Colonoscope Market: Global Opportunity Analysis and Industry Forecast 2020–2027
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Sep 2020 |
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COVID-19
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Colonoscope Market: Global Opportunity Analysis and Industry Forecast 2020–2027
Request Now !Colonoscopy is a medical procedure performed by physician to inspect your colon and rectum for any abnormalities like inflammation, ulcers, polyps, bleeding and tumor. A Colonoscope is the tool used to perform a colonoscopy. It is a narrow, pliable tube with a video camera and light on the end. It is inserted through the anus into the rectum and is reached up the colon, all the way to the cecum. Colonoscope is usually used to enter the very end of the small bowel. The video camera at the tip of the colonoscope sends the real-time images to a computer screen so that the doctor can examine the colon. It also has a light, a channel for water irrigation, a channel for air and water as well as an instrument channel.
Colonoscopy is a routine procedure; it is usually done to perform screening for colon cancer and other problems like inspecting for cancer, fluctuations in bowel habits, find out the reason behind bleeding in the abdominal area and diarrhea.
They are two basic types of colonoscopies: Fiber optic and video colonoscopies.
Market scope and structure analysis:
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Report Metric |
Details |
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Market size available for years |
2019-2027 |
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Base year considered |
2019 |
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Forecast period |
2020–2027 |
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Forecast units |
Value (USD) |
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Segments covered |
Product Type, Technology, End User, and Region |
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Regions covered |
North America (U.S. and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM) and The Middle East and Africa. |
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Companies covered |
Major players analyzed include Olympus Corporation, Stryker Corporation, ESS, Absolute Medical Services, Medical Recovery Company, PENTAX Medical, Pro Scope Systems, Endo Technologies, MedWrench, FUJIFILM Holdings America Corporation. |
COVID-19 scenario analysis:
To take care of infected population the demand for medical supplies is increasing. Respiratory support devices such as atomizer, life-support machine, oxygen generator, and monitor are among the majorly used medical devices in primary clinical treatment. Moreover, COVID-19 has led to a huge surge in demand for medical supplies such as personal protective equipment including masks, gloves, and protective eyeglasses. With rise in number of COVID-19 cases worldwide, the need for medical supplies keeps on rising among, both from healthcare professionals and civil population for precautionary measures. Manufacturers of these products have a chance to capitalize this increased demand of medical supplies to ensure adequate and continuous supply of personal protective equipment in the colonoscope market.
Owing to such factors, COVID-19 is expected to have significant impact on the colonoscope market.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis:
Increase in the number of colon cancers and evolution in the techniques to diagnose cancer or to detect any abnormalities of the colon are the primary factors responsible for the growth of the colonoscopy market. Also, increase in the guidelines by various healthcare facilities and the growing awareness about the effect of disorder of the colon are the factors favoring the growth of the colonoscope Market. Along with this increase in the number of colorectal cancer, and trust of population towards minimally invasive techniques are helping boost up the growth of colonoscopy market. Additionally, we are also observing a trend in the market showcasing the dominance of disposable colonoscopies, which will increase the demand for new colonoscopes.
On the other hand, alternate treatments for these diseases and the risks involved during the colonoscopy procedures may hamper the demand for colonoscopy devices. Moreover, we also observe lack of physicians and expertise in this field are effecting the growth negatively.
New product launches to flourish the market:
Olympus Corporation recently launched a new product, EVIS X1 on April 23rd, 2020 which is said to be the most advanced endoscopy system till date. EVIS X1 is said to detect, characterize and treat various gastrointestinal diseases and colorectal cancer or other bronchial diseases.
New products have been introduced with technologically advanced systems such as i10 Series Video Colonoscopies and Kp Series Video Colonoscopies by PENTAX Medicals.
I10 colonoscopes include a second generation HD+ MP resolution, while KP series endoscopes high resolution digital imaging with accurate colors.
Surge in usage in hospital applications
Colonoscopes are used in various healthcare facilities like hospitals, Ambulatory surgery centers, clinics, etc. According to Lancet, about 1.8 Million surgeries are performed every year for colonoscopy patients. According to New York Times, 95% of cancers and large polyps with colonoscopy. World Cancer Research Fund has stated that Hungary had highest rate of colorectal cancer in the world. This shows that the hospitals are the biggest end-users for colonoscopes in our market.
Various Health care providers are also trying to increase their capacity for patients which will lead to an increase in demand for colonoscopes.
Key segments covered:
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Key benefits of the report:
- This study presents the analytical depiction of the global colonoscope industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global colonoscope market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global colonoscope market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Colonoscope Market research report:
- What are the leading market players active in the colonoscope market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the colonoscope market?
- What are the projections for the future that would help in taking further strategic steps?
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