The growth in the colonoscopy devices market is primarily driven by a growing preference for minimally invasive treatments, advances in technology, and a rising incidence of colorectal cancer. To be clear, the causes of colorectal cancer are unknown.
However, certain genetic and environmental factors may heighten the likelihood of developing this condition According to a research article by the American Cancer Society, in March 2023, approximately 153,020 people were anticipated to be diagnosed with colorectal cancer. Additionally, 52,550 people were expected to die from colorectal cancer in the U.S. in 2023.
It also noted that there were projected to be 106,970 new cases of colon cancer and 46,050 new diagnoses of rectal cancer in the U.S. in 2023. Factors such as new favorable pipeline launches, the advent of these therapies as front-line treatments, and good government initiatives are likely to promote market growth.
Implementing different strategies within the market is also likely to enhance market growth. In July 2022, for example, US Digestive Health ('USDH'), a national GI practice network provider, reported it will offer patients AI-assisted colonoscopy screenings using the most extensive installation of GI Genius intelligent endoscopy modules in the country.
For years, colonoscopy has been regarded as the gold standard for finding polyps that will eventually become colorectal cancer. Now, patients at USDH have the option for AI-assisted screening utilizing GI Genius. The Food and Drug Administration (FDA) has cleared the device with AI technology for the purpose of assisting physicians in detecting polyps.
The global colonoscopies market is projected to grow due to the increasing incidence of colorectal cancer during the forecast period. For instance, in May 2022, the Guardant Health, Inc. introduced Shield, its first blood-based screening test for detecting early-stage colorectal cancer, targeting adults over the age of 45 who are at average risk of colorectal cancer and have no symptoms and are not adhering to the screening guidelines.
An increasing demand for colorectal cancer (CRC) screening tests is also fueling the growth of the colonoscopies market. Colorectal cancer is one of the most common cancers in the world, and early detection is key to reducing mortality.
Increased access to screening tests due to government-sponsored initiatives, improved screening technology, and increasing awareness of the benefits of early detection have led to an increase in the percentage of individuals screened. This increase in routine screening will help generate demand for advanced diagnostic devices and laboratory services, as well as innovative screening methods.
Advances in colonoscope technologies boost growth in the global colonoscopes market. They promote accuracy, comfort, and efficiency in neonatal colonoscopy. In recent years, changes to equipment and technology have resulted in a more carefully engineered colonoscopy that is more accurate, less invasive, and increasingly reliable, leading to improved utilization by healthcare practitioners and greater acceptance by patients.
One of the most important advancements has been the introduction of high-definition (HD), and ultra-HD colonoscopes. These instruments provide clearer, enhanced imaging of the internal lining of the colon. This improvement provides a clearer view of polyps or lesions, and enhances practice in the early detection of colorectal cancer and other GI conditions.
Better resolution of images means the chance of a missed diagnosis in others is also diminished. As maintaining missed diagnosis is important in screening the patient post procedure for future rates of colon cancer, clinical confidence may increase leading to the expansion of hemicasping in hospitals and other diagnostic centers.
Narrow-band imaging (NBI) and chromoendoscopy are other advancements that have improved the diagnostic capability of the newer colon scopes. These types of imaging improve mucosal contrast, which improves the ability of physicians to distinguish benign from malignant tissue. These technologies improve the specificity and sensitivity of colonoscopy, thus, assisting in the movement towards a practice of precision medicine and precision intervention.
Robotic and AI assisted colonoscopes are changing the market as well. AI powered systems are now able to help with the colonoscopic detection of polyps during real time endoscopic procedures to mitigate human error and variability in diagnostic outcomes.
These benefits also serve to improve workflow, reduce physician fatigue and optimize time use during procedures, especially relevant in a high-volume clinical setting. Similarly, robotic colonoscopes often provide additional control and organization, especially in complex or tortuous anatomy which can improve patient comfort and improve the effective reach for the scope.
The segment of video colonoscopes held the largest revenue share at 79.0% in 2024. One of the driving factors to the strength of video colonoscopes is their high-definition imaging capabilities. Quality imaging improves diagnostic capabilities by enabling early intervention (if necessary), which is important as colorectal cancer is one of the leading causes of cancer deaths around the world.
In addition, the development and evolution of video colonoscopes have led to the advent of additional features such as narrow-band imaging (NBI) and chromoendoscopy, which assist with differentiating between benign and malignant lesions to better assess during procedures.
The addition of artificial intelligence-powered diagnostics has improved capabilities to allow clinicians to see subtle abnormalities that may otherwise be missed in manual review. These innovations will make video colonoscopes an invaluable tool in moving the needle against colorectal disease.
In 2024, North America held more than 32.6% of market share. The key drivers include the increasing pool of patients, especially within the U.S. Also, the increasing geriatric population and their increased propensity for colorectal disease will continue to drive the demand for colonoscopes industry.
As reported by Statistics Canada, the percentage of the total population that is aged 65 and older is expected to rise from 18.9% in 2023 to between 21.9% (slow-aging scenario) and 32.3% (fast-aging scenario) by 2073. The colonoscopes market in the U.S. is likely to capture the largest share of the North American market over the estimated period owing to its rising number of colonoscopies performed, prevalence of key players, and increased product launches.
Some of the main players in the U.S. market are Olympus and Ambu A/S. Furthermore, a research article published in 2023 in Translational Gastroenterology and Hepatology states that over 15 million colonoscopies are performed annually in the U.S., which also fuels market growth.
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Colonoscopes Market
