Michael Barbella, Managing Editor11.08.22
An increasing number of colon cancer screenings—particularly in the United States—is expected to drive future growth of the worldwide colonoscope market.
GlobalData predicts the sector to rapidly expand from $3.6 billion this year to $5.8 billion by the end of the decade.
The typical age for commencing colorectal cancer screenings is around 50, at which point patients undergo either routine colonoscopy, stool tests, or a combination of the two.
According to research by GlobalData's medical team, colonoscopy has historically been the predominant U.S. screening method, while stool tests for occult blood via guaiac testing and fecal immunochemical testing have been preferred in Europe and Australia. In such cases, colonoscopy would occasionally be performed as confirmatory procedures following stool sample analyses. Therefore, the colonoscope market has traditionally been focused within the US over most countries.
“The need for early detection and surgical treatment for colorectal cancer, which is the second deadliest type of cancer, remains high," said Brian Hicks, a senior analyst at GlobalData. "This is especially so in the U.S. According to GlobalData’s Epidemiology forecast, there 141,913 diagnosed incident cases of colorectal cancer in men and women in the U.S. in 2021, and this is expected to increase to 161,497 in 2031.”
There are two types of colonoscopes, namely flexible video and non-video colonoscopes. Today, the former accounts for nearly all new sales of colonoscopes, given their technological advantages and continuously improving visualization capabilities.
“While the average selling prices of flexible video colonoscope devices have experienced gradual declines in recent years, their increasing volume of sales are driving the aggressive market growth,” Hicks noted.
The market leaders of colonoscopes are comprised of mostly top Japanese medical device manufacturers, including Olympus, Fujifilm, and Hoya. However, this list may change near the end of the decade, as Ambu, a Danish company that pioneered single-use endoscopes, is likely to launch the world’s first single-use colonoscope.
“By not only eliminating the risk of cross-contamination, but also potentially lowering the cost per procedure by using single-use colonoscopes, more companies will likely invest in their research and development (R&D) for manufacturing their own single-use colonoscopes, but Ambu will enjoy a head start in penetrating this segment of the market,” Hicks said.
GlobalData predicts the sector to rapidly expand from $3.6 billion this year to $5.8 billion by the end of the decade.
The typical age for commencing colorectal cancer screenings is around 50, at which point patients undergo either routine colonoscopy, stool tests, or a combination of the two.
According to research by GlobalData's medical team, colonoscopy has historically been the predominant U.S. screening method, while stool tests for occult blood via guaiac testing and fecal immunochemical testing have been preferred in Europe and Australia. In such cases, colonoscopy would occasionally be performed as confirmatory procedures following stool sample analyses. Therefore, the colonoscope market has traditionally been focused within the US over most countries.
“The need for early detection and surgical treatment for colorectal cancer, which is the second deadliest type of cancer, remains high," said Brian Hicks, a senior analyst at GlobalData. "This is especially so in the U.S. According to GlobalData’s Epidemiology forecast, there 141,913 diagnosed incident cases of colorectal cancer in men and women in the U.S. in 2021, and this is expected to increase to 161,497 in 2031.”
There are two types of colonoscopes, namely flexible video and non-video colonoscopes. Today, the former accounts for nearly all new sales of colonoscopes, given their technological advantages and continuously improving visualization capabilities.
“While the average selling prices of flexible video colonoscope devices have experienced gradual declines in recent years, their increasing volume of sales are driving the aggressive market growth,” Hicks noted.
The market leaders of colonoscopes are comprised of mostly top Japanese medical device manufacturers, including Olympus, Fujifilm, and Hoya. However, this list may change near the end of the decade, as Ambu, a Danish company that pioneered single-use endoscopes, is likely to launch the world’s first single-use colonoscope.
“By not only eliminating the risk of cross-contamination, but also potentially lowering the cost per procedure by using single-use colonoscopes, more companies will likely invest in their research and development (R&D) for manufacturing their own single-use colonoscopes, but Ambu will enjoy a head start in penetrating this segment of the market,” Hicks said.