Outlook on the Capsule Endoscopy Global Market to 2028 – Featuring Olympus, IntroMedic and CapsoVision Among Others – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Global Capsule Endoscopy Market Size, Share & Trends Analysis Report by Product, Application (OGIB, Small Intestine Tumor), End Use (Hospitals, Ambulatory Surgery Centers), Region, and Segment Forecasts, 2021-2028” report has been added to ResearchAndMarkets.com’s offering.
The global capsule endoscopy market size is expected to reach USD 939.5 million by 2028, according to the report. The market is expected to expand at a compounded annual growth rate (CAGR) of 8.7% from 2021 to 2028.
Companies Mentioned
- Olympus Corporation
- Given Imaging (Medtronic Plc)
- IntroMedic, Co. Ltd.
- Chongqing Jinshan Science & Technology (Group) Co. Ltd
- CapsoVision
- RF System lab
The rising prevalence of colorectal cancer, gastrointestinal diseases, and other intestinal disorders is one of the major factors supporting market growth. In addition, the growing demand for accurate, faster, and precise diagnostic tools coupled with favorable government initiatives are some of the other factors boosting the market growth.
Based on the product, the capsule endoscopes segment dominated the market in 2020 and is anticipated to register a significant growth rate over the forecast period. It is attributed to the rising utilization rates of capsule endoscopes for the screening of the esophagus, colon, and small intestine in recent years. In addition, the introduction of technologically advanced wireless capsules along with the presence of affirmative reimbursement policies are likely to drive the growth of the segment in the coming years.
Capsule endoscopes are further divided into the type of small bowel, esophageal, and colon. In 2020, the small bowel endoscopy capsules segment held the largest revenue share of 72.3%. This share is attributable to the benefits provided by these devices in the diagnosis and treatment of diseases such as inflammatory bowel disease, Obscure GI Tract Bleeding (OGIB), Crohn’s disease, and small bowel neoplastic lesions. In addition, the growing prevalence of these conditions that would require the utilization of small bowel capsules for diagnosis is anticipated to support market growth during the forecast period.
The pandemic of COVID-19 has significantly impacted the market majorly due to the rescheduling, postponement, or cancellation of elective surgeries. In addition, supply chain disruptions and changes in the regulatory scenario for curbing the infection caused due to the COVID-19 virus are other factors that have hindered the market growth during the COVID-19 pandemic. Furthermore, the training of medical professionals for capsule endoscopy was restricted due to the pandemic. According to a 2021 article published in BMJ Journals, some of the institutions have undertaken e-learning modules for capsule endoscopy training due to pandemic situations and are planning to move to traditional training patterns post-pandemic.
Capsule Endoscopy Market Report Highlights
- The market is anticipated to be valued at USD 939.5 million by 2028, owing to the growing demand for accurate, faster, and precise diagnostic tools coupled with the rising prevalence of colorectal cancer, gastrointestinal diseases, and other intestinal disorders
- The capsule endoscopes segment dominated the market and accounted for the highest revenue share in 2020, owing to rising utilization rates of such endoscopes for the screening of the esophagus, colon, and small intestine
- In 2020, the Obscure GI Tract Bleeding (OGIB) segment accounted for the highest revenue share in the market due to the advantages of capsule endoscopy in the detection of obscure GI tracts bleeding, such as real-time visualization of the small intestine and faster diagnosis
- The hospitals segment accounted for the highest revenue share due to the large utilization and adoption of capsule endoscopy in hospital systems and favorable reimbursement policies
- North America accounted for the largest revenue share of the market in 2020 due to various factors such as the increasing adoption of technologically advanced capsule-based endoscopy products and systems and rising preference for minimally invasive surgeries
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 Ancillary Market Outlook
3.2 Penetration and Growth Prospect Mapping
3.3 Market Driver Analysis
3.4 Market Restraint Analysis
3.5 Capsule Endoscopy Market Analysis Tools
3.6 Impact of COVID-19 on the market
Chapter 4 Capsule Endoscopy Market: Competitive Landscape Analysis
4.1 Recent Developments & Impact Analysis, By Key Market Participants
4.2 Company/Competition Categorization (Key Innovators, Market Leaders, Emerging Players)
4.3 Company Market Position Analysis
Chapter 5 Capsule Endoscopy Market: Product Estimates & Trend Analysis
Chapter 6 Capsule Endoscopy Market: Application Estimates & Trend Analysis
Chapter 7 Capsule Endoscopy Market: End – Use Estimates & Trend Analysis
Chapter 8 Capsule Endoscopy Market: Regional Estimates & Trend By Product, Application and End-use
Chapter 9 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/7g7dag
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