Dublin, Aug. 28, 2024 (GLOBE NEWSWIRE) -- The "Colonoscopy Devices Market by Products, Application, End-User, Region and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The market for colonoscopy devices is anticipated to have grown to about US$ 2.84 billion by 2032 from US$ 1.81 billion in 2023, with a compound annual growth rate of 5.13% between 2024 and 2032.
Top Mergers in the Colonoscopy Device Market
1. Bristol Myers Squibb and Mirati Therapeutics merged in August 2023 and planned to convey adagrasib to patients as a second and third-line treatment for colorectal cancer. Adagrasib has proven CNS penetration and intracranial responses in patients with active and untreated mind metastases. They have a leading KRAS and KRAS enabling program concentrated on KRASG12D mutation implicated in pancreatic, NSCLC, and colorectal cancer. They also are operating on a SOS1 inhibitor in Phase 1 medical improvement with the ability for aggregate use with other retailers focused on the MAPK/RAS pathway, which include KRAZATI, to assist patients with high unmet medical needs.
Jan 2023, Akeda of Japan partnered with Hong Kong-based Hutchmed to acquire commercial rights for fruquintinib, a colorectal cancer drug, outdoor of China. Roche is presently assessing the efficacy of combining focused therapy (Cotellic) with immuno-oncologic marketers to deal with CRC.
In September 2022, Qiagen partnered with Neuron23 to expand NGS-based assessments in accomplice diagnostics. The collaboration more suitable its R&D sports and constructed a strong logo image, boosting ordinary sales.
In Dec 2022, Olympus Corp acquired Odin Vision, a London-based totally cloud-AI endoscopy firm with a strong portfolio of CAD solutions and a pipeline of cloud-enabled apps, for as much as GBP 66 Million.
In April 2021, the FDA granted de novo clearance to Medtronic's GI Genius intelligent endoscopy module. The module is the first AI-powered laptop-aided detection system for identifying colorectal polyps.
China's Colonoscopy Device Market
The upward thrust in colorectal cancers and gastrointestinal issues, in particular many of the aged in China, is using the demand for colonoscopy devices. Technological improvements like high definition imaging and virtual colonoscopy enhance visualization and prognosis, allowing healthcare carriers to detect abnormalities greater accurately. This leads to well-timed interventions and reduces the need for invasive surgical procedures. There's a growing emphasis on affected person consolation and safety, ensuing in the development of minimally invasive colonoscopy devices with capabilities like smaller scopes and ergonomic designs.
Manufacturers also are integrating robot-assisted technologies for more desirable precision and maneuverability, in addition fueling market increase in China. In Sept 2022, EndoScreener, a kind III national revolutionary scientific tool synthetic by using Wision A.I a business enterprise in Chengdu Hi-tech Industrial Development Zone (CDHT), become approved for registration with the aid of the National Medical Products Administration. This marked the legitimate launch of China's first AI-assisted diagnostic product for digestive endoscopy.
Global Colonoscopy Device Company Analysis
Several Prominent companies, which includes Boston Scientific Corporation, Fujifilm Holdings Corporation, Hoya Corporation, Medtronic P.C, Olympus Corporation, Stryker Corporation, Steris Corp., Merit Medical Systems Inc., and Getinge AB, dominate the global market for colonoscopy devices.
Colonoscopy Device Company News
In March 2024, FUJIFILM Healthcare Americas Corporation received clearance for CAD EYE, an AI detection system for endoscopic imaging. In actual-time, CAD EYE can stumble on colonic mucosal lesions together with polyps and adenomas for the duration of colonoscopy processes, permitting endoscopists to perceive and put off pre-cancerous lesions regardless of length, form, and colour.
Endostart, an Italian medical device corporation, got a clearance for its colonoscopy device, Endorail, in March 2024. Endorail makes use of a magnetic balloon gadget to make prolonged colonoscopies quicker and cheaper. This clearance means Endorail can now input the United States market.
In January 2024, AnX Robotica, a production corporation in the United States, obtained de novo clearance from the FDA for its AI-led endoscopy tool, the NaviCam ProScan.
Bausch Health Companies and Salix Pharmaceuticals have released findings from their first colonoscopy focus and angle survey, performed in partnership with The Harris Poll. The survey changed into conducted to offer patient perspectives on colonoscopies and the instruction process. The survey findings have been launched in March 2024 for Colorectal Cancer Awareness Month.
MAGENTIQ-COLOT obtained FDA approval in July 2023. This superior A.I. Device helps stumble on gastrointestinal lesions in real time throughout colonoscopy processes.
In November 2023, the FDA authorized Takeda's FRUZAQLA, an oral centered therapy for grownup metastatic colorectal cancer. This chemotherapy-free option improves survival without affecting the patient's quality of life.
Aug 2023, LONSURF (trifluridine/tipiracil) has been authorized with the aid of the FDA to treat metastatic colorectal cancer in patients as a single agent or in combination with Bevacizumab.
Enzene Biosciences released Bevacizumab, a biosimilar drug and more low-cost alternative to Avastin for treating metastatic colorectal cancers. This new drug launch befell in June 2023.
In August 2022, India Medtronic Private Limited introduced the release of the G.I. Genius shrewd endoscopy module. This module is a computer-aided polyp detection machine powered by way of artificial intelligence (AI) designed to locate and diagnose polyps during endoscopic techniques.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 110 |
| Forecast Period | 2023-2032 |
| Estimated Market Value (USD) in 2023 | $1.81 Billion |
| Forecasted Market Value (USD) by 2032 | $2.8 Billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
Key Topics Covered
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global Colonoscopy Device Market
6. Market Share - Global Colonoscopy Device Analysis
6.1 By Products
6.2 By Application
6.3 By End User
6.4 By Countries
7. Products - Global Colonoscopy Device Market
7.1 Colonoscope
7.2 Visualization system
7.3 Other
8. Application - Global Colonoscopy Device Market
8.1 Colorectal Cancer
8.2 Ulcerative Colitis
8.3 Crohn's Disease
8.4 Others
9. End User - Global Colonoscopy Device Market
9.1 Hospitals
9.2 Clinics & Ambulatory surgical centers
9.3 Others
10. Countries - Global Colonoscopy Device Market
10.1 North America
10.1.1 United States
10.1.2 Canada
10.2 Europe
10.2.1 France
10.2.2 Germany
10.2.3 Italy
10.2.4 Spain
10.2.5 United Kingdom
10.2.6 Belgium
10.2.7 Netherlands
10.2.8 Turkey
10.3 Asia Pacific
10.3.1 China
10.3.2 Japan
10.3.3 India
10.3.4 South Korea
10.3.5 Thailand
10.3.6 Malaysia
10.3.7 Indonesia
10.3.8 Australia
10.3.9 New Zealand
10.4 Latin America
10.4.1 Brazil
10.4.2 Mexico
10.4.3 Argentina
10.5 Middle East & Africa
10.5.1 Saudi Arabia
10.5.2 United Arab Emirates
10.5.3 South Africa
11. Porter's Five Forces Analysis - Global Colonoscopy Device Market
11.1 Bargaining Power of Buyers
11.2 Bargaining Power of Suppliers
11.3 Degree of Competition
11.4 Threat of New Entrants
11.5 Threat of Substitutes
12. SWOT Analysis - Global Colonoscopy Device Market
12.1 Strength
12.2 Weakness
12.3 Opportunity
12.4 Threats
13. Key Players Analysis
13.1 Boston Scientific Corporation
13.2 Fujifilm Holdings Corporation
13.3 Hoya Corporation
13.4 Medtronic plc
13.5 Olympus Corporation
13.6 Stryker Corporation
13.7 Steris Corp.
13.8 Merit Medical Systems Inc.
13.9 Getinge AB
For more information about this report visit https://www.researchandmarkets.com/r/7hmtvf
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