Dublin, April 23, 2021 (GLOBE NEWSWIRE) -- The "Colonoscopy Devices - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Cancer Screening Suffers a Pandemic Induced Setback
The global market for Colonoscopy Devices is expected to slump by -8.2% in the year 2020, before recovering to reach a revised US$1.9 billion by the year 2027, trailing a 3.8% CAGR over the analysis period2020 to 2027.
Six months into the pandemic, the COVID-19 crisis continues to evolve & shows no signs of receding. Endoscopy the mainstay for the diagnosis & management of colorectal cancer is coming under pressure as COVID-19 continues to spread. All non-urgent procedures are being either rescheduled or replaced by alternative biomarkers.
Even as hospitals reopen for routine care, shortage of P.P.E & greater attention to endoscopic room hygiene & disinfection are impacting patient throughput rates. The low levels of screening raises the risk of missed, delayed diagnosis & higher mortality. In short, the pandemic is having a negative impact on the economy and healthcare. The risk of contracting the infection in healthcare settings is discouraging people from screening and treatment for various conditions including cancer. Colorectal cancer screening has declined drastically in the US, risking up to 18,000 delayed or missed diagnoses between March and June.
This is expected to decline the market for colonoscopy devices for the year 2020. However, without timely screening, the scenario is anticipated to adversely impact cancer patients, leading to increase in colorectal cancer mortalities. These undiagnosed patients are at a high risk of facing adverse effects of the condition. In addition, extended wait for treatment is increasing the risk of cancer progression among patients. The scenario is expected to impact growth prospects for the year 2020. A key trend which is evolving is the shift away from reusable scopes to disposable plastic variants due to fears of COVID-19 spread via droplets & fecal shedding.
In the post pandemic period, growth will come from the increasing focus on magnetically-driven robotic platform. Recent advances in the field of endoscopy focus on sophisticated robotic techniques along with active locomotion options to mitigate patient discomfort and pain without compromising over procedure reliability and diagnostic efficacy. Researchers are combining the enhanced patient tolerability and low invasiveness of WCE with options to ensure diagnostic as well as treatment in a single session.
Magnetically-driven robotic platform is expected to emerge as a compelling substitute to traditional colonoscopy owing to its minimally-invasive nature and low patient discomfort. These platforms support teleoperated robotic guidance of an innovative, painless and soft-tethered device for high efficacy and accuracy.
Embedded on the capsule, the internal magnet is controlled by an external magnet connected to robotic arm that moves the magnet over the patient's abdomen. An endoscopist directly guides the capsule with enhanced reliability and controllability. The technique is likely to become a popular option for colon inspection as it ensures comfortable diagnosis or treatment. The method leverages human-robot interaction to reduce invasiveness and increase diagnostic reliability and accuracy.
In addition, colonoscopy offers several other benefits over other alternative treatment options, in terms of accuracy, treatment safety, and precision, which are anticipated to further drive the demand for colonoscopes in surgical centers. Colorectal cancer represents the largest application area for colonoscopy devices, driven by the rising prevalence of colorectal cancer globally.
In contrast to invasive surgeries, colonoscopy procedures do not require any incision, which is likely to significantly augment the demand for colonoscopy devices. Moreover, the number of colonoscopy procedures will increase rapidly as a result of the expected expansion in the therapeutic capabilities of colonoscopes.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Drop in Colorectal Cancer Screenings due to COVID-19 Crisis Impacts the Colonoscopy Devices Market
Colonoscopy: The Journey from Conventional Devices to Robotic Platform
Existing CRC Diagnostic Approaches
Wireless Capsule Endoscopy (WCE)
Increasing Focus on Magnetically-Driven Robotic Platform
Colonoscopy Devices Market Prospects and Outlook
Regional Market Perspective
2. FOCUS ON SELECT PLAYERS(Total 17 Featured):
FUJIFILM Holdings America Corporation
GI View Ltd
HUGER Medical Instrument Co.,Ltd
KARL STORZ SE & Co. KG
MECAN MEDICAL EQUIPMENT CO LTD
Pro Scope Systems
Sonoscape Medical Corp.
3. MARKET TRENDS & DRIVERS
Colorectal Cancer Mortality and Screening Trends in the US
Percentage Breakdown of New Cases for Colon and Rectum Cancers by Gender (2019)
Growing Preference for Minimally Invasive Surgeries Drives Demand for Colonoscopy systems
Aging Population Drives Demand for Colonoscopy Devices
Global Population of 65+ Individuals (In 000s) by Region for the Years 2015, 2020 & 2025
Colorectal Cancer Burden Gradually Shifts from Older Individuals to Younger Population
Increasing Healthcare Expenditure to Foster Growth
World Healthcare Expenditure (In US$ Trillion) for the Years 2016 & 2018
Per Capita Healthcare Expenditure (in $) by Select Countries for 2018
Recent Technological Advancements and Launches Drive Market Growth
Prepless, Ingestible Imaging Capsule to Screen Colorectal Cancer
Artificial Intelligence to Hold Instrumental Role in Timely Identification of Colorectal Cancer during Colonoscopy
Invendo Medical Develops Single-use Invendoscope SC200 with OEM Peristaltic Pumps
SMART Medical Systems Introduces G-EYE 760R Colonoscope in Europe
Fujifilm Europe Launches CAD EYE Function for Real-Time Identification of Colonic Polyp during Colonoscopy
Motus GI Introduces Pure-Vu GEN2 Colon Cleansing System for Colonoscopy Bowel Preparation
Demand Increases for Colon Capsules
World Capsule Endoscopy Market by Product Segment (%): 2019E
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
Total Companies Profiled: 17
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