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2023

Colonoscope Market

Colonoscope Market Size, Share, Competitive Landscape and Trend Analysis Report by Application (Colorectal Cancer, Ulcerative Colitis, Crohns Disease, Others), by End User (Hospitals, Ambulatory Surgery Centers, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

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Author's: Prathmesh Bhasme| Avinash Gadekar | Roshan Deshmukh
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Colonoscope Market Research, 2031

The global colonoscope market was valued at $1.2 billion in 2021, and is projected to reach $2.5 billion by 2031, growing at a CAGR of 7.6% from 2022 to 2031. Colonoscope is the main tool of basic colonoscopic examination. It has greater length and diameter unlike gastroscope as it is used in cases where cecal intubation is difficult due to extensive stricture and curvature of the colon. It consists of the control section, an instrument channel that has forceps, snare, injector, and clip device, a shaft to be inserted into the patient, the tip, a connection section, and the line. Some models also have a lever for variable stiffness. The colonoscope is used in the procedure of colonoscopy. It allows for greater diagnostic specificity and sensitivity compared with other types of examinations, such as the stool occult blood test, barium enema, and computed tomography colonography.

Colonoscope Market

Market dynamics 

Growth & innovations in the medical devices industry for the adoption of colonoscope devices for the procedures of colonoscopy is driven by the massive pool of chronic diseases related to the colon like colon cancer and ulcerative colitis. The rise in the number of patients with various diseases creates an opportunity for the Colonoscope Industry. Moreover, a rise in the number of strategies adopted by the market players like product launches, product approval, agreements, partnerships, and collaborations across the globe is projected to affect market growth of Colonoscope Market Size positively. For instance, in October 2019, Medtronic plc announced the launch of GI Genius intelligent endoscopy module at UEG Week in Barcelona, Spain. The GI Genius module is the first system worldwide to use artificial intelligence to detect colorectal polyps. It provides physicians with a powerful new solution in the fight against colorectal cancer. The demand for colonoscopes is not only limited to developed countries but is also being witnessed in developing countries, such as China, Brazil, and India, which fuel the growth of the Colonoscope Market Size. Factors such as a rise in the number of diagnostic procedures performed and an increase in awareness of the benefits of colonoscopes for detection of the diseases further drive the growth of the Colonoscope Industry. Furthermore, a rise in awareness related to advanced device options boosts the adoption of colonoscopy. In addition, an increase in research activities by manufacturers for developing advanced devices in diagnostic procedures is expected to fuel their adoption in the near future. However, the risks associated with colonoscopy procedures in healthcare organizations are hampering the Colonoscope Market Growth. 

The colonoscopes market is segmented based on application, end user and region. On the basis of application, the market is divided into colorectal cancer lynch syndrome, ulcerative colitis, Crohn’s disease, polyps or colorectal cancer, and others. On the basis of end user, the market is categorized into hospitals, clinics, ambulatory surgery centers, and others. Region wise, the market is studied across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and the Rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).  

By Application, the market is divided into colorectal cancer lynch syndrome, ulcerative colitis, Crohn's disease, polyps or colorectal cancer and others. The Others segment dominated the global Colonoscope Market Share in 2021 and is anticipated to continue this trend during the Colonoscope Market Forecast period. This is attributed to the increase in the adoption of colonoscopes for colon disease. In addition, the device used in diagnosis also are undergoing various developments which helps boosts the demand for the device.

Colonoscope Market by Application

By End User, the market is classified as hospitals, clinics, ambulatory surgery centers and others. The hospitals segment held the largest Colonoscope Market Share in 2021 and is expected to remain dominant throughout the forecast period, owing to increase in the preference of adoption of colonoscope in hospitals, ease of the accessibility of the patients to the hospitals and surge in the number of hospital admissions of the patients.  

Colonoscope Market by End User

By Region, the colonoscope market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2021, North America was the dominant region and is expected to remain dominant throughout the forecast period, owing to high prevalence rate of chronic disorders like colon cancer and ulcerative colitis, increase in number of market players and surge in number of devices available in the region. However, Asia-Pacific is expected to witness the highest CAGR during the analysis period, owing to the presence of high populace countries such as India and China, which in turn increases the number of chances of suffering from various types of chronic and fatal conditions, and the increasing number of strategies and trends adopted by the market players that include the product development, product approval, partnership, collaboration, and agreement. 

Colonoscope Market by Region

COMPETITION ANALYSIS 

Competitive analysis and profiles of the major players in the colonoscope, such as Olympus Corporation, Stryker Corporation, FUJIFILM Holdings Corporation, Medtronic Plc, Boston Scientific Corporation, PENTAX Medical, Endomed System, Sonoscape Medical Corporation, Ambu A/S, Endofresh are provided in this report. There are some important players in the market such as Olympus Corporation, Stryker Corporation, FUJIFILM Holdings Corporation, Medtronic Plc and Boston Scientific Corporation. Various players have adopted strategies like product launch and product development as key developmental strategies to improve the product portfolio of the colonoscope market.   

Product Launch in the market 

  • In April 2021, FUJIFILM Medical Systems U.S.A., Inc. announced the launch of the G-EYE 700 Series Colonoscope. G-EYE is a technology developed by Smart Medical to assist with visualization, stabilization and control during routine examinations. In published clinical studies G-EYE has been shown to improve polyp detection when compared to standard colonoscopy.  
  • In October 2020, Olympus announced today the 510(k) clearance and market availability of two colonoscopes, the PCF-H190T and the PCF-HQ190. The products provide an extension to the existing capabilities for physicians to diagnose and treat disorders of the gastrointestinal tract. The new PCF-H190TL/I endoscope is a slim, short-bending scope that allows for tighter angulation without compromise to the passage of treatment accessories. The new PCF-HQ190L/I is equipped with Dual Focus technology for increased mucosal visualization. 

Agreements in the market  

  • In December 2022, Olympus Corporation (Olympus) today announced it has signed a definitive agreement to acquire London-based Odin Vision, a cloud-AI endoscopy company with a strong portfolio of commercially available computer-aided detection/diagnostic (CAD) solutions and a deep innovation pipeline of cloud-enabled applications. Odin Vision aimed to create a paradigm shift in the way artificial intelligence is integrated into the endoscopy suite to support clinical procedures such as colonoscopy and esophagogastroduodenoscopy with their innovative cloud-AI platform. 
  • In August 2020, Olympus Corporation today announced it has signed a definitive agreement to acquire Arc Medical Design Limited (Arc Medical Design), a subsidiary of Norgine B.V. The acquisition underscores Olympus’ commitment to expanding its offering in gastrointestinal therapeutic devices and the development of advanced colonoscopy tools through mergers and acquisitions (M&A) opportunities as well as through research and development (R&D) with the overarching goal of improving early detection and treatment of colorectal cancer (CRC). 

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the colonoscope market analysis from 2021 to 2031 to identify the prevailing Colonoscope Market Opportunity.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the colonoscope market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global colonoscope market trends, key players, market segments, application areas, and market growth strategies.

Colonoscope Market Report Highlights

Aspects Details
Market Size By 2031
Market Size By 2031

USD 2.5 billion

Growth Rate
Growth Rate

CAGR of 7.6%

Forecast period
Forecast period

2021 - 2031

Report Pages
Report Pages

220

Colonoscope Market By Application
By Application
  • Colorectal Cancer
  • Ulcerative Colitis
  • Crohns Disease
  • Others
Colonoscope Market By End User
By End User
  • Hospitals
  • Ambulatory Surgery Centers
  • Others
Colonoscope Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players
Key Market Players

Sonoscape Medical Corp., Endomed Systems, Boston Scientific Corporation, Ambu A/S, Stryker Corporation, Endofresh, Pentax Medical, Olympus Corporation, Fujifilm Holdings, Medtronic plc

Analyst Review

In accordance with several interviews conducted, variable-stiffness colonoscopes may improve cecal intubation rates while causing less discomfort to the patient and requiring less sedation. The modern colonoscope is a flexible instrument with a light and lens at its tip for visualization. It has a four-way tip deflection and is typically 160–170 cm long. Control cables run the length of the shaft and are manipulated using two dials at the head of the instrument. Colonoscopes have two buttons near the control dials. When depressed, one button results in the suction of colonic contents through the colonoscope and into a waste canister. The endoscopist insufflates the colon by covering a small hole in the center of the second button. 

Asia-Pacific is expected to witness the highest CAGR during the analysis period, owing to the increase in the research and development expenditure for the development of innovative and advanced colonoscopes that increases the demand for the colonoscopy procedure with packed with enhanced benefits, increase in awareness about the colonoscopy, surge in government support for diagnostic procedures among the population and other related trends adopted by the market players. 

Author Name(s) : Prathmesh Bhasme| Avinash Gadekar | Roshan Deshmukh
Frequently Asked Questions?

The total market value of the Colonoscope Market is $1184.35 million in 2021.

The forecast period in the report is from 2022 to 2031.

North America is the largest regional market for Colonoscope

The increase in the prevalence of colon disorders, the presence of key players, and high population base.

The top companies that hold the market share in the Colonoscope Market are Olympus Corporation, Stryker Corporation, FUJIFILM Holdings Corporation, Medtronic Plc, Boston Scientific Corporation, PENTAX Medical, Endomed System, Sonoscape Medical Corporation, Ambu A/S, and Endofresh

The base year for the report is 2021.

There are 10 Colonoscope manufacturing companies are profiled in the report

The key trends in the Colonoscope Market are the increasing prevalence of Crohns disease, the rising incidence of colon cancer, and a surge in technological advancement in Colonoscope.

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Colonoscope Market

Global Opportunity Analysis and Industry Forecast, 2021-2031