New York, USA, Nov. 22, 2022 (GLOBE NEWSWIRE) -- Capsule Endoscopy Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “Capsule Endoscopy Market Information by Component, Endoscope Type, Product, Application, End User - Forecast till 2030”, the market is expected to attain a CAGR of 8.4% and is thought to reach USD 1.29 billion by 2030.
Market Scope:
Capsule endoscopy is a minimally invasive procedure that utilizes a disposable video capsule that is wirelessly connected to a camera, power supply, transmitter, and light to examine the whole gastrointestinal tract. Video capsules are used for the diagnosis of gastrointestinal illnesses by capturing images in the esophagus, stomach, and small intestine.
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Report Scope:
| Report Attribute | Details |
| Market Size | USD 1.29 Billion |
| CAGR | 8.4% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Component, Product, Endoscope Type, Application and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Growing prevalence of small intestinal disorders |
| Mergers, acquisitions and new product launches |
Capsule Endoscopy Market Competitive Outlook:
Innovation, product development, acquisition, and expansion are all tactics used by leading players in the capsule endoscopy business. Here are some of the most important companies operating in the global market are:
- Medtronic PLC
- Olympus Corporation
- IntroMedic
- Chongqing Jinshan Science & Technology
- CapsoVision Inc.
- Fujifilm Holding Corporation
- RF Co.Ltd
- AccuRead Endoscopy
Capsule Endoscopy Market Dynamics:
Market Drivers
Since polyps and other inflammatory bowel illnesses can cause significant damage to the abdominal cavity, the market for capsule endoscopy is expanding, and many people are reaping the benefits. The diagnosis of small-intestine ulcers and tumors—the most common diseases in both young and old people—also contributes to the expanding global market. In most cases, people's unhealthy habits are to blame for the prevalence of these issues.
The rising incidence of small bowel problems and the aging population have both contributed to the explosive expansion of the capsule endoscopy market around the world. A second rationale for the market's expansion is the rising number of newly diagnosed instances of colon cancer in the United States in 2018. Another demographic that benefits from capsule endoscopy is the elderly, who have a higher prevalence of gastrointestinal illnesses. Because of this, the global market is expanding rapidly and for the better.
Market Restraints
Market growth in capsule endoscopy is substantial, but this isn't necessarily a good thing. Increased levels of market expansion are met with increased degrees of danger and complexity. The shortage of trained doctors is one factor preventing the expansion of the global market.
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COVID-19 Analysis:
As for the worldwide coronavirus problem, it seems to be getting worse every day. Capsule endoscopy is not doing well on a worldwide scale. For the reason that the pandemic has consumed all available resources. It has pushed down and buried other ailments and issues. Now, only one disease or ailment receives the majority of attention. Diseases like cancer, pneumonia, and jaundice don't get the attention they need either. Consequently, the demand for capsule endoscopy is diminishing as an increasing number of medical problems emerge but are not effectively treated.
Capsule Endoscopy Market Segmentation:
By Component
Capsule endoscopes were the most lucrative subcomponent in 2020, and they are expected to remain so throughout the projection period. As a result of its potential to meet the demand for minimally invasive tools to investigate the gastrointestinal system and permit the observation of previously obscured anatomical structures, this subsegment is also expected to expand at the quickest rate over the forecast period.
By Endoscope Type
Capsule Cystoscopies is expected to record substantial growth over the review period.
By Product
Small Bowel Capsule is slated to acquire significant CAGR over the review period.
By Application
Intestinal disorders of the small intestine have historically dominated the market, and this trend is anticipated to continue into the foreseeable future. Due to the enormous number of people who have small bowel disease, this market is predicted to expand rapidly in the coming years. Along with this, it has established reimbursement rules in both developed and emerging economies.
By end-user
The hospitals generated the most income from capsule endoscopy. The widespread acceptance and use of capsule endoscopy services and similar endoscopes in hospitals is largely responsible for this. As an added bonus, the government's generous reimbursement rules are fueling the market expansion.
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Capsule Endoscopy Market Regional Analysis:
According to market research, the Americas are leading the way in the capsule endoscopy industry. High health care costs and government investment in R&D are said to contribute to America's competitive advantage in the global market because of the country's large population of people with intestinal disorders. The quick discovery and introduction of novel biosimilar pharmaceuticals for the treatment of diseases also contributes to the United States' dominant position in the capsule endoscopy market.
According to the study's projections, Europe will be the second-largest market for capsule endoscopy in the next years. The prevalence of Crohn's disease and the inflammatory nature of ulcers are seen as the two most important drivers of market expansion in this area. M&A activity is another driving force behind the expansion of the capsule endoscopy market.
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Though now ranked third, the Asia-Pacific region is expected to grow at a faster rate than any other. Since it has the lowest population and the most room for expansion, its market is expanding at an unprecedented rate. In 2017, China made up 30.0% of the Asia-Pacific region.
When considering the state of the continent as a whole, the Middle East and North Africa hold the fewest market shares due to their economies' and regions' lack of growth.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
