Colonoscopy Devices Market Grow at CAGR of 5.31% During 2023-2028

According to IMARC Group's latest research report, titled "Colonoscopy Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global colonoscopy devices market size reached US$ 1.54 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.1 Billion by 2028, exhibiting a growth rate (CAGR) of 5.31% during 2023-2028.

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Colonoscopy Devices Market Outlook:

Colonoscopy devices are medical instruments used in a colonoscopy procedure, a diagnostic test used to examine the large intestine (colon) for abnormalities such as polyps, tumors, or inflammation. These devices typically consist of a flexible tube with a camera and light source at the end, inserted into the rectam and guided through the colon. The device allows the doctor to see the inside of the colon and perform a biopsy or remove any polyps detected. Various types of colonoscopy devices are available, including standard colonoscopes, virtual colonoscopy devices, and disposable colonoscopy devices.

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Colonoscopy Devices Market Trends:

The global market is primarily driven by the increasing prevalence of colorectal cancer and other gastrointestinal disorders. In line with this, the early detection and diagnosis programs and favorable reimbursement policies are significantly contributing to the market growth. Furthermore, the rising awareness of gastrointestinal disorders and growing healthcare infrastructure are positively influencing the market. Apart from this, the key players are heavily investing in R&D to develop advanced colonoscopy devices that offer improved accuracy, efficiency, and patient comfort. Moreover, hospitals worldwide combine advanced technologies, such as AI and 5G, with colonoscopy to improve the quality of diagnosis of various cancers. This, in turn, is expected to bolster the market. Additionally, the emergence of virtual colonoscopy devices and rapid technological advancements are anticipated to provide a boost to the market.

Key Market Segmentation:

Competitive Landscape with Key Players:

• Endomed Systems GmbH
• FUJIFILM Holdings Corporation
• GI-View Ltd.
• HOYA Corporation
• KARL STORZ SE & Co. KG
• Medtronic plc
• Olympus Corporation
• STERIS Corporation

Product Type Insights:

• Colonoscope
• Visualization Systems
• Others

Application Insights:

• Colorectal Cancer
• Lynch Syndrome
• Ulcerative Colitis
• Crohn's Disease
• Others

End User Insights:

• Hospitals
• Ambulatory Surgery Center
• Others

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance
• Market Outlook
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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This release was published on openPR.