-2032

Global Colonoscopy Devices Market Analysis

Global Colonoscopy Devices Market value is expected to be almost US$ 2.84 Billion by 2032. The CAGR for the global colonoscopy devices market from 2024 to 2032 is 5.13%. Renub Research stated that it amounted to US$ 1.81 Billion in 2023.

The interior of the large intestine (colon) is examined during a colonoscopy. It helps diagnose gastrointestinal sicknesses, including inflammatory bowel disease and colon cancer and can help treat and prevent colon cancers. Healthcare providers suggest ordinary colonoscopies for middle-aged and older adults to screen for cancer. The WHO estimated that it predominantly impacts older individuals, with most instances occurring in the elderly 50 and above. The procedure uses an extended, flexible tube called a colonoscope. The tube has a light and a tiny camera on one end. It travels to the colon after entering the rectum. The significant gain of having a colonoscopy is that it allows one to come across early signs and symptoms of cancers and allows the physician to cast off polyps. These, through the years, can emerge as cancerous.

Global Colonoscopy Devices Industry Trends

•    Increasing Incidence of Colorectal Cancer

Colorectal cancer is a kind of cancer that impacts the colon (large intestine) or rectum. It is one of the most typical states of cancer globally. It can cause excessive damage and death. A colonoscopy is one of several screening exams for colorectal cancers. This is increasing the boom in the worldwide colonoscopy devices market. The World Health Organisation states that colon cancer is the second main reason for most cancer-associated deaths worldwide. In 2020, more than 1.9 million new cases of colorectal cancer and more than 930,000 deaths because of colorectal cancer have been estimated to have occurred internationally. By 2040, the burden of colorectal cancer will increase to 3.2 million new instances per year (an increase of 63%) and 1.6 million deaths per year (a rise of 73%).

•    Increasing Preference for Minimally Invasive Techniques

Many illnesses and situations of the colon and rectum are treated surgically. A healthcare professional can use conventional (open) or minimally invasive techniques, depending on the case. Minimally invasive colon and rectal surgical procedures are constantly evolving. Laparoscopic colon surgical treatment or colectomy is a minimally invasive approach wherein small tubes with a mild and camera attached are inserted into small incisions (cuts) within the stomach. The NIH states that for both colon and rectal resection, more than 80% of respondents indicated that minimally invasive strategies are predominantly used (a minimally invasive approach in > 50%) for the techniques of their health facility. Specialist surgeons more often utilized minimally invasive surgery (MIS) than general surgeons for colon (94.8% vs. 71.7%) and rectal (91.2% vs. 64.6%). This is proliferating the global colonoscopy devices market.

•    Emphasis on Early Detection

The preventability of colorectal cancer is generally because of the character of its progression. Regular screening checks like colonoscopy can detect and remove the precancerous polyps before they become malignant or cancerous. This prevents the development of colorectal cancer. Early detection of colorectal cancer dramatically improves the possibilities of successful treatment. If the ailment is diagnosed in its earliest degrees (Stage 0 to Stage 1), the 5-year survival rate is typically over 90%. This adds to the boom in the global colonoscopy devices industry. The Boston Public Health Commission (BPHC) and the Colon Cancer Coalition are partnering to assist in saving lives from colon cancer, especially in communities of color that might be in greater danger. Males and females 45 years or older are educated about the significance of routine colorectal cancer screening through the CDC's Screen for Life National Colorectal Cancer Action Campaign. Initiatives like those are also supporting the global colonoscopy devices market.

•    Advances in Technology

Colonoscopy is an ever-growing technique. It is the primary diagnostic and therapeutic modality for coping with lower gastrointestinal pathologies. Colonoscopy performs a vital function in the screening and remedy of colorectal cancer. The NIH estimates that more than 15 million colonoscopies are done in the United States yearly, and they are estimated to lower the general threat of colorectal cancer demise by more than 60%. Various technical improvements have also been made to improve colonoscopy. This is propelling the global colonoscopy devices market. For instance, in October 2023, the next-generation EVIS X1TM endoscopy system from Olympus Corporation, a global medical technology company dedicated to improving people's lives through health, safety, and fulfillment, is expected to go on sale in the United States. It will be showcased and demonstrated from October 22–24 at the American College of Gastroenterology (ACG) annual meeting in Vancouver, Canada.

United States Colonoscopy Devices Market

The United States dominates the global colonoscopy devices market due to its superior healthcare infrastructure and large patient population. This drives the demand for these devices. The National Institutes of Health suggested that in 2023, about 153,020 people will be diagnosed with colorectal cancer, with 52,550 deaths. This includes 19,550 instances and 3,750 deaths in people younger than 50. The U.S. has also led in technological innovation with the nonstop improvement of colonoscopy devices. This ensures the supply of current technologies that appeal to domestic and international consumers.

Favorable reimbursement rules and coverage insurance drive the full-size adoption of colonoscopy techniques within the United States. This fuels the dominance of colonoscopy devices. Stringent FDA oversight ensures protection and effectiveness, boosting self-belief and demand. Institutions and universities aid the United States' recognition of gastrointestinal R&D. This fosters continuous improvement in colonoscopy devices, cementing its industry leadership.

Global Colonoscopy Devices Company News

Boston Scientific Corporation, Fujifilm Holdings Corporation, Hoya Corporation, Medtronic plc, Olympus Corporation, Stryker Corporation, Steris Corp., Merit Medical Systems Inc., and Getinge AB are the leading companies in the worldwide colonoscopy devices market.

• In March 2024 - The Italian medical device company Endostart secured FDA 510(k) clearance for its colonoscopy device, Endorail, to optimize prolonged gastrointestinal procedures. Following a multicenter clinical trial demonstrating the device's safety, this clearance enables its entry into the US market. Endorail employs a magnetic balloon system to streamline prolonged colonoscopies, aiming to reduce associated costs.
• In January 2024 - AnX Robotica, a manufacturing company based in the United States, obtained de novo clearance from the US Food and Drug Administration (FDA) for its AI-assisted endoscopy tool, NaviCam ProScan.
• In July 2023 - The FDA approved the marketing of MAGENTIQ-COLO™, an advanced AI gastrointestinal lesion detection system. This cutting-edge software aids in real-time lesion detection during colonoscopy procedures.
• In August 2022 - India Medtronic Private Limited unveiled the introduction of the GI Genius intelligent endoscopy module, an innovative computer-aided polyp detection system driven by artificial intelligence (AI).

Products – Market breakup in 4 viewpoints:

1.    Colonoscope
2.    Visualization system
3.    Other

Application – Market breakup in 4 viewpoints:

1.    Colorectal Cancer
2.    Ulcerative Colitis
3.    Crohns Disease
4.    Others 

End-User – Market breakup in 3 viewpoints:

1.    Hospitals
2.    Clinics & Ambulatory surgical centers
3.    Others

Country – Market breakup of 25 Countries:

1.    North America

1.1    United States
1.2    Canada

2.    Europe

2.1    France
2.2    Germany
2.3    Italy
2.4    Spain
2.5    United Kingdom
2.6    Belgium
2.7    Netherlands
2.8    Turkey

3.    Asia Pacific

3.1    China
3.2    Japan
3.3    India
3.4    South Korea
3.5    Thailand
3.6    Malaysia
3.7    Indonesia
3.8    Australia
3.9    New Zealand

4.    Latin America

4.1    Brazil
4.2    Mexico
4.3    Argentina

5.    Middle East & Africa

5.1    Saudi Arabia
5.2    United Arab Emirates
5.3    South Africa

All the Key players have been covered from 3 Viewpoints:

•    Overview
•    Recent Development
•    Revenue Analysis

Company Analysis:

1.    Boston Scientific Corporation
2.    Fujifilm Holdings Corporation
3.    Hoya Corporation
4.    Medtronic plc,
5.    Olympus Corporation
6.    Stryker Corporation
7.    Steris Corp.
8.    Merit Medical Systems Inc.
9.    Getinge AB

Report Details: