Sigmoidoscope Market Key Insights 2024-2033: Growth Rate, Trends And Opportunities
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033
The sigmoidoscopes market size has grown significantly in recent years, expected to expand from $2.39 billion in 2023 to $2.53 billion in 2024, at a compound annual growth rate (CAGR) of 5.9%. This growth in the historical period can be attributed to factors such as increasing demand for portable diagnostic tools, a growing emphasis on infection control, expansion of healthcare infrastructure, technological advancements, rising awareness about early diagnosis, regulatory guidelines, and consolidation among healthcare providers. In the next few years, the sigmoidoscopes market size is projected to reach $3.21 billion in 2028, reflecting a CAGR of 6.1%. The anticipated growth during the forecast period can be linked to 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 in this period include an emphasis on miniaturization and lightweight designs, convergence with digital health platforms, the development of smart penlights with sensors, applications of artificial intelligence (AI) and machine learning, a surge in telehealth services, a shift towards disposable penlights, and the utilization of 3D printing for customization.
The increasing prevalence of colorectal cancer is projected to propel the growth of the sigmoidoscope market in the coming years. Colorectal cancer develops in the colon and rectum, and its rising incidence is linked to various factors, including an aging population, sedentary lifestyles, and poor dietary choices, such as high consumption of processed foods and low fiber intake. Sigmoidoscopes play a crucial role in addressing colorectal cancer by enabling doctors 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 improves treatment outcomes and survival rates. For instance, in October 2021, the National Library of Medicine, a U.S.-based national library, reported that the number of new colorectal cancer cases was 0.16 million in 2020, with expectations to rise to 0.21 million by 2040. Therefore, the increasing prevalence of colorectal cancer is driving growth in the sigmoidoscope market, with ongoing expansion projected through 2024 and into 2028.
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What Are The Key Trends That Influence Sigmoidoscope Market Share Analysis?
Major companies in the sigmoidoscope market are focusing on developing advanced technological solutions, such as endoscopy systems, to enhance image color and texture and improve the visibility of lesions and polyps during endoscopic screenings. Endoscopy systems are tools used for inspecting internal body cavities and organs, featuring a flexible tube equipped with a light and camera for visualization on a monitor. For instance, in October 2023, Olympus Corporation launched its next-generation EVIS X1 endoscopy system. This advanced system aims to enhance gastrointestinal (GI) visualization for practitioners, aiding in the diagnosis and treatment of various GI disorders more effectively. The EVIS X1 system incorporates several innovative imaging technologies designed to enhance the detection of lesions and polyps.
Which Market Players Are Driving Growth In The Sigmoidoscope Market?
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
How Is The Global Sigmoidoscope Market Segmented?
The sigmoidoscopemarket covered in this report is segmented –
1) By Type: Flexible Sigmoidoscope, Rigid Sigmoidoscope
2) By Application: Diagnosis, Monitoring, Other Applications
3) By End User: Clinics, Hospitals, Diagnostic Centers, Gastroenterology Institutes, Ambulatory Surgical Centers, Other End Users
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The Sigmoidoscope Global Market Report 2024 provides an overview of the sigmoidoscopemarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The sigmoidoscope market forecast analyzes sigmoidoscope market size, sigmoidoscope market share, leading competitor and their market positions.
The Table Of Content For The Sigmoidoscope Market Include
1. Sigmoidoscope Market Executive Summary
2. Sigmoidoscope Market Segments
3. Sigmoidoscope Market Size And Template Market Growth Rate
4. Key Sigmoidoscope Market Trends
5. Major Sigmoidoscope Market Drivers
……
25. Key Mergers And Acquisitions In The Sigmoidoscope Market
26. Top Sigmoidoscope Companies
27. Sigmoidoscope Market Opportunities And Strategies
28. Sigmoidoscope Market, Conclusions And Recommendations
29. Appendix
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