Global Capsule Endoscopy Market Share Estimated to Cross USD 982.83 Mn by 2030
Polaris Market Research recently published a research report on “Capsule Endoscopy Market Share, Size, Trends, Industry Analysis Report, By End-Use (Hospitals, Ambulatory Surgery Centers, Others); By Product (Capsule Endoscopes, Systems); By Type; By Application; By Region; Segment Forecast, 2022 – 2030” in its research database.
According to recent research study published by Polaris Market Research, the global capsule endoscopy market size & share is expected to register a CAGR of 8.8 percent and revenue is expected to increase from US $474.11 Million in 2021 to reach US $982.83 Million by 2030.
What is capsule endoscopy? How big is the capsule endoscopy market?
Capsule endoscopy is a non-invasive procedure that allows doctors to thoroughly examine the gastrointestinal tract in patients. Patients are instructed to consume a pill-sized endoscope and using the wireless, disposable device known as a video capsule, which is armed with a camera, battery, transmitter, and a light source. Doctors then capture pictures in the stomach esophagus through inserted video capsules, thereby helping in the diagnosis of gastrointestinal disorders. The battery of the capsule lasts for around 8 hours.
The capsule endoscopy system can also be used to detect other digestive disorders such as Crohn’s disease, celiac disease, and bleeding, among others. The American Cancer Society states that around 141,000 people were diagnosed with colorectal cancer in the US, and nearly 49,000 people died in 2011. Capsule endoscopy (CE) is emerging as an effective tool for the diagnosis of GI diseases such as Crohn’s disease, colorectal cancer, obscure gastrointestinal bleeding, polyposis syndromes, and small bowel tumors.
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Some of The Major Key Analysis Addressed In The Report:
- What will be the capsule endoscopy market size in near future with the top-most key vendors and regional analysis?
- Which are target audiences subjected to expanding high in the market?
- What are the new developing opportunities and challenges for business advancement?
- Who are the significant players confronting and developing in the capsule endoscopy market?
- Which are the leading countries in the capsule endoscopy market?
- What are market share estimates and forecasts for the capsule endoscopy market?
- What is the scenario of the market globally and in different regions?
Top Companies in the Global Market Are:
- Chongqing Jinshan Science & Technology (Group) Co. Ltd
- IntroMedic Co. Ltd.
- Olympus Corporation
- RF Co. Ltd.
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Capsule Endoscopy Market: Growth Drivers
The rising adoption of capsule endoscopies due to their benefits, such as painless visualization of gastrointestinal tract images, precise diagnosis, and faster results, is driving the growth of the global capsule endoscopy market. The growing prevalence of chronic diseases such as cancer and gastrointestinal diseases in developed and developing countries is the key factor fueling the market growth. In addition, capsule endoscopy comprises features including longer battery life, WiFi-enabled devices, easy transmission, larger frame rate, enhanced data storage capability, ergonomic designs, and improved image quality are also expected to favor the market growth during the forecast period. The increasing geriatric population is likely to boost the market growth over the upcoming years.
Moreover, rising technological developments and increasing investments in R&D by leading industry players are likely to surge the adoption of such advanced endoscopes. Also, rising demand for minimally invasive procedures as well as fair reimbursement policies for endoscopic approaches is expected to positively influence the growth of the global capsule endoscopy market.
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Capsule Endoscopy Market: Scope & Report Dynamics
|Market Outlook for 2030||USD 982.83 Million|
|Market Size 2021 Value||USD 474.11 Million|
|Expected CAGR Growth||8.8% from 2022 – 2030|
|Forecast Year||2022 – 2030|
|Top Market Players||CapsoVision, Chongqing Jinshan Science & Technology (Group) Co., Ltd, IntroMedic, Co. Ltd., Medtronic, Olympus Corporation, and RF Co., Ltd.|
|Segments Covered||By Product, By Application, By End-Use, By Type, By Region|
|Customization Options||Customized purchase options are available to meet your research needs. Explore customized purchase options|
Capsule Endoscopy Market: Report Segmentation
- Insight by Application
Based on the application, the market is segmented into OGIB (Obscure Gi Tract Bleeding), crohn’s disease, small intestine tumor, and others. Among these, the OGIB segment witnessed the largest market share in the global market. This contribution can be attributed to factors involving numerous benefits provided by capsule endoscopy in diagnosing and detecting OGIB. Other benefits such as real-time visualization, image capturing, analysis of the whole small intestine, and reliable and precise results contribute to the increase in use of capsule endoscopes for OGIB. Moreover, the changing preferences related to the adoption of capsule-based endoscopy screening for OGIB instead of conventional methods, such as double-balloon enteroscopy, are also accelerating the segment growth.
- Insight by Product
Based on Product, the market is categorized into small bowel, esophageal, and colon. The small bowel capsule segment accounted for the largest market share owing to growing usage in multiple medical conditions such as small bowel neoplastic lesions, inflammatory bowel disease, suspected Crohn’s disease, and obscure GI tract bleeding are fueling the demand for this segment.
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Geographic Overview: Capsule Endoscopy Market
North America dominated the market with the largest revenue share due to a growing preference for minimally invasive procedures as well as the rising adoption of technologically enhanced products and systems. Also, developments in healthcare infrastructure are also accelerating market growth. Furthermore, increasing awareness among individuals regarding early diagnosis of cancer and other chronic conditions is also another key factor boosting the capsule endoscopy market growth in the region.
Asia Pacific is anticipated to account for a high CAGR in the global market during the forecast period. This progress can be attributed to the surge in demand for capsule-based endoscopy technology for screening operations in this region. Also, strong economic development in the area, growing healthcare infrastructure, increasing geriatric population, and the presence of big competitors along with a continuously developing start-up landscape are accelerating the growth of the capsule endoscopy market.
Browse the Detail Report “Capsule Endoscopy Market Share, Size, Trends, Industry Analysis Report, By End-Use (Hospitals, Ambulatory Surgery Centers, Others); By Product (Capsule Endoscopes, Systems); By Type; By Application; By Region; Segment Forecast, 2022 – 2030” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/capsule-endoscopy-market
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The market is primarily segmented based on product, application, end-use, type, and region.
Capsule Endoscopy Market: By Product Outlook
- Small Bowel
Capsule Endoscopy Market: By Application Outlook
- OGIB (Obscure Gi Tract Bleeding)
- Crohn’s Disease
- Small Intestine Tumor
Capsule Endoscopy Market: By End-Use Outlook
- Ambulatory Surgery Centers
Capsule Endoscopy Market: By Type Outlook
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