The Capsule Endoscopy Market research report offers insights into the leading market players and presents an assessment of their current market position. Company information with regards to revenue, segmental share, geographical income, SWOT, growth strategies, new product launch, M&A activities, and the latest R&D initiatives is also available in the report.
Market Research Future (MRFR) in its extensive report asserts that the global capsule endoscopy market is poised to grow at a CAGR of 9.2% during the forecasted period (2017 – 2023). Capsule endoscopy is a procedure employed to record internal images of the gastrointestinal tract for medical diagnosis. The capsule is shaped like a standard pharmaceutical capsule, and contains a tiny camera and an array of light-emitting diodes (LEDs) which is powered by a battery.
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The principal use of capsule endoscopy is to examine areas of the small intestine that cannot be seen by other types of endoscopy such as colonoscopy or esophagogastroduodenoscopy (EGD). This method is useful in identifying diseases like oesophageal diseases, intestine diseases, gastrointestinal bleeding, and colon related diseases.
Increasing ubiquity of these diseases is the major driving factor of the market. Increasing healthcare costs and continuous technological advances in endoscopy has fueled the expansion of the market. But steep cost of diagnosis and limited remuneration schemes can undermine the growth of the market. The capsule endoscopy is a technique that is used for both therapeutic and diagnostic purposes
The market is driven by factors such as the presence of supportive government initiatives, demand for faster and accurate diagnostics tools for colorectal cancer, and rising incidences of gastrointestinal (GI) diseases. CE technique provides pain-free visualization of GI tract images that are transmitted through data recorder. Moreover, the introduction of advanced capsules with an extended battery life and Wi-Fi ability can influence market revenue. Furthermore, advantages such as real-time visualization of the whole small intestine as well as faster and easier diagnosis results in patients and healthcare professionals to incline from conventional methods towards capsule endoscopy. This factor is projected to establish a healthy platform for the development of this market over the forecast period.
However, the major factors that undermine the growth of the market are lack of skilled physicians and endoscopists. Infections caused by endoscopes also pose as hurdles in the growth of the market. Patients with bowel obstructions are dissuaded from this technique, as it increases the risk of retention or adds to the problem of a blockage. In addition, it can be time consuming for the gastroenterologist.
Capsule Endoscopy Market – Competitive Landscape
The fiercely competitive capsule endoscopy market appears to be fragmented due to many large and small-scale players churning the competition in the market. Through the strategic initiatives such as partnership, acquisition, expansion, product & technology launch, and collaboration, these players try to gain a competitive edge in the market.
Capsule Endoscopy Market Studied By Top Key Players:
The fervent players leading the global capsule endoscopy market include IntroMedic Co., Ltd., Given Imaging (Israel), Olympus Corporation, CapsoVision Inc., Fujifilm Holding Corporation, Chongqing Jinshan Science & Technology (Group) Co., Ltd, Check-Cap Ltd., and RF System lab.
Global Capsule Endoscopy Market – Segments
MRFR has segmented the analysis into five key dynamics; for better understanding: –
By Type : Wireless Capsule Endoscopy, Workstation, and Receiver Capsule Endoscopy among others.
By Purpose : Investigation, Treatment, and Diagnostics among others.
By Application : Crohn’s Disease, Intestine Disease, and GIT Bleeding among others.
By End-user : Clinics & Hospitals, Diagnostic Centers, and Medical Research Institutes among others.
By Regions : Europe, North America, APAC and the Rest-of-the-World.
Global Capsule Endoscopy Market – Regional Analysis
Regional analysis for capsule endoscopy market
Regions covered in the market report include North America, Middle East & Africa (MEA), Asia Pacific (APAC), and Europe. The North American region has secured the largest market share owing to the increasing adoption rate of endoscopic surgery. According to the Centers for Disease Control and Prevention (CDC), the percentage of population detected with colon cancer has risen in the U.S. This is also evident with the increase in colonoscopy procedures.
The Asia Pacific market is anticipated to exhibit a 10.1% CAGR during the forecast period. The market potential of economies such as India, Vietnam, and Thailand etc. is tremendous, but on the other hand is constrained by lack of healthcare professionals. China, on the other hand, has the most market potential trailed by India. India is deemed to drive the future capsule endoscopy market. Developed economies such as Japan, U.S etc. are likely to experience modest single digit growth. Thus developing region nations such as Argentina and India are ideal for any new competitor. Although, comparatively, the rate of growth for developing regions is far below than that of the United States. Overall, it is estimated that the market potential for capsule endoscopy is expected to grow monumentally in the foreseeable future.
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