The global colonoscopy devices market is expected to grow by USD 471.90 million as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 5%.
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The market is driven by technological advancements. In addition, the emergence of virtual colonoscopy devices is anticipated to boost the growth of the colonoscopy devices market.
Traditional colonoscopes had various shortcomings such as the inability to detect smaller, high-grade lesions that can be present in individuals and poor cytology results. To overcome many such challenges, vendors are focusing on developing advanced colonoscopy devices to gain a competitive edge in the market. For instance, OLYMPUS offers EVIS LUCERA ELITE Video Colonoscope. It offers advanced diagnostic features along with responsive insertion technology. Similarly, other vendors in the market are introducing HD colonoscopes with 170 degrees' angle of view, offering brighter images, high-resolution, and 30 degrees' wider field of view. Many such technological advancements are driving the growth of the global colonoscopy devices market.
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Major Five Colonoscopy Devices Companies:
Ambu AS operates its business through segments such as Visualisation, Anaesthesia, and Patient Monitoring & Diagnostics. The company offers C20 Colonoscopy System. It provides visualization and diagnostic/therapeutic access to the adult lower gastrointestinal tract for endoscopy surgery.
Boston Scientific Corp.
Boston Scientific Corp. operates its business through segments such as MedSurg, Rhythm and Neuro, Cardiovascular, and Specialty Pharmaceuticals. The company offers SpyGlass DS Direct Visualization System. It enables direct visualization of the pancreatic and bile ducts and is used to evaluate suspected benign and malignant conditions and treat difficult stones and structures.
Endomed Systems GmbH
Endomed Systems GmbH offers DUO-21 System. This endoscopy system is designed for colonoscopic examinations in different lengths.
FUJIFILM Holdings Corp.
FUJIFILM Holdings Corp. operates its business through segments such as Imaging solutions, Healthcare and material solutions, and Document solutions. The company offers COMBO-3. It is a video colonoscope designed for colonoscopic examinations in different lengths.
Getinge Group operates its business through segments such as Acute Care Therapies, Life Science, and Surgical Workflows. The company offers STERIZONE VP4. It is used to sterilize devices previously processed with the less robust high-level disinfection process, such as colonoscopy devices.
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Colonoscopy Devices Market Type Outlook (Revenue, USD Million, 2020-2024)
Video colonoscopy devices Fiberoptic colonoscopy devices
Colonoscopy Devices Market Geographic Outlook (Revenue, USD Million, 2020-2024)
North America Europe Asia ROW
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