Colonoscopy Devices Market - By Product Type (Colonoscope, Visualization Systems), Application (Colorectal Cancer, Lynch Syndrome, Ulcerative Colitis, Crohns Disease), End-use (Hospitals, Ambulatory Surgical Centers) – Global Forecast, 2024 – 2032

Colonoscopy Devices Market - By Product Type (Colonoscope, Visualization Systems), Application (Colorectal Cancer, Lynch Syndrome, Ulcerative Colitis, Crohns Disease), End-use (Hospitals, Ambulatory Surgical Centers) – Global Forecast, 2024 – 2032

Colonoscopy Devices Market Size

Colonoscopy Devices Market size was valued at around USD 2.1 billion in 2023 and is expected to expand at a CAGR of 5% from 2024 to 2032. This robust market growth can be attributed to factors such as the rising demand for minimally invasive procedures coupled with the increasing incidence and prevalence of colorectal cancer.
 

As the number of individuals diagnosed with colorectal cancer and related conditions continue to rise, there is a corresponding surge in the demand for diagnostic and therapeutic endoscopic interventions. For instance, according to the World Health Organization, in 2023, colorectal cancer was the third most common cancer worldwide, accounting for approximately 10% of all cancer cases.
 

Colorectal cancer is more common in older individuals with the majority of cases occurring in people aged 50 and above, and as the global population continues to age, there is a natural increase in the number of people at risk for colorectal cancer. The aging demographic drives the demand for colonoscopies as a crucial tool for cancer detection and prevention.
 

Colonoscopy devices are medical instruments designed for the examination and visualization of the colon and rectum. These devices play a crucial role in both diagnostic and therapeutic procedures related to the gastrointestinal tract, particularly in the detection and management of colorectal conditions.
 

Colonoscopy Devices Market Trends

The incorporation of innovative technologies into colonoscopy devices contributes to the market's evolution. These advancements enhance the efficacy, safety, and patient experience during colonoscopy procedures.
 

• The integration of high-definition (HD) imaging technologies in colonoscopy devices enhances the clarity and resolution of images captured during the procedure. For instance, in July 2022, SMART Medical Systems introduced the G-EYE 760R in the European market. This device is a high-definition colonoscope with an integrated balloon at its distal end, that can be inflated or deflated to improve the visualization and stabilization of colon walls. Such advancements aid healthcare professionals in better visualization, leading to more accurate diagnoses and facilitating the detection and removal of polyps.
   
• Moreover, the integration of 3D imaging and virtual colonoscopy techniques offers alternative approaches to traditional colonoscopy. These technologies provide detailed, reconstructed images of the colon, offering a non-invasive option for screening. Virtual colonoscopy involves using CT scans for a comprehensive examination.
   

Colonoscopy Devices Market Analysis

The market by product type is categorized into colonoscope, visualization systems, and other product types. The colonoscope segment dominated the market and accounted for over 65% market share in 2023 and is anticipated to witness significant growth during the forecast period.­
 

• The dominance of the colonoscope segment can be attributed to the pivotal role colonoscopes play in colorectal cancer diagnostics, and therapeutic interventions. As a primary tool for gastroenterologists and healthcare professionals, colonoscopes contribute significantly to preventive healthcare by allowing for the early detection of colorectal abnormalities, polyps, and lesions.
   
• Moreover, the continuous advancements in technology, such as high-definition imaging, improved ergonomics, and the integration of artificial intelligence for enhanced detection capabilities. Additionally, ongoing research and development are focused on making colonoscopies more patient-friendly, contributing to increased acceptance and adoption of colonoscopes across various healthcare facilities.

The colonoscopy devices market by application is categorized into colorectal cancer, Lynch syndrome, ulcerative colitis, Crohn's disease, and other applications. The colorectal cancer segment accounted for around USD 756 million revenue size in 2023.
 

• Colonoscopies are widely utilized in preventive screening programs for colorectal cancer. Many healthcare systems and organizations recommend routine colonoscopies, especially for individuals at higher risk due to age, family history, or other predisposing factors.
   
• The rising global incidence of colorectal cancer further drives the demand for colonoscopy devices. According to the American Cancer Society, it is estimated that in the year 2024, there will be approximately 106,590 new cases of colon cancer and 46,220 new cases of rectal cancer in the U.S. As colorectal cancer remains a significant health concern, the need for accurate and reliable diagnostic tools becomes indispensable.
   
• Additionally, colonoscopies offer high diagnostic accuracy in detecting precancerous lesions, such as polyps, and early-stage colorectal cancers. The ability to visualize the entire colon allows for the identification and removal of abnormal growths during the same procedure, contributing significantly to the overall market growth.
   

The colonoscopy devices market by end-use is categorized into hospitals, ambulatory surgical centers, and other end-users. The hospital segment is expected to grow at a CAGR of 4.9% over the analysis timeframe.
 

• Continuous innovations in colonoscopy device systems, including features such as improved visualization, precision, and safety measures, drive hospitals to adopt newer and more advanced technologies. The increasing trend towards minimally invasive surgical instrument in hospitals, including colorectal surgeries, boosts the demand for advanced colonoscopy devices.
   
• Hospitals typically follow a multidisciplinary approach to patient care. Colonoscopy procedures, involving diagnostic and therapeutic elements, benefit from the collaborative efforts of gastroenterologists, endoscopy technicians, and other healthcare professionals available in a hospital setting. Thus, these factors collectively contribute to the sustained and growing demand for colonoscopy device systems in hospitals.
   

North America colonoscopy devices market accounted for USD 689.3 million in revenue in 2023 and is predicted to witness substantial market expansion.
 

• The region is at the forefront of technological innovations in the healthcare sector. Investments in cutting-edge medical imaging technologies, endoscopy equipment, and colonoscopy devices contribute to the high precision and efficacy of procedures conducted in North America.
   
• Major players in the medical device industry, specializing in colonoscopy devices, have a significant presence in North America. This concentration of key market players facilitates technological advancements, research, and development, fuels the region's dominance.
   
• Moreover, North America has well-established awareness programs and screening initiatives for colorectal health. Increased patient awareness, coupled with physician recommendations for regular colonoscopies, drives the demand for advanced devices, reinforcing region’s key position. Hence, as these factors continue to shape the healthcare landscape, the market is expected to thrive, providing opportunities for further innovation and advancements in colonoscopy devices.
   

Colonoscopy Devices Market Share

The colonoscopy devices industry is consolidated in nature, with major companies competing to offer superior devices in this business space. The development and launch of novel advanced products for improved and enhanced procedural outcome is among a key market strategy. Some of the leading industry players including Endomed Systems, Fujifilm Holdings Corporation, Medtronic plc, and Olympus Corporation, among others have a notable presence in the market.
 

Colonoscopy Devices Market Company  

Some of the eminent market participants operating in the colonoscopy devices industry include

• Endomed Systems
• Fujifilm Holdings Corporation
• GI-View
• Medtronic plc
• Olympus Corporation
• Ottomed Endoscopy
• PENTAX Medical
• Smart Medical Systems Ltd.
• Steris PLC
• Stryker Corporation
   

Colonoscopy Devices Industry News

• In November 2021, Medtronic plc announced that the U.S. Food and Drug Administration (FDA) has granted 510(k) clearance for its PillCam Small Bowel 3 system for remote endoscopy procedures. PillCam SB3 @HOME provides a telehealth option for direct visualization and monitoring of the small bowel, to help better detect Crohn's disease, obscure bleeding, and identify sources of iron deficiency anemia (IDA). This product approval helped the company to enhance its colonoscopy product portfolio and generate increased business revenue.
   
• In January 2021, STERIS plc and Cantel Medical Corp announced that STERIS has signed a definitive agreement to acquire Cantel, through a U.S. subsidiary.  Cantel is a global provider of infection prevention products and services primarily for endoscopy and dental customers. This acquisition helped STERIS plc to extend its global reach and customer base.
   

The colonoscopy devices market research report includes an in-depth coverage of the industry with estimates & forecasts in terms of revenue in USD Million from 2018 to 2032 for the following segments

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Market, By Product Type

• Colonoscope
• Visualization systems
• Other product types

Market, By Application

• Colorectal cancer
• Lynch syndrome
• Ulcerative colitis
• Crohn's disease
• Other applications

Market, By End-use

• Hospitals
• Ambulatory surgical centers
• Other end-users

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa