Global Capsule Endoscopy Market: Analysis By Disease Type (Small Bowel, Esophageal and Colon), By Product (Systems and Capsule Endoscopes), By End User (Hospitals, Ambulatory Surgery Centers and Other End-Users), By Region Size & Forecast with Impact Anal

Global Capsule Endoscopy Market: Analysis By Disease Type (Small Bowel, Esophageal and Colon), By Product (Systems and Capsule Endoscopes), By End User (Hospitals, Ambulatory Surgery Centers and Other End-Users), By Region Size & Forecast with Impact Analysis of COVID-19 and Forecast up to 2027

Capsule endoscopy is a non-invasive medical procedure in which the patient consumes a pill-sized endoscope to capture images of the digestive tract. This is accomplished through the use of a wireless, disposable device known as a video capsule, which is equipped with a camera, battery, transmitter, and light source. The video capsules inserted capture images in the stomach, esophagus, and small intestine, which is used to diagnose gastrointestinal disorders. In 2021, the global capsule endoscopy market was valued at US$474.12 million, and is probable to reach US$779.52 million by 2027.

Introduction of technologically advanced wireless capsules with enhanced features such as longer battery life, increased data storage capacity, Wi-Fi-enabled devices, ergonomic designs are also expected to drive market growth over the next coming years. The capsule endoscopy market is projected to grow at a CAGR of 8.64%, during the forecast period of 2022-2027.

Market Segmentation Analysis:

By Product: According to the report, the global capsule endoscopy market is segmented into two product: Systems and Capsule Endoscopes. Systems segment acquired majority of share in the market in 2021, due to the range of applications for capsule endoscopy systems, including those for colon disease, small bowel disease, and esophageal illness, has increased because of technological developments. The same segment is expected to have the highest CAGR in the future due to technological advancements.

By Disease Type: According to the report, the global capsule endoscopy market is segmented into three disease type: Small Bowel, Esophageal and Colon. Small Bowel segment acquired majority of share in the market in 2021, due to their rising utilization in the diagnosis and screening of medical conditions such as inflammatory bowel disease, Crohn’s disease, obscure GI tract bleeding (OGIB), and small bowel neoplastic lesions. Esophageal segment is expected to have the highest CAGR in the future due to growing preference for less intrusive screening methods.

By End User: The report splits the global capsule endoscopy market into three end users: Hospitals, Ambulatory Surgery Centers and Other End-Users. In 2021, Hospitals segment held the maximum share in the market, because of substantially large adoption, utilization of capsule endoscopy services, and such endoscopes in the hospitals compared to the other healthcare systems. Also, Other End-Users is predicted to have the highest CAGR in the future which encompasses clinical, educational and others sectors.

By Region: According to this report, the global capsule endoscopy market can be divided into four major regions: North America (The US, Canada and Mexico), Asia Pacific (China, Japan, India, South Korea and Rest of Asia Pacific), Europe (Germany, UK, France, Italy, Spain and Rest of Europe), and Rest of the World. The North America capsule endoscopy market enjoyed the highest market share in 2021, primarily owing to rising preference for minimally invasive screening procedures, along with the adoption of technologically enhanced products and systems.

While the US continues to be a prominent region of North America capsule endoscopy market, accounting to the growing preference for minimally invasive surgeries and technological advancements.

Global Capsule Endoscopy Market Dynamics:

Growth Drivers: Increasing geriatric population supported the development of the capsule endoscopy market. There are many medical conditions associated with the aging population and they are more prone to diseases like diabetes, cancer and other chronic illnesses, which leads to increased demand for medical solutions. This is considered a positive indicator for the capsule endoscopy market. Further, the market is expected to increase due to rising expenditure capacities of the consumers, upsurge in healthcare expenditure, increasing prevalence of gastrointestinal disorders, colorectal cancer and small intestinal disorders, rising adoption of minimally invasive surgical interventions, awareness regarding the availability of painless and MI visualization procedures, etc.

Challenges: Inadequate number of institutions providing medical education and the consequent shortage of well-trained doctors are the biggest challenges for the delivery of healthcare. But the need for other specialists—endocrinologists who manage diabetes, endoscopists, for example—likely would go down if fewer people required specialized care for chronic diseases. The other challenge that capsule endoscopy market face is limitations related to the application of capsule endoscopy, etc.

Trends: A major trend gaining pace in capsule endoscopy market is integration of artificial intelligence (AI) in capsule endoscopy. Artificial intelligence (AI) is expected to act as one of the main drivers for the success of capsule endoscopy. The development of Wi-Fi-enabled capsules with longer battery life and better camera quality to increase diagnostic capabilities of capsule endoscopy is also projected to accelerate the industry growth. More trends in the market are believed to augment the growth of capsule endoscopy market during the forecasted period include extensive improvements in the healthcare infrastructure, technological advancements, better-designed wireless capsules, etc.

Impact Analysis of COVID-19 and Way Forward:

The COVID-19 pandemic has had a negative impact on the market, resulting in the rescheduling, postponement, or cancellation of elective surgeries. In addition, supply chain disruptions and changes in the regulatory scenario to combat infection caused by the COVID-19 virus have hampered market growth during the COVID-19 pandemic. Furthermore, due to the pandemic, medical professionals' training in capsule endoscopy was limited. According to a 2021 article published in BMJ Journals, due to pandemic situations, some institutions have implemented e-learning modules for capsule endoscopy training and plan to return to traditional training patterns after the pandemic.

Competitive Landscape and Recent Developments:

The capsule endoscopy market is concentrated with the presence of a few number of players majorly dominating worldwide.

Key players of the capsule endoscopy market are:

Olympus Corporation
FUJIFILM Holdings Corporation
Medtronic plc
Chongqing Jinshan Science & Technology (Group) Co., Ltd.
CapsoVision
Check-Cap Ltd.
AnX Robotica Corp
Shangxian Minimal Invasive Inc.
IntroMedic Co.,Ltd.
RF Co. Ltd.

The key players are constantly investing in strategic initiatives, such as new product launches, introducing their products to emerging markets and more, to maintain a competitive edge in this market. For instance, in May 2021, Olympus Corporation Japan has agreed to acquire Medi-Tate Ltd. (Israel) Olympus was allowed to provide the in-office treatment for benign prostatic hyperplasia as part of the acquisition BPH. Also, in August 2020, Olympus Corporation (Japan) has decided to acquire Arc Medical Design Ltd. (UK) Olympus was able to increase the growth of gastrointestinal therapeutic devices, develop advanced colonoscopy tools, and enhance the early detection and treatment of colorectal cancer in the future of the acquisition.

Global Capsule Endoscopy Market: Analysis By Disease Type (Small Bowel, Esophageal and Colon), By Product (Systems and Capsule Endoscopes), By End User (Hospitals, Ambulatory Surgery Centers and Other End-Users), By Region Size & Forecast with Impact Analysis of COVID-19 and Forecast up to 2027 - Report Summary

Report Metrics	Details
Years Considered	2017-2027
Base Year	2021
Forecast Period	2022-2027
Page Count	150
Units Referenced	US $
Segments/Key Topics	Segments/Key Topics By Product, By Disease Type, By End user
Regions Covered	Regions Covered North America (The US, Canada and Mexico), Asia Pacific (China, India, Japan, South Korea and Rest of Asia Pacific), Europe (UK, Germany, France, Italy, Spain and the Rest of Europe), and Rest of the World
Key Companies Mentioned	Olympus Corporation, FUJIFILM Holdings Corporation, Medtronic plc, Chongqing Jinshan Science & Technology (Group) Co., Ltd., CapsoVision, Check-Cap Ltd., AnX Robotica Corp, Shangxian Minimal Invasive Inc., IntroMedic Co.,Ltd., RF Co. Ltd.

Five FAQs about the Report

What is the size of this market?
The capsule endoscopy market in 2021 was valued at US$ 474.12 million.

What is the forecasted growth for this market?
The market is expected to reach US$779.52 million by 2027. The market is projected to grow at a CAGR of 8.64% during the forecast period of 2022-2027.

What are key factors driving this market?
Introduction of technologically advanced wireless capsules with enhanced features such as longer battery life, increased data storage capacity, Wi-Fi-enabled devices, ergonomic designs are expected to drive market growth over the next coming years.

How is this market segmented in this report?
The global capsule endoscopy market can be segmented based on Product (Systems and Capsule Endoscopes); Disease Type (Small Bowel, Esophageal and Colon); and End User (Hospitals, Ambulatory Surgery Centers and Other End-Users).

What is the definition of this market in this report?
Capsule endoscopy is a non-invasive medical procedure in which the patient consumes a pill-sized endoscope to capture images of the digestive tract. This is accomplished through the use of a wireless, disposable device known as a video capsule, which is equipped with a camera, battery, transmitter, and light source. The video capsules inserted capture images in the stomach, esophagus, and small intestine, which is used to diagnose gastrointestinal disorders.

What are the major influences driving the growth/decline of this market?
The global capsule endoscopy market is expected to increase due to increasing geriatric population, rising expenditure capacities of the consumers, upsurge in healthcare expenditure, awareness regarding the availability of painless and mi visualization procedures, etc. Yet the market faces some challenges such as limitations related to the application of capsule endoscopy, shortage of trained doctors, etc.