Colonoscopy devices market is expected to witness significant growth due to the increasing prevalence of colon cancer. Colonoscopy devices are widely used for the internal inspection of the body of the large intestine, colon, and the rectum. These devices are also used in biopsies and other large intestinal related surgery. The device examines the complete length of the large intestine along with the colon and rectum. Physicians use the colonoscopy devices for observation of internal organs such as gastrointestinal tract, bowels, and anus to identify the possibility of cancer or any other kind of abnormalities. The colonoscopy devices remove the polyps from the large intestine, once removed these polyps are observed to determine the degree of risk associated.
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Moreover, the rise in the number of diseases and fatalities that are associated with rectal cancer, GI (gastrointestinal) bleeding related disorder, colon cancer and others created demand for diagnostic screening procedures of internal diseases especially associated with the intestine. Moreover, the rising incidence and prevalence rates of internal disorders such as GI hemorrhage, colon cancer, polyps and ulceration across the globe is expected to boost the growth of colonoscopy devices market in the near future. The increasing awareness of the ill effects of colon disorder and other intestinal disorders across the globe will drive the growth of the colonoscopy device market.
North America is a major contributor to the global colonoscopy device industry attributing to the growing prevalence of the rectal diseases, the growing emphasis on the development of innovative products, presence of a developed and well-maintained healthcare system backed with the cohesive government policies. The rising number of companies manufacturing the colonoscopy and related devices has also boosted the market. Moreover, in the US various health programs have been conducted by the government to make the population aware of the disorder and diseases associated with the colon. These health camps are funded by government agencies for R&D programs for new instruments and procedures for intensive surgeries. Asia-Pacific market for colonoscopy devices has witnessed considerable growth due to considerable investment by the government in the region. The government organizations are providing funds for the development and awareness among the populations about the diseases.
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Current Market Trends covered in the Market Report:
Industry Key Players
The market includes significant players such as Boston Scientific Corp., Avantis Medical Systems, Inc., Getinge AB, Photometrics Ltd., Exact Sciences Corp., and SonoScape Medical Corp. These players adopt various strategies such as mergers & acquisitions, products, and services offering expansion, geographical expansion, and partnership & collaboration to stay competitive in the market. For an instance, Exact Sciences Corp., in August 2018, established a partnership with Pfizer Inc., for co-promoting Cologuard, non-invasive stool DNA screening test for colorectal cancer, which is the first and only approved test by the FDA.
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The global Colonoscopy devices market report summarizes the positive growth rate in upcoming years, and market size with competitive analysis. Our experts have analyzed the historical data to compare with the current market scenario to calculate the market growth in the coming years. The study provides an exhaustive report that includes an executive summary, scope, and forecast of the market.
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