Capsule Endoscopy Market: Information by Component (Capsule Endoscopy, Capsule Endoscopy Data Recorder and Capsule Endoscopy Workstations), Endoscope Type (Capsule Cystoscopies and Capsule Neuro-Endoscopes), Product (Small Bowel Capsule, Esophageal Capsule and Colon Capsule), Application (Obscure Gastrointestinal Bleeding (OGIB), Crohn’s Disease and Small Intestine Tumor), End User (Hospitals, Clinics and others) and Region (Americas, Europe, Asia-Pacific and Middle East & Africa) – Forecast till 2023
The global Capsule Endoscopy Market is expected to exhibit a strong 8.82% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global capsule endoscopy market is expected to rise to a valuation of USD 967.4 million by 2023, according to the MRFR report. The report presents a detailed analysis of the global capsule endoscopy market by providing readers with a comprehensive overview of the market’s historical trajectory. The leading drivers and restraints affecting the global capsule endoscopy market are assessed in detail in the report. The historical impact of these drivers and restraints is analyzed in context of the current impact of these factors and projections are made for the likely impact of these drivers and restraints over the forecast period. Various components of the global capsule endoscopy market are also studied in the report and projections are made for the growth trajectory of each distinct component. The various segments and sub-segments within the global capsule endoscopy market are studied in detail in the report. The study also makes a detailed analysis of the major players operating in the global capsule endoscopy market and provides a detailed look at the various competitive strategies employed by players in the global capsule endoscopy market. Likely future conditions with respect to the competitive landscape of the market are also explained in detail in the report.
The growing prevalence of lower GI conditions is likely to be the major driver for the global capsule endoscopy market over the forecast period. Capsule endoscopy is a medical procedure used for imaging, biopsy, and medicine release operations in the small and large intestine. It can detect polyps, tumors, and other medical aberrations in the abdominal tract through imaging done by a mounted camera. The effective imaging provided by capsule endoscopy has driven its demand in the healthcare sector. The growing prevalence of intestinal cancer and intestinal polyps is likely to drive the demand for capsule endoscopy procedures over the forecast period.
Increasing technological sophistication in capsule endoscopes, bringing about advanced functionalities such as biopsy and site-specific medicine release, is also likely to be a key driver for the global capsule endoscopy market over the forecast period. The growing medical devices industry is likely to fund significant technological development in capsule endoscopes in the coming years, leading to a growing demand from the global capsule endoscopy market over the forecast period.
Key players in the global capsule endoscopy market include AccuRead Endoscopy Inc., RF Co. Ltd., Fujifilm Holding Corporation, CapsoVision Inc., Chongqing Jinshan Science & Technology, IntroMedic, Olympus Corporation, and Medtronic plc.
In November 2019, Nuffield Health Cardiff Bay Hospital in Cardiff installed a new capsule endoscopy machine.
In June 2018, CapsoVision, Inc. announced a distribution partnership with PENTAX Medical to sell CapsoCam Plus, the only capsule endoscope that includes four cameras and offers 360° panoramic lateral imaging of the small bowel.
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The global capsule endoscopy market has been segmented into component, endoscope type, product, application, end user, and region.
By component, the market has been divided into capsule endoscope, capsule endoscopy data recorder, and capsule endoscopy workstations.
Based on the endoscope type, the market has been segregated into capsule cystoscopies and capsule neuro-endoscopes.
Based on the product, the market has been segmented into small bowel capsule, esophageal capsule, and colon capsule.
Based on application, the market has been categorized as obscure gastrointestinal bleeding (OGIB), Crohn’s disease, and small intestine tumor.
By end user, the market has been segmented into hospitals, clinics, and others. The hospitals segment holds the largest share in the global capsule endoscopy market.
The Americas is expected to dominate the global capsule endoscopy market over the forecast period, followed by Europe, due to the growing prevalence of intestinal conditions in the region. The growing development of biosimilars and other drugs for the treatment of intestinal conditions is also likely to be a major driver for the capsule endoscopy market in the region. Asia Pacific is expected to grow at the highest rate, led by China, where the healthcare sector has grown rapidly over the last few years.
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