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Colonoscopy Devices - Global Market Trajectory & Analytics

  • ID: 5028070
  • Report
  • February 2022
  • Region: Global
  • 338 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • GI View Ltd
  • KARL STORZ SE & Co. KG
  • Medtronic Plc
  • Olympus America
  • PENTAX Medical
  • Pro Scope Systems

Global Colonoscopy Devices Market to Reach $1.8 Billion by 2026


Colonoscopy devices comprise a long, flexible, and thin tube, with a light, camera, and tools placed at one end of the tube. These devices can be used for removing polyps, which can subsequently be examined under the microscope for identifying the presence of an infection. In the past few years, various instruments have been developed for enhancing visualization angles, including endoscopes, short-run radius colonoscopes, colonoscopy devices with several lenses, and various accessory devices. In recent years, innovative procedures and instruments are being rolled out for removing the barriers pertaining to colon surgeries. Recent technological advancements have resulted in the development of advanced endoscopic devices and accessories, which can be attached to the colonoscopes at the time of treatment. These instruments are designed for maximizing their capability of penetrating and safely maneuvering the interiors of the rectum and removing the infected polyps. New colonoscopy devices are also being developed with several cameras and a wider view for enhancing their image transmission capabilities. However, the availability of substitutes for treating rectal diseases, lack of consumer awareness, and complications related to colonoscopy procedures are some factors that are anticipated to restrain the market growth in the near future.

Amid the COVID-19 crisis, the global market for Colonoscopy Devices estimated at US$1.5 Billion in the year 2020, is projected to reach a revised size of US$1.8 Billion by 2026, growing at a CAGR of 3.8% over the analysis period. Visualization Systems, one of the segments analyzed in the report, is projected to record a 3.9% CAGR and reach US$938.6 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Colonoscopes segment is readjusted to a revised 4.1% CAGR for the next 7-year period.



The U.S. Market is Estimated at $458.2 Million in 2021, While China is Forecast to Reach $162.7 Million by 2026


The Colonoscopy Devices market in the U.S. is estimated at US$458.2 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$162.7 Million by the year 2026 trailing a CAGR of 6.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3% and 3.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3% CAGR.

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.

Asia-Pacific is expected to register the highest growth, owing to the rapid increase in demand for colonoscopy devices in China and India. These countries are witnessing a significant rise in the number of colonoscopy procedures, attributed to improvements in hospitals, healthcare facilities, and infrastructure. In addition, the growth in the regional market is propelled by the rising income levels and healthcare expenditure, growing awareness regarding colon-related disorders, and higher prevalence of colon-related diseases due to unhygienic and unclean environments, particularly in the rural areas. In recent years, the colonoscopy devices market in the region is also benefiting from the funds and grants being provided by various government authorities for creating consumer awareness regarding minimally invasive surgeries. However, shortage of physicians trained in colonoscopy procedures and unfavorable reimbursement policies are anticipated to hamper growth in the region.

By End-Use, Hospitals Segment to Reach $1 Billion by 2026


Global market for Hospitals (End-Use) segment is estimated at US$848.3 Million in 2020, and is projected to reach US$1 Billion by 2026 reflecting a compounded annual growth rate of 4.1% over the analysis period. Europe constitutes the largest regional market for Hospitals segment, accounting for 32.7% of the global sales in 2020. China is poised to register the fastest compounded annual growth rate of 6.7% to reach US$108.2 Million by the close of the analysis period.

Select Competitors (Total 17 Featured) -

  • FUJIFILM Holdings America Corporation
  • GI View Ltd
  • HUGER Medical Instrument Co.,Ltd
  • KARL STORZ SE & Co. KG
  • MECAN MEDICAL EQUIPMENT CO LTD
  • Medtronic Plc
  • Olympus America
  • PENTAX Medical
  • Pro Scope Systems
  • Sonoscape Medical Corp.
  • STERIS Plc
The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Frequently Asked Questions about the Global Market for Colonoscopy Devices

What is the estimated value of the Global Market for Colonoscopy Devices?

The Global Market for Colonoscopy Devices was estimated to be valued at $1.5 Billion in 2020.

What is the growth rate of the Global Market for Colonoscopy Devices?

The growth rate of the Global Market for Colonoscopy Devices is 3.1%, with an estimated value of $1.8 Billion by 2026.

What is the forecasted size of the Global Market for Colonoscopy Devices?

The Global Market for Colonoscopy Devices is estimated to be worth $1.8 Billion by 2026.

Who are the key companies in the Global Market for Colonoscopy Devices?

Key companies in the Global Market for Colonoscopy Devices include FUJIFILM Holdings America Corporation, GI View Ltd, HUGER Medical Instrument Co.,Ltd, KARL STORZ SE & Co. KG, MECAN MEDICAL EQUIPMENT CO LTD, Medtronic Plc, Olympus America, PENTAX Medical and Sonoscape Medical Corp..
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • GI View Ltd
  • KARL STORZ SE & Co. KG
  • Medtronic Plc
  • Olympus America
  • PENTAX Medical
  • Pro Scope Systems

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Drop in Colorectal Cancer Screenings due to COVID-19 Crisis Impacts the Colonoscopy Devices Market
  • Colonoscopy Devices – Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Colonoscopy: The Journey from Conventional Devices to Robotic Platform
  • Existing CRC Diagnostic Approaches
  • Conventional Colonoscopy
  • CT-Scan/Virtual Colonoscopy
  • Wireless Capsule Endoscopy (WCE)
  • Increasing Focus on Magnetically-Driven Robotic Platform
  • Colonoscopy Devices Market Prospects and Outlook
  • Regional Market Perspective
  • Leading Players
  • WORLD BRANDS
  • RECENT MARKET ACTIVITY

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Rising Incidence of Colorectal Cancer Spurs Market Growth
  • Global Cancer Incidence by Region: 2018
  • Global Cancer Incidence by Type: 2018
  • Common Cause of Cancer Deaths Worldwide - Number of Deaths due to Select Types of Cancer for 2018
  • Colorectal Cancer Mortality and Screening Trends in the US
  • Percentage Breakdown of New Cases for Colon and Rectum Cancers by Gender (2019)
  • Growing Preference for Minimally Invasive Surgeries Drives Demand for Colonoscopy systems
  • Aging Population Drives Demand for Colonoscopy Devices
  • Global Population of 65+ Individuals (In 000s) by Region for the Years 2015, 2020 & 2025
  • Colorectal Cancer Burden Gradually Shifts from Older Individuals to Younger Population
  • Increasing Healthcare Expenditure to Foster Growth
  • World Healthcare Expenditure (In US$ Trillion) for the Years 2016 & 2018
  • Per Capita Healthcare Expenditure (in $) by Select Countries for 2018
  • Recent Technological Advancements and Launches Drive Market Growth
  • Prepless, Ingestible Imaging Capsule to Screen Colorectal Cancer
  • Artificial Intelligence to Hold Instrumental Role in Timely Identification of Colorectal Cancer during Colonoscopy
  • Invendo Medical Develops Single-use Invendoscope SC200 with OEM Peristaltic Pumps
  • SMART Medical Systems Introduces G-EYE® 760R Colonoscope in Europe
  • Fujifilm Europe Launches CAD EYE Function for Real-Time Identification of Colonic Polyp during Colonoscopy
  • Motus GI Introduces Pure-Vu GEN2 Colon Cleansing System for Colonoscopy Bowel Preparation
  • Demand Increases for Colon Capsules
  • World Capsule Endoscopy Market by Product Segment (%): 2019E

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Colonoscopy Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Rising Incidence of Colorectal Cancer Cases Spurs Growth in Colonoscopy Devices
  • Estimated Number of New Cancer Cases and Deaths in the US (2019)

CANADA

  • Number of New Cancer Cases in Canada: 2019

JAPAN

  • Colonoscopy Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
  • Graying Population Spurs Growth Prospects
  • Japanese Elderly (65+ Years) Population: 2000-2022

CHINA

  • Colonoscopy Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • Rising Incidence of Cancer to Drive the Colonoscopy Devices Market
  • Number of New Cancer Cases Diagnosed (in Thousands) in China: 2019

EUROPE

  • Colonoscopy Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Rising Colon Cancer Incidence Augur Well for European Colonoscopy Devices Market
  • Cancer Incidence in Europe: Number of New Cancer Cases (in Thousands) by Site for 2018
  • Number of New Cancer Cases Diagnosed (in Thousands) in the UK: 2018

FRANCE

  • Colonoscopy Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)

GERMANY

  • Colonoscopy Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

  • Colonoscopy Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)

SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • Colonoscopy Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • An Insight into Asia-Pacific Market for Colonoscopy Devices
  • Cancer Incidence in Asia: Number of New Cancer Cases (in Thousands) for 2019

AUSTRALIA

  • Colonoscopy Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)

INDIA

  • Colonoscopy Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)

SOUTH KOREA


REST OF ASIA-PACIFIC

LATIN AMERICA

  • Colonoscopy Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)

ARGENTINA


BRAZIL


MEXICO


REST OF LATIN AMERICA

MIDDLE EAST

  • Colonoscopy Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)

IRAN


ISRAEL


SAUDI ARABIA


UNITED ARAB EMIRATES


REST OF MIDDLE EAST

AFRICA

  • Colonoscopy Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)

IV. COMPETITION

  • Total Companies Profiled: 17
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • FUJIFILM Holdings America Corporation
  • GI View Ltd
  • HUGER Medical Instrument Co.,Ltd
  • KARL STORZ SE & Co. KG
  • MECAN MEDICAL EQUIPMENT CO LTD
  • Medtronic Plc
  • Olympus America
  • PENTAX Medical
  • Pro Scope Systems
  • Sonoscape Medical Corp.
  • STERIS Plc
Note: Product cover images may vary from those shown