Colonoscopy Devices Market Size

Colonoscopy Devices Market Size

Colonoscopy Devices Market size was valued at around USD 2.1 billion in 2023 and is expected to expand at a CAGR of 5% from 2024 to 2032. This robust market growth can be attributed to factors such as the rising demand for minimally invasive procedures coupled with the increasing incidence and prevalence of colorectal cancer.

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As the number of individuals diagnosed with colorectal cancer and related conditions continue to rise, there is a corresponding surge in the demand for diagnostic and therapeutic endoscopic interventions. For instance, according to the World Health Organization, in 2023, colorectal cancer was the third most common cancer worldwide, accounting for approximately 10% of all cancer cases.

Colorectal cancer is more common in older individuals with the majority of cases occurring in people aged 50 and above, and as the global population continues to age, there is a natural increase in the number of people at risk for colorectal cancer. The aging demographic drives the demand for colonoscopies as a crucial tool for cancer detection and prevention.

Colonoscopy devices are medical instruments designed for the examination and visualization of the colon and rectum. These devices play a crucial role in both diagnostic and therapeutic procedures related to the gastrointestinal tract, particularly in the detection and management of colorectal conditions.