New York, NY, June 26, 2019 (GLOBE NEWSWIRE) — Zion Market Research has published a new report titled “Colonoscopy Devices Market by Type (Visualization Systems, Colonoscope, and Other Instruments) and by End-User (Hospitals and Ambulatory Surgery Centers, Diagnostic Centers, Clinics, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global colonoscopy devices market was approximately USD 1.70 billion in 2018 and is expected to generate around USD 2.41 billion by 2025, at a CAGR of around 5.1% between 2019 and 2025.
Colonoscopy devices are used for detecting several diseases related to the colon. This device is disposable, thin, long, and flexible in the form of a controllable tube, which consists of a camera, light, and tools at the end. It is used in biopsies and other surgical procedures. The clinical administrator inserts the device into the rectum of the patient to observe the gastrointestinal tract, bowels, and anus to identify cancer or other abnormalities. It is used to remove polyps, which are very miniscule in size. Once removed, these polyps are observed under the microscope to determine the risk associated with it. Different instruments are being developed to increase visualization angles, such as endoscopes, colonoscopes with multiple lenses, short turn radius colonoscopes, and multiple accessory devices.
Browse through 37 Tables & 22 Figures spread over 110 Pages and in-depth TOC on “Global Colonoscopy Devices Market 2018: By Type, Industry Size, Share, Segments, Analysis, and Forecast to 2025”.
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The colonoscopy devices market is divided into based on type and end-user. Based on type, the market is divided into visualization systems, colonoscope, and other instruments. Innovative instruments and procedures have been developed to remove drawbacks related to colon surgeries; some of them are advanced endoscopes and add-on instruments, which can be attached to colonoscopies during treatment. These instruments maximize the ability to penetrate and safely maneuver the insides of the rectum and remove the infected polyps. New types of colonoscopes have been developed with a wider view and more cameras to expand image transmission capabilities. A number of add-on devices are useful in the detection of lesions in colonic folds. These add-on devices are attached to a standard colonoscope. The end-user segment of the colonoscopy devices market comprises hospitals and ambulatory surgery centers, diagnostic centers, clinics, and others.
North America is a significant contributor to the global colonoscopy devices market, mainly due increasing the prevalence of rectal diseases, presence of a developed healthcare system, the growing emphasis on the development of innovative products, and rising number of companies manufacturing colonoscopy devices. Various health programs are being conducted by the governments to make the regional population aware of the disorders related to the colon. These programs also provide fund various research and development activities of new procedures and instruments for intensive surgeries. There have been technological developments related to colonoscopy devices and highly efficient manufacturing methods. Technological advances and well-established healthcare institutes are other major drivers of this regional market’s growth.
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The European colonoscopy devices market holds a large share of globally, owing to the increasing government funding for intensive medical procedures. Companies in Europe are coming up with next-generation and innovative solutions to perform the rather uncomfortable and painful colonoscopies. The UK, France, and Germany have huge potential and have established several companies aiding various research and development activities in this area. Substantial developments witnessed related to new types of multi-use and single-use devices has also resulted in the steady growth of the European market. Many companies are coming up in the field of gastroenterology that are providing solutions for gastrointestinal endoscopy procedures. Technologies, such as dual focus, narrow band imaging, and responsive insertion, have been developed to save resources, enhance diagnostic quality, and aid patients in colonoscopy procedures.
The Asia Pacific region will register noticeable CAGR in the global colonoscopy devices market in the future, due to rapidly growing colonoscopy devices demand in India and China. There is increased use of colposcopies in these countries owing to better infrastructure, healthcare facilities, and hospitals. Other growth factors include increasing disposable income and healthcare expenditure, growing colon-related diseases cases due to unclean and unhygienic environments, especially in rural areas, and rising awareness about colon-related infections. There are various hospitals that provide excellent colonoscopy treatment options. For instance, Apollo Hospitals, in India, leads in innovations related to colonoscopy procedures. There are several institutes, such as the Asian Institute of Gastroenterology, which are bringing about new research techniques in colonoscopy procedures and provide a wide range of treatments, such as upper GI endoscopy, capsule endoscopy, ERCP, and colonoscopy.
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The Middle East and Africa represent an underdeveloped regional market for colonoscopy devices. The region is projected to grow at a slow pace over the forecast time period. The Latin American colonoscopy devices market witnessed moderate growth in the last few years and is an emerging market that is projected to exhibit considerable growth in the upcoming years.
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Some key players operating in the global colonoscopy devices market are Endomed Systems, HOYA Group, Olympus, Boston Scientific, Karl Storz, Avantis Medical Systems, Fujifilm Holdings, and Getinge Group.
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This report segments the global colonoscopy devices market as follows:
Global Colonoscopy Devices Market: By Type
- Visualization systems
- Other instruments
Global Colonoscopy Devices Market: By End-User
- Hospitals and Ambulatory Surgery Centers
- Diagnostic Centers
Global Colonoscopy Devices Market: By Region
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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