The South & Central America colorectal procedure market is expected to grow from US$ 664.91 million in 2022 to US$ 1,427.31 million by 2028. It is estimated to grow at a CAGR of 13.6% from 2022 to 2028.
Increasing Prevalence of Colorectal Cancer Fuel South & Central America Colorectal Procedure Market
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 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.
South & Central America Colorectal Procedure Market Overview
South & Central America is segmented into Argentina, Brazil, and the Rest of South & Central America. The region's colorectal procedure market is expected to have growth opportunities owing to an aging population and an increasing number of colorectal cancers. The market is also attributed to grow in the region due to the rising advancement in technology to prevent incidences of colorectal cancers. Additionally, the rise in the development of the healthcare industry in the region is likely to create significant opportunities for market growth.
South & Central America Colorectal Procedure Market Revenue and Forecast to 2028 (US$ Million)
South & Central America Colorectal Procedure Market Segmentation
The South & Central America colorectal procedure market is segmented into product, surgery type, indication, end user, and country.
Based on product, the South & Central 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 South & Central America colorectal procedure market in 2022.
Based on surgery type, the South & Central 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 South & Central America colorectal procedure market in 2022.
Based on end user, the South & Central America colorectal procedure market is segmented into hospitals & clinics, surgery centers, and others. The hospitals and clinics segment held the largest share of the South & Central America colorectal procedure market in 2022.
Based on indication, the South & Central 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 South & Central America colorectal procedure market in 2022.
Based on country, the South & Central America colorectal procedure market is segmented into the Argentina, Brazil, and the Rest of South & Central America. The Rest of South & Central America dominated the South & Central America colorectal procedure market in 2022.
Ethicon (Johnson & Johnson Services, Inc.); Medtronic; B. Braun Melsungen AG; Cardinal Health Inc; Boston Scientific Corporation; Olympus Corporation are some of the leading companies operating in the South & Central America colorectal procedure market.
South & Central America Colorectal Procedure Market Strategic Insights
South & Central America Colorectal Procedure Market Report Highlights
| Report Attribute | Details |
| Market size in 2022 | US$ 664.91 Million |
| Market Size by 2028 | US$ 1,427.31 Million |
| CAGR (2022 - 2028) | 13.6% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Product
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Regions and Countries Covered
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| South and Central America | Brazil, Argentina, Rest of South and Central America |
| Market leaders and key company profiles |
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South & Central America Colorectal Procedure Market Country and Regional Insights
