Global capsule endoscopy is set to grow due to the increasing prevalence of gastrointestinal disorders, colorectal carcinoma, increased demand for fast and accurate diagnostics tools and support from government initiatives. Capsule Endoscopy allows for painless visualization of the GI (gastrointestinal tract) images via a data recorder. The market for capsule endoscopy is expected to grow due to the introduction of more advanced capsules, such as those with longer battery lives and that are WiFi-enabled. Global capsule endoscopy was valued at USD 454.7 Million in 2014. It is forecast to grow at 8.7% CAGR over the forecast period.
Global capsule endoscopy market by product, 2012-2022 (USD Million).
This market will continue to grow by incorporating more geriatrics into its population over the next seven year. Aging can increase the likelihood of GI disorders like CRC, inflammatory bowel diseases, and appendicitis. The W.H.O predicts that the global population for the 65-year-old and older age group will increase from 7% in 2000, to 16% by 2050. This will lead to a significant increase in the patient base and thereby drive the growth of capsule endoscopy.
Segmenting the capsule market for capsule endoscopy is an effective way to analyze it. The market share for small bowel capsules was the highest as of 2014. This is due to their increasing use in multiple medical conditions like small bowel neoplastic lesion, inflammatory bowel disease and suspected Crohn's. The colon capsule market is expected to experience significant growth during the forecast period. According to the CDC, colorectal cancer is responsible for nearly 608,000 deaths each year worldwide and more than 14.5 million colonoscopies performed annually. The CDC also points out that there is a growing demand for a less invasive diagnostic platform.
In 2014, the most popular segment in the capsule endoscopy market was the wireless capsule. The market for wireless capsule endoscopy is booming due to the increasing use of wireless capsules in small intestine, colon, and esophagus. Also, favorable reimbursement policies are important drivers. The future prospects for the wireless capsule market are promising due to technologically advanced capsules that offer a 360-degree panoramic view, increased battery life, improved data storage capabilities, easier transmission and a higher frame rate.
Obscure gastrointestinal bleeding was the most popular segment of the capsule endoscopy industry in 2014. A U.S. National Library of Medicine research found that capsule endoscopy is more effective than the use of barium Xrays to diagnose OGIB. Capsule endoscopy can be used to diagnose occult bleeding in a duodenum, as well as small bowel cancers and Crohn's disease. Capsule endoscopy offers many advantages, including real-time visualization of small intestines and faster diagnosis. This is why healthcare professionals and patients are switching from double-balloon and other conventional methods to capsule enteroscopy. It is expected to be a significant growth market for this segment. The OGIB segment, which is growing at a similar pace to Crohn's disease, is expected to see growth because of the rising prevalence rate of the target disease and the adoption of capsule endoscopy as a preferred diagnostic method.
In 2014, North America was the largest region market. In 2014, North America was the largest regional market. This is due to the rising incidence of GI disorders and colorectal carcinomas, advanced healthcare infrastructure, favorable reimbursement policies, as well as the growing adoption of minimally invasive capsule entomoscopy by patients. Asia-Pacific, on the other hand, is expected to grow at an impressive rate over the forecast period due to increased patient awareness, disposable income, improved healthcare infrastructure, and large untapped opportunities in cancer screening.
Olympus Corporation, IntroMedic Co., Ltd., Chongqing Jinshan Science & Technology Group (Co., Ltd.), Fujifilm Holding Corporation, CapsoVision, RF System lab are the key players in this market. Manufacturers of capsule endoscopy equipment have identified new product development as one of their most sustainable strategies. The use of magnetic and hybrid capsules that allow for better control and enhanced imagery are just a few of the ongoing research attributes that will drive market growth and intensify the competition over the forecast period.
b. Global capsule endoscopy market was valued at USD 687.0 Million in 2019, and is forecast to grow to USD 747.7 million by 2020.
What is the growth rate of the capsule endoscopy industry?b. Global capsule endoscopy is expected to grow at 8.7% compound annual growth rate between 2019 and 2022, reaching USD 886.3 Million by 2022.
Which segment had the largest market share in capsule endoscopy?b. North America was the market leader in capsule endoscopy with 57.24% of the market share in 2019. This is due to the rising incidence rate of GI disorders & colorectal carcinoma, advanced healthcare infrastructure, favorable reimbursement policies, and patients' increasing acceptance of minimally invasive capsule-endoscopy.
What are the top players in the capsule endoscopy marketb. Among the key players in the capsule endoscopy market are Given Imaging, Olympus Corporation, IntroMedic Co., Ltd., Chongqing Jinshan Science & Technology Group Co., Ltd., Fujifilm Holding Corporation, CapsoVision, and RF System Lab.
What are the key factors that drive the capsule endoscopy industry?b. The market for capsule endoscopy is growing due to the increasing prevalence of gastrointestinal disorders, colorectal carcinoma, the need for more accurate diagnostic tools and the presence supportive government initiatives, as well as a rising global geriatric population.
Up Market Research published a new report titled “Capsule Endoscopy Market research report which is segmented by Product (Esophageal, Small Bowel, Colon), by Application (Small Intestine Tumors, Crohn’s, OGIB), by Accessory (Workstation & Recorder, Wireless Capsule), By Players/Companies Olympus Corporation, CapsoVision, the use of magnetic & hybrid capsules enabling better control and enhanced imaging are few other ongoing research attributes, Ltd, Chongqing Jinshan Science & Technology (Group) Co, RF System lab New product development aimed at widening the application base is identified as one of the most viable sustainability strategies adopted by the manufacturers of capsule endoscopy devices Additionally, Fujifilm Holding Corporation, Ltd, expected to propel market growth and intensify competition during the forecast period, Given Imaging, IntroMedic Co”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Capsule Endoscopy Market Research Report |
By Product | Esophageal, Small Bowel, Colon |
By Application | Small Intestine Tumors, Crohn’s, OGIB |
By Accessory | Workstation & Recorder, Wireless Capsule |
By Companies | Olympus Corporation, CapsoVision, the use of magnetic & hybrid capsules enabling better control and enhanced imaging are few other ongoing research attributes, Ltd, Chongqing Jinshan Science & Technology (Group) Co, RF System lab New product development aimed at widening the application base is identified as one of the most viable sustainability strategies adopted by the manufacturers of capsule endoscopy devices Additionally, Fujifilm Holding Corporation, Ltd, expected to propel market growth and intensify competition during the forecast period, Given Imaging, IntroMedic Co |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 225 |
Number of Tables & Figures | 158 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Product (Esophageal, Small Bowel, Colon), by Application (Small Intestine Tumors, Crohn’s, OGIB), by Accessory (Workstation & Recorder, Wireless Capsule).
Capsule Endoscopy Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Capsule Endoscopy Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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