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Global Sigmoidoscope Market to be Driven by the Endoscope Device Industry, Likely to Grow at a CAGR of 6.8% in the Forecast Period

According to a new report by EMR titled, ‘Global Sigmoidoscope Market Report and Forecast 2021-2026’, the sigmoidoscope industry is likely to be driven by the rising endoscope device industry, which is likely to grow at a CAGR of 6.8% between 2021-2026 to reach USD 59 billion by 2026.

The growth of the global sigmoidoscope industry can be attributed to increase in prevalence of colorectal cancer, gastrointestinal (GIT) diseases, and the rising awareness about healthcare.  Sigmoidoscope comes across as a class II medical device utilized in a sigmoidoscopy procedure for inspecting the sigmoid colon and rectum. Main uses of sigmoidoscopes incorporate screening for ulcers, abnormal cells, polyps, and cancer. The number of outpatient ambulatory surgery centers (ASCs) has seen growth over the years contributing to the number of same-day operations carried out using these scopes. Technology advances have compelled procedures involving sigmoidoscopes minimally invasive, sparing patients the pain of incisions and ensuing in rapid healing. The emerging markets in Asia Pacific, Latin America, and Middle East and Africa are expected to register sturdy growth during the forecast period.

The global sigmoidoscope devices market is largely dominated by Japanese manufacturers. General Electric Company (NYSE: GE) is a leading global medical technology and digital solutions innovator, enables clinicians to make faster and more informed decisions through various intelligent devices, data analytics, applications, and services. General Electric company has been one of the leading key players by providing all the solutions and services used in diagnosis.

Market Analysis by Product, Application, End uses:

  • The types of products include flexible sigmoidoscope and rigid sigmoidoscope.
  • The applications are diagnosis and monitoring, among others.
  • The end uses are hospitals and clinics, ambulatory surgical centres, diagnostic centres, gastroenterology institutes, among others.

Key Findings of the report:

  • High prevalence of gastrointestinal diseases with increasing concerns for healthcare of individuals resulting in increased demand for the product
  • Fast paced lifestyle, increase in alcohol consumption, smoking, and unhealthy eating habits are some of the major factors responsible for gastrointestinal diseases and infection hence driving the global sigmoidoscope industry.
  • Technologically advanced products offered by major companies that shorten the procedure time and offer other features are also fuelling the growth of the global sigmoidoscope industry.

Key Offerings of the report:

  • The EMR report gives an overview of the global sigmoidoscope industry for the periods (2016-2020) and (2021-2026). 
  • The report also offers the historical (2016-2020) and forecasted (2021-2026) markets for the type, applications, end-users, and major regions of sigmoidoscope industry.  
  • It assesses the regional price trends for the (2016-2020) and (2021-2026) periods.   
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in global sigmoidoscope market are General Electric Company, Olympus Corporation, Pentax Medical (HOYA Corporation), Bolton Surgical Limited, HIENE USA LTD, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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