Capsule Endoscopy System Market Size, Share, Competitive Landscape and Trend Analysis Report, by Component, By Disease Type : Global Opportunity Analysis and Industry Forecast, 2021-2030

Capsule Endoscopy System Market Research, 2030

The global capsule endoscopy system market was valued at $616.57 million in 2020, and is projected to reach $2.0 billion by 2030, growing at a CAGR of 12.4% from 2021 to 2030.

Capsule endoscopy is a non-invasive technique that allows the complete examination of the gastrointestinal tract using a wireless and disposable device known as a video capsule, which is equipped with a camera, battery, transmitter, and a light source. Video capsules capture images in the esophagus, stomach, and small intestine, which are utilized for the diagnosis of gastrointestinal diseases. Integrated camera in the capsule takes two pictures every second and the battery of the capsule lasts for 8 hours. Capsule endoscopy systems include a work station, data recorder, sensor, and software, which are used in integration with wireless capsules. Data recorder is a device, which needs to be worn around the  waist of the patient so that the data captured by video capsule can be transmitted through sensors. Data recorders can also locate the position and movement of the capsule inside the stomach.

Gastrointestinal disorders affect millions of people worldwide and has a huge economic impact that includes healthcare cost. GI disorder includes colorectal cancer, Gastroesophageal reflux disease (GERD), functional constipation, and inflammatory bowel disease. capsule endoscopy is a non-invasive technique that allows the complete examination of the gastrointestinal tract using a wireless and disposable device known as a video capsule, which is equipped with a camera, battery, transmitter, and a light source. Video capsules capture images in the esophagus, stomach, and small intestine, which are utilized for the diagnosis of gastrointestinal diseases. Integrated camera in the capsule takes two pictures every second and the battery of the capsule lasts for 8 hours. Capsule endoscopy systems include a work station, data recorder, sensor, and software, which are used in integration with wireless capsules. Data recorder is a device, which needs to be worn around the  waist of the patient so that the data captured by video capsule can be transmitted through sensors. Data recorders can also locate the position and movement of the capsule inside the stomach. Technological advancements in the capsule endoscopy systems have expanded the range of applications such as small bowel disease, esophageal disease and most recently colonic disease. Advancement in technology has improved diagnosis, monitoring and visualization features of traditional endoscopy. Advanced technologies have led to develop the newer types of capsule endoscopes, which include small bowel capsule endoscope, colon capsule endoscope and esophagus capsule endoscopes among others. The advances have brought a high level of accuracy, safety and precision to endoscopy, which would have been critical to achieve, just a few years ago.Coronavirus (COVID-19) was discovered in December 2019 in Hubei province of Wuhan city in China. The disease is caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted among humans.

The disease rapidly spread to other parts of the globe post its discovery in Wuhan. Moreover, this virus causes various symptoms in patients, which range from common symptoms to serious symptoms. For instance, common symptoms include fever, dry cough, and fatigue. However, serious symptoms include difficulty in breathing or shortness of breath, chest pain and loss of speech or movement. Furthermore, the virus has high potential of lethality in geriatric population. On March 11, 2020, the World Health Organization declared it  as pandemic. In addition, there are only a few vaccines that received emergency approvals for COVID-19 prevention. Thus, social distancing is observed as the most important measure to limit the spread of this disease. Furthermore, to maintain social distancing, various countries across the globe have adopted nationwide lockdowns.

COVID-19 negatively impacts the capsule endoscopy systems market, owing to the postponement, delay, cancellation, and reduction in the number of elective surgeries performed during the COVID-19 pandemic. However, the supply chain was severely impacted, owing to the travel restrictions, lockdown, and halt in  production. Furthermore, owing to the outbreak of COVID-19, most markets experience a decline in product demand, especially in the capsule endoscopy systems market.

Capsule endoscopy system market size are expected to exhibit significant market growth during the forecast period, owing to rise in demand for minimally invasive diagnostic procedures. The key factors that drive the growth of market include increase in prevalence of cancer, growth in geriatric population, and surge in introduction of technologically advanced capsules. However, high cost of treatments, endoscopy equipment, limited reimbursement, and risk of retention of the capsule, which may require endoscopic retrieval or rarely surgical resection hamper the market growth. Conversely, many innovative and technologically advanced products gain commercialization during the forecast period, owing to increase in research and development activities of key market players.

Global Capsule Endoscopy Systems Segmentation

The segments of capsule endoscopy systems market analysis on the basis of component, disease, and region. According to component, it is divided into capsule endoscopes and recorders & workstations. Depending on disease, it is divided into small intestine disorder, esophageal disorder, and colonic disorder. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Global Capsule Endoscopy Systems, by Component

By component,  the capsule endoscopes were the major revenue contributor in 2020, and is anticipated to continue this trend during the forecast period. In addition, this segment is anticipated to grow at the fastest rate during the forecast period, owing to the potential to fulfil the need of minimally invasive tools to explore the gastrointestinal tract and allow the visualization of inaccessible parts. Furthermore, capsule endoscopy is becoming more popular among medical and healthcare experts, owing to property of obtaining faster and more accurate diagnosis, which, in turn, boosts the capsule endoscopy system market growth.

Global Capsule Endoscopy Systems, by Disease

Depending on disease, the small intestine disorder segment dominated the market, and is expected to remain dominant during the forecast period. This segment is expected to exhibit a prominent growth rate, owing to the large patient base suffering from small bowel disease, In addition, it has an establish reimbursement policies in developed and developing economies.

Capsule Endoscopy Systems, by Region

Region wise in capsule endoscopy system industry, North America dominated the market in 2020, accounting for the highest capsule endoscopy system market share, and is anticipated to maintain this trend throughout the capsule endoscopy system market forecast period, owing to rise in preference for minimally invasive screening procedures, surge in technologically enhanced products and systems, and  improvement in healthcare infrastructure. In addition, rise in awareness regarding early screening of diseases, including  gastrointestinal disorders, cancer, and other chronic conditions boost the growth of capsule endoscopy system market opportunity in the region.

This report provides comprehensive competitive analysis and profiles of prominent capsule endoscopy system industry players, including Given Imaging (Medtronic), IntroMedic Co., Ltd., Olympus Corporation, Chongqing Jinshan Science & Technology (Group) Co., Ltd., RF System lab, CapsoVision, Shengxian Minimal Invasive Inc., Check -Cap, Accuread Endoscopy Inc., Fujifilm Holding Corporation, and  Anhan Technology (wuhan) co., Ltd.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the capsule endoscopy system market analysis from 2020 to 2030 to identify the prevailing capsule endoscopy system market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the capsule endoscopy system market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global capsule endoscopy system market trends, key players, market segments, application areas, and market growth strategies.

  Capsule Endoscopy System Market Report Highlights

Aspects	Details
Market Size By 2030	USD 2 billion
Growth Rate	CAGR of 12.4%
Forecast period	2020 - 2030
Report Pages	210
By Component	Capsule Endoscope Work stations and recorders
By Disease Type	Small Intestine Disorder Esophageal disorder Colonic disorder
By Region	North America  (U.S., Canada, Mexico) Europe  (Germany, France, U.K., Italy, Spain, Rest of Europe) Asia-Pacific  (Japan, China, India, Australia, South Korea, Rest of Asia-Pacific) LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players	IntroMedic Co., CapsoVision Inc., Chongqing Jinshan Science and Technology Group Co., Check Cap, Shangxian Minimal Invasive Inc., RF Systems Lab, MEDTRONIC PLC., Fujifilm Holding Corporation, Olympus Corporation, Anx Robotica

Analyst Review

This section provides various opinions of the top level CXOs in the capsule endoscopy industry. In accordance to several surveys conducted, the popularity of capsule endoscopy technique will witness a significant growth. Presently, small bowel capsule endoscopes are popular and widely used across all the regions. However, the colon capsule endoscopy would gradually gain prominence in the global capsule endoscopy systems market, owing to the advance technologies, large patient population of colonic disease .Few of the key opinion leaders have highlighted the issues related to the capsule’s navigation inside the stomach and short battery life. However, some of the leading players are now developing magnetically guided capsule endoscope, which would help to navigate the capsule inside the stomach using magnetic power. Among several gastrointestinal tract diseases, small bowel disease dominates the market, owing to the wide availability of small bowel capsule endoscope, large patient population, and favorable reimbursement policies in developed regions. Region wise, North America dominates the capsule endoscopy systems market and would continue to lead in future, due to the extensive use of capsule endoscopy technique and high disposable income in this region. However, Asia-Pacific would emerge as a lucrative market in the future, due to the growth in awareness among patient population, increase in burden of GI diseases, and improvement in healthcare infrastructure.

Author Name(s) : Swapna Singh | Roshan Deshmukh

Related Tags

• Endoscopy
• Capsules
• Pain Management