According to FutureWise analysis the market for capsule endoscope and workstations in 2023 is US$ 0.23 billion, and is expected to reach US$ 0.78 billion by 2031 at a CAGR of 16.40%.
The capsule endoscope is a non-invasive method for visualizing the entire gastrointestinal tract with a wireless, disposable device called a video capsule, which comes equipped with a camera, battery, transmitter, and light source. Video capsules capture images of the stomach, esophagus, and small intestine, which are used for diagnosis of gastrointestinal diseases. A camera integrated into the capsule takes around two pictures per second, and the battery of the capsule lasts for around eight hours. A capsule endoscopy system includes a work station, a data recorder, sensors, and software, which are integrated with wireless capsules. The data recorder is a device that must be worn around the patient's waist so that the video capsule can transmit the captured information.
A data recorder can also locate the position and movement of the capsule inside the stomach. By developing Wi-Fi-enabled capsules with longer battery life and improved camera quality to enhance capsule endoscopy's diagnostic capabilities, the sales of capsule endoscope and workstations are expected to increase. Approximately 35 percent of the population suffering from ulcers suffer serious complications and sometimes even die as a result. In the United States, about 500,000 new ulcer cases are detected annually, and approximately 5 million people are affected by ulcers. Therefore, the market for capsule endoscopes and workstations plays a crucial role in early diagnosis and proper treatment. In the capsule endoscope and workstations market, artificial intelligence (Al) will be one of the key factors influencing growth.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Capsule Endoscope and Workstations Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Capsule Endoscope and Workstations Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.