Latest News- Colonoscopy Devices Market: Colonoscope is expected to lead the Product segment during 2025-2029

The Colonoscopy Devices Market is being driven by Rising incidence of colorectal cancer

The Colonoscopy Devices Market is expected to grow at a CAGR of 5.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 789.6 million. The colonoscopy devices market is experiencing a transformation through the integration of artificial intelligence (AI) technology. AI-enabled systems are revolutionizing colorectal screenings by improving precision, speed, and consistency. These advanced tools assist endoscopists during procedures, providing real-time identification of abnormalities like polyps and adenomas. Utilizing complex algorithms trained on extensive clinical data, these AI systems offer enhanced diagnostic accuracy and reduced variability between operators. Notably, on March 21, 2023, Medtronic announced a strategic collaboration with NVIDIA to further develop its GI Genius intelligent endoscopy module, marking a significant milestone as the first FDA-cleared AI-assisted colonoscopy system. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Colonoscope
  • Visualization system
  • Others
• Application
  • Colorectal cancer
  • Lynch syndrome
  • Ulcerative colitis
  • Crohn disease
  • Others
• End-user
  • Hospitals
  • Specialty clinics
  • Ambulatory surgical centers
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • Asia
    • China
    • India
    • Japan
    • South Korea
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising incidence of colorectal cancer
• Growing geriatric population
• Increased awareness and implementation of structured screening programs

However, the market also witnesses some limitations, which are as follows:

• Risk of complications associated with colonoscopy procedures
• Shortage of healthcare professionals
• Stringent regulatory approval

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Market Scope in Colonoscopy Devices Market Research Report

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Research Analysis Overview

The Colonoscopy Devices Market encompasses various technologies including Capsule Endoscopy, Virtual Colonoscopy (CT Colonography), Optical Coherence Tomography, Confocal Laser Endomicroscopy, Fluorescence Endoscopy, Robotic Endoscopy, Wireless Endoscopy, Miniature Endoscopes, Endoscopic Surgery, and Minimally Invasive Surgery. These advanced devices are used for diagnosing Colorectal Cancer, Rectal Diseases, and Intestinal Disorders through diagnostic procedures like GI bleeding. Healthcare providers utilize Flexible Tubes with different Visualization Angles for these procedures. Training Simulators and Simulation Technology are essential for Professional Development and Endoscope Design. Cost Analysis, Market Access, Insurance Coverage, Healthcare Economics, Supply Chain Management, and Distribution Channels are crucial aspects of this industry. Surgical Procedures are performed in Ambulatory Surgery Centers using these Minimally Invasive Procedures.

Market Research Overview

The Colonoscopy Devices Market is a significant segment of the global healthcare equipment industry, encompassing flexible endoscopes, rigid endoscopes, video endoscopes, high-definition endoscopes, endoscope insertion tubes, biopsy forceps, polypectomy snares, and endoscopic clips. Technavio, a leading global technology research and advisory company, positions this market within the broader healthcare equipment sector. The healthcare equipment market, in turn, is characterized by manufacturers of capital equipment, instruments, implants, accessories, and consumables used for disease diagnosis, monitoring, and treatment. Technavio calculates the market size by aggregating the revenues of these manufacturers across various therapy areas. Key colonoscopy devices include advanced, differentiated, and clinically tested solutions such as flexible and rigid endoscopes, video endoscopes, high-definition endoscopes, endoscope insertion tubes, biopsy forceps, polypectomy snares, and endoscopic clips.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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