Capsule endoscopy can be
described as the procedure that uses a tiny wireless camera for taking pictures
of the digestive tract. It is a capsule endoscopy camera, sitting inside a
vitamin-sized capsule which is swallowed. The capsule then travels via the
digestive tract, with the camera meanwhile taking thousands of pictures that
are transmitted to a recorder worn on a belt around the waist. Capsule endoscopy
enables the doctors to look inside the small intestine, an area which isn’t
easily reachable with conventional endoscopy procedures. Adding on to the
already long list of applications of capsule endoscopy, it has now been
approved to screen the colon to look for polyps. Accelerated advancements in
technology are turning capsule endoscopy of the colon into a more common
procedure.
Moreover, capsule
endoscopy is apt for cases where the doctor needs to find the cause of
gastrointestinal bleeding, diagnose cancer, diagnose inflammatory bowel
diseases, screen for polyps as well as monitor celiac. Backed by all these
factors, the global capsule endoscopy market will be reaching the value of USD
967.4 Million by 2023, surpassing the valuation of USD 583.0 Million it
accumulated in 2017. The market is exhibited to depict a vibrant growth rate of
8.82 % during the forecast period (2017-2023). The Market Research Future
(MRFR) report strives to offer an all-extensive look at the various segments
along with important market drivers that hold the power to alter the market
scenario to a large extent.
Capsule
Endoscopy Market Segmentation:
The market for capsule
endoscopy, depending on the component, is segmented into endoscope type,
product, application, and end-user.
The global capsule
endoscopy market, based on component, is segmented into capsule endoscope,
capsule endoscopy data recorders, capsule endoscopy workstations, and others.
Among these, capsule endoscope grabbed the largest market share of 51.9% in
2017 and was worth the value of USD 302.9 million. The segment is anticipated
to clock in a CAGR of 8.55% during the forecast period.
By endoscope type, the
market is segmented into cystoscopies, neuro-endoscopes, and others. The others
segment, among all, held the largest market share of 79.4% in the year 2017 and
is presumed to surge at a CAGR of 9.13% during the conjectured period. This
segment involves the use of regular capsule endoscopes like MicroCam, PillCam,
and Omon Capsule endoscopy.
By product, the market is
segmented into colon capsule, esophageal capsule, and small bowel
capsule. Among these, the small bowel capsule segment got the lion’s
share of the total market, with the market share of 70.6% in 2017, due to its
cumulative usage in various medical conditions like inflammatory bowel disease,
Crohn’s disease, small bowel neoplastic lesions, and obscure GI tract bleeding.
Also, the colon capsule segment is exhibited to register strong market growth
during the review period.
Application-wise, the
market caters to Crohn’s disease, intestine disease, obscure gastrointestinal
bleeding, and others. The segment of obscure gastrointestinal bleeding secured
the largest market share of 57.6% in 2017, as a result of its advantages, for
instance, real-time visualization of the small intestine and faster and easier
diagnosis, thereby shifting the focus of healthcare professionals and patients
from conventional methods like double balloon enteroscopy to capsule endoscopy.
End-users in the global
market are hospitals, clinics, as well as others. Here, the hospitals segment
held for the largest market share of 49.6% in 2017, based on the increasing
prevalence of GIT diseases, growing investments in the hospital industry,
coupled with increasing research and development by the government, especially
in the emerging regions.
Key Players
The top five players sharing the
spotlight in the global capsule endoscopy market include Chongqing Jinshan
Science and Technology (China), Medtronic Plc (U.S.), IntroMedic (South Korea),
Olympus Corporation (Japan), Capsovision (U.S.). Among these, Capsovision
accounts for approximately 75% of the market share for capsule endoscopy at the
global level. Other prominent companies in the market are AccuRead Endoscopy
Inc. (U.S.), RF Co., Ltd (Japan), Fujifilm Holding Corporation, Boston
Scientific Corporation (U.S.), Northside Gastroenterology Endoscopy Center, LLC
(U.S.), Interscope Inc. (U.S.), Given Imaging Ltd (Israel), and others.
Regional
Analysis
Regional
consideration of the capsule endoscopy market includes the Americas, Europe,
Asia Pacific, and the Middle East & Africa. The Americas is leading the
pack, with North America having captured approximately 84.24% market share in
the global capsule endoscopy market in 2017. North America is forecasted to
arrive at the value of USD 448.45million by 2023. Following its footsteps is
the region of Europe that secured the second position globally, with the second
largest market for capsule endoscopy. Behind these two regions is the Asia
Pacific which is the fastest growing market. Europe is expected to expand at a
tremendous CAGR of 10.12% during the given period, with the Asia Pacific
progressing at the rate of 12.08% from 2018 to 2023.
Table Of Content
1. Report Prologue
2. Market Introduction
2.1 Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
2.3 Market Structure
3. Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
TOC
Continued….!
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