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Colonoscopy is the diagnostic examination of the intestine, including large and small bowels, with the help of a device called colonoscope. Colonoscope insertion tube comprises a fiber optic light bundle that transmits light rays from the source located at the tip of the tube. The distal end of a colonoscope includes a CCD (charge-coupled device), which serves as a small camera and transmits the image to an external video processing unit electronically. The colonoscopes tip is inserted into the anal part of the body and is then advanced slowly into the rectum, under visual control.

Increase in prevalence of colon cancer and improved diagnostic techniques such as computer tomography and X-ray to detect abnormalities in the colon are the major factors expected to boost the growth of the global colonoscopes market during the forecast period. However, lack of awareness about the technological advancements in the diagnostic tools for the disorders of colon and intestine is likely to restrain the global market during the forecast period.

The global colonoscopes market can be segmented based on product, component, and end-user. In terms of product type, the market can be classified into single channel colonoscopes, dual channel colonoscopes, and multi-channel colonoscopes. The dual channel colonoscopes segment accounted for the largest market share in terms of revenue in 2017. The segment is expected to continue to dominate the market during the forecast period, attributed to the emerging local & regional manufacturers of dual channel colonoscopes, and significant treatment and suction capabilities of dual channel colonoscopes. However, green signal by the FDA for the approval of technologically advanced single channel colonoscopes by key companies such as Olympus Corporation is anticipated to fuel the growth of the single channel colonoscopes segment at a relatively significant CAGR during the forecast period. Based on component, the global colonoscopes market can be categorized into colonoscopes, visual systems, and accessories. The colonoscopes segment held the largest share of the market in terms of revenue in 2017, owing to funding and research grants by public & private players to promote the manufacture of colonoscopes, and increase in awareness in the developing countries. Improved reimbursement policies for colonoscopes is estimated to propel the segment at a high CAGR from 2018 to 2026. In terms of end-user, the global colonoscopes market can be divided into hospitals, ambulatory surgical centers, clinics, and others. Hospitals was the leading segment in terms of revenue in 2017, due to availability of trained and well-qualified health care professionals in hospitals and rise in hospital admissions in emerging economies owing to significant incidence rate of colon cancer. However, the clinics segment is expected to expand at a high CAGR during the forecast period, attributed to rise in adoption of innovative diagnostic tools by health care professionals.

In terms of region, the global colonoscopes market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the largest market share in 2017, attributed to increase in strategic presence of key companies in the U.S. and Canada, and rise in investments in health care. The region is anticipated to be the market leader during the forecast period, due to increase in awareness among the population about colon cancer and surge in investments by key players in R&D of technologically advanced colonoscopes. However, Asia Pacific is projected to be the fastest growing market, due to rise in geriatric population and increase in penetration of key companies along with their efficient distribution of the products. The high percentage of geriatric population in developing countries such as China and Japan drives the incidence of colorectal polyps and tumors in the Asia Pacific, which in-turn is expected to propel the colonoscopes market from 2018 to 2026.

Major players in the global colonoscopes market are Stryker Corporation, Absolute Medical Services, Inc., PENTAX Medical, FUJIFILM Holdings America Corporation, Olympus Corporation, Pro Scope Systems, Medical Recovery Company, Inc., Endo Technologies, ESS, Inc., MedWrench, LLC, International Medical Equipment, Inc., and Boston Scientific Corporation, among others.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Colonoscopes Market

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