Capsule Endoscopy Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2026
The global capsule endoscopy market is estimated to value over US $ 1 billion by the end of 2026 and grow at a CAGR of over 8.5% during the forecast period of 2019-2026.
Capsule
endoscopy (CE) is the procedure which utilizes the minuscule bugged camera for
capturing images of digestive tract. The camera is placed in a minuscule
capsule which is swallowed down. The capsule advances over the digestive tract,
alongside the camera grabbing numerous pictures which are transferred to a
recorder which is located across the waist. It allows the doctor to have a look
inside the small intestine. The small intestine area isn’t available with
procedures of traditional endoscopy. Capsule endoscopy befits in situations
where a doctor requires to find diagnose swelling bowel disease and cancer.
Doctors use capsule endoscopy find the source of gastrointestinal bleeding.
According to industrial experts, capsule endoscopy is more productive and
preferred over x-rays of barium for the treatment of Gastrointestinal bleeding.
The market is divided into esophageal, colon and small bowel capsules. Small
bowel capsules control majority of the share.
Vast advancements in technology are making capsule endoscopy a more familiar
procedure. It has created a huge opportunity for manufacturers and led to the
inclusion of capsule endoscopy in national & international guidelines. The
government’s initiatives and rising demand for quick and accurate diagnostic
tools have further fuelled the market. The Australian government in 2018
reduced the fee for capsule endoscopy. Also, the Canadian administration in
2013 launched a project in Bangladesh which aimed at developing economical and
affordable devices that can be used to distinguish gastrointestinal bleeding.
Capsule endoscopy is a major technological innovation in recent times due to
the high demand for primary diagnosis and management of bowel diseases. The
rapid advancement of technologies led to a paradigm shift in the progression of
broadening indications in clinical application. It is an invaluable asset for
clinical practice and outperforms other investigational modalities.
Additionally, increasing prevalence of gastric disorder increased the traction
during the forecast period. But the absence of skilled professionals alongside
the expensive cost of advanced technologies has restrained the growth of the
market.
North America market is expected to witness high market share in the global market due to the high acceptance of advanced technologies. It is followed by the European region and it accounts a significant share in the global market. Manufacturers in developed economies are mainly focused on organic growth strategies. Asia-Pacific region is expected to witness a high market growth rate during the forecast period. Changing economic conditions in Asia Pacific region created huge opportunities for manufacturing companies. Latin America and Rest of the world market are expected to account a small fraction of market share due to limited adoption.
Capsule Endoscopy market players include CapsoCam Plus, Chongqing Jinshan Science & Technology, IntroMedic Inc., Olympus Global, Medtronic, Given Imaging Ltd and others.
Capsule
Endoscopy Market Restraint:
• Absence of skilled
professionals
• Expensive cost of advanced technologies
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- Capsule
Endoscopy Market Segmentation
By Component
• Endoscopy Capsule Systems
• Workstations and Recorders - By End User
• Hospitals
• Pathology Laboratories
• Outpatient Centre - By Region:
• North America
• Latin America
• Europe
• Asia Pacific
• Rest of the World
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Competitive Landscape:
• Tier 1 players- established
companies in the market with a major market share
• Tier 2 players
• Emerging players which are growing rapidly
• New Entrants
FutureWise Key Takeaways
• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth
Objectives of the Study:
• To provide with an
exhaustive analysis on the global capsule endoscopy market by component, by end
user, and by region
• To cater comprehensive information on factors impacting market
growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall
market
• To predict the market size, in key regions (along with
countries)—North America, Europe, Asia Pacific, Latin America, and the Middle
East
• To record evaluate and competitive landscape mapping- product
launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares,
strategies, financials and core competencies
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