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Capsule Endoscopy Market Size, Share and Trends Analysis Report 2024-2031
According to the latest research by InsightAce Analytic, the global Capsule Endoscopy market is valued at US$ 444.72 Million in 2021, and it is expected to reach US$ 903.8 Million by 2030, with a CAGR of 9.27% during a forecast period of 2022-2030.
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Capsule endoscopy is a non-invasive technique that allows for a detailed examination of the gastrointestinal tract using a video capsule equipped with a camera, battery, transmitter, and light source. Video capsule images taken in the oesophagus, stomach, and small intestine are utilised to identify gastrointestinal diseases. The inbuilt camera in the capsule takes two images every second, and the battery lasts eight hours. Capsule endoscopy systems consist of a workstation, data recorder, sensor, and software that function in conjunction with wireless capsules.
The main factors propelling market expansion are the rising elderly population around the world, the demand for less intrusive diagnostic methods, and the creation of technologically advanced capsules. Additionally, expanding healthcare spending, which increases the need for accurate cancer diagnostic methods, as well as positive government initiatives, are projected to fuel market growth. Because of their advantages, such as pleasant visualisation of the gastrointestinal tract images, precise diagnosis, and quicker results, capsule endoscopies have become more and more common in recent years. Additionally, during the forecast period, the market will grow due to the introduction of technologically advanced wireless capsules with improved features like longer battery life, WiFi-enabled devices, increased data storage capacity, ergonomic designs, higher frame rates, 360-degree panoramic views, simple transmission, and improved image quality. In the coming years, the ageing population will be anticipated to provide this market with a robust development platform. Additionally, the increased usage of screening tests such as capsule endoscopy for diagnosis and the rising prevalence of cancer in both older and younger people in recent years are anticipated to fuel market expansion.
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North America is anticipated to be the major contributor to the Capsule Endoscopy market over the forecast years because of a growing demand for minimally invasive screening treatments and the use of technologically advanced products and systems. Furthermore, enhanced healthcare infrastructure is another element driving the market growth. Furthermore, increased awareness about the early detection of diseases such as cancer, gastrointestinal disorders, and other chronic problems is one of the major reasons driving market growth in the region. In addition, the Asia Pacific Capsule Endoscopy market is expected to grow significantly during the forecast period. It is due to the increased demand in this region for capsule-based endoscopic technology for screening operations. Furthermore, improving healthcare infrastructure and a growing senior population are two significant elements driving growth.
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Major market players operating in the Capsule Endoscopy market include
CapsoVision Inc., Jinshan Science & Technolgy (Group) Co. Ltd., IntroMedic Co. Ltd., Check Cap Ltd, Medtronic, Olympus Corporation, GastroGenix Inc, Motilis Medica SA, RF Co., Ltd., and others.
Recent collaborations and agreements in the market:
In November 2021, Medtronic plc received FDA approval for its PillCam remote endoscopic treatment device. The PillCam SB3 programme integrates the company's PillCam technology with Amazon logistics to provide clients with quick and accurate results from the comfort of their homes.
In May 2021, Olympus Corporation Japan agreed to buy Medi-Tate Ltd. (Israel). As part of the acquisition BPH, Olympus was granted permission to perform in-office treatment for benign prostatic hyperplasia.
In 2020, Medtronic established cooperation with Amazon to deliver its capsule endoscope-PillCam Genius, to customers' homes. It will aid in growing its global penetration and improving patient comfort and satisfaction.
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Market Segments
Global Capsule Endoscopy Market, by Brand, 2022-2030 (Value US$ Mn)
• CapsoCam Plus
• Capso Retrieve
• CapsoAccess
• CapsoView
• Check-cap
• OMOM
• MicroCam Regular
• PillCam
• EndoCapsule
• Sayaka
• Others
Global Capsule Endoscopy Market, by Application, 2022-2030 (Value US$ Mn)
• Obscure Gastrointestinal Bleeding (OGIB)
• Crohn's disease
• Small intestine tumor
• Others
Global Capsule Endoscopy Market, by End Users, 2022-2030 (Value US$ Mn)
• Hospitals
• Clinics
• Others
Global Capsule Endoscopy Market, by Region, 2022-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Capsule Endoscopy Market, by Country, 2022-2030 (Value US$ Mn)
• U.S.
• Canada
Europe Capsule Endoscopy Market, by Country, 2022-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Capsule Endoscopy Market, by Country, 2022-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Capsule Endoscopy Market, by Country, 2022-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Capsule Endoscopy Market, by Country, 2022-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa
Why should buy this report:
To receive a comprehensive analysis of the prospects for the global Capsule Endoscopy market
To receive an industry overview and future trends of the Capsule Endoscopy market
To analyze the Capsule Endoscopy market drivers and challenges
To get information on the Capsule Endoscopy market value (US$Mn) forecast to 2030
Significant investments, mergers & acquisitions in the Capsule Endoscopy market industry
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