DUBLIN, April 13, 2023 /PRNewswire/ — The “Capsule Endoscopy Market Size, Share, Trends, By Product, By End-use, By Application, By Component, and By Region Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.
The capsule endoscopy market has experienced substantial growth, with a market size of USD 507.5 Million in 2021 and an expected revenue CAGR of 8.8% during the forecast period.
The rise in the prevalence of gastro-intestinal disorders, increasing demand for minimally invasive procedures, and growing investments in Research & Development (R&D) activities are the major factors driving the market’s revenue growth. Furthermore, the consumers’ preference for minimally invasive therapeutic procedures, which avoid surgery, is also driving revenue growth.
Capsule endoscopy allows physicians to view internal images of the gastrointestinal tract. It involves swallowing a capsule fitted with a tiny camera that captures thousands of pictures while travelling through the digestive tract and small intestine. The procedure has been widely used for the diagnosis and treatment of gastrointestinal cancer, chronic abdominal pain, Crohn’s disease, celiac disease, excessive bleeding, and ulcers. This enables physicians to detect infections and abnormalities in the gastrointestinal tract to provide better and accurate treatment.
Companies are investing in R&D activities, working on product innovations, launching new products, forming partnerships, and mergers and acquisitions, which is another factor driving market revenue growth. In addition, incorporation of various technologies, such as AI-powered endoscopic modules, is also driving revenue growth.
For example, Medtronic India introduced GI Genius, an endoscopic module powered by Artificial intelligence (AI) to treat colon cancer, which helps doctors to find and cure colorectal cancer by providing real-time data. Such technological advancements are significantly driving revenue growth of the capsule endoscopy market.
Market Dynamics
Driver:
Rising demand for minimally invasive therapeutic treatment along with rising investments in capsule endoscopy
Growing awareness among individuals about the negative impacts of surgery has led to an increased preference for minimally invasive therapeutic treatments.
According to the National Centre for Biotechnology Information, patients find these treatments more appealing due to the fewer incisions required, less discomfort, no unsightly scars, and shorter hospital stays, resulting in reduced costs. Surgeons also prefer these procedures as they shorten the healing process and lower the possibility of side effects like intestinal adhesions, incisional hernias, and wound dehiscence.
Aggressive marketing and promotion of equipment by the healthcare sector further adds to its appeal, driving the growth of minimally invasive procedures and increasing demand for the capsule endoscopy market. Additionally, major companies are investing in R&D activities and product development.
Restraint:
Changes in legislation governing surgical interventions and endoscopic screening procedures
Capsule endoscopy is considered a safe procedure when other gastrointestinal (GI) diseases, such as bleeding, cannot be detected through traditional methods.
However, there is always a slight possibility that the capsule could become stuck in the digestive system, and bleeding is also a possibility, especially if the capsule passes through a closed area with inflammatory issues or tissue injury (stricture). In some cases, symptoms such as nausea, vomiting, and abdominal pain may occur after the procedure. Additionally, there is a risk of infection if the camera used in the GI tract is not properly sterilized and cleaned.
The COVID-19 pandemic has significantly impacted the capsule endoscopy market, as elective procedures were postponed, delayed, canceled, or underperformed. Changes in legislation governing surgical interventions and endoscopic screening procedures, supply chain interruptions, and a shortage of skilled professionals to carry out the diagnosis are other significant factors that are limiting the revenue growth of the market.
Key Topics Covered:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Capsule Endoscopy Market Segmentation & Impact Analysis
4.1. Capsule Endoscopy Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers’ analysis
4.2.2.1. Increasing prevalence of gastro-intestinal disorders
4.2.2.2. Rising demand for minimally invasive procedures
4.2.2.3. Technological innovations in endoscopic treatment
4.2.2.4. Increasing investments in Research & Development (R&D) activities
4.2.3. Market restraints analysis
4.2.3.1. Changes in legislation governing surgical interventions and endoscopic screening procedures
4.2.3.2. Side effects associated with capsule endoscopy
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price Trend Analysis
4.9. Customer Mapping
4.10. COVID-19 Impact Analysis
4.11. Global Recession Influence
Chapter 5. Capsule Endoscopy Market By Product Insights & Trends
5.1. Product Dynamics & Market Share, 2022 & 2030
5.2. Esophageal capsule
5.2.1. Market estimates and forecast, 2019 – 2030 (USD Million)
5.2.2. Market estimates and forecast, By Region, 2019 – 2030 (USD Million)
5.3. Colonic capsule
5.3.1. Market estimates and forecast, 2019 – 2030 (USD Million)
5.3.2. Market estimates and forecast, By Region, 2019 – 2030 (USD Million)
5.4. Bowel capsule
5.4.1. Market estimates and forecast, 2019 – 2030 (USD Million)
5.4.2. Market estimates and forecast, By Region, 2019 – 2030 (USD Million)
Chapter 6. Capsule Endoscopy Market By End-use Insights & Trends
6.1. End-use Dynamics & Market Share, 2022 & 2030
6.2. Hospitals
6.2.1. Market estimates and forecast, 2019 – 2030 (USD Million)
6.2.2. Market estimates and forecast, By Region, 2019 – 2030 (USD Million)
6.3. Ambulatory surgery centers
6.3.1. Market estimates and forecast, 2019 – 2030 (USD Million)
6.3.2. Market estimates and forecast, By Region, 2019 – 2030 (USD Million)
6.4. Clinics
6.4.1. Market estimates and forecast, 2019 – 2030 (USD Million)
6.4.2. Market estimates and forecast, By Region, 2019 – 2030 (USD Million)
6.5. Others
6.5.1. Market estimates and forecast, 2019 – 2030 (USD Million)
6.5.2. Market estimates and forecast, By Region, 2019 – 2030 (USD Million)
Chapter 7. Capsule Endoscopy Market By Application Insights & Trends
7.1. Application Dynamics & Market Share, 2022 & 2030
7.2. Obscure Gastrointestinal Bleeding (OGIB)
7.2.1. Market estimates and forecast, 2019 – 2030 (USD Million)
7.2.2. Market estimates and forecast, By Region, 2019 – 2030 (USD Million)
7.3. Small Intestine Tumor
7.3.1. Market estimates and forecast, 2019 – 2030 (USD Million)
7.3.2. Market estimates and forecast, By Region, 2019 – 2030 (USD Million)
7.4. Crohn’s Disease
7.4.1. Market estimates and forecast, 2019 – 2030 (USD Million)
7.4.2. Market estimates and forecast, By Region, 2019 – 2030 (USD Million)
Chapter 8. Capsule Endoscopy Market By Component Insights & Trends
8.1. Component Dynamics & Market Share, 2022 & 2030
8.2. Wireless Capsule
8.2.1. Market estimates and forecast, 2019 – 2030 (USD Million)
8.2.2. Market estimates and forecast, By Region, 2019 – 2030 (USD Million)
8.3. Image Recorder
8.3.1. Market estimates and forecast, 2019 – 2030 (USD Million)
8.3.2. Market estimates and forecast, By Region, 2019 – 2030 (USD Million)
8.4. Image Workstation
8.4.1. Market estimates and forecast, 2019 – 2030 (USD Million)
8.4.2. Market estimates and forecast, By Region, 2019 – 2030 (USD Million)
Chapter 9. Capsule Endoscopy Market Regional Outlook
Chapter 10. Competitive Landscape
10.1. Market Revenue Share By Manufacturers
10.2. Manufacturing Cost Breakdown Analysis
10.3. Mergers & Acquisitions
10.4. Market Positioning
10.5. Strategy Benchmarking
10.6. Vendor Landscape
Chapter 11. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/f0ay2g
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