Sigmoidoscope Market: Initial Screening Tool for Examining Cancer Growth and Other Colorectal Diseases
- Sigmoidoscopy is a procedure or examination of the lower part of the gastrointestinal tract called the colon or large intestine for determining the cause of any colon disease. This endoscopy is done for visual examination by using a flexible tube with a light on it. This tube is called sigmoidoscope.
- Several colon diseases and conditions such as ulcers, polyps, Crohn’s disease, and cancer are diagnosed by initial screening by sigmoidoscope. This sigmoidoscopy procedure can be done if changes in bowel habits, rectal bleeding, abdominal pain, and unexplained weight loss and other related symptoms are observed for further screening.
- A doctor inserts sigmoidoscope into anus and pushes it to rectum and sigmoid colon for visual examination. This tube has a light and a very small camera on the end for transmitting images onto a monitor for the doctor to examine internal parts.
- The entire procedure can take 10 to 20 minutes and most widely used for screening of colon malignancy in older people. A small sample for biopsy is taken for further examination.
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Key Drivers and Restraints of Global Sigmoidoscope Market
- Increase in prevalence of colorectal cancer and growing aging population which is more prone to gastrointestinal diseases are some of the major factors responsible for the growth of the global sigmoidoscope market
- For instance, as per the American Cancer Society (ACS) data, an estimated 145,600 adults in the U.S. diagnosed with colorectal cancer in 2019 which included 101,420 new cases of colon cancer and 44,180 new cases of rectal cancer
- Changing lifestyle, increase in alcohol consumption, smoking, and unhealthy diet are some of the major factors responsible for gastrointestinal diseases and infections which need a proper examination if the condition worsened. Hence, these changing lifestyle habits drive the global sigmoidoscope market.
- Technologically advanced products offered by major companies which shorten the procedure time and offer other features are also fuelling the growth of the global sigmoidoscope market
Higher cost of Endoscopy to Hamper Market
- High cost of endoscopy procedure and unfavorable reimbursement scenario in developing countries are some of the factors which are likely to restrain the global sigmoidoscope market during the forecast period
- Lack of skilled health care professionals in developing countries to handle the procedure is also hampering the growth of the global sigmoidoscope market
Flexible Sigmoidoscope to be More Lucrative Segment
- Based on Product type, the global sigmoidoscope market can be bifurcated into flexible sigmoidoscope and rigid sigmoidoscope
- Flexible sigmoidoscope is anticipated to be a more promising segment during the forecast period, owing to comparatively better patient comfort and greater diagnostic yield by this type
- Flexible sigmoidoscope is made of a flexible fiber optic tube having length up to 60 cm which can reach further than rigid sigmoidoscope for examination
Diagnosis Segment Accounted for Major Market Share
- Based on application, the global sigmoidoscope market can be divided into diagnosis, monitoring, and others
- The diagnosis segment dominated the global sigmoidoscope market during the forecast period, owing to rise in prevalence of gastrointestinal diseases & colorectal cancer, people emphasis on early detection of diseases, and growing number of examination for diagnosis of these conditions
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Clinics Segment to be Highly Lucrative Segment
- In terms of end-user, the global sigmoidoscope market can be segmented into hospitals, ambulatory surgical centers, clinics, and others
- The hospitals segment accounted for major market share in the global market due to rise in hospital admissions of patients suffering from colon complications and availability of advanced products
- The clinics segment is anticipated to be a highly lucrative segment, growing with a high CAGR during the forecast period. Increase in adoption of innovative tools at clinics and inclination of people toward specialized consultant for specific indication are some of the major factors responsible for the growth of this segment.
North America to Lead Global Market for Sigmoidoscope
- In terms of region, the global Sigmoidoscope market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the global sigmoidoscope market in 2018, owing to increase in prevalence of colon cancer & other gastrointestinal diseases, presence of major players, and early adoption rate of people for advanced products
- For instance, according to The Crohn’s & Colitis Foundation of America (CCFA), around 70,000 new cases of inflammatory bowel disease are diagnosed in the U.S. each year
- The market in Asia Pacific is expected to grow at a high CAGR during the forecast period, owing to increase in aging population with higher ratio of colorectal cancer, rise in awareness about gastrointestinal diseases & their diagnosis, and growing focus of major players in this region.
Key Manufacturers Operating in global Market
Key manufacturers operating in the global market are:
- Olympus Corporation
- Welch Allyn
- KARL STORZ SE & Co. KG
- PENTAX Medical
- FUJIFILM Holdings America Corporation
- Parburch Medical Ltd.
- Bolton Surgical Ltd.
- HEINE Optotechnik GmbH & Co. KG
- HMB Endoscopy Products
- Pal Surgicals
Global Sigmoidoscope Market: Research Scope
Global Sigmoidoscope Market, by Product Type
- Flexible Sigmoidoscope
- Rigid Sigmoidoscope
Global Sigmoidoscope Market, by Application
Global Sigmoidoscope Market, by End-user
- Ambulatory Surgical Centers
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Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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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
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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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?
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