Capsule Endoscopy Market: Information by Component (Capsule Endoscopy, Capsule Endoscopy Data Recorder and Capsule Endoscopy Workstations), Endoscope Type (Capsule Cystoscopies and Capsule Neuro-Endoscopes), Product (Small Bowel Capsule, Esophageal Capsule and Colon Capsule), Application (Obscure Gastrointestinal Bleeding (OGIB), Crohn’s Disease and Small Intestine Tumor), End User (Hospitals, Clinics and others) and Region (Americas, Europe, Asia-Pacific and Middle East & Africa) - Forecast till 2023
The Capsule Endoscopy Market is growing pervasively due to the rising adoption of endoscopy procedures. Capsule endoscopy is used for the detection of polyps, inflammatory bowel disease, ulcers, and tumors of the small intestine. The growing prevalence of small intestinal disorders and the increasing geriatric population are the major growth drivers of the market. Moreover, factors such as increasing funding & reimbursement for screening & treatment using endoscopic techniques push market growth.
According to Market Research Future (MRFR), the global capsule endoscopy market is poised to reach USD 967.4MN by the end of 2023, registering 8.82% CAGR during the review period (2018 – 2023). Additionally, spreading awareness about the availability & benefits of capsule endoscopy procedures is substantiating the market growth. Also, the rising demand for effective diagnostic & therapeutic options impacts the growth of the capsule endoscopy system market positively.
On the other hand, the risks & complications associated with the capsule endoscopy are anticipated to hamper the market growth. Also, the lack of skilled physicians might constrain the growth of the capsule endoscopy market share. Nevertheless, augmenting demand & preference for less invasive treatment methods would support the increase of the capsule endoscopy market size during the forecast period.
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Global Capsule Endoscopy Market – Segments
The report segmented into six market dynamics;
By Component : Capsule endoscopy, Capsule Endoscopy Data Recorder, Capsule Endoscopy Workstations, and others.
By Endoscope Type : Capsule Cystoscopies, Capsule Neuro-Endoscopes, and others.
By Product : Small Bowel Capsule, Esophageal Capsule, Colon Capsule, and others.
By Application : Obscure Gastrointestinal Bleeding (OGIB), Crohn’s Disease, Small Intestine Tumor, and others.
By End User : Hospitals, Clinics, and others.
By Regions : Europe, Americas, Asia-Pacific, Middle East & Africa, and Rest-of-the-World.
Global Capsule Endoscopy Market – Geographical Analysis
North America possesses a significant share in the global capsule endoscopy market. The exponential growth attributes to the presence of a large number of major market players and patients suffering from intestinal diseases. Besides, the increasing emphasis on advanced diagnosis & treatment processes for cancer and gastrointestinal disorders is a key growth driver. Also, factors such as the availability of advanced technologies, high healthcare expenditure, and government support for research & development increase the region’s capsule endoscopy market size.
Moreover, rapid developments of novel biosimilars and drugs for the treatment of myriads of diseases act as a major tailwind behind the regional market growth. Besides, rising government support for R&D activities and growing focus on the development of new capsule endoscopy procedures contribute to the regional market growth. The North American capsule endoscopy market is estimated to retain its dominance over the global market throughout the forecast period.
Europe stands second in the global capsule endoscopy market, driven by the rising prevalence of Crohn’s disease and ulcerative colitis in the region. Also, factors such as improving economic conditions and massive development in the healthcare domain impact the regional market growth positively. Research institutions emphasis on updating technologies used or new & advanced diagnosis & treatment methods, which, in turn, drives the regional market growth.
Moreover, the presence of advanced hospital infrastructures and skilled healthcare professionals is increasing the capsule endoscopy system market in the region. Additionally, various strategic initiatives undertaken by the companies operating in the regional market are expected to boost Europe’s capsule endoscopy market share globally. The European capsule endoscopy market is likely to grow at a significant CAGR during the review period.
The capsule endoscopy market in the Asia Pacific region is growing rapidly. Factors such as the vast population base and the presence of rapidly developing countries like India and China in the region offer tremendous growth opportunities. Furthermore, the increasing numbers of patients who are suffering from cancer & gastrointestinal diseases create a vast market demand for various diagnosis & treatment methods.
Moreover, the augmenting demand for quality treatment & diagnostic process, proliferating healthcare technology, and increasing uptake of endoscopy procedures in the region provide impetus to market growth. The APAC capsule endoscopy market is estimated to register a phenomenal CAGR throughout the analysis period.
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Global Capsule Endoscopy Market - Competitive Analysis
Highly competitive, the Capsule Endoscopy market appears diversified due to the presence of several major players. To gain a larger competitive share, players adopt strategic initiatives such as mergers & acquisitions, expansion, collaboration, and product launch. They make huge investments to drive R&D activities and expansion plans. Further, market players work with physicians, nurses, and technicians around the world to identify unaddressed needs.
Major Players:
Players leading the capsule endoscopy market include Olympus Corporation, Medtronic PLC, IntroMedic, CapsoVision Inc., Chongqing Jinshan Science & Technology, Fujifilm Holding Corporation, AccuRead Endoscopy Inc., and RF Co.Ltd, among others.
Industry/Innovation/Related News:
May 07, 2020 --- A team of researchers set out to assess the role of small-bowel capsule endoscopy (SBCE) in patients and to determine SBCE findings at diagnosis can predict disease outcome. The researchers are variously affiliated with the Royal Hallamshire Hospital, Academic Unit of Gastroenterology, Sheffield, UK, the Academic Unit of Gastroenterology, and others, assessed 177 patients with SNVA, IELs +/-crypt hyperplasia on duodenal histology. The research findings indicate that all these patients had an equivocal diagnosis of celiac disease, and about one in three patients had a positive SBCE.
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Global Capsule endoscopy Market - OverviewCapsule endoscopy is the part of endoscopy in which a small capsule and pill shaped wireless camera used to examine the digestive system.
Continuous technological advancement in endoscopy and increasing healthcare spending has provided fuel for the growth of the market.
But high cost for the diagnosis and limited reimbursement are the major hurdles for the growth of the market.Further an endoscopy is a procedure that allows physicians or surgeons to look inside interior parts of the organ.
To perform endoscopy a specialized instrument is used named as Capsule Endoscopy System Market Size.
For therapeutic purpose, endoscopes are either attached or passed through surgical instruments to perform particular surgery.
As per the 2014 statistics suggested by Eurostat, it is observed that the Cataract surgery is the most common minimally invasive surgery in the European region as this surgery was performed 4.3 million times across the EU Member States and another most commonly used procedure was bronchoscopy for diagnosis with a frequency rate of 685 per 100 000 inhabitants in Croatia and more than 400 in Latvia and Germany.Get Sample Report at https://www.marketresearchfuture.com/sample_request/1359Rising prevalence rate of chronic diseases, technological advancement in endoscopy, and increasing funding and reimbursement towards screening and treatment with endoscopic techniques are promoting the growth of endoscopy devices market globally increasing popularity of minimally invasive surgery is also creating a huge scope for the growth of market.Despite these drivers, there are some issues associated with endoscopy devices market.
The Global Capsule Endoscopy Market size was valued at USD 687.14 million in 2019, is predicted an elevation up to USD 1,975.68 million by 2030, with a CAGR of 9.2% from 2020-2030The Global Capsule Endoscopy Market report factual examinations gives showcase statistical data points to comprehend the present and future development of the worldwide Capsule Endoscopy Market.
Our examination will empower you to take educated choices in the worldwide Capsule Endoscopy Market identifying with acquisition, stock, evaluating, and generation.Request sample copy of this report at:-https://www.nextmsc.com/Capsule-Endoscopy-Market/request-sampleTop Companies: Olympus Corporation, Intro Medic Co., Ltd., Chongqing Jinshan Science & Technology Co., Ltd, Fujifilm Holding Corporation, Capso Vision, RF System lab and others.Global Capsule Endoscopy Market by Geography: - Latin America, North America, Asia Pacific, the Middle East and Africa and Europe.The prime goal of this Capsule Endoscopy advertise report is to enable the client to comprehend the market as far as its definition, division, showcase potential, persuasive patterns, and the difficulties that the market is confronting.
Profound inquiries about and investigations were finished during the planning of the report.
This upgrades the visual portrayal and furthermore helps in understanding the certainties much better.
The report centers around worldwide real driving Capsule Endoscopy Market players giving data, for example, organization profiles, item picture and determination, limit, creation, value, cost, income and contact data.
Upstream crude materials and gear and downstream interest examination is likewise completed.Inquire for discount offer at:-https://www.nextmsc.com/Capsule-Endoscopy-Market/inquire-before-buyingStudy on Table of Contents:Capsule Endoscopy Market Overview, Scope, Status and Prospect (2015-2020) covering COVID-19 Pandemic.Global Capsule Endoscopy Market Competition by ManufacturersGlobal Capsule Endoscopy Supply (Production), Consumption, Export, Import by Region (2015-2020)Capsule Endoscopy Manufacturing Cost Analysis, Industrial Chain, Sourcing Strategy and Downstream BuyersMarketing Strategy Analysis, Distributors/TradersGlobal Capsule Endoscopy Market Effect Factors Analysis and Forecast (2020-2030)Research Findings and Conclusion Appendix – Methodology/Research Approach, Market Size Estimation, Data Source, Secondary Sources, Primary Sources, and Disclaimer.About Next Move Strategy Consulting:Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share.
