Our recent analysis titled "Colonoscopy Devices Market Forecast to 2030 - Global Analysis - Product Type, Application, End User, and Geography" indicates that the market was valued at approximately US$ 2.11 billion in 2022 and is projected to grow to US$ 3.16 billion by 2030. This growth represents an estimated compound annual growth rate (CAGR) of 5.2% from 2022 through 2030.

Colonoscopy procedures utilize reusable scopes, which are flexible, fiber-optic instruments inserted through the anus and navigated through the colon. These colonoscopes are essential tools for endoscopists, enabling them to identify chronic conditions and screen for malignant or precancerous diseases. It is recommended that individuals aged 50 and older undergo colonoscopies as part of their routine cancer screening practices. These procedures are typically performed in hospitals or ambulatory surgery centers (ASCs) under mild sedation to ensure patient comfort.

March is recognized as National Colorectal Awareness Month, a time dedicated to motivating patients, survivors, and caregivers to share their experiences, advocate for colorectal cancer prevention, and raise awareness about the significance of early detection. The Health Colorectal Cancer Awareness Campaign, initiated in 2019, represents the first comprehensive cancer awareness and prevention initiative at the University of California (UCLA). This campaign reflects a commitment to enhancing awareness of colorectal cancer and screening among UCLA Health patients, staff, and the broader Los Angeles community, particularly in medically underserved areas. The campaign has employed various strategies, including public awareness events, Dress in Blue Day, educational initiatives for patients and providers, informative videos, community lectures, media appearances, and wellness lectures focused on nutrition.

In response to the COVID-19 pandemic, the campaign adapted its format in March 2020, shifting to virtual screening and awareness initiatives while placing a greater emphasis on stool testing, allowing patients to access screening from the comfort of their homes. This increasing awareness regarding colon health is expected to drive the adoption of colonoscopy tests throughout the forecast period, creating significant opportunities for market participants.

Insights on Colonoscopy Devices Market by Product Type

The colonoscopy devices market is categorized by product type into colonoscopes, visualization systems, and other related devices. In 2022, the colonoscope segment dominated the market share. However, the visualization systems segment is projected to experience the highest CAGR from 2022 to 2030. Video endoscopes, specifically designed for colonoscopy procedures, are gaining traction as patients become more aware of the importance of the quality of their examinations. Many patients express interest in obtaining video recordings of their colonoscopies to verify the quality of the procedure or to view it, as they are often unable to observe it in real-time.

Insights on Colonoscopy Devices Market by End User

When examining the colonoscopy devices market by end user, the segments include hospitals, ambulatory surgery centers, and others. The hospital segment accounted for the largest share of the colonoscopy devices market in 2022 and is expected to register the highest CAGR during the period from 2022 to 2030. This growth is attributed to the adoption of advanced technologies in hospitals and the increasing number of screenings conducted in these settings. Factors such as the development of healthcare infrastructure in emerging markets, a growing focus on improved patient outcomes, and rising healthcare expenditures are driving the expansion of the hospital segment.

In preparing the report on the colonoscopy devices market, several key primary and secondary sources were consulted, including the European Society of Gastrointestinal Endoscopy, the World Health Organization, and the World Gastroenterology Organisation. These organizations provide valuable insights and data that contribute to a comprehensive understanding of the market dynamics and trends.