Colonoscopy Devices Market Analysis, Outlook, Size by 2030
[Research Report] The colonoscopy devices market is projected to grow from US$ 2.11 billion in 2022 to US$ 3.16 billion by 2030, recording a CAGR of 5.2% during 2022–2030.
Market Insights and Analyst View:
The colonoscopy devices market forecast can help stakeholders in this marketplace plan their growth strategies. The report includes growth prospects, along with the colonoscopy devices market trends and their foreseeable impact during the forecast period.
Colonoscopies are performed with reusable scopes. They are flexible, fiber-optic instruments that are introduced into the anus and directed through the colon. The colonoscopes helps endoscopists detect chronic illnesses and check patients for malignant or precancerous diseases. People aged 50 years and above should get colonoscopies as part of a regular cancer screening regimen. In hospitals or ambulatory surgery center (ASCs), the procedures are carried out under mild sedation. Rising prevalence of colorectal cancer and increasing technological advancements in colonoscopy devices by manufacturers contribute to the growing colonoscopy devices market size. However, availability of alternative diagnostic tests for rectal diseases impedes the growth of the market.
Growth Drivers:
Rising Prevalence of Colorectal Cancer Drives Colonoscopy Devices Market Growth
Colorectal cancer is a malignant tumor formed in the tissues of rectum or colon. Rectal and colon cancer are often grouped due to the common features of both conditions. According to the World Health Organization (WHO), colon cancer ranks second in terms of cancer-related deaths worldwide. Globally, there were over 1.9 million new instances of colorectal cancer and over 930,000 deaths from the disease in 2020. There were significant regional differences in the incidence and mortality rates. Europe, Australia, and New Zealand reported the highest incidence rates, whereas Eastern Europe had the highest fatality rates. As per the data provided by European Cancer Information System, in EU-27 countries, colorectal cancer accounted for 12.7% of all new cancer diagnoses and 12.4% of total mortalities caused by the disease in 2020. High prevalence makes it the second most frequently occurring cancer, after breast cancer, and the second leading cause of death, after lung cancer in Europe. According to the WHO, in 2020, there were more than 1.9 million new cases of colorectal cancer, the annual burden of colorectal cancer is expected to rise to 3.2 million new cases (a 63% increase) and 1.6 million deaths (a 73% increase) by 2040.
In the US, colorectal cancer is the third most common cancer type (excluding skin cancer) detected every year. According to the American Cancer Society, in 2023, ~153,000 people were diagnosed with colorectal cancer in the country. These numbers include 106,950 new colon cancer cases (54,420 men and 52,550 women) and 46,050 new rectal cancer cases (27,440 men and 18,610 women). For colorectal cancer, colonoscopy is an important screening test and has become a part of routine cancer screening. Thus, the increasing prevalence of colorectal cancer propels the colonoscopy devices market growth.
Alternatives to colonoscopy include sigmoidoscopy, a less invasive form of colonoscopy, and stool sample testing, one of the noninvasive methods. From the beginning of the 21st century, physicians have been widely recommending colonoscopy to screen patients aged 50 and above for colon cancer. However, in the recent years, they have felt the need for a change in tactics. They are concerned about the cost and hassle of colonoscopy, which discourages people from undergoing these screening procedures. Moreover, equally effective tests are available that are less invasive and less of an ordeal than a colonoscopy. Thus, the availability of alternative diagnostic tests hinders the colonoscopy devices market growth.
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Colonoscopy Devices Market: Strategic Insights
Market Size Value in US$ 2.11 billion in 2022 Market Size Value by US$ 3.16 billion by 2030 Growth rate CAGR of 5.2% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Colonoscopy Devices Market: Strategic Insights
| Market Size Value in | US$ 2.11 billion in 2022 |
| Market Size Value by | US$ 3.16 billion by 2030 |
| Growth rate | CAGR of 5.2% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Report Segmentation and Scope:
The colonoscopy devices market analysis has been carried out by considering the following segments: product type, application, and end user.
Segmental Analysis:
By product type, the colonoscopy devices market is segmented into colonoscope, visualization systems, and other. The colonoscope segment held the largest market share in 2022. However, the visualization systems segment is anticipated to register the highest CAGR during 2022– 2030.
The colonoscopy devices market, by application, is segmented into colorectal cancer, lynch syndrome, ulcerative colitis, Crohn's disease, and other. The colorectal cancer segment held the largest colonoscopy devices market share in 2022, and the same segment is anticipated to register the highest CAGR during 2022–2030. The colonoscopy can detect and remove malignant and pro-malignant lesions with high accuracy. It is a valuable diagnostic tool for colorectal cancer screening. Almost all national and international gastrointestinal and cancer societies advise using it as a first screening method.
The colonoscopy devices market, by end user, is segmented into hospitals, ambulatory surgery centers, and others. The hospital segment held the largest colonoscopy devices market share in 2022 and is anticipated to register the highest CAGR during 2022–2030, owing to the adoption of technological advancements in hospitals and the increasing number of screenings in hospital settings.
Regional Analysis:
The geographic scope of the colonoscopy devices market report includes North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. North America held the largest market share in 2022. The market growth in North America is driven by increasing burden of aging population, rising number of product launches, and R&D activities to develop advanced colonoscopy devices.
Colonoscopy Devices Market Report Scope
Competitive Landscape and Key Companies:
AMBU AS, Fujifilm, Endomed systems gmbh, Olympus, Steris PLC, GI View, Boston Scientific Corporation, PENTAX Medical, Avantis Medical Systems, and SonoScape Medical Corp are among the prominent companies profiled in the colonoscopy devices market report. These companies focus on developing new technologies, upgrading existing products, and expanding their geographic presence to meet the growing consumer demand worldwide. As per company press releases, below are a few recent key developments:
- In April 2021, FUJIFILM Medical Systems launched the G-EYE 700 Series Colonoscope. G-EYE, a technology developed by Smart Medical, assists 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.
- In October 2020, Olympus received 510(k) clearance and market availability of its two colonoscopes—PCF-H190T and PCF-HQ190. The products provided an addition to the present capabilities for physicians to diagnose and treat gastrointestinal tract disorders.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type, Application, End User, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The colonoscopy devices market majorly consists of players such as AMBU AS, Fujifilm, Endomed systems gmbh, Olympus, Steris PLC, GI View, Boston Scientific Corporation, PENTAX Medical, Avantis Medical Systems, and SonoScape Medical Corp among others.
US holds the largest market share in colonoscopy devices market due to the increasing public awareness of colon cancer through media campaigns initiated by cancer awareness groups and government agencies, and an aging population who are encouraged to have regular checkups. According to the American Cancer Society, an estimated 104,610 new colon cancer cases and 43,340 rectal cancer cases were diagnosed in the US in 2020.
The factors that are driving the growth of the market are the rising prevalence of colorectal cancer and increasing technological advancements in colonoscopy devices by manufacturers.
Asia Pacific is expected to be the fastest-growing region in the colonoscopy devices market. The colonoscopy devices market in the region is driven by factors such as an increasing number of R&D activities, adoption of innovative technology and products, and upsurging prevalence of chronic diseases in this region.
Colonoscopies are performed with reusable scopes. They are flexible, fiber-optic instruments that are introduced into the anus and directed through the colon. The colonoscopes helps endoscopists detect chronic illnesses and check patients for malignant or precancerous diseases. People aged 50 years and above should get colonoscopies as part of a regular cancer screening regimen. In hospitals or ambulatory surgery center (ASCs), the procedures are carried out under mild sedation.
The colonoscopy devices market, based on end user, is segmented hospitals, ambulatory surgery centers, and others. The hospital segment held the largest colonoscopy devices market share in 2022 and is anticipated to register the highest CAGR during 2022–2030.
The colonoscopy devices market, based on product type, is segmented into colonoscope visualization systems, and others. The colonoscope segment held the largest market share in 2022. However, the visualization systems segment is anticipated to register the highest CAGR during 2022– 2030.
The colonoscopy devices market, based on application, is segmented into colorectal cancer, lynch syndrome, ulcerative colitis, Crohn's disease, and other. The colorectal cancer segment held the largest colonoscopy devices market share in 2022, and the same segment is anticipated to register the highest CAGR during 2022–2030.
1. Introduction
1.1 Scope of the Study
1.2 Market Definition, Assumptions and Limitations
1.3 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness Analysis
3. Research Methodology
4. Colonoscopy Devices Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. Colonoscopy Devices Market - Key Market Dynamics
5.1 Key Market Drivers
5.2 Key Market Restraints
5.3 Key Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints
6. Colonoscopy Devices Market - Global Market Analysis
6.1 Colonoscopy Devices - Global Market Overview
6.2 Colonoscopy Devices - Global Market and Forecast to 2030
7. Colonoscopy Devices Market – Revenue Analysis (USD Million) – By Product Type, 2020-2030
7.1 Overview
7.2 Colonoscope
7.3 Visualization Systems
7.4 Others
8. Colonoscopy Devices Market – Revenue Analysis (USD Million) – By Application, 2020-2030
8.1 Overview
8.2 Colorectal Cancer
8.3 Lynch Syndrome
8.4 Ulcerative Colitis
8.5 Crohn’s Disease
8.6 Others
9. Colonoscopy Devices Market – Revenue Analysis (USD Million) – By End User, 2020-2030
9.1 Overview
9.2 Hospitals
9.3 Ambulatory Surgery Centers
9.4 Others
10. Colonoscopy Devices Market - Revenue Analysis (USD Million), 2020-2030 – Geographical Analysis
10.1 North America
10.1.1 North America Colonoscopy Devices Market Overview
10.1.2 North America Colonoscopy Devices Market Revenue and Forecasts to 2030
10.1.3 North America Colonoscopy Devices Market Revenue and Forecasts and Analysis - By Product Type
10.1.4 North America Colonoscopy Devices Market Revenue and Forecasts and Analysis - By Application
10.1.5 North America Colonoscopy Devices Market Revenue and Forecasts and Analysis - By End User
10.1.6 North America Colonoscopy Devices Market Revenue and Forecasts and Analysis - By Countries
10.1.6.1 United States Colonoscopy Devices Market
10.1.6.1.1 United States Colonoscopy Devices Market, by Product Type
10.1.6.1.2 United States Colonoscopy Devices Market, by Application
10.1.6.1.3 United States Colonoscopy Devices Market, by End User
10.1.6.2 Canada Colonoscopy Devices Market
10.1.6.2.1 Canada Colonoscopy Devices Market, by Product Type
10.1.6.2.2 Canada Colonoscopy Devices Market, by Application
10.1.6.2.3 Canada Colonoscopy Devices Market, by End User
10.1.6.3 Mexico Colonoscopy Devices Market
10.1.6.3.1 Mexico Colonoscopy Devices Market, by Product Type
10.1.6.3.2 Mexico Colonoscopy Devices Market, by Application
10.1.6.3.3 Mexico Colonoscopy Devices Market, by End User
Note - Similar analysis would be provided for below mentioned regions/countries
10.2 Europe
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 Spain
10.2.5 United Kingdom
10.2.6 Rest of Europe
10.3 Asia-Pacific
10.3.1 Australia
10.3.2 China
10.3.3 India
10.3.4 Japan
10.3.5 South Korea
10.3.6 Rest of Asia-Pacific
10.4 Middle East and Africa
10.4.1 South Africa
10.4.2 Saudi Arabia
10.4.3 U.A.E
10.4.4 Rest of Middle East and Africa
10.5 South and Central America
10.5.1 Brazil
10.5.2 Argentina
10.5.3 Rest of South and Central America
11. Industry Landscape
11.1 Mergers and Acquisitions
11.2 Agreements, Collaborations, Joint Ventures
11.3 New Product Launches
11.4 Expansions and Other Strategic Developments
12. Competitive Landscape
12.1 Heat Map Analysis by Key Players
12.2 Company Positioning and Concentration
13. Colonoscopy Devices Market - Key Company Profiles
13.1 Ambu AS
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
Note - Similar information would be provided for below list of companies
13.2 Boston Scientific Corp.
13.3 Endomed Systems GmbH
13.4 FUJIFILM Holdings Corp.
13.5 Consis Medical
13.6 GI-View
13.7 PENTAX Medical (HOYA Corp.)
13.8 KARLÂ STORZ SE and Co. KG
13.9 Olympus Corp.
13.10 SonoScape Medical Corp
14. Appendix
14.1 Glossary
14.2 About The Insight Partners
14.3 Market Intelligence Cloud
The List of Companies - Colonoscopy Devices Market
- AMBU AS
- Fujifilm
- Endomed systems gmbh
- Olympus
- Pentax
- GI View
- Boston Scientific Corporation
- Steris PLC
- Avantis Medical Systems
- SonoScape Medical Corp
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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