North America Colonoscopes Market
Colonoscopes are used for the removal of foreign bodies, excision of tumors or colorectal polyps (polypectomy), and control of hemorrhage. Routine colonoscopy is important in diagnosing intestinal cancer, the second leading cause of cancer deaths in the United States. These endoscopic procedures reduce the need for invasive surgical diagnostic and therapeutic procedures.
Strategic insights for the North America Colonoscopes provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 516.92 Million |
| Market Size by 2028 | US$ 719.03 Million |
| Global CAGR (2021 - 2028) | 4.8% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Colonoscopes refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The North America colonoscopes market is expected to reach US$ 719.03 million by 2028 from US$ 516.92 million in 2021; it is estimated to grow at a CAGR of 4.8% from 2021 to 2028. A few factors such as the increasing prevalence of colorectal cancer, growing research activities to extend its applications in therapeutic areas, technological advancements in colonoscopy devices, and development of robotic colonoscopes drive the market growth in the region. However, the availability of alternative diagnostic tests for rectal diseases hampers the growth of the market.
Colorectal cancer is a malignant tumor that develops in the tissues of colon or rectum. Colon and rectal cancer are often grouped due to common features of both conditions. Colorectal cancer is the third most common cancer type (excluding skin cancer) diagnosed every year in the US. In 2021, 149,500 adults are estimated to be diagnosed with colorectal cancer in the country. The incidence of this cancer type has been rising in young people since the mid-1990s. Among men and women of age 30–39 in the US, colorectal cancer is estimated to be the fourth most diagnosed cancer. It is estimated to cause 52,980 deaths (28,520 men and 24,460 women) in 2021. Furthermore, it is the second leading cause of cancer death in the country, among men and women combined, while it stands as the third leading cause of cancer death when men and women are considered separately. Such a high prevalence makes it the second most frequently occurring cancer, after breast cancer, and the second leading cause of death, after lung cancer. In ideal situations, where the cancer is diagnosed in early stages, doctors can remove the tumor via surgical procedures. A colonoscopy is an important screening test for colorectal cancer, and it has become a part of routine cancer screening. The annual count of adults getting screened for cancer surged by 3.3 million in the US during 2014–2016, which is considered a prime factor associated with a 30% decrease in colon cancer mortality rate in people older than 50 in the past decade. In its updated screening guidelines released in 2018, the American Cancer Society quoted colonoscopies as the gold standard for detecting cancers and precancerous polyps in the colon. In addition, studies suggest that colonoscopy can help reduce colorectal cancer incidence by ~40% and mortality by ~50%, which indicates a promising future for the North America colonoscopy devices market growth. Also, to significantly reduce the adenoma “miss rate” of standard forward-viewing colonoscopy, manufacturers across globe are continuously striving to improve the current colonoscopy techniques, by exploring more advanced optics and wider-angle visualization tools along with a user-friendly, intuitive endoscopic platform interface. The introduction of such technologies is fuelling the colonoscope market growth.
In North America, the US was heavily impacted by the COVID-19 pandemic. Due to the spread of the novel coronavirus, many cities were closed, resulting in treatments and cancellationsof various surgeries. During the initial phase of the COVID-19 outbreak in 2019, healthcare systems in the US quickly adapted to reduce disease transmission and reserve hospital beds for the infected. Although elective and non-urgent procedures were initially required to be delayed, prolonged delays or cancellations could lead to other public health crises due to the rising incidence of preventable and chronic diseases. The COVID-19 pandemic has resulted in several changes in gastroenterological practice, both directly and in response to recommendations from professional societies. The technology platform and healthcare modeling data showed an initial 90% decrease in colonoscopies and biopsies year over year; an estimated 1.7 million missed colonoscopies. Also, it estimated that an additional 4,500 deaths could be due to colon cancer alone over the next decade due to COVID-19-related delays. As a result, the COVID-19 pandemic has had a negative impact on the colonoscopes market growth.
The North America colonoscopes market, by product type, is bifurcated into fiber optic colonoscopy devices and video colonoscopy devices. The fiber optic colonoscopy devices segment held a larger share of the market in 2021, and the same segment is anticipated to register a higher CAGR in the market during the forecast period.
The North America colonoscopes market, based on application, is segmented into colorectal cancer, lynch syndrome, ulcerative colitis, crohn’s disease, and polyp. In 2021, the colorectal cancer segment held the largest share of the market. Also, the market for the same segment is expected to grow at the fastest rate in the coming years.
The North America colonoscopes market, based on end user, is segmented into hospitals, ambulatory surgery center, and others. In 2021, the hospitals segment held the largest share of the market. Further, the market for the same segment is expected to grow at the fastest rate in the coming years.
A few of the primary and secondary sources referred to while preparing the report on the North America colonoscopes market are the American Association for Thoracic Surgery (AATS), Canadian Association of Gastroenterology (CAG), and International Agency for Research on Cancer (IARC).
The North America Colonoscopes Market is valued at US$ 516.92 Million in 2021, it is projected to reach US$ 719.03 Million by 2028.
As per our report North America Colonoscopes Market, the market size is valued at US$ 516.92 Million in 2021, projecting it to reach US$ 719.03 Million by 2028. This translates to a CAGR of approximately 4.8% during the forecast period.
The North America Colonoscopes Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Colonoscopes Market report:
The North America Colonoscopes Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Colonoscopes Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Colonoscopes Market value chain can benefit from the information contained in a comprehensive market report.
Office No. 1011, First floor, Farena Corporate Park, Magarpatta-Mundhwa road, Pune - 411028, Maharashtra, India
US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For North America Colonoscopes Market
