Capsule endoscopes are tiny wireless endoscopic systems that capture images of the body's interior. The endoscopic camera is small enough to fit in a vitamin capsule and can capture hundreds of images, which are subsequently sent to the recorder. Physicians can use capsule endoscopes to acquire images of parts of the body that a regular endoscope cannot reach. It is a technique used for the diagnosis and monitoring of gastrointestinal disorders, including small bowel diseases, colonic diseases, and esophageal diseases using wireless video capsule, data recorder, software, and workstations.
Major factors that drive the growth of the global capsule endoscopy systems market include rise demand for minimally invasive diagnostic procedures, increase in prevalence of cancer, growth in geriatric population, and surge in introduction of technologically advanced capsules. However, high cost of treatments and endoscopy equipment, limited reimbursement, and the risk of retention of the capsule may require endoscopic retrieval or rarely surgical resection restrain the market growth. Conversely, many innovative and technologically advanced products gain commercialization during the forecast period, owing to increase in R&D activities of key market players.
The global capsule endoscopy systems market is segmented on the basis of component, disease, and region. According to component, it is divided into capsule endoscopes and recorders & workstations. Depending on disease, it is divided into small intestine disorder, esophageal disorder, and colonic disorder. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA).
The major companies profiled in the report 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.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the capsule endoscopy system market analysis from 2020 to 2030 to identify the prevailing capsule endoscopy system market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the capsule endoscopy system market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global capsule endoscopy system market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Component
- Capsule Endoscope
- Work stations and recorders
By Disease Type
- Small Intestine Disorder
- Esophageal disorder
- Colonic disorder
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Olympus Corporation
- CapsoVision Inc.
- Chongqing Jinshan Science and Technology Group Co.
- IntroMedic Co.
- RF Systems Lab
- Shangxian Minimal Invasive Inc.
- MEDTRONIC PLC.
- Fujifilm Holding Corporation
- Check Cap
- Anx Robotica
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Table of Contents
Executive Summary
According to this report titled, 'Capsule Endoscopy System Market,' the capsule endoscopy system market was valued at $616.57 million in 2020, and is estimated to reach $2.0 billion by 2030, growing at a CAGR of 12.4% from 2021 to 2030.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.
Increase in prevalence of cancer, growth in global geriatric population, rise in demand for minimally invasive diagnostic procedures, and surge in introduction of technologically advanced capsules drive the market growth However, high cost of treatments and endoscopy equipment, limited reimbursement, and risk of retention of the capsule, which may require endoscopic retrieval or rarely surgical resection hinder the capsule endoscopy system market growth. Conversely, continuous product innovations and introduction of capsule endoscopy in untapped countries are expected to provide lucrative growth opportunities for key market players.
On the basis of component, in capsule endoscopy system market size the capsule endoscopes segment is expected to dominate the market throughout the forecast period. In addition, this segment register the highest CAGR of 12.7% during the capsule endoscopy system market forecast period, owing to potential to fulfil the need of minimally invasive tools to explore the gastrointestinal tract and allow the visualization of inaccessible parts. Furthermore, capsule endoscopy is popular among medical and healthcare experts, owing to its property of obtaining a faster and more accurate diagnosis.
Depending on disease in capsule endoscopy system market analysis, the small intestine disorder segment accounted for a major capsule endoscopy system market share of the market share in the capsule endoscopy systems market in 2020. This segment is expected to exhibit a prominent growth rate, owing to the large patient base suffering from small bowel disease. In addition, it has an establish reimbursement policies in developed and developing economies.
Region wise in capsule endoscopy system industry, North America accounted for more than 12.3% of the global market share in 2020, and is expected to remain dominant throughout the forecast period owing due to rise in preference for minimally invasive screening procedures, surge in technologically enhanced products and systems, and increase in construction of healthcare infrastructure. Asia-Pacific is projected to register the highest CAGR of 13.2% during the forecast period, owing to improving healthcare infrastructure, rising geriatric population,and significant economic development.
The major companies profiled in the capsule endoscopy system industry report include in 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, Anhan Technology (wuhan) co., Ltd.
Key findings of the Study
- By component, the capsule endoscopes segment is expected to experience rapid growth in the market, and is projected to grow at a CAGR of 12.7% from 2021 to 2030.
- By disease, small intestine disorder segment is projected to grow at a CAGR of 12.2% during the forecast period.
- Region-wise, North America is expected to experience growth at the highest rate, registering a CAGR of 12.2% during the forecast period.
Companies Mentioned
- Olympus Corporation
- CapsoVision Inc.
- Chongqing Jinshan Science and Technology Group Co.
- IntroMedic Co.
- RF Systems Lab
- Shangxian Minimal Invasive Inc.
- MEDTRONIC PLC.
- Fujifilm Holding Corporation
- Check Cap
- Anx Robotica
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 210 |
Published | April 2022 |
Forecast Period | 2020 - 2030 |
Estimated Market Value ( USD | $ 616.57 million |
Forecasted Market Value ( USD | $ 2000 million |
Compound Annual Growth Rate | 12.5% |
Regions Covered | Global |
No. of Companies Mentioned | 10 |