Colonoscopes Market Projected to Reach at US$ 2,005.32 Million by 2028

This is a professional and in-depth study on the current state of the Colonoscopes Market with a basic overview of the industry including definitions, classifications, applications and industry chain structure. The Strategic Insights and Development plans are also discussed and manufacturing processes and cost structures analyzed. Colonoscopes Market import/export consumption, supply and demand figures and cost price and production value gross margins are also provided.

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According to our latest research study on "Colonoscopes Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product Type, Application, End User, and Geography," the market is projected to reach US$ 2,005.32 million by 2028 from US$ 1,467.66 million in 2021; it is estimated to grow at a CAGR of 4.6% from 2021 to 2028. The report highlights trends prevailing in the market and factors governing growth of the market.

Colonoscopes are used to remove foreign bodies, excise tumors or colorectal polyps (polypectomy), and control bleeding. These devices consist of a proximal housing, a flexible insertion tube, and an "umbilical cord," connecting the proximal housing to the light source. Colonoscopes have several open channels for suction, water, and air supply as well as for the insertion of accessory instruments and cannulas. The distal tip of video colonoscopes contains a charge-coupled device (CCD) that acts as a small camera and electronically transmits image from the CCD to an external video processing unit. Routine colonoscopy is important in diagnosing intestinal cancer, which is the second-leading cause of cancer-led deaths in the US. These endoscopic procedures reduce the need for invasive surgical diagnostic and therapeutic procedures.

Key Players are:

The colonoscopes market majorly consists of the players such as Fujifilm Corporation, Olympus Corporation, KARL STORZ SE & Co. KG, EndoMed Systems, PENTAX Medical, Consis Medical, GI-View, Boston Scientific Corporation, Ambu A/S, and SonoScape Medical Corp amongst others. The companies have been implementing various strategies that have helped the growth of the company and in turn have brought about various changes in the market. The companies have adopted several inorganic and organic strategies to accelerate their growth and improve their market position.

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Below is the list of the growth strategies done by the players operating in the colonoscope market:

July-2021: Olympus Corporation took part in a project as a business promoter, in cooperation with the Ministry of Internal Affairs and Communications (MIC) of Japan, entitled "Survey Study for International Expansion of Endoscopes Utilizing High-definition Imaging Technology AI Diagnosis Support System in Thailand." The project aimed to develop advanced endoscopy diagnostics in Thailand. Moreover, specialist lecturers and physicians would train doctors in various techniques for detecting diseases and differential diagnosis by colonoscopes.

Apr-2021: FUJIFILM Medical Systems launched the G-EYE 700 Series Colonoscope. G-EYE, a technology developed by Smart Medical to assist during routine examinations. The G-EYE 700 series colonoscopes expanded Fujifilm's innovative colonoscope portfolio offering. G-EYE will be offered as an extension to the 700-series colonoscope family that is compatible with Fujifilm's ELUXEO endoscopic video imaging system

Feb-2021: FUJIFILM Medical Systems announced that its complete portfolios of endoscopy and endo surgery products would be available to members of Vizient Inc. at contracted pricing. It covered a wide array of products.

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