Global Capsule Endoscopy Market

Global Capsule Endoscopy Market Size, Share, Growth Analysis, By Product(Oesophageal Capsule, Small Bowel Capsule), By Application(Obscure Gastrointestinal Bleeding, Crohn’s Disease), By End User(Hospitals, Diagnostic Laboratories) - Industry Forecast 2023-2030


Report ID: SQSG35A2027 | Region: Global | Published Date: December, 2022 | Pages: 165 | Tables: 90 | Figures: 76

Global Capsule Endoscopy Market Insights

Global Capsule Endoscopy Market size was valued at USD 711.17 million in 2021 and is poised to grow from USD 1088 million in 2022 to USD 1985.52 million by 2030, growing at a CAGR of 12.4% in the forecast period (2023-2030).

Modern endoscopy is quick, generates fine images, and has low risks, making it very useful in many areas of medicine. Tens of millions of patients each year have endoscopies. A variety of chronic diseases, including cancer and gastrointestinal disorders, are on the rise in both developed and developing nations, and this is one of the key factors propelling the expansion of the global capsule endoscopy market.

The demand for endoscopic devices and electronic capsules has also increased due to the rise in the use of minimally invasive surgical procedures, which are primarily used to diagnose gastrointestinal disorders like OGIB (Obscure GI Tract Bleeding), crohn's disease, cancer, and small intestine tumors. Endoscopes are minimally invasive medical devices inserted into body pores like the anus or mouth. For screening such gastrointestinal disorders, this endoscopy provides incredibly effective and quick results, increasing usage and fueling market expansion. For instance, the CDC estimates that 14.8 million people in the United States have ulcers. Around 5.9% of all adult patients with ulcers visit doctors with digestive system disorders as the primary diagnosis.

Additionally, there were about 2.5 million people in the U.S. who have inflammatory bowel disease in 2020. By 2030, the number of Americans with IBD is projected to reach about 3.5 million. As a result, the need for minimally invasive treatments has increased due to the rise in digestive-related disorders, which has accelerated the growth of the capsule endoscopy industry.

The development of hybrid imaging techniques, advancements in capsule endoscopy technology, and a rise in patient preference for advanced diagnostics are also propelling the expansion of the global capsule endoscopy market.

US Capsule Endoscopy Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot

Global Market Size

USD 711.17 million

Largest Segment

Hospitals

Fastest Growth

Hospitals

Growth Rate

12.4% CAGR

Global Capsule Endoscopy Market, 2021-2028 ($ Mn)
Country Share for North America Region- 2021 (%)
Global Capsule Endoscopy Market Size By End User, 2021-2028 ($ Mn)
Global Capsule Endoscopy Market Size By End User, 2021-2028 (%)

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Global Capsule Endoscopy Market Segmental Analysis

The global capsule endoscopy market is segmented based on product, application, end user, and region. Based on product, the capsule endoscopy market is segmented into capsule endoscopes and systems. Based on application, the capsule endoscopy market is segmented into obscure gastrointestinal bleeding, Crohn's disease, small intestine tumor. Based on end user, the capsule endoscopy market is segmented into hospitals, diagnostic laboratories, specialty clinics. Based on region, the capsule endoscopy market is categorized into North America, Europe, Asia-Pacific, and MEA.

The capsule endoscopes segment dominated the capsule endoscopy market

Based on product type, the capsule endoscopy market was dominated by the capsule endoscopes segment in 2020, accounting for 75.7% of the market share. During the forecast period, the capsule endoscopes market is predicted to increase at the highest rate. The advantages they offer in the diagnosis or detection of complex medical illnesses, like gastrointestinal disorders, cancer, Crohn's disease, and other small bowel disorders, are responsible for their large market share and growth rate. Furthermore, the rising preference of medical and healthcare professionals for using capsule endoscopy for faster and more accurate diagnosis is yet another factor boosting segment growth.

Moreover, the capsule endoscopes segment is segmented into types of capsules, such as small bowel, esophageal, and colon endoscopes. Small bowel capsules accounted for the largest capsule endoscopy market revenue share in 2020 due to their increasing use in the diagnosis and screening of medical diseases such inflammatory bowel disease, Crohn's disease, obscure GI tract bleeding (OGIB), and small bowel neoplastic lesions. The market for capsule endoscopy is also predicted to rise during the forecast period due to a growing preference for less intrusive screening methods. For instance, in September 2020, the FDA approved the use of CapsoVision's CapsoCam Plus, a small bowel capsule endoscope at home during the pandemic.

Capsule Endoscopy Market Analysis by application

The OGIB segment had the largest revenue share of 58.1% in 2020 due to the many benefits that capsule endoscopy offers in the diagnosis and detection of OGIB. The use of capsule endoscopes for OGIB is becoming more popular due to its various advantages such real-time imaging, picture capture, examination of the entire small intestine, and accurate and dependable results. The introduction of capsule-based endoscopic screening for OGIB as opposed to more traditional techniques, including double-balloon enteroscopy, is also changing trends and helping the segment's growth.

The segment for Crohn's disease is also predicted to expand significantly over the course of the forecast period as a result of an increase in the use of capsule endoscopes for the diagnosis of Crohn's disease. It is one of the most prevalent forms of inflammatory bowel disease (IBD), and the rising prevalence of IBD and Crohn's disease are expected to boost the capsule endoscopy market expansion. Canada has one of the highest incidence rates of IBD, including Crohn’s disease and ulcerative colitis. According to statistics from Crohn's and Colitis Canada, IBD affects about 270,000 people in the nation, of whom 135,000 have Crohn's disease. Additionally, it is predicted that by 2030, 400,000 Canadians would have been diagnosed with IBD, representing a 50% rise in the prevalence rate.

The hospitals sector dominated the market for capsule endoscopy in 2020

The hospitals sector dominated the market for capsule endoscopy in 2020 accounting for the highest revenue share with 47.8 %. It is linked to the hospitals' significantly higher adoption, utilisation, and use of capsule endoscopy services when compared to other healthcare systems. The government's generous reimbursement rules are also contributing to the capsule endoscopy market's expansion. Additionally, because hospitals are typically the principal healthcare providers in most nations, more screenings are conducted there, indicating increased adoption and demand.

Additionally, throughout the forecast period, the sector for ambulatory surgery centres/clinics is projected to increase at the highest rate. Minimal time required for capsule endoscopy screening procedures and faster results are the major factors expanding the demand for these procedures in the ambulatory surgical centres/clinics systems. It is further positively impacting the market growth.

Global Capsule Endoscopy Market By End User, 2021 (%)

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Global Capsule Endoscopy Market Regional Insights

North America region is expected to hold the largest market share in the global capsule endoscopy market

North America dominated the market in 2020 and held the largest share of the capsule endoscopy market due to rising preference for minimally invasive screening procedures, surge in technologically advanced products and systems, and improvement in healthcare infrastructure. It is projected that North America will continue to exhibit this trend throughout the forecast period. The market opportunity for capsule endoscopy systems is growing in the region as a result of increased awareness about early screening for diseases like gastrointestinal disorders, cancer, and other chronic problems. For instance, 75 million endoscopies are performed in the United States every year, with 68%, being gastrointestinal endoscopies. Also, in November, 2021, the US Food and Drug Administration (FDA) approved the PillCam Small Bowel 3 system for remote endoscopy procedures.

Asia Pacific is projected to have a significant CAGR of 10.3% in the global capsule endoscopy market from 2022-2028. The rapid growth in demand for capsule-based endoscopic technology for screening procedures in this region is responsible for this advancement. The market for capsule endoscopy is expanding quickly due to factors such as the region's strong economic growth, expanding healthcare infrastructure, rising elderly population, the existence of major competitors, and a constantly evolving start-up landscape. Additionally, the region's new businesses have been investing in R&D projects to create contemporary, improved devices. Untapped potential makes nations like China, Japan, and India likely to take centre stage in the region's development. The healthcare sectors have demonstrated a willingness to absorb Western technological innovations. Therefore, these factors are likely fuelling the market's regional growth.

Global Capsule Endoscopy Market By Geography, 2021-2028
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Global Capsule Endoscopy Market Dynamics

Capsule Endoscopy Market Driver

  • The global market for capsule endoscopy is projected to be driven by the increasing technical developments in endoscopic treatments.

The range of applications for capsule endoscopy systems, including those for colon disease, small bowel disease, and esophageal illness, has increased due to technological developments. Technological advancements have enhanced the traditional endoscopy's diagnostic, monitoring, and viewing capabilities. New varieties of capsule endoscopes, including those for the small intestine, colon, and oesophagus, have been developed as a result of advanced technologies. Product manufacturers are also developing user-friendly and high-resolution cameras with a 360-degree panoramic view. Endoscopy now has a high level of accuracy, safety, and precision thanks to advancements that would have been difficult to attain only a few years ago. The video scope and the capsule endoscope have replaced the fibreoptic endoscope (fiberscope) period recently. Also, in November, 2021, PillCam Small Bowel 3 system for remote endoscopy procedures. With the use of Amazon logistics and Medtronic's PillCam technology, the PillCam SB3 @HOME programme aims to give patients access to rapid, reliable results from the convenience of their own homes. The telehealth option PillCam SB3 @HOME allows for direct vision and monitoring of the small bowel. It can assist in identifying lesions that are missed by upper and lower endoscopy and may: indicate Crohn's disease, find hidden bleeding, or reveal the causes of iron deficiency anaemia (IDA).

Capsule Endoscopy Market Restraint

  • Limitations related to the application of capsule endoscopy are projected to restrain market expansion.

The market expansion of capsule endoscopy is hampered by some of its limitations, such as capsule retention and utilisation restricted to diagnostic purposes. Endoscopic retrieval or surgical excision may be necessary to reduce the chance of capsule retention. For instance, a study published in Annals of Translational Medicine found that about 2% of patients undergoing a small bowel capsule endoscopic surgery had capsule retention. This makes the use of capsule endoscopes difficult. Also, problems in some sections of the intestine are ignored due to the capsule's fast transit and blurry, unreadable images. Images may be distorted by food or stool residue. The main danger of capsule endoscopy is small bowel device retention. Patients who undergo the test to check for bleeding run a very low risk—between one and two percent—of bleeding. Patients with Crohn's disease may see a four to five percent increase in risk. However, it is projected that the retention rate would decrease with technology developments and better designed wireless capsules, which will spur the capsule endoscopy market expansion.

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Global Capsule Endoscopy Market Competitive Landscape

Due to the increasing demand for capsule-based endoscopes and endoscopic systems for various screening and diagnostic procedures, there is intense competition among the existing providers. The rivalry is also growing as a result of technological developments made in the field of endoscopy by important players. Prominent market players are taking steps to grow their R&D in the field of capsule-based endoscopic technologies, as well as strategic alliances with other market competitors through mergers and acquisitions, product launches, collaborations, and other activities. IntroMedic Co., Ltd., Olympus Corporation, Chongqing Jinshan Science & Technology (Group) Co., Ltd., RF System lab, and CapsoVision are a few of the key players in the capsule endoscopy market.

Capsule Endoscopy Market Top Players Company Profiles

  • Medtronic
  • Olympus Corporation
  • IntroMedic Co., Ltd.
  • Fujifilm Holding Corporation
  • CapsoVision, Inc.
  • RF System lab
  • Given Imaging Ltd. (A subsidiary of Medtronic)
  • Chongqing Jinshan Science & Technology (Group) Co., Ltd.
  • Intromedic
  • RF System Lab
  • Check-Cap
  • Medisafe Distribution Inc.
  • Jinshan Science & Technology Group Co., Ltd.
  • CapsoVision
  • Covidien Ltd.
  • Stryker Corporation
  • EndoChoice, Inc.
  • Boston Scientific Corporation
  • Pentax Medical (Hoya Corporation)
  • SMART Medical Systems Ltd.

Capsule Endoscopy Market Recent Development

  • In November 2021, Medtronic plc announced FDA approval for its PillCam equipment for remote endoscopic treatments. The PillCam SB3 program combines the company’s PillCam technologies with Amazon logistics, aiming to provide customers with rapid and accurate findings from the comforts of home.
  • In February 2020, Medtronic announced its partnership with Amazon for home delivery of its capsule endoscope-PillCam Genius. It will help in increasing its penetration at a global level and enhancing patient comfort and satisfaction.
  • In January 2020, a new clinical trial was initiated to assess the new Artificial Intelligence technique which can help the medical experts check each part of the gastric during the capsule endoscopy. The AI has been designed to help in enhancing the quality of Magnet Controlled Endoscopy. The Title of the clinical trial is registered as ‘Computer Assisted Quality-monitoring for Magnet-controlled Capsule Endoscopy’.

Global Capsule Endoscopy Key Market Trends

  • Increase in Gastrointestinal Disorders Worldwide to Drive Global Capsule Endoscopy Market Growth - Due to a variety of environmental factors as well as a shift in people's overall lifestyles, medical illnesses such gastrointestinal disorders, inflammatory bowel diseases, and colorectal cancer have developed dramatically in recent years. Globally, the number of cases of colorectal cancer is rising. The second most prevalent disease to cause death and the third most frequently diagnosed cancer is colorectal cancer. The death rate linked to colorectal cancer can be significantly decreased by screening and increased awareness. Additionally, GI problems like CRC, inflammatory bowel disease, and appendicitis are more likely to develop as people age; for this reason, screening is crucial to prevent complications and further development of GI disorders. According to the National Colorectal Round Table, screening at age of 50 can prevent 230,000 deaths from colorectal cancer. The need for capsule endoscopy is predicted to rise significantly in the upcoming years due to the rise in these medical disorders. The standard procedure for detecting colorectal cancer is a colonoscopy. However, capsule endoscopy is being used more frequently as a result of the limitations of colonoscopy and the rising need for minimally invasive procedures. A non-invasive wireless diagnostic technique called capsule endoscopy gives doctors a thorough view of the small intestine. The use of technology has completely changed how small intestine problems like cancer, inflammatory bowel disease, celiac disease, and mysterious gastrointestinal bleeding are diagnosed and treated.

Global Capsule Endoscopy Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates, and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.

According to our analysis, due to the rise in demand for less invasive diagnostic procedures, the global capsule endoscopy market is expected to experience considerable global growth over the forecast period. Rise in older population, prevalence of cancer, and the launch of more advanced capsules are the main factors fuelling the market's expansion. The market's expansion is hampered by the high cost of treatments, endoscopy equipment, a lack of reimbursement, and the possibility of capsule retention, which may necessitate endoscopic retrieval or, less frequently, surgical excision. As a result of a rise in research and development operations by major market participants, several novel and technologically improved items instead become commercially successful during the forecasted period.

Report Metric Details
Market size value in 2021 USD 711.17 million
Market size value in 2030 USD 1088 million
Growth Rate 12.4%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Million
Segments covered
  • Product
    • Oesophageal Capsule, Small Bowel Capsule, Colon Capsule
  • Application
    • Obscure Gastrointestinal Bleeding, Crohn’s Disease, Small Intestine Tumor
  • End User
    • Hospitals, Diagnostic Laboratories, Specialty Clinics
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Medtronic
  • Olympus Corporation
  • IntroMedic Co., Ltd.
  • Fujifilm Holding Corporation
  • CapsoVision, Inc.
  • RF System lab
  • Given Imaging Ltd. (A subsidiary of Medtronic)
  • Chongqing Jinshan Science & Technology (Group) Co., Ltd.
  • Intromedic
  • RF System Lab
  • Check-Cap
  • Medisafe Distribution Inc.
  • Jinshan Science & Technology Group Co., Ltd.
  • CapsoVision
  • Covidien Ltd.
  • Stryker Corporation
  • EndoChoice, Inc.
  • Boston Scientific Corporation
  • Pentax Medical (Hoya Corporation)
  • SMART Medical Systems Ltd.
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Capsule Endoscopy Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Capsule Endoscopy Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Capsule Endoscopy Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Capsule Endoscopy Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Capsule Endoscopy Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Capsule Endoscopy Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

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FAQ's

Global Capsule Endoscopy Market size was valued at USD 711.17 million in 2021 and is poised to grow from USD 1088 million in 2022 to USD 1985.52 million by 2030, growing at a CAGR of 12.4% in the forecast period (2023-2030).

Due to the increasing demand for capsule-based endoscopes and endoscopic systems for various screening and diagnostic procedures, there is intense competition among the existing providers. The rivalry is also growing as a result of technological developments made in the field of endoscopy by important players. Prominent market players are taking steps to grow their R&D in the field of capsule-based endoscopic technologies, as well as strategic alliances with other market competitors through mergers and acquisitions, product launches, collaborations, and other activities. IntroMedic Co., Ltd., Olympus Corporation, Chongqing Jinshan Science & Technology (Group) Co., Ltd., RF System lab, and CapsoVision are a few of the key players in the capsule endoscopy market. 'Medtronic', 'Olympus Corporation', 'IntroMedic Co., Ltd.', 'Fujifilm Holding Corporation', 'CapsoVision, Inc.', 'RF System lab', 'Given Imaging Ltd. (A subsidiary of Medtronic)', 'Chongqing Jinshan Science & Technology (Group) Co., Ltd.', 'Intromedic', 'RF System Lab', 'Check-Cap', 'Medisafe Distribution Inc.', 'Jinshan Science & Technology Group Co., Ltd.', 'CapsoVision', 'Covidien Ltd.', 'Stryker Corporation', 'EndoChoice, Inc.', 'Boston Scientific Corporation', 'Pentax Medical (Hoya Corporation)', 'SMART Medical Systems Ltd.'

The global market for capsule endoscopy is projected to be driven by the increasing technical developments in endoscopic treatments.

Increase in Gastrointestinal Disorders Worldwide to Drive Global Capsule Endoscopy Market Growth - Due to a variety of environmental factors as well as a shift in people's overall lifestyles, medical illnesses such gastrointestinal disorders, inflammatory bowel diseases, and colorectal cancer have developed dramatically in recent years. Globally, the number of cases of colorectal cancer is rising. The second most prevalent disease to cause death and the third most frequently diagnosed cancer is colorectal cancer. The death rate linked to colorectal cancer can be significantly decreased by screening and increased awareness. Additionally, GI problems like CRC, inflammatory bowel disease, and appendicitis are more likely to develop as people age; for this reason, screening is crucial to prevent complications and further development of GI disorders. According to the National Colorectal Round Table, screening at age of 50 can prevent 230,000 deaths from colorectal cancer. The need for capsule endoscopy is predicted to rise significantly in the upcoming years due to the rise in these medical disorders. The standard procedure for detecting colorectal cancer is a colonoscopy. However, capsule endoscopy is being used more frequently as a result of the limitations of colonoscopy and the rising need for minimally invasive procedures. A non-invasive wireless diagnostic technique called capsule endoscopy gives doctors a thorough view of the small intestine. The use of technology has completely changed how small intestine problems like cancer, inflammatory bowel disease, celiac disease, and mysterious gastrointestinal bleeding are diagnosed and treated.

North America region is expected to hold the largest market share in the global capsule endoscopy market

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Global Capsule Endoscopy Market

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