Dublin, May 08, 2024 (GLOBE NEWSWIRE) -- The "Colonoscopy Devices Market Size and Forecasts 2020-2030, Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Product Type, Application, End User, and Geography" report has been added to ResearchAndMarkets.com's offering.
This research has revealed a significant growth trajectory, with a projected valuation of USD 3.16 billion by the year 2030. This expansion reflects a robust compound annual growth rate (CAGR) of 5.2% during the forecast period from 2022 to 2030. A key factor driving this growth is the heightened awareness related to colorectal cancer prevention and the importance of early detection.
Product Type and Technological Advancements
The market is segmented based on product type into colonoscope, visualization systems, and others. The colonoscope segment represents a major market share owing to its critical role in diagnostic procedures. Notably, the visualization systems segment is predicted to experience the highest CAGR, a trend spurred by the enhancement of video endoscopy technologies and increased demand for quality-assured procedures.
End-user Adoption Rates
Analyzed by end-user, hospitals remain the dominant segment for utilizing colonoscopy devices, which can be attributed to technological integration and a higher volume of screening processes. This segment is also expected to witness the most rapid growth throughout the forecast period, propelled by improvements in healthcare infrastructure, particularly in emerging economies, and concentrated efforts to improve patient outcomes.
Awareness Campaigns Fueling Market Growth
Colorectal Awareness Month and related public health initiatives have been instrumental in emphasizing the critical nature of early detection of colon disorders. Innovative campaigns, involving a mix of traditional and digital outreach, have significantly contributed to an increase in colonoscopy testing, thereby bolstering the market outlook. The study also discusses the effects of the COVID-19 pandemic, which has prompted a shift towards stool testing and virtual awareness strategies, accommodating the need for home-based screening options.
A selection of companies mentioned in this report includes, but is not limited to:
- AMBU AS
- Fujifilm
- Endomed systems GmbH
- Olympus
- Pentax
- GI View
- Boston Scientific Corporation
- Steris PLC
- Avantis Medical Systems
- SonoScape Medical Corp.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 150 |
| Forecast Period | 2022-2030 |
| Estimated Market Value (USD) in 2022 | $2.11 Billion |
| Forecasted Market Value (USD) by 2030 | $3.16 Billion |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/ujvdvo
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