Capsule Endoscopy Market 2022 Global Industry Size, Share, Trends, Opportunities, Growth Analysis and Forecast to 2030

By 2030, the capsule endoscopy market is estimated to reach USD 1.29 billion, growing at a CAGR of 8.4%.

A disposable, wireless device called a "video capsule" equipped with a camera, battery, transmitter, and light source is used in the noninvasive procedure of "capsule endoscopy" to provide a thorough examination of the gastrointestinal tract. To diagnose gastrointestinal problems, the video capsule is used to capture images of the esophagus, stomach, and small intestine.

The global capsule endoscopy market is expanding due to the increasing use of these procedures. This is owing to their advantages, including painless visualization of images of the gastrointestinal tract, accurate diagnosis, and faster reporting. The primary driver of market expansion is the rising incidence of chronic diseases such as cancer and gastrointestinal disorders in both developed and developing countries.

The market for capsule endoscopy has been significantly influenced by the COVID-19 pandemic. The COVID-19 pandemic has had a substantial impact on the market because of the elective procedures that were postponed, delayed, canceled, and/or underperformed. One of the main reasons why the market for capsule endoscopy hasn't expanded throughout the pandemic is that of changing legislation regarding surgical interventions and endoscopic screening methods. This is also due to supply chain problems.

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Key Players

Medtronic PLC

Olympus Corporation

IntroMedic

Chongqing Jinshan Science & Technology

CapsoVision Inc.

Fujifilm Holding Corporation

RF Co.Ltd

AccuRead Endoscopy

Segmental Analysis

By Component

By component, capsule endoscopes contributed the most to revenue in 2020, and it is projected that they will continue to do so during the forecast years. Due to its ability to meet the demand for minimally invasive tools to investigate the gastrointestinal tract and enable the imaging of inaccessible areas.

By Endoscopy Type

Based on the type of cystoscopy and capsule neuroendoscopes, the global market has been segmented.

By Product

The capsule endoscope segment includes a variety of capsule endoscopes, including small bowel, esophageal, and colon endoscopes. Due to their increasing use in the diagnosis and screening of medical diseases such as inflammatory bowel disease, Crohn's disease, obscure GI tract bleeding (OGIB), and small bowel neoplastic lesions, small bowel capsules will account for the largest revenue share of the market in 2020.

By Application

As more people use capsule endoscopes to diagnose Crohn's disease, the Crohn's disease market is expected to expand significantly throughout the projected time. Due to the many benefits that capsule endoscopy offers in the diagnosis and detection of OGIB, the OGIB segment held the biggest revenue share by application. This was accounting for 58.1% of total revenue in 2020.

By End User

The hospital sector dominated the market for capsule endoscopy and contributed the greatest revenue share of 47.8%, according to end-use. It is linked to the hospitals' significantly higher acceptance, utilization, and endoscope use of capsule endoscopy services when compared to other healthcare systems.

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Regional Analysis

Due to a growing inclination for less invasive screening treatments and the adoption of technologically advanced goods and systems, North America dominated the capsule endoscopy market. This region accounted for the greatest revenue share of 44.0% in 2020. Another aspect of the market's growth is the improvement of healthcare infrastructure.

Additionally, during the forecast, the market for capsule endoscopy in the Asia-Pacific is anticipated to increase profitably.

Industry News

The most effective way to find this small intestine tumor and all the abdominal dysfunction is to use modern capsule endoscopy, which has four cameras and provides 360-degree panoramic measuring of the small bowel.

The invention of capsule endoscopy and the adoption of digital and multilingual terminology have made it accessible to the majority of people.

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