The Virtual Colonoscopy Software Market is increasing persistently because of the rise in disease and death from several chronic diseases such as rectal cancer, colon cancer, and other GI bleeding-related disorders which has surged the incidence of diagnostic screening procedures of different intestinal diseases. Virtual colonoscopy is significant as it can help avert colorectal cancer by identifying and removing polyps before they become cancerous.
Data Bridge Market Research analyses that the virtual colonoscopy software market is expected to reach USD 51.30 billion by 2030, which is USD 31 billion in 2022, and is expected to undergo a CAGR of 6.50% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Virtual colonoscopy software is a computer program allowing users to observe their colons' images through a virtual endoscope. Virtual colonoscopy software is widely used to create a 3-dimensional image of the inside of the colon. This image is very useful in the identification of polyps and other abnormalities. Compared to a regular colonoscopy, this procedure is non-invasive.
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Virtual Colonoscopy Software Market Dynamics
Drivers
- Increasing Awareness About The Advantages of Virtual Colonoscopy
There has been a rising awareness among the population about the several benefits of virtual colonoscopy over traditional methods such as fecal occult blood testing (FOBT) and sigmoidoscopy or colonoscopy screening procedures for the detection of early signs of colorectal cancer. A virtual colonoscopy provides numerous advantages compared to traditional screening methods such as lower cost, reduced patient discomfort, shorter examination time, which are boosting its adoption globally.
- Rising Prevalence of Colorectal Cancer
The occurrence of colorectal cancer is growing at an alarming rate worldwide. This is mainly due to changing lifestyles and dietary habits. There have been approximately 151,030 cases in 2022 worldwide. During the period of 2015-2019, the rate of new cases of colorectal cancer was around 37.7 per 100,000 men and women every year. The mortality rate was almost 13.1 per 100,000 men and women per year. This number is projected to rise in the coming years because of the increasing population and aging. Therefore, there is a growing demand for virtual colonoscopy software since it provides a non-invasive substitute for detecting early signs of this deadly disease.
Opportunities
- Increased Demand of 2-D Imaging
2D Virtual colonoscopy software is a kind of medical imaging software that creates a two-dimensional image of the inside of the human colon. This image can be very helpful for physicians, doctors to diagnose and treat diseases in the colon. This technology has been about for more than 10 years but only recently has it started attracting popularity because of its accuracy and efficiency.Thus, this helps in creating much opportunities for the market growth.
Global Virtual Colonoscopy Software Market Scope
The virtual colonoscopy software market is segmented on the basis of product type, application, and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- 2D
- 3D
Application
- Polyps
- Crohn’s Disease
- Ulcerative Colitis
- CRC
End-User
- Hospital and Clinics
- Diagnostic Laboratories
- Others
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Virtual Colonoscopy Software Regional Analysis/Insights
The virtual colonoscopy software market is analyzed and market size insights and trends are provided by product type, application and end-user as referenced above.
The countries covered in the virtual colonoscopy software market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the virtual colonoscopy software market due to the rapidly growing pccurences of colorectal cancer and other colon related diseases in this particular region.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 due to the increasing adoption of colposcopies in developing countries such as India and China.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The virtual colonoscopy software market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for virtual colonoscopy software market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the virtual colonoscopy software market. The data is available for historic period 2011-2021.
Competitive Landscape and Global Virtual Colonoscopy Software Market Share Analysis
The virtual colonoscopy software market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to virtual colonoscopy software market.
Some of the major players operating in the virtual colonoscopy software market are:
- General Electric (U.S.)
- Siemens Healthcare GmbH (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- Viatronix, Inc. (U.S.)
- Terarecon, Inc (U.S.)
- Carestream Health (U.S.)
- FUJIFILM Corporation (Japan)
- Canon Medical Informatics, Inc (U.S.)
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Research Methodology:
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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