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Capsule Endoscopy Market Report- Expansive Coverage on the Profit Sources
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Latest Drivers Restraint and Opportunities Market Snapshot:
Key factors influencing the capsule endoscopy market are:
• Improvement in healthcare facilities
• Growing inclination for less invasive screening methods
• Growing number of elderly people
The following are the primary obstacles to the capsule endoscopy market's expansion:
• Shortage of skilled workers
• Strict governmental rules
• Concerns about capsule retention and the expensive devices
Future expansion opportunities for the capsule endoscopy market include:
• Rising investment in capsule endoscopy technology
• Raising consciousness
• Increasing adoption of technologically advanced goods and systems
Market Analysis:
The capsule endoscopy market is expected to be driven by a rising incidence of colon cancer and inflammatory bowel diseases, alongside the continual need for accurate diagnostic tools. Moreover, the distinct advantages over conventional endoscopy and ongoing technological advancements are encouraging broader adoption among end users, thereby propelling market growth over the forecast period.
Increased healthcare expenditures dedicated to effective cancer detection and supportive government initiatives are also anticipated to further expand the market.
List of Prominent Players in the Capsule Endoscopy Market:
• CapsoVision Inc.
• Check Cap Ltd
• Jinshan Science & Technolgy (Group) Co. Ltd.,
• IntroMedic Co. Ltd.
• Medtronic,
• Olympus Corporation
• RF Co., Ltd.
• GastroGenix Inc,
• Motilis Medica SA
• Others
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Recent Developments:
• In January 2024, Medtronic introduced GI Genius, a colorectal cancer endoscopic module. Doctors can now detect and treat colorectal cancer more effectively owing to the system's enhanced visualization during colonoscopies and real-time data delivery via artificial intelligence (AI).
• In Oct 2023, Olympus has announced the next-generation EVIS X1 endoscopy system for gastrointestinal (GI) practitioners. The GIF-1100 gastrointestinal videoscope is meant for use in the upper digestive tract, whilst the CF-HQ1100DL/I colonovideoscope is designed for use in the lower digestive tract.The EVIS X1 endoscopy equipment incorporates Texture and Color Enhancement Imaging technology, which improves image color and texture during endoscopic screening, increasing the visibility of lesions and polyps.
Capsule Endoscopy Market Dynamics:
Market Drivers: Rising Aging Population
The industry is expected to experience robust growth due to an increasing aging population. Gastrointestinal disorders such as appendicitis, Crohn's disease, bowel inflammation, and colorectal cancer are more prevalent among the elderly. Furthermore, capsule endoscopy is gaining traction as a diagnostic tool for cancer, and the rising incidence of the disease across all age groups bodes well for the industry. The ability of capsule endoscopic systems to diagnose a variety of gastrointestinal disorders-including obstructive bleeding, cancer, and small intestine tumors-combined with the growing preference for minimally invasive procedures, is driving adoption and expanding market growth.
Challenges: Heavy Equipment Expenses
The significant initial investment and ongoing operational expenses associated with capsule endoscopy devices present major challenges. Budget constraints can hinder healthcare organizations and hospitals from adopting this technology. In addition, stringent regulatory requirements for licensing and marketing these devices may delay market entry. The need to meet multiple regulatory standards increases both the cost and time required to introduce new products, which further limits market expansion.
North America is Expected to Grow with the Highest CAGR During the Forecast Period
North America is anticipated to capture a substantial revenue share and grow at the highest compound annual growth rate during the forecast period. This growth is driven by a growing preference for minimally invasive diagnostic methods and the adoption of technologically advanced medical systems. Enhanced healthcare infrastructure and increased public awareness of the benefits of early disease screening for conditions such as cancer, gastrointestinal disorders, and other chronic illnesses further support market expansion in the region.
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Segmentation of Capsule Endoscopy Market-
By Brands-
• CapsoCam Plus
• Capso Retrieve
• CapsoAccess
• CapsoView
• Check-cap
• OMOM
• MicroCam Regular
• PillCam
• EndoCapsule
• Sayaka
• Others
By Application-
• Obscure Gastrointestinal Bleeding (OGIB)
• Crohn's disease
• Small intestine tumor
• Others
By End User-
• Hospitals
• Clinics
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.https://www.insightaceanalytic.com/images_data/148861653.
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