The research study on Capsule Endoscopy Market, recently released by Markntel Advisors comprises facts and information obtained from various legitimate sources to provide an explained and effortless interpretation of the future state of the market according to past data. Analysts at Markntel Advisors evaluated the obtained material and data, gaining insights and the working of the industry to provide the data in a systematic order along with the predictions and future insights presented to the shareholder based on the past evaluation.
Market Overview –
- Regional Dividation: North America Held A Significant Market Share
The Capsule Endoscopy market is divided across North America, South America, Europe, Asia Pacific, the Middle East & Africa region. Of all the regions, North America held a significant market share in the Global Capsule Endoscopy market during 2017-2021 due to the rising prevalence of minimally invasive screening procedures along with the adoption of technologically advanced diagnostic products & systems. Furthermore, rising awareness regarding early screening of diseases such as cancer, gastrointestinal disorders, and other chronic ailments were the prominent factors supporting the market growth. In addition, another factor driving market growth in the historical years has been the region’s comparatively more developed health infrastructure.
- Market Ongoing Trends: Rising Adoption of Capsule Endoscopy for At-Home Gastrointestinal Screenings
Capsule Endoscopy had received emergency clearance for at-home use due to the outbreak of the COVID-19 pandemic. The rising number of COVID-affected populations halted the ongoing screening processes of Cancer-related & gastrointestinal disorders in 2020, due to which Food and Drug Authority approved the utilization of capsule endoscopy in the home-care settings. Thus, various medical device companies, such as CapoVision, and Medtronic, launched their At-home endoscopic capsules, which could be monitored remotely by the healthcare professionals.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR | 10.42% |
| Regions Covered | North America: The US, Canada, Mexico |
| South America: Brazil, Argentina, Rest of South America | |
| Europe: Germany, The UK, France, Italy, Spain, Russia Rest of Europe | |
| Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific | |
| Middle East & Africa: UAE, Saudi Arabia, South Africa, Egypt, Rest of MEA | |
| Key Companies Profiled | Olympus Corporation, Medtronic Plc, CapsoVision Inc, IntroMedic Co., Ltd, Jinshan Group, Check-Cap Ltd., RF System Lab, AnX Robotica |
| Unit Denominations | USD Million/Billion |
In addition, the rapid adoption of telemedicine or telehealth services to monitor real-time health data & vitals such as pulse, respiration, and temperature, along with screening & diagnostic procedures have propelled the market growth of capsule endoscopy in the forecasted years.
- Covid-19 Impact Analysis
The COVID-19 pandemic negatively impacted the market due to the supply chain disruption & strict lockdown measures imposed during that time. Moreover, the delayed & postponed elective surgeries reduced the number of diagnostic lab procedures related to cancer & gastrointestinal procedures, subsequently impacting the growth of the capsule endoscopy market across the world.
Besides, the market experienced a decline in product demand due to the tremendous healthcare expenditure towards the COVID-19-affected population & related infrastructural developments. However, the market regained its momentum in 2021 & is expected to surge during the forecast period on account of clearing the significant backlogs of required oncological surgeries & the emerging new cases as well.
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Further Significant Questions We Answered in Our Report –
- Who are the key participants in the industry, and how have they sculpted the market?
- What are the market players’ current strategies, business plans, and initiatives to continue their foothold in the industry and expand further?
- Which segment of the market is most profitable and why?
- What are the current trends that are driving the industry?
- What are the opportunities and obstacles in the growth of the market?
Report Table of Content
- Introduction
- Product Definition
- Research Process
- Assumptions
- Market Segmentation
- Executive Summary
- Impact of COVID-19 on Global Capsule Endoscopy Market
- Global Capsule Endoscopy Market Regulations & Policy
- Global Capsule Endoscopy Market Trends & Insights
- Global Capsule Endoscopy Market Dynamics
- Growth Drivers
- Challenges
- Global Capsule Endoscopy Market Hotspots & Opportunities
- Global Capsule Endoscopy Clinical Trial Analysis
- Global Capsule Endoscopy Patent Analysis
- Global Capsule Endoscopy Market Outlook, 2017-2027F
Market Growth Driver and Upcoming Challenges –
- Rising Demand for Minimally Invasive Diagnostic Procedure to Drive the Market
The rising adoption of minimally invasive diagnostic procedures has propelled the utilization of capsule endoscopic systems & wireless capsules during the historical years. The growing burden of chronic ailments such as a small intestine tumor, formation of polyps in the bowel, Obscure gastrointestinal diseases, and Crohn’s disorder was the prominent reason for the growth of the Capsule Endoscopy market across various geographies. In addition, these minimally invasive diagnostic procedures provide more accurate & precise results as compared to conventional techniques, which supports their greater adoption among healthcare professionals.
- High Cost of Diagnostic Procedures to Hamper the Market Growth
The high cost of capsule endoscopy is an important factor restraining the potential development of capsule endoscopic procedures for screening purposes. At present, capsule endoscopy is significantly costlier than gastroscopy in various countries such as Spain & Italy. Thus, an imbalance between precise quality screening & procedure cost has been created in some emerging countries, which is considered a reasonable challenge for the global growth of the Capsule Endoscopy Market.
Industry Divisions and Distributions
By dividing and bifurcating the industry based on varying Segments, the reports help breaks down the market into sections to help shareholders point out their focus of attention and figure out the most profitable quarters.
The Capsule Endoscopy market is diversely fragmented and spread across various bifurcations. The report aims to categorize and systematically present the data in an organized, easy-to-interpret format by dividing the bifurcations into segments. Each segment is then further presented with historical data, market growth, expansion, technological advancement, and other factors affecting it. The prediction of its future growth depends on current trends and further development. The industry segmentations bifurcate across the following segments:
By Capsule Type
- Small Bowel Capsule
- Colon Capsule
- Oesophageal Capsule
By Component
- Software
- Hardware
- Ingestible Capsule
- Sensor Belt
- Sensor Array
- Data Recorder
By Application
- Obscure GI bleeding (OGIB)
- Oesophageal Disease
- Iron Deficiency Anaemia
- Inflammatory Bowel Diseases
- Celiac Disease
- Crohn’s Disease
- Small bowel tumour and hereditary polyposis syndromes
- Others (Small bowel transplant, Henoch-Schonlein purpura etc.)
By End User
- Hospitals
- Diagnostic centres
- Ambulatory surgery centres
- Others (Clinics, Home care settings, etc.)
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Examination of The Market’s Top Leaders
To explain the dominance of competitors and the market, the report provides the major moves, developments, acquisitions, launches, and more performed by the key players influencing the market. The prominent players profiled in the report include: –
- – Olympus Corporation
- – Medtronic Plc
- – CapsoVision Inc
- – IntroMedic Co., Ltd
- – Jinshan Group
- – Check-Cap Ltd.
- – RF System Lab
- – AnX Robotica
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