According to the latest research published by SkyQuest Technology, the Global Capsule Endoscopy market was valued at US$ 465.5 million in 2021, and the market size is estimated to reach US$ 855.62 million by 2028, at a CAGR of 8.7% over the forecast period (2022–2028). The research provides up-to-date analysis of global Capsule Endoscopy market that primarily includes current market landscape, latest trends, drivers, and overall market environment.
The advantages offered by capsule endoscopies, such as the ability to see images of the gastrointestinal tract effortlessly, accurate diagnosis, and quicker findings, have led to a surge in their usage in recent years. The development of technologically superior wireless capsules with improved characteristics, such as longer battery life, better data storage, Wi-Fi enabled devices, ergonomic designs, simple transmission, higher frame rates, 360-degree panoramic views, and better image quality, are factors propelling the capsule endoscopy market growth during the forecast period.
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The main drivers of the market growth include the rising incidence of cancer, the expanding elderly population worldwide, the rising need for minimally invasive diagnostic methods, and the introduction of technologically sophisticated capsules. In addition, increasing healthcare costs will increase the demand for cancer diagnostic procedures that are accurate, and supportive government measures will also contribute to this demand.
Gastronomic conditions such appendicitis, colon cancer, Crohn’s disease, and inflammatory bowel disease are all much more common as people age. The rising use of screening tests, such as capsule endoscopy for detection, and the rising prevalence of cancer in older as well as younger persons in recent years are projected to fuel market expansion. According to the data supplied by Cancer Net in 2021, around 149,500 adults in the U.S. are expected to receive a colorectal cancer diagnosis this year. Such rising prevalence indicates that the market will grow shortly.
For the purpose of screening the small intestine, wireless capsule endoscopy has proven to be an invaluable diagnostic tool. In 2001, the FDA approved the use of the first wireless capsule for the diagnosis of occult gastrointestinal bleeding. The process utilised to do an endoscopic examination of the small bowel is simple and risk-free. The quality of these capsules has been improved over time by technological breakthroughs in this field that have increased their battery life and precise technology. The portfolio of applications has been expanded to cover the diagnosis of the gastrointestinal tract, which includes the colon and oesophagus. Furthermore, the use of robotics and artificial intelligence in wireless endoscopic operations allowed for improved precision diagnoses and vital data monitoring. The key challenges that remain pertinent in the development of the advanced capsules are the ability to offer air inflation for a better view of the small intestine, to provide therapy, and to collect samples for biopsy.
However, some of the drawbacks of capsule endoscopy, such as capsule retention and usage restricted to diagnostics, serve as barriers to the expansion of the industry. Endoscopic retrieval or, surgical excision may be necessary to reduce the chance of capsule retention. For instance, a study published in Annals of Translational Medicine found that about 2% of patients undergoing a small bowel capsule endoscopic surgery had capsule retention. This makes the use of capsule endoscopes difficult. However, it is projected that the retention rate would decrease with technology developments and better designed wireless capsules, which will spur market expansion.
In the global market, the OGIB sector recorded the highest capsule endoscopy market share. This contribution can be due to a number of causes, including the many advantages that capsule endoscopy offers in the diagnosis and detection of OGIB. The growing popularity of capsule endoscopes for OGIB is mostly due to their numerous advantages, including real-time visualisation, image capture, examination of the entire small intestine, and accurate and dependable results. Additionally, the introduction of capsule-based endoscopic screening for OGIB rather than traditional approaches, like double-balloon enteroscopy, is shifting preferences that are speeding up the segment’s growth.
Read the market research report, “Global Capsule Endoscopy Market By Product (Capsule Endoscopes and Systems), By Application (Obscure Gastrointestinal Bleeding, Crohn’s Disease, Small Intestine Tumour), By End User (Hospitals, Diagnostic Laboratories, Specialty Clinics), & By Region-Forecast and Analysis 2022-2028” by SkyQuest
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Competitive Landscape
There is intense competition among the existing companies as a result of the rising demand for capsule-based endoscopes and endoscopic systems for various screening and diagnostic operations. The competition is also intensifying as a result of technological advancements made by significant competitors in the field of endoscopy. Leading market players are making efforts to expand their R&D in the area of capsule-based endoscopic technologies, as well as strategic partnerships with other market rivals through mergers and acquisitions, product launches, collaborations, and other initiatives. Some of the major participants in the capsule endoscopy market include IntroMedic Co., Ltd., Olympus Corporation, Chongqing Jinshan Science & Technology (Group) Co., Ltd., RF System lab, and CapsoVision.
The report published by SkyQuest Technology Consulting on global Capsule Endoscopy market provides in-depth qualitative insights, historical data, and verifiable projections. The projections featured in the report have been derived using proven research methodologies and assumptions.
Key Dynamics in Global Capsule Endoscopy market
● Drivers:
o The global market for capsule endoscopy is anticipated to be driven by the increasing technical developments in endoscopic treatments.
● Challenges:
o Limitations related to the application of capsule endoscopy are anticipated to restrain market expansion.
What does this Report Deliver?
• Market Estimation for 20+ Countries
• Global Capsule Endoscopy market demand by Region, Sub-Region, and Country
• Customization on Segments, Regions, and Company Profiles
• 100+ tables, 150+ Figures
• Global, Regional, and Country specific Global Capsule Endoscopy Market Trends
• Comprehensive Mapping of Capsule Endoscopy Industry Parameters
• Attractive Investment Proposition in the Global Capsule Endoscopy Industry
• Competitive Strategies Adopted by Global Capsule Endoscopy Market Key Players
• Drivers, Restraints, Opportunities, Challenges, and the impact on the Global Capsule Endoscopy Market Size
• Market growth rate till 2028
• Regulatory scenario, regional dynamics, and Global Capsule Endoscopy market insights of leading countries in each region
• In-depth Market insights by Region and Country
• Market Segmentation Trend Analysis, Opportunities, and Growth
• Porter’s five force analysis to know the market’s condition
• Pricing Analysis and Global Capsule Endoscopy market Sales
• Parent market analysis
• Product portfolio benchmarking
SkyQuest has segmented the Global Capsule Endoscopy Market based on Product, Application, End User, and Region:
● Global Capsule Endoscopy market by Product (Revenue, USD Billion, 2022–2028)
o Capsule Endoscopes
o Systems
● Global Capsule Endoscopy market by Application (Revenue, USD Billion, 2022–2028)
o Obscure Gastrointestinal Bleeding
o Crohn’s Disease
o Small Intestine Tumor
● Global Capsule Endoscopy market by End User (Revenue, USD Billion, 2022–2028)
o Hospitals
o Diagnostic Laboratories
o Specialty Clinics
● Global Capsule Endoscopy market by Region (Revenue, USD Billion, 2022–2028)
o North America
US
Canada
o Europe
Germany
France
UK
Italy
Spain
Rest of Europe
o Asia Pacific
China
India
Japan
Rest of Asia Pacific
o Central & South America
Brazil
Rest of CSA
o Middle East & Africa
GCC Countries
South Africa
Rest of MEA
Key Players in the Global Capsule Endoscopy market
● Olympus Corporation (Japan)
● CapsoVision Inc. (US)
● Chongqing Jinshan Science and Technology Group Co. (China)
● IntroMedic Co. (South Korea)
● RF Systems Lab (Japan)
● Shangxian Minimal Invasive Inc. (China)
● MEDTRONIC PLC. (Ireland)
● Fujifilm Holding Corporation (Japan)
● Check Cap (Israel)
● AnX Robotica (US)
About Us-
SkyQuest Technology Group is a Global Market Intelligence, Innovation Management & Commercialization organization that connects innovation to new markets, networks & collaborators for achieving Sustainable Development Goals.
Contact Us-
SkyQuest Technology Consulting Pvt. Ltd.
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 617-230-0741
Email- info@skyquestt.com
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