Capsule Endoscopy System Market 2024 - By Industry Analysis, Future Prediction, Business Overview And Forecast To 2033

The Business Research Company recently released a comprehensive report on the Global Capsule Endoscopy System Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, 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 Drivers and Trends:

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.

Major companies operating in the capsule endoscopy system market are developing advanced capsules, such as the NaviCam small bowel system, to provide a more effective and efficient way to diagnose small bowel diseases. The NAVICAM small bowel capsule endoscopy system, that uses a combination of advanced technologies to provide a more effective and efficient way to diagnose small bowel diseases. For instance, in February 2023, AnX Robotica Corporation, a US-based manufacturer of capsule endoscopy systems, launched the NAVICAM small bowel system, a video capsule endoscopy (VCE) system that uses a combination of advanced technologies to provide a more effective and efficient way to diagnose small bowel diseases. The NAVICA capsule is equipped with a magnet that allows it to be steered remotely by a physician. This allows for more complete visualization of the small bowel, even in difficult-to-reach areas. It also uses artificial intelligence (AI) to automatically identify and flag areas of interest in the video footage. This helps physicians quickly and accurately identify abnormalities in the small bowel. Moreover, it is more effective, efficient, and comfortable for patients, and it provides physicians with the tools they need to make accurate diagnoses of small bowel diseases.

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Major Key Players of the Market:

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.

Capsule Endoscopy System Market 2024 Key Insights:

• The capsule endoscopy system market is expected to grow to $1.01 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%.
• The Impact of Rising Cancer Prevalence On The Capsule Endoscopy System Market
• Innovative Capsule Endoscopy Systems Redefining Small Bowel Disease Diagnosis
• North America was the largest region in the capsule endoscopy system market in 2023

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