A recent report published by Infinium Global Research on the colonoscopy device market provides an in-depth analysis of segments and sub-segments in global as well as regional colonoscopy device market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional colonoscopy device market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global colonoscopy device market. According to the report the global colonoscopy device market is projected to grow at a CAGR of 5.25% over the forecast period of 2018-2024.
Colonoscopy devices are used to examine of the distal part of the small bowel and the large bowel with a CCD camera or a fiber optic camera on a flexible tube passed through the anus. Visual diagnosis is provided that helps for biopsy or elimination of suspected colorectal cancer lesions. Colonoscopy is the screening test for colorectal cancer.
The component used in colonoscopy devices includes colonoscope, visualization systems, and others. The colonoscope is expected to be the largest market share during the forecast period. The coloscope is the thin component that helps to diagnose colorectal cancer, gastrointestinal bleeding, diverticular disease, inflammatory bowel diseases (IBD), such as Crohn's disease and ulcerative colitis. These devices used in hospitals, diagnostic center and clinics for undergoing a procedure. Among the end-user hospitals and ambulatory surgery centers accounted for the majority of share in the coming years.
The rise in disease and death from chronic diseases such as rectal cancer, colon cancer, and GI bleeding-related disorders has increased the frequency of diagnostic screening procedures of intestinal diseases. Thus increasing incidences of intestinal disorders such as colon cancer, GI hemorrhage, ulceration, and polyps worldwide is likely to boost the growth of the market. Moreover, the increasing awareness of the effects of colon disorders among the people is expected to fuel the growth of the colonoscopy devices market worldwide in the coming years. On the other hand, the risk associated with the procedure and lack of skilled professionals is likely to hamper the growth of the market.
Among the regions, North America is expected to be the largest market for colonoscopy devices. Rising incidences of colorectal cancer and other colon related diseases are the major factor for the growth of this market in North America. Furthermore, the growing adoption of colposcopies in emerging countries such as China and India is likely to fuel the growth in the Asia-Pacific region.
The new product launch and innovation is the key strategy of the leading player in this market. For instance in 2017 launch of two new products for an advanced endoscopic platform which includes ClutchCutter and FlushKnife devices by Fujifilm Holdings.
The report on the global colonoscopy device market covers segments such as component and end user. On the basis of the component, the global colonoscopy device market is categorized into colonoscope, visualization systems, and others. On the basis of end user the global colonoscopy device market is categorized into hospitals and ambulatory surgery centers, diagnostic centers, and clinics.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and the Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global colonoscopy device market such as Fujifilm Holdings, KARL STORZ, OLYMPUS, Endomed Systems, Boston Scientific, Avantis Medical Systems, HOYA Group, Getinge Group, and Others.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global colonoscopy device market. Moreover, the IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of colonoscopy device market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the colonoscopy device market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the colonoscopy device market to understand the present and future trends in this market and formulate their strategies accordingly.