The global flexible sigmoidoscopy market was valued at USD 504.4 million in 2018 and is expected to reach USD 748.8 million by 2024, at a CAGR of 6.9% during the forecast period from 2019 to 2024 according to latest study from Emergen Research.
The global flexible sigmoidoscopy market was valued at USD 504.4 million in 2018 and is expected to reach USD 748.8 million by 2024, at a CAGR of 6.9% during the forecast period from 2019 to 2024 according to latest study from Emergen Research. The rising geriatric population and the resulting increase in chronic diseases are projected to boost market growth. In addition, the growing awareness of colorectal cancer and the resultant increase in screening procedures are expected to fuel market growth. However, the high cost of procedures and lack of skilled personnel are expected to restraint market growth to a certain extent.
Sigmoidoscopy is a medical procedure in which a thin, flexible tube with a tiny video camera on its tip is inserted into the rectum and lower colon. This allows the doctor to examine the inside of these organs for any abnormal growths or other problems. A sigmoidoscopy can be used to diagnose and treat a variety of conditions, including cancer, hemorrhoids, and inflammatory bowel disease. It is a safe and relatively simple procedure that can be done in a doctor’s office or outpatient facility.
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The two main types of sigmoidoscopy include rigid sigmoidoscopy and flexible sigmoidoscopy. Of these, the latter is preferred as it is a less invasive procedure with a shorter recovery time. In addition, flexible sigmoidoscopy allows for a more comprehensive examination of the rectum and lower colon as compared to rigid sigmoidoscopy.
The growing geriatric population is a major factor driving the growth of the flexible sigmoidoscopy market. According to the World Health Organization (WHO), the geriatric population is projected to reach 2 billion by 2050. The increase in the number of people aged 65 years and older is anticipated to lead to an increase in the prevalence of chronic diseases such as colorectal cancer, which is a key indication for flexible sigmoidoscopy.
In addition, the rising incidence of colorectal cancer is another important factor boosting the growth of the market. According to the American Cancer Society, the incidence of colorectal cancer in the U.S. was about 1 in 20 in 2018. The number of new cases is expected to increase to more than 1.8 million by 2030.
Moreover, the increasing awareness about colorectal cancer screening is also propelling the growth of the market. The American Cancer Society recommends that people aged 50 years and older should undergo screening for colorectal cancer. In addition, various government initiatives to create awareness about colorectal cancer are expected to drive the growth of the market.
However, the high cost of flexible sigmoidoscopy is a key factor restraining the growth of the market. In addition, the risk of complications associated with the procedure is another major factor hampering the growth of the market.
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Some Key Highlights From the Report
- Flexible sigmoidoscopy is a diagnostic procedure that uses an endoscope to view the inside of the lower part of the large intestine (colon) and rectum. This procedure can often find abnormal growths, such as polyps, which can be removed before they turn into cancer. A colonoscopy can also be used to diagnose and treat other problems of the large intestine, including bleeding, inflammation, and bowel blockages. Flexible sigmoidoscopy is a safe and effective way to screen for colorectal cancer. The procedure is quick, causes little discomfort, and has a very low risk of complications. However, flexible sigmoidoscopy does have a few potential risks, such as bleeding and perforation (a hole in the wall of the intestine).
- In terms of product type, the flexible sigmoidoscopy market is segmented into electric and manual devices. Electric devices are further classified into cordless and corded devices. The cordless device segment is anticipated to grow at a significant CAGR during the forecast period, due to their easy portability and safety. Also, these devices offer better patient comfort during the procedure.
- In terms of application, the flexible sigmoidoscopy market is classified into cancer screening, diagnostics, and therapeutics. The cancer screening segment is further bifurcated into colorectal cancer and anal cancer. The diagnostics segment is anticipated to grow at the highest CAGR during the forecast period, due to the rising prevalence of colorectal cancer and other related diseases.
- In terms of end user, the flexible sigmoidoscopy market is classified into hospitals, clinics, and others. The hospitals segment is anticipated to grow at the highest CAGR during the forecast period, due to the increasing number of colorectal cancer cases and the availability of trained professionals in these settings.
- Based on indication, the flexible sigmoidoscopy market is classified into colorectal cancer screening, hemorrhoids, IBD, and others. The colorectal cancer screening segment held the largest share of the market in 2018 and is expected to grow at a significant CAGR during the forecast period.
- In terms of region, the flexible sigmoidoscopy market is classified into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America is expected to account for the largest share of the global market in 2018. The large share of this region can be attributed to the rising incidence of colorectal cancer, the availability of sophisticated healthcare infrastructure, and the presence of major market players in this region.
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Global Flexible Sigmoidoscopy Market: Competitive Landscape
The report provides a thorough analysis of the worldwide flexible sigmoidoscopy market’s competitive landscape as well as a close examination of the top producers and important market participants. It goes into further detail about the potential for growth, difficulties, and threats that these market competitors have encountered.
The most prominent players participating in this market include:
- Olympus
- Fujifilm
- Pentax Medical
- Karl Storz
- Parburch Medical
- Hmb Endoscopy
- RB Medical
- Bolton Surgical
- Welch Allyn
Global Flexible Sigmoidoscopy Market Segmentation:
Product Type:
- Flexible Sigmoidoscope
- Rigid Sigmoidoscope
Application:
- Diagnosis
- Monitoring
- Others
End User:
- Hospitals
- Clinics
- Others
Regional Outlook
- North America
- U.S
- Canada
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
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