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Proctoscope Market Analysis, Growth, Trend, Demand And Forecast To 2033
Proctoscope Market Analysis
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According to The Business Research Company's, The proctoscope market size has grown exponentially in recent years. It will grow from $1.25 billion in 2023 to $1.61 billion in 2024 at a compound annual growth rate (CAGR) of 28.8%. The growth in the historic period can be attributed to increasing prevalence of colorectal diseases, growth in aging population, improvements in diagnostic procedures, rising awareness of colorectal health, expansion of healthcare infrastructure.
The proctoscope market size is expected to see exponential growth in the next few years. It will grow to $4.09 billion in 2028 at a compound annual growth rate (CAGR) of 26.3%. The growth in the forecast period can be attributed to growing demand for minimally invasive diagnostic tools, increasing emphasis on early detection of colorectal conditions, expansion of colorectal cancer screening programs, rising healthcare expenditure, customization of proctoscopes for specific diagnostic needs. Major trends in the forecast period include development of disposable proctoscopes, integration of digital imaging in proctoscopy, emphasis on ergonomic design for patient comfort, adoption of teleproctoscopy services, growth of virtual colonoscopy as an alternative..
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Market Drivers and Trends:
The increasing prevalence of colorectal cancer is expected to propel the growth of the proctoscope market going forward. Colorectal cancer is a type of cancer of the colon, which occurs through the development of cells in the lower end of the digestive tract. A proctoscope, a cancer screening tool, allows doctors to view the large intestine through the camera on its end that deliver images to a nearby monitor throughout the procedure, and that helps in the easy diagnosis of colorectal cancer. For instance, According to National Cancer Institute (NCI) data, a US-based government agency, approximately 153,020 men and women in the U.S. are diagnosed with colorectal cancer in 2023, leading to about 52,550 deaths. Therefore, the increasing prevalence of colorectal cancer drives the growth of the proctoscope market.
Technological advancements are a key trend gaining popularity in the proctoscope market. Major companies operating in the proctoscope market are developing new technologies to sustain their position in the market. For instance, in January 2023, Haemoband Surgical, a UK medical device company, launched the HB-SleeveLUX Proctoscope for proctoscopes. The HB-SleeveLUX Proctoscope is a disposable, single-use instrument for diagnosing and treating disorders of the lower retum and anal canal. The device's distinctive, patented comfort sleeve and locking technology design enhance patient comfort and make the application more accessible and practical.
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Major Key Players of the Market:
Medline Industries LP, Becton Dickinson & Company, Rocket Medical Plc, Karl Storz SE & Co. KG, Pelican Healthcare Ltd., Puritan Medical Products Co LLC, Richard Wolf GmbH, Heine Optotechnik, Hallmark Surgical Ltd., GPC Medical Ltd., Sklar Corporation, Purple Surgical, Surgical Holdings, Timesco Healthcare Ltd, Griffiths & Nielsen Limited, IndoSurgicals Pvt. Ltd., Evexar Medical Limited, Faromed GmbH Medizintechnik, Electro Surgical Instrument Company, Parburch Medical Developments Ltd, Surtex Instruments Limited, Novo Surgical Inc., BridgeMaster Medical Ltd, Adler MicroMed Inc., Pauldrach Medical GmbH, Steril Medical, Nopa Instruments Medizintechnik GmbH, Advin Healthcare Private Limited, Medicam India, Taizhou Safefusion Medical Instruments Co. Ltd.
Proctoscope Market 2024 Key Insights:
• The proctoscope market size is expected to see exponential growth in the next few years. It will grow to $4.09 billion in 2028 at a compound annual growth rate (CAGR) of 26.3%.
• Rising Colorectal Cancer Rates Drive Surge In Proctoscope Market Growth
• Technological Advances Propel Proctoscope Market Evolution
• North America was the largest region in the Proctoscope market in 2023
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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