Capsule Endoscopy System Market Analysis 2024-2033: Understanding Industry Demand and Forecast

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Capsule Endoscopy System Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The capsule endoscopy system market size has grown rapidly in recent years. It will grow from $0.61 billion in 2023 to $0.68 billion in 2024 at a compound annual growth rate (CAGR) of 11.8%. The growth in the historic period can be attributed to patient preference for non-invasive procedures, rise in gastrointestinal disorders, enhanced diagnostic accuracy, improved patient comfort and compliance, physician preference for capsule endoscopy, growing aging population..

The capsule endoscopy system market size is expected to see rapid growth in the next few years. It will grow to $1.01 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to expanding applications in gastroenterology, increasing focus on early detection, patient-centric healthcare approaches, telemedicine integration, global health initiatives for digestive health.. Major trends in the forecast period include technological advancements, increasing prevalence of gastrointestinal disorders, growing aging population, preference for non-invasive procedures, rising awareness and patient education, reimbursement policies..

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Market Segmentation:
The capsule endoscopy system market covered in this report is segmented -

1) By Component: Capsule Endoscope, Work Stations And Recorders
2) By Application: Esophageal Diseases, Colonic Diseases, Occult GI Bleeding, Crohn's Disease, Small Bowel Tumors, Celiac Disease, Inherited Polyposis Syndromes
3) By End-User: Hospitals, Ambulatory Surgery Centers, Other End-Users

Major Driver - The Impact of Rising Cancer Prevalence On The Capsule Endoscopy System Market
The increasing prevalence of cancer is driving the growth of the capsule endoscopy system market going forward. Cancer refers to a group of diseases characterized by the abnormal and uncontrolled growth of cells in the body, which can invade nearby tissues and spread to other parts of the body. Capsule endoscopy systems are used in cancer diagnosis and detection by allowing physicians to visualize the gastrointestinal tract and detect abnormalities such as tumors, ulcers, and inflammation. They offer a less invasive and more patient-friendly approach to evaluating the GI tract, making them an essential tool in improving cancer outcomes and patient quality of life. For instance, in January 2023, according to reports shared by the American Cancer Society Inc., a US-based voluntary health organization, in the US, the estimated number of new cancer cases diagnosed in 2020 was 1.8 million, with 606,520 cancer-related deaths. This figure has risen to 1.9 million new cancer cases diagnosed and 608,570 cancer deaths in 2021. Therefore, the increasing prevalence of cancer is expected to propel the growth of the capsule endoscopy system market.

Competitive Landscape:
Major companies operating in the capsule endoscopy system market report are Novartis AG, Medtronic plc., Fujifilm Holdings Corporation, Koninklijke Philips N.V., Boston Scientific Corporation, EmblemHealth Inc., Olympus Corporation, Cerner Corporation, Henry Ford Health System, Steris Corp., Check-Cap Ltd, Proteus Digital Health Inc, Given Imaging Ltd., Medigus Ltd., Lifeline Sciences LLC., Medisafe UK Limited, CellMax Life Ltd., IntroMedic Co. Ltd., https://www.zoominfo.com/c/gi-view-ltd/49843790, SMART Medical Systems Ltd, BodyCap SAS, AnX Robotica Corporation, Advin Healthcare Private Limited, Chongqing Jinshan Science and Technology (Group) Co. Ltd, SmartPill Corporation, ANKON Technologies Co. Ltd., RF Systems Lab Co. Ltd., CapsoVision Inc., PENTAX Medical Company.

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