$3000
$1800
The Middle East and Africa colonoscopes market is expected to reach US$ 80.96 million by 2028 from an estimated value of US$ 67.24 million in 2021; it is likely to grow at a CAGR of 2.7% from 2021 to 2028.
The factors attributed to driving the growth of market are the increasing prevalence of colorectal cancer, technological advancements in colonoscopy devices and growing research activities to extend its applications in therapeutic areas and development of robotic colonoscopes. However, the availability of alternative diagnostic tests for rectal diseases may hamper the growth of the Middle East and Africa colonoscopes market in the forecast period.
The success rate of diagnosing colorectal conditions, including cancer, has increased with advancements in technologies. Flexible endoscopy is an effective method enabling the early diagnosis and treatment of gastrointestinal cancer, making it a popular choice for screening. However, a large population that benefits from endoscopic colorectal cancer screening feels skeptical about undergoing the procedure. This is mainly ascribed to psychological barriers due to the indignity of the process, fear of procedure-related pain, discomfort in bowel preparation, and potential need for sedation, which underlines an urgent need for new technologies for addressing these issues. To significantly reduce the adenoma “miss rate” of standard forward-viewing colonoscopy, manufacturers are continuously striving to improve the current colonoscopy techniques, by exploring more advanced optics and wider-angle visualization tools along with a user-friendly, intuitive endoscopic platform interface. The introduction of such technologies is fuelling the colonoscope market growth. Also, march is marked as the National Colorectal Awareness Month, dedicated to encouraging patients, survivors, and caregivers to share their stories, advocate for colorectal cancer prevention, and inform others about the importance of early detection. Thus, growing awareness about the effect of colon disorders will increase the adoption of colonoscopy tests during the forecast period, thus offering lucrative opportunities to the market players.
The coronavirus has had a significant impact in the Middle East and Africa. COVID-19 has been linked to poorer outcomes in cancer patients. Saudi Arabia has seen multiple Middle East respiratory syndrome coronavirus (MERS-CoV) outbreaks that affected the continuity of cancer care. Colon cancer (CRC) is the fifth most common cancer in Lebanon and the country with the second-highest incidence of the disease in the Middle East and North Africa (MENA) region, with more than 90% of colorectal cancer cases occurring in people aged 50 and over. The pandemic has increased demand for medical devices, which can use in-home care. The region is witnessing an increase in the number of patients being admitted to intensive care units (ICU), an increasing number of drugs that pose multiple diagnostic and therapeutic challenges to strained health systems, leading to an increase in medical devices. There have been changes in staff assignments and working hours and the implementation of strict infection control and social distancing measures. However, segments of the medical industry, including colonoscopes devices, suffered losses during the COVID-19 pandemic due to limited production and supply chain facilities. This pandemic is affecting the business operations of the various key players operating in the colonoscopes market in the region hampering the market growth.
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MIDDLE EAST AND AFRICA COLONOSCOPES MARKET SEGMENTATION
By Product Type
- Fiber Optic Colonoscopy Devices
- Video Colonoscopy Devices
By Application
- Colorectal Cancer
- Lynch Syndrome
- Ulcerative Colitis
- Crohn's Disease
- Polyp
By End User
- Hospitals
- Ambulatory Surgery Center
- Other End Users
By Country
- UAE
- South Africa
- Saudi Arabia
- Rest of Middle East and Africa
Company Profiles
- Fujifilm Corporation
- Olympus Corporation
- KARL STORZ SE & Co. KG
- PENTAX Medical
- Boston Scientific Corporation
- Consis Medical
- GI-View
- SonoScape Medical Corp.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
- Fujifilm Corporation
- Olympus Corporation
- KARL STORZ SE & Co. KG
- PENTAX Medical
- Boston Scientific Corporation
- Consis Medical
- GI-View
- SonoScape Medical Corp.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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