PUBLISHER: The Business Research Company | PRODUCT CODE: 1588810
PUBLISHER: The Business Research Company | PRODUCT CODE: 1588810
A sigmoidoscope is a medical instrument used to examine the interior of the sigmoid colon and rectum. It is a type of endoscope designed for insertion into the lower part of the large intestine through the anus. The device features either a flexible or rigid tube equipped with a light source and a camera or lens system, enabling healthcare providers to visually inspect these areas for abnormalities such as polyps, tumors, inflammation, and other conditions.
The main types of sigmoidoscopes are flexible sigmoidoscopes and rigid sigmoidoscopes. A flexible sigmoidoscope consists of a long, flexible tube with a light and camera at the end, used to examine the lower part of the large intestine and perform minor procedures. Sigmoidoscopes are applied in various settings for diagnosis, monitoring, and other purposes, and are utilized by different end users such as clinics, hospitals, diagnostic centers, gastroenterology institutes, and ambulatory surgical centers.
The sigmoidoscopes market research report is one of a series of new reports from The Business Research Company that provides sigmoidoscopes market statistics, including sigmoidoscopes industry global market size, regional shares, competitors with a sigmoidoscopes market share, detailed sigmoidoscopes market segments, market trends, and opportunities, and any further data you may need to thrive in the sigmoidoscopes industry. This sigmoidoscopes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The sigmoidoscopes market size has grown strongly in recent years. It will grow from $2.39 billion in 2023 to $2.53 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth during the historic period can be attributed to several factors, increasing demand for portable diagnostic tools, a growing emphasis on infection control, expansion of healthcare infrastructure, technological advancements, rising awareness of early diagnosis, regulatory guidelines, and consolidation among healthcare providers.
The sigmoidoscopes market size is expected to see strong growth in the next few years. It will grow to $3.21 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The projected growth during the forecast period can be attributed to several factors, the integration of advanced light-emitting diode (LED) lighting technologies, the adoption of sustainable materials, the expansion of online retail channels, customization for specialized applications, innovations in battery technology, investments in ergonomic designs, and a preference for rechargeable and wireless options. Major trends expected to drive this growth include a focus on miniaturization and lightweight designs, convergence with digital health platforms, the development of smart penlights with sensors, the application of artificial intelligence (AI) and machine learning, a surge in telehealth services, a shift towards disposable penlights, and the use of 3D printing for customization.
The anticipated increase in colorectal cancer cases is likely to drive the growth of the sigmoidoscope market. Colorectal cancer originates in the colon-the longest segment of the large intestine-or the rectum, which is the final part of the large intestine before the anus. This rise in colorectal cancer cases is linked to factors such as an aging population, sedentary lifestyles, and poor dietary habits, including high consumption of processed foods and low fiber intake. Sigmoidoscopes are crucial in diagnosing colorectal cancer as they allow physicians to visually inspect the rectum and lower colon for abnormal growths such as polyps or tumors. They are essential for early detection, diagnosis, and removal of potentially cancerous polyps, which enhances treatment outcomes and survival rates. For instance, data from the National Library of Medicine in October 2021 indicated that there were 160,000 new cases of colorectal cancer in 2020, with projections suggesting an increase to 210,000 cases by 2040. Thus, the growing prevalence of colorectal cancer is fueling the demand for sigmoidoscopes.
Leading companies in the sigmoidoscope market are concentrating on developing advanced technologies, such as endoscopy systems, to improve image quality and enhance the visibility of lesions and polyps during examinations. Endoscopy systems use a flexible tube with a light and camera to inspect internal body parts, with the images displayed on a monitor. For example, in October 2023, Olympus Corporation introduced its next-generation EVIS X1 endoscopy system. This advanced system aims to improve gastrointestinal (GI) visualization, aiding practitioners in diagnosing and treating GI disorders more effectively. The EVIS X1 incorporates cutting-edge imaging technologies designed to enhance the detection of lesions and polyps.
In January 2024, Olympus Corporation, a Japanese manufacturer specializing in optics and reprography products, acquired Taewoong Medical Co., Ltd. for $370 million. This acquisition is intended to expand Olympus's gastrointestinal (GI) endotherapy product range, aiming to improve patient outcomes with a broader selection of solutions. Taewoong Medical Co., Ltd., based in Korea, produces medical devices, including endoscopes.
Major companies operating in the sigmoidoscope market are McKesson Corporation, Henry Schein Medical, Olympus Corporation, Hill-Rom Inc, Karl Storz, PENTAX Medical Company, Heine Optotechnik GmbH & Co. KG, Williams Medical, Rocket Medical, Medline Industries Inc., Bioseal Inc., Horten Medical Pty Ltd, Stapleline Medizintechnik GmbH, Care Surgicals, Evexar Medical Ltd, Kashmir Surgical India Private Limited, Narayan Surgical, Pal Surgical And Medical, Parburch Medical, Sun Traders Ltd
North America was the largest region in the sigmoidoscope market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sigmoidoscope market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the sigmoidoscope market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The sigmoidoscope market consists of sales of tube sigmoidoscopes, video sigmoidoscopes, and disposable sigmoidoscope systems. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Sigmoidoscope Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on sigmoidoscope market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for sigmoidoscope ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The sigmoidoscope market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.