Global Capsule Endoscopy Market Size, Share, Growth, Industry Trends and Forecast 2020-2030

The global Capsule endoscopy market is accounted approximate USD 214.7 million in 2020 and it is expected to reach approximate USD 775.1 million by 2030 with a CAGR of 13.7% during forecast period. Capsule endoscopy is a procedure that is used for the visualisation of the interior areas of intestines and other parts of the digestive, respiratory, and urinary tract. The process involves swallowing of a pill-sized capsule endoscope by the patient which further enables in capturing the images of the digestive tract. The captured images are then transferred to a recorder which is mounted on a waist belt. The recorder also tracks the position and movement of the capsule inside the body. The images captured are later investigated for the detection of any digestive disorders. This method eliminates the use of any surgical method for visualisation and is more efficient than the conventional endoscopy which uses wire. The primary components of a capsule endoscope includes camera, batteries, transmitter, and light source. The integrated camera in the capsule takes around two pictures per second and the battery lasts for almost 8 hours. The growing occurrence of chronic disorders and superior advantage over conventional endoscopy are the major factors that are driving the capsule endoscopy market globally. The global Capsule endoscopy market is accounted approximate USD 214.7 million in 2020 and it is expected to reach approximate USD 775.1 million by 2030 with a CAGR of 13.7% during forecast period.
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Market Dynamics and Factors:
The rising geriatric population across the globe has contributed to various chronic diseases of the digestive tract like gastrointestinal bleeding, Crohn’s disease, colon cancers, small intestinal tumours, and many others. For instance, according to the American Cancer Society, around 97220 cases of colon cancer were reported in 2018. The demand for faster and precise diagnostic tools along with the rising digestive tract disorders is propelling the growth of the capsule endoscopy market. Technological advancements, growing awareness among people, and rising income levels have forced the transformation of conventional endoscopic procedures to capsule endoscopy which in turn has fuelled the growth of the market. According to BMJ journal report, the global colon cancer cases are going to reach a figure of 2.2 million by 2030, which in turn will provide huge growth opportunity for the growth of the capsule endoscopy market. However, high costs associated with the advanced capsule endoscopy devices and dearth of skilled technicians are certain factors that will restrain the growth of the capsule endoscopy market.
Market Segmentation:
Global Capsule Endoscopy Market – By Product Type
Colonic Capsule
Bowel Capsule
Esophageal Capsule
Global Capsule Endoscopy Market – By Component
Wireless Capsule Endoscope
Capsule Endoscopy Image Recorder
Capsule Endoscopy Image Workstation
Global Capsule Endoscopy Market – By Application
Gastrointestinal Tract
Urinary Tract
Respiratory Tract
Female Reproductive Tract
Others
Global Capsule Endoscopy Market – By End-Users
Hospitals
Clinics
Research Centre’s
Others
Global Capsule Endoscopy Market – By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
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Geographic Analysis:
North America is expected to dominate the global capsule endoscopy market in terms of market share during the forecast period. The major factors attributing towards this dominant market position include growing incidences of gastrointestinal disorders and colon cancer; presence of major manufacturers and advanced healthcare facilities; and favourable reimbursement policy in the region. For instance, according to American Cancer Society, around 141000 people were diagnosed with colon cancer out of which 49000 died in 2011. The European region is estimated to be the second-most dominant market for capsule endoscopy during the forecast period. Rising prevalence of Crohn’s disease and ulcerative colitis are expected to boost the market growth in the region. Asia Pacific region is anticipated to witness maximum growth during the forecast period. Changing economic conditions, increased healthcare spending, and rising healthcare infrastructure are the key factors attributing towards the market growth in the APAC region.
Competitive Scenario:
The key players operating in the global capsule endoscopy market are –
IntroMedic, Olympus Corporation, Capsovision, Medtronic Plc., Chongqing Jinshan Science & Technology, Fujifilm Holding Corporation, Given Imaging Ltd., RF System Lab, Capsocam plus, AccuRead Endoscopy Inc.
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How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Capsule Endoscopy industry, although key threats, opportunities and disruptive technologies that could shape the Global Capsule Endoscopy Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Capsule Endoscopy Market most.
The data analysis present in the Global Capsule Endoscopy Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Capsule Endoscopy Market business.
The 2021 Annual Global Capsule Endoscopy Market offers:
100+ charts exploring and analysing the Global Capsule Endoscopy Market from critical angles including retail forecasts, consumer demand, production and more
15+ profiles of top producing states, with highlights of market conditions and retail trends
Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Capsule Endoscopy Market type
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