The market for colorectal procedures is ascribed to frequent diagnostic tests and medical device launches. Most of the major market players are involved in manufacturing a wide range of devices that help in reducing the burden of colorectal cancer and other associated indications such as colon polyps, Crohn’s disease, colitis, irritable bowel syndrome, and others. For instance, in April 2020, Olympus Corporation announced the launch of EVIS X1, which is the most advanced endoscopy. This system helps to improve the results from disorders of the stomach, colon, esophagus, and bronchial diseases. The system has various features such as extended depth of field (EDOF), red dichromatic imaging (RDI), texture and color enhancement imaging (TXI), and narrow-band imaging (NBI). The launch of EVIS X1 strengthened Olympus leadership in endoscopy and in the medical device industry.
In July 2022, US Digestive Health (USDH), a network of top-rated gastrointestinal (GI) practices, announced the commercialization of AI-assisted colonoscopy screenings with the country’s largest installation of GI Genious Intelligent endoscopy modules. In real-time, it will help physicians identify hard-to-detect and potentially cancerous polyps. The launch of the device will give patients throughout southeastern, southwestern, and central Pennsylvania wide-ranging access to the innovative and its enhanced capability. Moreover, in September 2020, Olympus Corporation announced the launch of ENDO-AID, a cutting-edge platform powered by artificial intelligence (AI) and includes the endoscopy application ENDO-AID CADe (computer-aided detection) for the colon. This new AI platform enables the real-time display of automatically detected suspicious lesions and works in combination with the recently introduced EVIS X1. Thus, the constant developments and new product launches in colorectal-associated indications are driving the colorectal procedural market growth.
The North America North America colorectal procedure market is segmented into the US, Canada, and Mexico. North America is the dominating region in the global colorectal procedure market. The growth can be attributed to age-related problems, increasing government funds, and continuous regional technology improvements. The growth of the North America colorectal procedure market in the region is expected to grow due to significantly rising incidences of colorectal cancer across the country and growing government support for the research in colon cancer. Moreover, the government provides multiple programs for the betterment of the population.
North America Colorectal Procedure Market Segmentation
The North America colorectal procedure market is segmented into product, surgery type, indication, end user, and country.
Based on route of product, the North America colorectal procedure market is segmented into endoscope, electrosurgery, handheld devices and visual systems, sealing and stapling devices, ligation clips and dilators and speculas, cutter and shears, accessories, and others. The endoscope segment held the largest share of the North America colorectal procedure market in 2022.
Based on surgery type, the North America colorectal procedure market is segmented into right hemicolectomy, left hemicolectomy, subtotal colectomy, low anterior resection, abdomino-perineal resection, and others (including endoscopic surgery). The subtotal colectomy segment held the largest share of the North America colorectal procedure market in 2022.
Based on end user, the North America colorectal procedure market is segmented into hospitals & clinics, surgery centers, and others. The hospitals and clinics segment held the largest share of the North America colorectal procedure market in 2022.
Based on indication, the North America colorectal procedure market is segmented into colon polyps, Crohn's disease, colorectal cancer, colitis, irritable bowel syndrome, and other indications. The irritable bowel syndrome segment held the largest share of the North America colorectal procedure market in 2022.
Based on country, the North America colorectal procedure market is segmented into US, Canada, and Mexico. US dominated the North America colorectal procedure market in 2022.
Ethicon (Johnson & Johnson Services, Inc.); Medtronic; Colospan Ltd; SAFEHEAL; B. Braun Melsungen; Cardinal Health Inc; Boston Scientific Corporation; CooperSurgical, Inc; Olympus Corporation are some of the leading companies operating in the North America colorectal procedure market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 6,311.66 Million |
| Market Size by 2028 | US$ 12,946.28 Million |
| CAGR (2022 - 2028) | 12.7% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Product
|
|
Regions and Countries Covered
|
|
| North America | US, Canada, Mexico |
| Market leaders and key company profiles |
|
The North America Colorectal Procedure Market is valued at US$ 6,311.66 Million in 2022, it is projected to reach US$ 12,946.28 Million by 2028.
As per our report North America Colorectal Procedure Market, the market size is valued at US$ 6,311.66 Million in 2022, projecting it to reach US$ 12,946.28 Million by 2028. This translates to a CAGR of approximately 12.7% during the forecast period.
The North America Colorectal Procedure Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Colorectal Procedure Market report:
The North America Colorectal Procedure Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Colorectal Procedure Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Colorectal Procedure Market value chain can benefit from the information contained in a comprehensive market report.
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