Colonoscopy Market Size Worth USD 49.24 Billion in 2030
The global colonoscopy market size reached USD 30.57 Billion in 2021 and is expected to register a revenue CAGR of 5.4% during the forecast period, according to latest analysis by Emergen Research. Increase in the prevalence of colorectal cancer and increasing popularity of minimally invasive techniques are primary factors driving the revenue growth of the colonoscopy market. A colonoscopy is a minimally invasive screening that finds early cancer indications to stop it from spreading. A tiny camera is inserted into the rectum during a colonoscopy in order to view the interior of the large intestine. It can be tempting to put off arranging the screening as most people experience anxiety at the notion of having a colonoscopy. However, the surgery is rather quick and painless, and it can even save lives.
Integrating Artificial Intelligence (AI) in colonoscopies to detect polyps is a recent trend in the market. For instance, to find colon cancer earlier, HCA Florida Largo Hospital is taking part in a new trial. In the study, polyp detection during a colonoscopy is mostly accomplished by utilizing artificial intelligence. The FujiFilm technology is known as CAD EYE. During a colonoscopy, doctors use the same scope, and patients will not detect a difference. Millions of polyps are intended to be detected by the machine.
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Some Key Highlights From the Report
- The colonoscope visualization systems segment accounted for the largest revenue share in 2021. During a colonoscopy, a lengthy, flexible tube known as a colonoscope is inserted into the rectum. A tiny video camera at the tip of the tube allows the doctor to see the whole interior of the colon. Through the scope, polyps or other types of abnormal tissue can be removed during a colonoscopy. Tissue samples (biopsies) can also be obtained during a colonoscopy. Investigating intestinal signs and symptoms is one used for colonoscope visualization equipment. With the use of these systems, a doctor can look into the potential causes of digestive problems such as stomach pain, rectal bleeding, recurrent diarrhea, and others. They are also employed for colon cancer screening.
- The polyps or colorectal cancer segment accounted for the largest revenue share in 2021. A colon polyp is a small cell cluster that forms on the lining of the colon. Most of the time, colon polyps are harmless. However, some colon polyps can develop into colon cancer over time, which can be fatal if caught in an advanced stage. Regular screening tests, such as colonoscopies, are essential since colon polyps are typically completely and safely removed when found in the early stages. The best way to prevent colon cancer is to regularly find and remove polyps. Colorectal cancer, often known as bowel cancer or colon cancer, is the third most prevalent cancer in the world. It comes up at number two among female cancers and number three among male cancers. About 1.9 million brand-new cases of colorectal cancer will be diagnosed in 2020.
- The ambulatory surgery centers segment accounted for the largest revenue share in 2021. Revenue growth for this market segment is expected to be driven by an increase in colonoscopy procedures. In only the United States alone, more than 15 million colonoscopies are performed annually. Instead of hospitals, ambulatory surgery centers do the majority of colonoscopies. They provide the same level of safety for surgery as hospitals, according to a study. An overnight stay is not necessary for procedures performed in ambulatory surgical facilities. They are not connected to any hospitals. Ambulatory surgery centers are small locations where patients can receive straightforward, minimally invasive surgical and diagnostic procedures. Surgery can seem obtrusive and terrifying, however, many of the treatments can be done in a standalone facility and are just minimally invasive.
- North America accounted for the largest revenue share in 2021 attributed to the increasing prevalence of colorectal cancer in countries in this region. For instance, colorectal cancer is the third most common cancer in both men and women in the United States. 10.5% of new cases of colorectal cancer are believed to be diagnosed in those under 50, despite the fact that it is normally diagnosed in people over 50. The incidence of colorectal cancer has increased by about 15% in adults between the ages of 40 and 49 during the previous 20 years. Therefore, the rising incidence of colorectal cancer in the region's countries is expected to drive market revenue growth.
- On 17 November 2021, Wision AI, a Shanghai-based company, obtained the CE certification for their AI-enabled polyp detection software used during colonoscopies. EndoScreener, according to the start-up, is a real-time computer-aided diagnosis tool that aids endoscopists by simultaneously alerting them and sounding a warning when a polyp is found during a colonoscopy. According to a study, six randomized controlled trials involving more than 5,000 patients showed that the software device significantly enhanced the diagnosis of adenoma, a form of benign tumor. It was also reported to have reduced precancerous lesions, such as adenoma and sessile serrate lesion, in a clinical trial done at four US medical institutes.
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Some major companies in the Colonoscopy Market Report Olympus Corporation
- Stryker
- ESS Medical
- Absolute Medical
- Medical Recovery Company Inc.
- PENTAX Medical
- Pro Scope Systems
- Endo Technologies
- Med Wrench LLC.
- FUJIFILM Holdings Corporation
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Emergen Research has segmented the global colonoscopy market on the basis of product type, application, end-use, and region:
- Product Type Outlook (Revenue, USD Billion; 2019-2030)
- Colonoscope Visualization Systems
- Others
- Application Outlook (Revenue, USD Billion; 2019-2030)
- Colorectal Cancer Lynch Syndrome
- Ulcerative Colitis
- Crohn’s Disease
- Polyps or Colorectal Cancer
- Others
- End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Hospitals
- Clinics
- Ambulatory Surgery Centers
- Others
- Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
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