The global capsule endoscopy market is estimated to value over US $ 1 billion by the end of 2026 and grow at a CAGR of over 8.5% during the forecast period of 2019-2026.
Capsule endoscopy (CE) is the procedure which utilizes the minuscule bugged camera for capturing images of digestive tract. The camera is placed in a minuscule capsule which is swallowed down. The capsule advances over the digestive tract, alongside the camera grabbing numerous pictures which are transferred to a recorder which is located across the waist. It allows the doctor to have a look inside the small intestine. The small intestine area isn’t available with procedures of traditional endoscopy. Capsule endoscopy befits in situations where a doctor requires to find diagnose swelling bowel disease and cancer. Doctors use capsule endoscopy find the source of gastrointestinal bleeding. According to industrial experts, capsule endoscopy is more productive and preferred over x-rays of barium for the treatment of Gastrointestinal bleeding. The market is divided into esophageal, colon and small bowel capsules. Small bowel capsules control majority of the share.
Vast advancements in technology are making capsule endoscopy a more familiar procedure. It has created a huge opportunity for manufacturers and led to the inclusion of capsule endoscopy in national & international guidelines. The government's initiatives and rising demand for quick and accurate diagnostic tools have further fuelled the market. The Australian government in 2018 reduced the fee for capsule endoscopy. Also, the Canadian administration in 2013 launched a project in Bangladesh which aimed at developing economical and affordable devices that can be used to distinguish gastrointestinal bleeding. Capsule endoscopy is a major technological innovation in recent times due to the high demand for primary diagnosis and management of bowel diseases. The rapid advancement of technologies led to a paradigm shift in the progression of broadening indications in clinical application. It is an invaluable asset for clinical practice and outperforms other investigational modalities. Additionally, increasing prevalence of gastric disorder increased the traction during the forecast period. But the absence of skilled professionals alongside the expensive cost of advanced technologies has restrained the growth of the market.
North America market is expected to witness high market share in the global market due to the high acceptance of advanced technologies. It is followed by the European region and it accounts a significant share in the global market. Manufacturers in developed economies are mainly focused on organic growth strategies. Asia-Pacific region is expected to witness a high market growth rate during the forecast period. Changing economic conditions in Asia Pacific region created huge opportunities for manufacturing companies. Latin America and Rest of the world market are expected to account a small fraction of market share due to limited adoption.
Capsule Endoscopy market players include CapsoCam Plus, Chongqing Jinshan Science & Technology, IntroMedic Inc., Olympus Global, Medtronic, Given Imaging Ltd and others.
Capsule Endoscopy Market Restraint:
• Absence of skilled professionals
• Expensive cost of advanced technologies
Capsule Endoscopy Market Segmentation
By Component
• Endoscopy Capsule Systems
• Workstations and Recorders
By End User
• Hospitals
• Pathology Laboratories
• Outpatient Centre
By Region:
• North America
• Latin America
• Europe
• Asia Pacific
• Rest of the World
Competitive Landscape:
• Tier 1 players- established companies in the market with a major market share
• Tier 2 players
• Emerging players which are growing rapidly
• New Entrants
FutureWise Key Takeaways
• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on the global capsule endoscopy market by component, by end user, and by region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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