Capsule Endoscopy Market by Product (Capsule Endoscopes, Systems), Application (Crohn’s Disease, Obscure Gastrointestinal Bleeding, Small Intestine Tumor), End-Use - Global Forecast 2024-2030

Capsule Endoscopy Market by Product (Capsule Endoscopes, Systems), Application (Crohn’s Disease, Obscure Gastrointestinal Bleeding, Small Intestine Tumor), End-Use - Global Forecast 2024-2030

The Capsule Endoscopy Market size was estimated at USD 554.66 million in 2023 and expected to reach USD 606.57 million in 2024, at a CAGR 9.80% to reach USD 1,067.37 million by 2030.

Capsule endoscopy is a modern diagnostic tool that allows for the visualization and examination of the gastrointestinal tract using a pill-sized capsule equipped with a camera. This market comprises manufacturers, healthcare providers, and patients utilizing the device for gastrointestinal diagnosis. The increasing prevalence of gastrointestinal disorders globally and the significant adoption of minimally invasive surgical interventions contribute positively to market growth. Concerns associated with capsule retention rate, adverse effects, and incomplete small bowl examination results are significant hindrances in markets. Opportunities within this market involve growing initiatives to improve healthcare infrastructure and increase awareness of gastrointestinal disorders. In addition, technological advancements coupled with better-designed wireless capsules are expected to create growth in the market.

Regional Insights

In the Americas, the United States is a key market for capsule endoscopy, driven by advanced healthcare infrastructure, a substantial focus on research and development, and a high prevalence of gastrointestinal diseases. The adoption of capsule endoscopy is supported by favorable reimbursement policies, less readily seen in other regions. Canada and South American countries also contribute to the market, though to a lesser extent due to variances in healthcare expenditure and technological adoption rates. The Asia-Pacific is witnessing rapid growth in the capsule endoscopy market, largely fueled by an increasing aging population, growing healthcare infrastructure, and rising incidences of gastrointestinal disorders. Countries such as Japan, South Korea, and China are at the forefront, with Japan featuring some of the earliest adopters of capsule endoscopy technology due to its innovation-friendly healthcare system. The Europe, Middle East, and Africa (EMEA) region presents a diverse market for capsule endoscopy. Western European countries have a mature healthcare sector with high adoption of novel diagnostic technologies, including capsule endoscopy, aided by strong healthcare systems and wide insurance coverage. In Middle Eastern countries, there is a growing demand for healthcare services and medical devices, including capsule endoscopy, driven by increasing healthcare investments and modernization of healthcare facilities.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Capsule Endoscopy Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Increasing prevalence of gastrointestinal disorders globally
• Significant adoption of minimally invasive surgical interventions

Market Restraints

• Concerns associated with the capsule retention rate

Market Opportunities

• Technological advancements coupled with better-designed wireless capsules
• Growing initiatives to improve healthcare infrastructure and increase awareness of gastrointestinal disorders

Market Challenges

• Adverse effects and incomplete small bowl examination

Market Segmentation Analysis

• Product: Growing adoption of capsule endoscopes due to their minimally invasive nature
• Application: Expanding usage of capsule endoscopes for managing obscure gastrointestinal bleeding (OGIB)
• End-Use: Increasing usage of capsule endoscopes by hospitals for more complicated cases that require a multi-disciplinary approach

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Capsule Endoscopy Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Capsule Endoscopy Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

NexOptic Technology Corp. Signs MOU with IntroMedic, A Global Capsule Endoscopic Imaging Corporation

IntroMedi announced a strategic collaboration with NexOptic Technology Corp for advancements in patient-centric diagnostic solutions. IntroMedic's innovative approach to capsule endoscopy utilizes a miniature camera within a consumable capsule, delivering thousands of high-quality images as it navigates through the digestive system. The collaboration promises enhancements to this imaging technology, focusing on elevating the clarity and diagnostic capabilities.

AnX Robotica Announces Expanded Indications of Magnetically Controlled Capsule Endoscopy

AnX Robotica Corporation announced the expansion of its applications to now include its NaviCam Stomach Capsule for patient use beginning at six years of age and for patients with a Body Mass Index (BMI) of up to 65 and a maximum waist circumference of 77 inches. This advancement opens the door for innovative, non-invasive diagnostic tools to be utilized in pediatric care and supports individuals with higher BMI, paving the way for a more inclusive approach to gastrointestinal imaging. These enhancements solidify the NaviCam MCCE System as a transformational solution in endoscopic diagnostics, offering a safe and patient-centric alternative that holds the potential to diminish the need for multiple traditional endoscopies.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Capsule Endoscopy Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Capsule Endoscopy Market, highlighting leading vendors and their innovative profiles. These include AdvinHealthcare, Ambu A/S, Anx Robotica Corp., Biocam Sp. z o.o., Boston Scientific Corporation, CapsoVision Inc., Check-Cap Ltd. by Symetryx Corp., Chongqing Jinshan Science & Technology (Group) Co., Ltd, Covestro AG, Duomed Group, Fujifilm Holding Corporation, Intromedic co., Ltd, Medtronic PLC, MU Ltd., Olympus Corporation, RF Systems Lab, Shangxian Minimal Invasive Inc., and STERIS Corporation.

Market Segmentation & Coverage

This research report categorizes the Capsule Endoscopy Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Product
• Capsule Endoscopes
• Systems
• Application
• Crohn’s Disease
• Obscure Gastrointestinal Bleeding
• Small Intestine Tumor
• End-Use
• Ambulatory Surgery Centers
• Hospitals

Region

• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year