Capsule Endoscopy Market is accounted approximate USD 214.7 million in 2020 and it is expected to reach approximate USD 775.1 million by 2030 with a CAGR of 13.7% during forecast period.  Capsule endoscopy is a procedure that is used for the visualisation of the interior areas of intestines and other parts of the digestive, respiratory, and urinary tract. The process involves swallowing of a pill-sized capsule endoscope by the patient which further enables in capturing the images of the digestive tract. The captured images are then transferred to a recorder which is mounted on a waist belt. The recorder also tracks the position and movement of the capsule inside the body. The images captured are later investigated for the detection of any digestive disorders. This method eliminates the use of any surgical method for visualisation and is more efficient than the conventional endoscopy which uses wire. The primary components of a capsule endoscope includes camera, batteries, transmitter, and light source. The integrated camera in the capsule takes around two pictures per second and the battery lasts for almost 8 hours. The growing occurrence of chronic disorders and superior advantage over conventional endoscopy are the major factors that are driving the capsule endoscopy market globally.  

Market Segmentation:

On the basis of product type, the capsule endoscopy market can be classified into colonic capsule, bowel capsule, and esophageal capsule. Based on component type, the market can be segmented into wireless capsule endoscope, capsule endoscopy image recorder, and capsule endoscopy image workstation. According to application, the capsule endoscopy market can be categorised into gastrointestinal tract, respiratory tract, urinary tract, female reproductive tract, and others. By end usage, the market is segmented into hospitals, clinics, research centres, and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Market Dynamics and Factors:

The rising geriatric population across the globe has contributed to various chronic diseases of the digestive tract like gastrointestinal bleeding, Crohn’s disease, colon cancers, small intestinal tumours, and many others. For instance, according to the American Cancer Society, around 97220 cases of colon cancer were reported in 2018. The demand for faster and precise diagnostic tools along with the rising digestive tract disorders is propelling the growth of the capsule endoscopy market. Technological advancements, growing awareness among people, and rising income levels have forced the transformation of conventional endoscopic procedures to capsule endoscopy which in turn has fuelled the growth of the market. According to BMJ journal report, the global colon cancer cases are going to reach a figure of 2.2 million by 2030, which in turn will provide huge growth opportunity for the growth of the capsule endoscopy market. However, high costs associated with the advanced capsule endoscopy devices and dearth of skilled technicians are certain factors that will restrain the growth of the capsule endoscopy market.

Geographic Analysis:

North America is expected to dominate the global capsule endoscopy market in terms of market share during the forecast period. The major factors attributing towards this dominant market position include growing incidences of gastrointestinal disorders and colon cancer; presence of major manufacturers and advanced healthcare facilities; and favourable reimbursement policy in the region. For instance, according to American Cancer Society, around 141000 people were diagnosed with colon cancer out of which 49000 died in 2011. The European region is estimated to be the second-most dominant market for capsule endoscopy during the forecast period.  Rising prevalence of Crohn’s disease and ulcerative colitis are expected to boost the market growth in the region.  Asia Pacific region is anticipated to witness maximum growth during the forecast period. Changing economic conditions, increased healthcare spending, and rising healthcare infrastructure are the key factors attributing towards the market growth in the APAC region.

Competitive Scenario:

The key players operating in the global capsule endoscopy market are –

IntroMedic, Olympus Corporation, Capsovision, Medtronic Plc., Chongqing Jinshan Science & Technology, Fujifilm Holding Corporation, Given Imaging Ltd., RF System Lab, Capsocam plus, AccuRead Endoscopy Inc.

Capsule Endoscopy Market Report Scope