Virtual Colonoscopy Software Market Size, Emerging Trends, Growth Rate, Business Opportunities And Forecast To 2033

The virtual colonoscopy software market size has grown strongly in recent years. It will grow from $31.19 billion in 2023 to $33.69 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to advancements in imaging technology, aging population, remote consultations, reimbursement policies.

The virtual colonoscopy software market size is expected to see strong growth in the next few years. It will grow to $44.23 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to global healthcare access, personalized screening, telemedicine, patient education and awareness. Major trends in the forecast period include ai-assisted image analysis, improved 3d visualization, patient-centered care, elevated privacy and data security.

Market Overview -
Virtual colonoscopy software refers to scanning and advanced imaging software that utilizes computed tomography to create 2D and 3D images of the colon. Virtual colonoscopy software plays a significant role in colorectal cancer screening and detection, offering a less invasive alternative to traditional colonoscopy.

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Impact Of Rising Colorectal Cancer Incidence On The Virtual Colonoscopy Software Market
The increasing incidents of colorectal cancer are expected to propel the growth of the virtual colonoscopy software market going forward. Colorectal cancer is a type of cancer that develops in the tissues of the colon or rectu*m. Virtual colonoscopy software plays an essential role in colorectal cancer by providing a minimally invasive and non-invasive method for screening and detecting abnormalities in the colon. For instance, in September 2022, according to the International Agency for Research on Cancer, a France-based government agency, it was estimated that by 2040, there would be 3.2 million new cases and 1.6 million deaths attributed to colorectal cancer each year, representing a significant increase from 1.9 million newly diagnosed patients and 930,000 deaths in 2020. Therefore, increasing incidents of colorectal cancer are driving the growth of the virtual colonoscopy software market.

Competitive Landscape -
Major players in the virtual colonoscopy software market are Hitachi Medical Corporation, Medtronic PLC, Siemens Healthineers, Koninklijke Philips N.V., Boston Scientific Corporation, Olympus Corporation, GE HealthCare Technologies Inc., Hologic Inc., Stony Brook University, Carestream Health, Toshiba Medical Systems Corporation, Barco NV, Agfa Healthcare, Cybernet Systems Co. Ltd., Intelerad Medical Systems Incorporated, Canon Medical Informatics Inc., TeraRecon Inc., iCAD Inc., Median Technologies, LEXION Medical LLC, Mentice Inc., Pie Medical Imaging, Ziosoft USA Inc., EDDA Technology Inc., Intrasense SA, Volumina Medical, Medweb, Viatronix Inc., Voxel-Q.

Advancements In Ai-Based Endoscopy Transforming The Virtual Colonoscopy Software Market
Major companies operating in the virtual colonoscopy software market are focused on adopting advanced technical solutions, such as AI-based endoscopy to sustain their position in the market. AI-based endoscopy refers to the use of artificial intelligence (AI) technology in gastrointestinal (GI) endoscopy procedures. For instance, in August 2022, Medtronic PLC, a US-based medical device company, launched the GI Genius module, an artificial intelligence-driven endoscopy module for treating colorectal cancer. This module uses artificial intelligence and deep learning algorithms to assist physicians in detecting and treating colorectal cancer. It provides enhanced visualization during colonoscopy and uses AI software to highlight suspicious polyps in real-time. The module is a significant development that can help with the early detection of colorectal cancer.

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Key Segments -
The virtual colonoscopy software market covered in this report is segmented -
1) By Product Type: Two Dimensional (2D); Three Dimensional (3D)
2) By Deployment: On-Premises; Cloud-based
3) By Application: Polyps; Crohn's Disease; Ulcerative Colitis; Colorectal Cancer (CRC); Diverticulosis; Stenosis
4) By End-User: Hospitals; Clinics; Diagnostic Centers; Ambulatory Surgical Centers

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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