Global Capsule Endoscopy System Market Penetration and Growth Prospect Mapping; A Report by Absolute Markets Insights
The global capsule endoscopy system market was valued at US$ 510.34 Mn in 2021 growing at a CAGR of 10.02% over the forecast period (2022 – 2030). The growth of the global capsule endoscopy system market is driven by the progress from being passively moving diagnostic instruments to being actively moving systems with therapeutic potential. Since its introduction in 2000, capsule endoscopy has been used to scan gastrointestinal tract in a less intrusive manner. With the rise in gastrointestinal illnesses, patient-friendly capsule endoscopy is becoming a more common diagnostic option. In the last few years, capsule endoscopy is evolving that has the potential to replace most traditional upper gastrointestinal endoscopy and colonoscopy procedures. Its key obstacles are being addressed in order to position it as the preferred diagnostic option, to help enhance the energy supply to CE systems, radical design changes are being applied. The introduction of complementary metal-oxide silicon (CMOS), which consumes very low power levels compared to charge-coupled devices (CCDs)., has increased the power efficiency of capsule endoscopy. Moreover the leading players in the market are focused on enhancing the designs of the capsules for better image results. For instance, previously, one of the major drawbacks of capsule endoscopy was the surgeon's lack of control over the capsule's movement and position as it passed through the intestine. Over the years manufacturers have developed a magnetically guided capsule endoscope (MGCE) system that can be readily steered to areas of interest and controlled by surgeons through an external joystick. Thus with such advancements the global capsule endoscopy market is expected to flourish in the upcoming years.
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The component segment of the capsule endoscopy system market consists of the products, accessories and software. Capsule examines the middle of the gastrointestinal tract, which includes sections of the small intestine, with a pill-sized camera. The capsule takes pictures of the digestive tract with a small wireless camera. A capsule endoscopy camera is contained within a vitamin-sized capsule that is swallowed. The camera in the capsule collects thousands of photographs as it goes through your digestive tract and transmits them to a recorder you wear on a belt around your waist. Thus, with advancements in capsules has led to the significant growth of the global capsule endoscopy market during 2021.
Increased prevalence of gastrointestinal (GI) diseases such as esophagitis, gastro-oesophageal reflux disease (GORD), obscure gastrointestinal bleeding, coeliac disease, Crohn's disease, and colorectal cancer (CRC), as well as increased awareness of disease conditions among the general population, are current drivers. Gastrointestinal disorders are a group of conditions that affect the digestive system. Endoscopes are used to diagnose and treat problems in the gastrointestinal tract, which includes the anus, colon, duodenum, large intestine, oesophagus, rectum, small intestine, and stomach. Given the small intestine's complicated and intricate structure, capsule endoscopes are preferred over flexible endoscopes for examination. Capsule endoscopes have also been used to diagnose gastrointestinal and esophageal problems. On the other hand the use of capsule endoscopy (CE) to diagnose small intestinal disorders is becoming more common. It is proving to be a popular method for diagnosing celiac disease (CD) since it is non-invasive and allows for a close and magnified view of the whole small intestinal mucosa.
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Hospitals are using modernised equipment to deliver healthcare services such as diagnosis and disease treatment. The rising frequency of gastrointestinal illnesses has resulted in an increase in the number of gastrointestinal examinations, which is expected to fuel the growth of the capsule endoscopy system market for the hospital segment over the forecast period. Improved hospital settings are in high demand in emerging countries in order to meet the growing patient pool and public health issues. However, specialty diagnostics centres are gaining popularity as well, due to the increased investments by healthcare organizations for advanced screen diagnostics such as capsule endoscopy systems. Hence these factors are contributing to the growth of global capsule endoscopy system market.
The Asia Pacific region is anticipated to be the fastest growing region in the capsule endoscopy market for the forecast period. In Asia Pacific, great progress has been made in providing improved healthcare services. The government is encouraging these changes through a variety of methods, initiatives, and programmes aimed at raising awareness of gastrointestinal problems. Furthermore, colorectal cancer cases have surged in the region in recent years, necessitating the use of effective and inexpensive screening technologies. Additionally leading players in the market are focussed on the advancements of capsule endoscopy and are expanding their presence in the Asia Pacific region. Thus, these factors are contributing to the growth of capsule endoscopy system market in the Asia Pacific region.
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The key market participants operating in the global capsule endoscopy system market are:
- AnX Robotics
- CapsoVision, Inc.
- FUJIFILM Holdings America Corporation
- Olympus America
- RF Co., Ltd.
- SHANGXIAN MINIMAL INVASIVE INC
- Other Market Participants
Global Capsule Endoscopy System Market
- Accessories and Software
- Gastrointestinal Bleeding
- Crohn’s Disease
- Ulcerative colitis
- Celiac Disease
By End Users
- Diagnostics Laboratories
- Specialty Clinics
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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