Product ID: SQSG35A2027
Global Capsule Endoscopy Market Size, Share, Growth Analysis, By Product(Capsule Endoscope, Work Stations & Recorders), By Application(Small Intestine Disorder, Esophageal Disorder), By End User(Hospitals, Diagnostic Laboratories) - Industry Forecast 2024-2031
Report ID:
SQSG35A2027 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
89 |
Figures:
76
Global Capsule Endoscopy Market Insights
Global Capsule Endoscopy Market size was valued at USD 799.36 million in 2019 and is poised to grow from USD 898.48 million in 2023 to USD 2,288.95 million by 2031, growing at a CAGR of 12.4% in the forecast period (2024-2031).
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 2019. 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.
Global Capsule Endoscopy Market Report Snapshots
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