Dublin, Oct. 20, 2023 (GLOBE NEWSWIRE) -- The "Capsule Endoscopy Market Size, Share & Trends Analysis Report By Application (OGIB, Crohn's Disease, Small Intestine Tumor), By End-use (Hospitals, ASCs/Clinics), By Product, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global capsule endoscopy market is on a trajectory of significant growth, with expectations of reaching a substantial USD 1,020.5 million by 2030.
This growth is anticipated to accelerate at a compelling compounded annual growth rate (CAGR) of 9.6% from 2023 to 2030. Key drivers of this market expansion include the rising prevalence of colorectal cancer, gastrointestinal diseases, and other intestinal disorders, coupled with the increasing demand for accurate, faster, and precise diagnostic tools. Favorable government initiatives also contribute to market growth.
Key Factors Driving Market Growth:
- Healthcare Trends: The rising prevalence of colorectal cancer, gastrointestinal diseases, and other intestinal disorders is a significant factor supporting market growth. The need for accurate and timely diagnosis of these conditions is driving the demand for capsule endoscopy.
- Advanced Diagnostic Tools: The demand for diagnostic tools that offer accuracy, speed, and precision is on the rise. Capsule endoscopy fulfills these requirements, further boosting its adoption in healthcare settings.
- Government Initiatives: Favorable government initiatives and policies are creating a conducive environment for the growth of the capsule endoscopy market, making these diagnostic tools more accessible to patients.
Product Segmentation:
In 2022, wireless capsule endoscopy dominated the market, driven by increased utilization rates for screening the esophagus, colon, and small intestine. The introduction of technologically advanced wireless capsules and positive reimbursement policies are expected to fuel further growth in this segment.
Applications and End-Use:
Small bowel endoscopy capsules held the largest revenue share in 2022, owing to their effectiveness in diagnosing diseases such as inflammatory bowel disease, obscure GI tract bleeding (OGIB), Crohn's disease, and small bowel neoplastic lesions. Hospitals accounted for the largest revenue share in the end-use segment due to the widespread utilization of capsule endoscopy and supportive reimbursement policies.
Regional Insights:
North America led the market in 2022, with a substantial revenue share of 43.6%. Factors contributing to this dominance include the adoption of technologically advanced capsule-based endoscopy products and systems, a preference for minimally invasive surgeries, and a well-developed healthcare infrastructure.
Impact of COVID-19:
The COVID-19 pandemic had a significant impact on the market, with disruptions in elective surgeries, supply chain disruptions, regulatory changes, and restrictions on medical professional training for capsule endoscopy. However, institutions adapted by implementing e-learning modules for training, with plans to return to traditional training patterns post-pandemic.
The global capsule endoscopy market presents significant growth opportunities driven by the need for advanced diagnostic tools and the rising prevalence of gastrointestinal disorders. To stay informed and competitive in this dynamic market, access the full report.
Companies Mentioned
- Shangxian Minimal Invasive Inc.
- IntroMedic Co.
- Medtronic Plc.
- Fujifilm Holding Corporation
- Olympus Corporation
- Anx Robotica
- Chongqing Jinshan Science and Technology Group Co.
- CapsoVision Inc.
- Check-Cap, RF Systems Lab
- Given Imaging (Medtronic Plc)
- RF System Lab
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 118 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $482.8 Million |
| Forecasted Market Value (USD) by 2030 | $1020.5 Million |
| Compound Annual Growth Rate | 9.6% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Capsule Endoscopy Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Market Dynamics
3.3.1. Market driver analysis
3.3.2. Market restraint analysis
3.4. Capsule Endoscopy Market Analysis Tools
Chapter 4. Capsule Endoscopy Market: Product Estimates & Trend Analysis
4.1. Capsule Endoscopy Market, By Product Key Takeaways
4.2. Capsule Endoscopy Market: Movement & Market Share Analysis, 2022 & 2030
4.3. Wireless Capsule
4.3.1. Wireless capsule market estimates and forecasts, 2018 to 2030 (USD Million)
4.4. Systems
4.4.1. Systems market estimates and forecasts, 2018 to 2030 (USD Million)
Chapter 5. Capsule Endoscopy Market: Application Estimates & Trend Analysis
5.1. Capsule Endoscopy Market, By Application Key Takeaways
5.2. Capsule Endoscopy Market: Movement & Market Share Analysis, 2022 & 2030
5.3. OGIB (obscure GI tract bleeding)
5.3.1. OGIB (obscure GI tract bleeding) market estimates and forecasts, 2018 to 2030 (USD Million)
5.4. Crohn's Disease
5.4.1. Crohn's disease market estimates and forecasts, 2018 to 2030 (USD Million)
5.5. Small Intestine Tumor
5.5.1. Small intestine tumor market estimates and forecasts, 2018 to 2030 (USD Million)
5.6. Others
5.6.1. Others market estimates and forecasts, 2018 to 2030 (USD Million)
Chapter 6. Capsule Endoscopy Market: End-use Estimates & Trend Analysis
6.1. Capsule Endoscopy Market, By End-use Key Takeaways
6.2. Capsule Endoscopy Market: Movement & Market Share Analysis, 2022 & 2030
6.3. Hospitals
6.3.1. Hospitals market estimates and forecasts, 2018 to 2030 (USD Million)
6.4. Ambulatory Surgery Centers/Clinics
6.4.1. Ambulatory surgery centers/clinics delivery market estimates and forecasts, 2018 to 2030 (USD Million)
6.5. Other End-uses
6.5.1. Other end-uses market estimates and forecasts, 2018 to 2030 (USD Million)
Chapter 7. Capsule Endoscopy Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/yw4w57
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