The US colonoscopy devices market is estimated to grow modestly at a CAGR of 5.4% during the forecast period. The US is a major contributor to the growth of the colonoscopy devices market. The significantly high number of cases pertaining to colorectal cancer and other colon-related diseases along with easy access to its treatment is anticipated to drive the growth of colonoscopy devices market. According to the American Cancer Society, in 2019, there were 101,420 new cases of colon cancer and 44,180 new cases of rectal cancer. As per the report of the CDC (Centre for Disease Control and Prevention), colorectal cancer is the second leading cause of cancer mortalities among other cancers in the US. Every year, about 140,000 Americans suffer from colorectal cancer, and more than 50,000 mortalities are recorded from it.

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Moreover, an initiative from the National Colorectal Cancer Roundtable is a group or organization that aimed to increase the percentage of people screened for colorectal cancer to 80% of the 50 to 75 age group by 2018. This initiative used a mathematical model to estimate how many colonoscopies would be needed to screen 80% of the eligible population and as well as predicted whether the US has enough equipment and facilities to screen 80% of those aged 50 to 75. Along with this, the growing awareness of the effects of colon-related disorders among the public is estimated to drive market growth. Advancement in manufacturing methods of colon related disorders and rising number of colonoscopy device manufacturing companies are again contributing to the growth of the market in the country, owing to the decrease in the cost of these devices when manufactured in the home country.

The companies which are contributing to the growth of the US colonoscopy devices market include Boston Scientific Corp., Medtronic PLC, FUJIFILM Holdings Corp., Hoya Corp., and B. Braun Melsungen AG. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups and technological advancements to stay competitive in the market. For instance, in May 2019, FUJIFILM Medical Systems U.S.A., Inc. announced to build a new “smart” manufacturing facility in the site of FUJIFILM Techno Products Co., Ltd. which is one of the company’s production bases for endoscopy products. The new manufacturing facility employs AI and IoT technologies for achieving significant-high production efficiency. The facility will be manufacturing endoscopes compatible with the company’s endoscopy systems such as ELUXEO and LASEREO, which use two distinct light wavelengths for observation to support the detection of minute lesions.

Research Methodology

The market study of the US colonoscopy devices market is incorporated by extensive primary and secondary research conducted by the research team.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, various services offered by the players, and market opportunity. The report will serve as a source for 360-degree analysis of the market delivering insights for making better business decisions.

Market Segmentation

1. US Colonoscopy Devices Market Research and Analysis by Type

2. US Colonoscopy Devices Market Research and Analysis by End-User

The Report Covers

• Comprehensive research methodology of the US colonoscopy devices market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the US colonoscopy devices market.
• Insights about market determinants which are stimulating the US colonoscopy devices market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.