Global Capsule Endoscopy Market Size, Share, Growth Analysis, By Product, By Application, By End User - Industry Forecast 2022-2028

Capsule Endoscopy Market was valued at USD 465.5 million in 2021, and the market size is estimated to reach USD 855.62 million by 2028, at a CAGR of 8.7% over the forecast period (2022-2028).

Modern endoscopy is rapid, produces high-quality images, and carries little hazards, making it very beneficial in many medical specialties. Endoscopies are performed on tens of millions of people each year. One of the major factors driving the growth of the global capsule endoscopy market is the rise in a number of chronic diseases, including as cancer and gastrointestinal disorders, in both developed and developing countries.

Due to the rise in the use of minimally invasive surgical procedures, which are primarily used to diagnose gastrointestinal disorders like OGIB (Obscure GI Tract Bleeding), crohn's disease, cancer, and small intestine tumours, the demand for endoscopic devices and electronic capsules has also increased. Endoscopes are medical instruments that need just minor bodily penetration, such as the mouth or anus. This endoscopy offers exceptionally quick and effective findings for screening such gastrointestinal problems, spurring market growth. For instance, according to the CDC, 14.8 million Americans suffer from ulcers. About 5.9% of all adult patients with ulcers have digestive system diseases as their primary diagnosis when they go to the doctor.

Also, in 2020, there were roughly 2.5 million cases of inflammatory bowel disease in the United States. About 3.5 million Americans are expected to have IBD by the year 2030. Due to the rise in digestive diseases, there is a greater need for minimally invasive therapies, which has sped up the development of the capsule endoscopy market.

The growth of the worldwide capsule endoscopy market is also being fueled by the creation of hybrid imaging techniques, improvements in capsule endoscopy technology, and a rise in patient preference for advanced diagnostics.

Top-down and bottom-up approaches were used to estimate and validate the size of Asia Pacific Capsule Endoscopy Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report:

The global capsule endoscopy market is segmented based on product, application, end user, and region. Based on product, the capsule endoscopy market is segmented into capsule endoscopes and systems. Based on application, the capsule endoscopy market is segmented into obscure gastrointestinal bleeding, Crohn's disease, small intestine tumor. Based on end user, the capsule endoscopy market is segmented into hospitals, diagnostic laboratories, specialty clinics. Based on region, the capsule endoscopy market is categorized into North America, Europe, Asia-Pacific, and MEA.

Driver

Technology advancements have broadened the variety of conditions for which capsule endoscopy systems are used, such as colon, small bowel, and esophageal diseases. The diagnostic, monitoring, and viewing capabilities of the conventional endoscope have been improved by technological developments. Modern technology has led to the creation of new types of capsule endoscopes, including those for the oesophagus, colon, and small intestine. A 360-degree panoramic camera that is user-friendly and has great resolution is also being developed by product manufacturers. Because to developments, endoscopy now offers a high level of accuracy, safety, and precision that would have been challenging to achieve just a few years ago. The fiberoptic endoscope (fiberscope) has lately been supplanted by the video scope and the capsule endoscope. The PillCam Small Bowel 3 system for remote endoscopic operations will also be available in November 2021. The PillCam SB3 @HOME programme, which makes use of Amazon logistics and Medtronic's PillCam technology, promises to provide patients with access to quick, accurate results from the comfort of their own homes. The small bowel can be seen and monitored directly with the help of PillCam SB3 @HOME, a telemedicine alternative. It can help uncover lesions that upper and lower endoscopy miss, and it may also disclose the causes of iron deficiency anaemia, indicate Crohn's disease, or find hidden bleeding (IDA).

Restraint

Several of its restrictions, such as capsule retention and usage limited to diagnostic purposes, prevent the commercial spread of capsule endoscopy. To lessen the likelihood of capsule retention, endoscopic retrieval or surgical excision may be required. For instance, a research published in Annals of Translational Medicine discovered that capsule retention occurred in roughly 2% of patients following small intestinal endoscopic surgery. Because of this, using capsule endoscopes is challenging. Also, due to the quick transit of the capsule and the fuzzy, unintelligible images, issues in some regions of the intestine are overlooked. Food or faeces residue could distort images. Retention of the small bowel device during capsule endoscopy is the greatest risk. Between one and two percent of patients who get the test to look for bleeding run a very low risk of bleeding. There may be a four to five percent risk increase for patients with Crohn's disease. However, it is anticipated that as technology advances and wireless capsules get better, the retention rate will fall, which would encourage the growth of the capsule endoscopy market.

Market Trends

Medical conditions include gastrointestinal disorders, inflammatory bowel diseases, and colon cancer have rapidly increased in prevalence over the past several years as a result of a range of environmental variables as well as changes in people's general lives. The prevalence of colorectal cancer is increasing on a global scale. Colorectal cancer is the third most common cancer to be diagnosed and the second most common condition that results in mortality. Screening and more knowledge can drastically lower the fatality rate associated with colorectal cancer. Also, as people age, GI issues including appendicitis, inflammatory bowel disease, and CRC become more likely to occur; for this reason, screening is essential to stop complications and the future development of GI illnesses. The National Colorectal Round Table estimates that screening beginning at age 50 can stop 230,000 deaths from colorectal cancer. It is anticipated that as these medical conditions become more prevalent, there will be a large increase in the demand for capsule endoscopy. A colonoscopy is the common method for finding colorectal cancer. Yet, the drawbacks of colonoscopy and the growing demand for minimally invasive procedures have led to a rise in the usage of capsule endoscopy. Capsule endoscopy, a non-invasive wireless diagnostic method, provides medical professionals with a comprehensive view of the small intestine. Technology has fundamentally altered how conditions of the small intestine, such as cancer, inflammatory bowel disease, celiac disease, and unexplained gastrointestinal bleeding, are identified and treated.