Report Code : A00574
Increase in geriatric population rise in demand for minimally invasive diagnostic procedures, and surge in introduction of technologically advanced capsules fuel the growth of the global capsule endoscopy systems market.
Onkar Sumant - Manager
Life Sciences at Allied Market Research
According to a new report published by Allied Market Research, titled, “Capsule Endoscopy System Market," The capsule endoscopy system market was valued at $616.57 million in 2020, and is estimated to reach $2.0 billion by 2030, growing at a CAGR of 12.4% from 2021 to 2030.
Capsule endoscopy is a non-invasive procedure that permits a comprehensive examination of the gastrointestinal tract utilizing a video capsule, which is equipped with a camera, battery, transmitter, and light source. The images captured by video capsules in the esophagus, stomach, and small intestine are used to diagnose gastrointestinal disease.. Advanced technologies develop newer types of capsule endoscopes, which include small bowel capsule endoscope, colon capsule endoscope, and esophagus capsule endoscopes . Advancement in technology have brought a high level of accuracy, safety, and precision to endoscopy, which was critical to achieve.
Increase in prevalence of cancer, growth in global geriatric population , rise in demand for minimally invasive diagnostic procedures, and surge in introduction of technologically advanced capsules drive the market growth However, high cost of treatments and endoscopy equipment, limited reimbursement, and risk of retention of the capsule, which may require endoscopic retrieval or rarely surgical resection hinder the capsule endoscopy system market growth. Conversely, continuous product innovations and introduction of capsule endoscopy in untapped countries are expected to provide lucrative growth opportunities for key market players.
The global capsule endoscopy systems market is segmented on the basis of component, disease, and region. According to component, it is divided into capsule endoscopes and recorders & workstations. Depending on disease, it is divided into small intestine disorder, esophageal disorder, and colonic disorder. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA).
The major companies profiled in the report include Given Imaging (Medtronic), IntroMedic Co., Ltd., Olympus Corporation, Chongqing Jinshan Science & Technology (Group) Co., Ltd., RF System lab, CapsoVision, Shengxian Minimal Invasive Inc., Check -Cap, Accuread Endoscopy Inc., Fujifilm Holding Corporation, and Anhan Technology (wuhan) co., Ltd. These major players have adopted agreement as key developmental strategy to improve the product portfolio of the ear infection treatment market.
On the basis of component, in capsule endoscopy system market size the capsule endoscopes segment is expected to dominate the market throughout the forecast period. In addition, this segment register the highest CAGR of 12.7% during the capsule endoscopy system market forecast period, owing to potential to fulfil the need of minimally invasive tools to explore the gastrointestinal tract and allow the visualization of inaccessible parts. Furthermore, capsule endoscopy is popular among medical and healthcare experts, owing to its property of obtaining a faster and more accurate diagnosis.
Depending on disease in capsule endoscopy system market analysis, the small intestine disorder segment accounted for a major capsule endoscopy system market share of the market share in the capsule endoscopy systems market in 2020. This segment is expected to exhibit a prominent growth rate, owing to the large patient base suffering from small bowel disease. In addition, it has an establish reimbursement policies in developed and developing economies.
Region wise in capsule endoscopy system industry, North America accounted for more than 12.3% of the global market share in 2020, and is expected to remain dominant throughout the forecast period owing due to rise in preference for minimally invasive screening procedures, surge in technologically enhanced products and systems, and increase in construction of healthcare infrastructure. Asia-Pacific is projected to register the highest CAGR of 13.2% during the forecast period, owing to improving healthcare infrastructure, rising geriatric population ,and significant economic development.
The major companies profiled in the capsule endoscopy system industry report include in Given Imaging (Medtronic), IntroMedic Co., Ltd., Olympus Corporation, Chongqing Jinshan Science & Technology (Group) Co., Ltd., RF System lab, CapsoVision, Shengxian Minimal Invasive Inc., Check -Cap, Accuread Endoscopy Inc., Fujifilm Holding Corporation, Anhan Technology (wuhan) co., Ltd.
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Capsule Endoscopy System Market By Component (Capsule Endoscope, Work stations and recorders), By Disease Type (Small Intestine Disorder, Esophageal disorder, Colonic disorder): Global Opportunity Analysis and Industry Forecast, 2021-2030
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