Capsule Endoscopy Market – Overview
The capsule endoscopy procedure is used where the traditional endoscopy is ineffective. Capsule endoscopy helps to capture internal images of the digestive tract using a small camera, transmitter, battery, and light sources. Capsule endoscopy is majorly performed in the diagnosis of gastrointestinal complications such as small intestinal bleeding, chronic pain, ulcer, and abnormal tissue growth.
The real-time data provided by the capsule help expediating diagnosis of gastrointestinal complications and hence, the faster treatment and recovery. As a result, the uptake of capsule endoscopy is widening rapidly. This, in turn, is allowing the capsule endoscopy to evolve further, escalating its market on the global platform.
Acknowledging the traction, this market is witnessing currently; Market Research Future (MRFR) in its recently published study report asserts that the global capsule endoscopy market will garner exponential accruals registering approximately 8.7% CAGR throughout the forecast period (2018-2023).
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Global Capsule Endoscopy Market – Growth and Analysis
Additional factors substantiating market growth include the growing prevalence of intestinal diseases and cancerous tumors and diseases. Factors such as the changing lifestyle and the inclination towards the sedentary lifestyle among people are fostering the market growth, leading to the occurrence of gastrointestinal diseases and stomach cancer.
Undoubtedly, technological advancements transpired into the field of medical science qualifies as a predominant factor propelling the market growth. Seminal efforts & investments put into the R&D activities to bring the betterments in the endoscopy are driving the market growth. Favorable reimbursement policies are playing a significant role, propelling the market growth to an extent.
On the other hand, factors such as the high cost of capsule endoscopy, limited reimbursement, and the risk of capsule retention are obstructing the market growth. Also, the low awareness among physicians about the benefits of capsule endoscopy acts as a headwind that hampers the growth of the capsule endoscopy market.
Capsule Endoscopy Market – Key Players
The fervent players leading the global capsule endoscopy market include IntroMedic Co., Ltd., Given Imaging (Israel), and Olympus Corporation, CapsoVision Inc., Fujifilm Holding Corporation, Chongqing Jinshan Science & Technology (Group) Co., Ltd, Check-Cap Ltd., and RF System lab.
Global Capsule Endoscopy Market – Segments
MRFR has segmented the analysis into five key dynamics; for better understanding: –
By Type : Wireless Capsule Endoscopy, Workstation, and Receiver Capsule Endoscopy among others.
By Purpose : Investigation, Treatment, and Diagnostics among others.
By Application : Crohn’s Disease, Intestine Disease, and GIT Bleeding among others.
By End-user : Clinics & Hospitals, Diagnostic Centers, and Medical Research Institutes among others.
By Regions : Europe, North America, APAC and the Rest-of-the-World.
Capsule Endoscopy Market – Regional Analysis
North America accounts for the dominating market in the global capsule endoscopy market, holding the largest market share. Factors influencing the market growth include the increasing number of gastrointestinal cases, increase in inflammatory bowel diseases, and the increase in the number of colon cancer patients, government initiatives, and technological advancements in the region.
Moreover, factors such as the presence of a well-proliferated healthcare sector and the leading market players alongside the availability of skilled healthcare professional fuel the growth of the market. Continuing with the same growth trends, the capsule endoscopy market in the region will retain its dominance throughout the assessment period.
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The European region holds the position of the world’s second-largest market for capsule endoscopy following the North American market closely. This market is fostered by the resurging economic conditions that are increasing the per capita healthcare expenses and penetration of healthcare in the region.
Additionally, huge market growth in countries like the UK, Germany & France drives the growth of the regional market on a large scale.
Furthermore, the increasing demand for advanced diagnostic and treatment methods, the research and development expenditure provided by the public and private associations, increasing competition among key players, increasing patient population, and amendments in reimbursement of healthcare policies are expected to foster the market growth in the European region.
The Asia Pacific market for the capsule endoscopy perceives an exponential growth, emerging as one of the promising markets.
Attributing to the factors such as the huge patient population and the availability of low-cost procedures & drugs to treat the diseases, growing markets in Indian and China will lead the market growth. Additional factors that would support the market growth in the region include favorable government policies and others.
Capsule Endoscopy Market – Competitive Landscape
The fiercely competitive capsule endoscopy market appears to be fragmented due to many large and small-scale players churning the competition in the market. Through the strategic initiatives such as partnership, acquisition, expansion, product & technology launch, and collaboration, these players try to gain a competitive edge in the market.
Industry/Innovations/Related News
December 13, 2018 – Researchers at the Massachusetts Institute of Technology published their study of an ingestible capsule that can be monitored outside the body for health data, using Bluetooth wireless technology that they have developed.
The capsule could deliver drugs as well as sense the condition of its surroundings in the gut, including gastrointestinal diseases, infections or allergic reactions, the researchers explained.
Once these health conditions were spotted, one of the gastric devices could release the proper medicine in response. The 3D-printed capsule could someday become “a personalized diagnostic and treatment that is widely accessible.
December 13, 2018 – University partners in the UK, Glasgow, Dundee, Heriot-Watt and Leeds, and features a multidisciplinary team of researchers ranging from electrical and mechanical engineers to life scientists and clinical fellows who are working together under a 5-year, USD 10MN programme – Sonopill acknowledged efforts from the National Instruments and combined LabVIEW software in accelerating the design and test of Sonopill.
The team Sonopill required a single, unified instrumentation platform to take it from component and system integration testing, to lab-based in vitro testing, to in vivo pre-clinical trials.
The solution came from National Instruments and combined LabVIEW software with a broad range of NI Hardware, including PXIe, CompactRIO, myRIO, and Diagnostic Sonar’s FlexRIO-based FIToolbox, to implement a full-featured system taking the Sonopill prototypes from initial characterization through encapsulation to final deployment for pre-clinical validation.
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Some Points form TOC for Capsule Endoscopy Market Research Report – Forecast to 2023
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope of the Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.1 Drivers
4.2 Restrains
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power of Suppliers
TOC Continued…
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