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Virtual Colonoscopy Software Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | Hitachi Medical Corporation, Medtronic PLC, Siemens Healthineers, Koninklijke Philips N.V., Boston Scientific Corporation
Virtual Colonoscopy Software Market Trends
The Business Research Company offers in-depth market insights through Virtual Colonoscopy Software Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The virtual colonoscopy software market size has grown strongly in recent years. It will grow from $31.19 billion in 2023 to $33.69 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to advancements in imaging technology, aging population, remote consultations, reimbursement policies.
The virtual colonoscopy software market size is expected to see strong growth in the next few years. It will grow to $44.23 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to global healthcare access, personalized screening, telemedicine, patient education and awareness. Major trends in the forecast period include ai-assisted image analysis, improved 3d visualization, patient-centered care, elevated privacy and data security.
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Market Segmentation:
The main types of products included in virtual colonoscopy software are two dimensional (2D) and three dimensional (3D). Two-dimensional (2D) refers to things or shapes with just length and width that exist in a flat plane. 2D products play an important role in virtual colonoscopy software and contribute to the detection and examination of colorectal abnormalities. It can be deployed on-premises and in cloud, for several applications, such as polyps, crohn's disease, ulcerative colitis, colorectal cancer (CRC), diverticulosis and stenosis. The end-users included are hospitals, clinics, diagnostic centers and ambulatory surgical centers.
Major Driver - Impact Of Rising Colorectal Cancer Incidence On The Virtual Colonoscopy Software Market
The increasing incidents of colorectal cancer are expected to propel the growth of the virtual colonoscopy software market going forward. Colorectal cancer is a type of cancer that develops in the tissues of the colon. Virtual colonoscopy software plays an essential role in colorectal cancer by providing a minimally invasive and non-invasive method for screening and detecting abnormalities in the colon. For instance, in September 2022, according to the International Agency for Research on Cancer, a France-based government agency, it was estimated that by 2040, there would be 3.2 million new cases and 1.6 million deaths attributed to colorectal cancer each year, representing a significant increase from 1.9 million newly diagnosed patients and 930,000 deaths in 2020. Therefore, increasing incidents of colorectal cancer are driving the growth of the virtual colonoscopy software market.
Competitive Landscape:
Major players in the virtual colonoscopy software market are Hitachi Medical Corporation, Medtronic PLC, Siemens Healthineers, Koninklijke Philips N.V., Boston Scientific Corporation, Olympus Corporation, GE HealthCare Technologies Inc., Hologic Inc., Stony Brook University, Carestream Health, Toshiba Medical Systems Corporation, Barco NV, Agfa Healthcare, Cybernet Systems Co. Ltd., Intelerad Medical Systems Incorporated, Canon Medical Informatics Inc., TeraRecon Inc., iCAD Inc., Median Technologies, LEXION Medical LLC, Mentice Inc., Pie Medical Imaging, Ziosoft USA Inc., EDDA Technology Inc., Intrasense SA, Volumina Medical, Medweb, Viatronix Inc., Voxel-Q.
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Top Trend - Advancements In Ai-Based Endoscopy Transforming The Virtual Colonoscopy Software Market
Major companies operating in the virtual colonoscopy software market are focused on adopting advanced technical solutions, such as AI-based endoscopy to sustain their position in the market. AI-based endoscopy refers to the use of artificial intelligence (AI) technology in gastrointestinal (GI) endoscopy procedures. For instance, in August 2022, Medtronic PLC, a US-based medical device company, launched the GI Genius module, an artificial intelligence-driven endoscopy module for treating colorectal cancer. This module uses artificial intelligence and deep learning algorithms to assist physicians in detecting and treating colorectal cancer. It provides enhanced visualization during colonoscopy and uses AI software to highlight suspicious polyps in real-time. The module is a significant development that can help with the early detection of colorectal cancer.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Virtual Colonoscopy Software Market Characteristics
3. Virtual Colonoscopy Software Market Trends And Strategies
4. Virtual Colonoscopy Software Market - Macro Economic Scenario
5. Virtual Colonoscopy Software Market Size And Growth
…..
27. Virtual Colonoscopy Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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