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.
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US Colonoscopy Devices Market Segmentation
By Type
- Conventional Colonoscopy
- Virtual Colonoscopy
By End-User
- Hospitals
- Clinics
- Others
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