According to a new report published by Introspective Market Research, titled, “Colonoscope Video Endoscope Market Product Type, Technology, Application, and End-user: Global Opportunity Analysis and Industry Forecast, 2024–2032,” the Global Colonoscope Video Endoscope market size was valued at USD 26.57 Billion in 2023, and is projected to reach USD 47.63 Billion by 2032, registering a CAGR of 6.7 % from 2024 to 2032. A colonoscopy video endoscope is a medical tool employed to view the inside of the colon (large intestine) and rectum for diagnostic and therapeutic reasons. It is a kind of flexible endoscope, consisting of a lengthy, slender tube with a camera and light attached to the tip.
Video endoscopy offers diagnostic benefits through improved clarity, accuracy, prompt detection, and reduced risk of missing abnormalities. In terms of therapy, it provides targeted treatment, less intrusive techniques, and decreased chances of bleeding. It improves patient satisfaction, safety, record-keeping, education, workflow, length of hospital stays, and output. Moreover, it consists of cutting-edge imaging technology, integration of artificial intelligence, and data analysis capabilities for research purposes.
In the year 2020, there were 1.9 million cases of colorectal cancer globally, resulting in 935,000 deaths, making it the third most common cancer. The frequency of cases is on the rise in countries with lower and moderate levels of income, resulting in delayed identification and high death rates. Colonoscope Video Endoscope technology helps with screening and early detection by finding and eliminating precancerous polyps, as well as spotting issues such as GI bleeding and FAP. Advances in technology and government support are fueling the need for early screenings.
Advancements in Colonoscope Video Endoscope Technology have transformed colonoscopy practices. HD and 4K imaging enhance visualization for better polyp and lesion detection. NBI technology improves cancerous growth detection by enhancing blood vessel visibility. AI and ML algorithms analyze images instantly, reducing overlooked lesions. CAD systems detect abnormalities, improving procedure efficiency. Robot-assisted technology increases accuracy and patient satisfaction, while wireless and capsule endoscopy improves accessibility and patient comfort. Integration of EHRs and analytics platforms enhances patient care and benefits healthcare providers and patients.
Global Colonoscope Video Endoscope Market, Segmentation
The Colonoscope Video Endoscope market is segmented based on Product Type, Technology, Application, and End-user.
Type:
Flexible video endoscopes are the preferred choice for colon navigation due to their ability to reduce patient discomfort and complications compared to rigid endoscopes. They provide high-quality images to improve the accuracy of disease diagnosis, ultimately improving medical care results.
Healthcare providers appreciate the enhanced image quality of HD and 4K technologies, which is driving the desire for less invasive procedures such as colonoscopies. Effective treatment requires timely identification, which has led to a rise in the popularity of affordable and user-friendly Video Endoscopes among medical professionals and patients.
End-user:
Hospitals depend on Colonoscope Video Endoscopes because of the increased need for colonoscopy procedures. Their substantial market presence is attributed to their sophisticated infrastructure, talented workforce, and utilization of state-of-the-art technology. Dedicated endoscopy rooms and a team of specialists guarantee excellent care, with an emphasis on implementing HD and 4K resolution technology.
They serve a diverse group of patients and provide inpatient and outpatient services, supported by government and private funding for facilities and equipment. Hospitals also serve as hubs for education and research, leading to a greater need for Colonoscope Video Endoscopes for training and research endeavors.
Region:
Colorectal cancer is the third most diagnosed cancer in the US, driving the demand for colonoscopy procedures and Colonoscope Video Endoscopes. The robust healthcare system in North America, particularly in the US, embraces cutting-edge technologies, making it a hub for medical advancements. Positive reimbursement policies and strict regulations from the US FDA and Health Canada lead to an increased demand for colonoscopy procedures and encourage research and development by major firms like Olympus Corporation and Fujifilm Holdings Corporation. Groups like the American Cancer Society also support the funding of advanced medical technologies like Colonoscope Video Endoscopes to promote colon cancer screenings.
Some of The Active Market Players Are-
- Olympus (Japan)
- KARL STORZ (Germany)
- Fujifilm (Japan)
- ENDOMED (USA)
- Huger Endoscopy Instruments (USA)
- Sonoscape (China)
- EndoChoice (USA)
- ANA-MED (USA)
- Pentax Medical (Japan)
- B. Braun (Germany)
- Medtronic Xomed, Inc. (USA)
- Stryker (USA)
- COOK (USA)
- Richard Wolf GmbH (Germany)
- Henke-Sass Wolf GmbH (Germany), and Other Active Players.
Key Industry Developments
- In February 2024: PENTAX Medical, a division of HOYA Group, has received CE marks for new models of the PENTAX Medical i20c Video Endoscope Series, including the PENTAX Medical Video Colonoscope EC34-i20c, PENTAX Medical Video Upper GI Scope EG27-i20c, and R/L Knob Adaptor OE-B17. These models, along with the PENTAX Medical INSPIRA™ Video Processor EPK-i8020c, aim to enhance detection, diagnosis, and therapy for healthcare professionals.
Key Findings of the Study
- Colonoscope detects and removes precancerous polyps, aiding in early detection of colorectal diseases.
- Advancements in Colonoscope Video Endoscope Technology improve colonoscopy with HD and 4K imaging.
- Flexible Video Endoscopes are preferred over rigid ones for easier colon navigation, reducing patient discomfort and complications with high-quality images.
- Cutting-edge healthcare system in North America, led by the United States, promotes innovative technologies like Colonoscope Video Endoscopes.
