Proctoscope Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Proctoscope Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Proctoscope Global Market Report 2024, The proctoscope market size has grown exponentially in recent years. It will grow from $1.25 billion in 2023 to $1.61 billion in 2024 at a compound annual growth rate (CAGR) of 28.8%. The growth in the historic period can be attributed to increasing prevalence of colorectal diseases, growth in aging population, improvements in diagnostic procedures, rising awareness of colorectal health, expansion of healthcare infrastructure.

The proctoscope market size is expected to see exponential growth in the next few years. It will grow to $4.09 billion in 2028 at a compound annual growth rate (CAGR) of 26.3%. The growth in the forecast period can be attributed to growing demand for minimally invasive diagnostic tools, increasing emphasis on early detection of colorectal conditions, expansion of colorectal cancer screening programs, rising healthcare expenditure, customization of proctoscopes for specific diagnostic needs. Major trends in the forecast period include development of disposable proctoscopes, integration of digital imaging in proctoscopy, emphasis on ergonomic design for patient comfort, adoption of teleproctoscopy services, growth of virtual colonoscopy as an alternative..

The increasing prevalence of colorectal cancer is expected to propel the growth of the proctoscope market going forward. Colorectal cancer is a type of cancer of the colon or rectum, which occurs through the development of cells in the lower end of the digestive tract. A proctoscope, a cancer screening tool, allows doctors to view the large intestine through the camera on its end that deliver images to a nearby monitor throughout the procedure, and that helps in the easy diagnosis of colorectal cancer. For instance, According to National Cancer Institute (NCI) data, a US-based government agency, approximately 153,020 men and women in the U.S. are diagnosed with colorectal cancer in 2023, leading to about 52,550 deaths. Therefore, the increasing prevalence of colorectal cancer drives the growth of the proctoscope market.

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The proctoscope market covered in this report is segmented –

1) By Type: Closed-End, Flute-Beaked, Illuminated, Trunk-End, Open-End, Other Types

2) By Modality: Disposable, Reusable

3) By Material Type: Plastic, Metal

4) By Application: Bronchoscopy, Urologic Endoscopy, Arthroscopy, GI Endoscopy, Proctoscopy, Other Applications

5) By End User: Hospital, Ambulatory Surgical Center, Diagnostic Centers, Specialty Clinics

Technological advancements are a key trend gaining popularity in the proctoscope market. Major companies operating in the proctoscope market are developing new technologies to sustain their position in the market. For instance, in January 2023, Haemoband Surgical, a UK medical device company, launched the HB-SleeveLUX Proctoscope for proctoscopes. The HB-SleeveLUX Proctoscope is a disposable, single-use instrument for diagnosing and treating disorders of the lower rectum and anal canal. The device’s distinctive, patented comfort sleeve and locking technology design enhance patient comfort and make the application more accessible and practical.

The proctoscope market report table of contents includes: