Capsule endoscopy is a non-invasive procedure that permits a comprehensive examination of the gastrointestinal tract utilizing a video capsule, which is equipped with a camera, battery, transmitter, and light source. The images captured by video capsules in the esophagus, stomach, and small intestine are used to diagnose gastrointestinal disease.. Advanced technologies develop newer types of capsule endoscopes, which include small bowel capsule endoscope, colon capsule endoscope, and esophagus capsule endoscopes . Advancement in technology have brought a high level of accuracy, safety, and precision to endoscopy, which was critical to achieve.
Key Market Aspects:
Increasing prevalence of GI diseases: Gastrointestinal (GI) disorders like GERD, colorectal cancer, and other conditions are becoming more common, driving the need for diagnostic tools like capsule endoscopes.
Rising demand for minimally invasive procedures: Capsule endoscopy offers a less invasive alternative to traditional endoscopy, making it a preferred choice for patients.
Technological advancements: Innovations in capsule endoscopy, such as improved image quality, longer battery life, and more accurate results, are contributing to market expansion.
Increase in prevalence of cancer, growth in the geriatric population, and surge in introduction of technologically advanced capsules drive the growth of the global capsule endoscopy market. However, high cost of treatments, endoscopy equipment, limited reimbursement, and risk of retention of the capsule, which may require endoscopic retrieval or rarely surgical resection restrain the market to some extent. On the other hand, many innovative and technologically advanced products gain commercialization during the forecast period, owing to increase in research and development activities of key market players, which presents new opportunities in the upcoming years.
Capsule Endoscopy Market Segmentation:
By Component
The capsule endoscope segment held the highest market share in 2020, holding more than 90% of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is estimated to register the highest CAGR of 12.7% from 2021 to 2030. The report includes analysis of the work station and recorders segment.
By Disease Type
The small intestine disorder segment held the largest capsule endoscopy market share in 2020, holding nearly three-fourths of the total market share, and is expected to continue its leadership status during the forecast period. However, the colonic disorder segment is projected to register the highest CAGR of 14.9% from 2021 to 2030.
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By Region
North America contributed the highest share in terms of revenue in 2020, holding more than two-fifths of the total market share, and is estimated to continue its dominant share by 2030. Moreover, Asia-Pacific is projected to manifest the fastest CAGR of 13.2% during the forecast period.
Major Market Players
Leading players in the global capsule endoscopy market analyzed in the research include Given Imaging (Medtronic), IntroMedic Co., Ltd., Olympus Corporation, Chongqing Jinshan Science & Technology (Group) Co., Ltd., RF System lab, CapsoVision, Shengxian Minimal Invasive Inc., Check -Cap, Accuread Endoscopy Inc., Fujifilm Holding Corporation, and Anhan Technology (wuhan) co., Ltd.
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Article originally published on www.einpresswire.com as The capsule endoscopy market is expected to expand to $2.0 billion, registering a 12.4% CAGR