The sigmoidoscope global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Market Size –
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 in the historic period can be attributed to increasing demand for portable diagnostic tools, growing emphasis on infection control, expansion of healthcare infrastructure, technological advancements, rising awareness about 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 growth in the forecast period can be attributed to the integration of advanced light emitting diode (LED) lighting technologies, adoption of sustainable materials, expansion of online retail channels, customization for specialized applications, innovations in battery technology, investments in ergonomic designs, preference for rechargeable and wireless options. Major trends in the forecast period include emphasis on miniaturization and lightweight designs, convergence with digital health platforms, development of smart penlights with sensors, application of artificial intelligence (AI) and machine learning, surge in telehealth services, shift towards disposable penlights, utilization of 3D printing for customization.
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Scope Of Sigmoidoscope Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Sigmoidoscope Market Overview
Market Drivers –
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.
Market Trends –
Major companies operating in the sigmoidoscope market are focusing on developing advanced technological solutions, such as endoscopy systems, to enhance image color and texture and increase the visibility of lesions and polyps during endoscopic screening. Endoscopy systems are tools for inspecting internal body cavities and organs. They feature a flexible tube equipped with a light and camera, enabling 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, helping them diagnose and treat various GI disorders more effectively. The EVIS X1 system incorporates several innovative imaging technologies designed to improve the detection of lesions and polyps.
The sigmoidoscope market 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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Regional Insights –
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.
Key Companies –
Major companies in the 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
Table of Contents
- Executive Summary
- Sigmoidoscope Market Characteristics
- Sigmoidoscope Market Trends And Strategies
- Sigmoidoscope Market – Macro Economic Scenario
- Global Sigmoidoscope Market Size and Growth
………..
- Key Mergers And Acquisitions In The Sigmoidoscope Market
- Sigmoidoscope Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Sigmoidoscope Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Sigmoidoscope Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Sigmoidoscope Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 74: McKesson Corporation Financial Performance
Table 75: Henry Schein Medical Financial Performance
Table 76: Olympus Corporation Financial Performance
Table 77: Hill-Rom Inc Financial Performance
Table 78: Karl Storz Financial Performance
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