Colonoscopy Devices Market - By Product Type (Colonoscope, Visualization Systems), Application (Colorectal Cancer, Lynch Syndrome, Ulcerative Colitis, Crohns Disease), End-use (Hospitals, Ambulatory Surgical Centers) - Global Forecast, 2024 - 2032

Colonoscopy Devices Market size is poised to expand at 5% CAGR from 2024 to 2032 driven by the increasing incidence of colorectal cancer worldwide.

As per WHO, colorectal cancer is the third most frequent disease in the world, accounting for around 10% of all cancer diagnoses, and the second biggest cause of cancer-related fatalities. With the rapidly aging global population and lifestyle changes, the prevalence of colorectal cancer will continue to rise, fueling the demand for colonoscopy procedures and devices. Additionally, advanced technologies in colonoscopy devices, such as improved imaging and navigation systems are enhancing diagnostic accuracy, further accelerating the industry growth. For instance, in February 2024, Magentiq launched its AI-aided colonoscopy tool to improve the identification and removal of adenomas by 7%, lowering the chance of getting colorectal cancer.

The colonoscopy devices industry is segmented in product type, application, end-use, and region.

In terms of product type, the market value from the visualization systems segment is anticipated to witness 4.9% CAGR from 2024-2032. Innovations, such as high-definition (HD) and ultra-high-definition (UHD) cameras, along with narrow-band imaging (NBI) and virtual chromoendoscopy technologies are enhancing the detection and diagnosis of colorectal diseases. These advanced visualization systems offer clearer, detailed images of the colon for improving accuracy in lesion identification and reducing miss rates. Additionally, the integration of AI-assisted image analysis is further augmenting the diagnostic capabilities, fueling the product acceptance significantly.

Based on application, the colonoscopy devices market from the Lynch syndrome segment is projected to record 4.6% CAGR through 2032. Lynch syndrome (LS) is the most prevalent hereditary colorectal cancer (CRC) condition, with a population frequency ranging from 2% to 3%. This disease penetration is surging the need for regular colonoscopies for early detection and surveillance. The rising prevalence of Lynch Syndrome, coupled with increasing awareness and genetic testing is driving the demand for colonoscopy devices tailored for effective screening and monitoring. Advanced technologies, such as chromoendoscopy and high-definition imaging are also enhancing the rate of lesion detection crucial for Lynch Syndrome patients, boosting the segment growth.

Regionally, the Asia Pacific colonoscopy devices industry is projected to exhibit 6.2% growth rate from 2024-2032. The increasing awareness about colorectal cancer coupled with rising healthcare expenditures are fueling the demand for colonoscopy procedures. The growing government efforts to improve healthcare infrastructure is promoting preventive healthcare. Additionally, the aging population and changing dietary habits in the region are contributing to the rise in colorectal diseases, necessitating more screening procedures. Moreover, advancements in medical technologies and the higher adoption of minimally invasive procedures are also driving the regional market expansion.