Global Capsule Endoscopy Market, By Accessory (Wireless Capsule, Workstation & Recorder), By Product (Small Bowel, Esophageal, Colon) By Application (OGIB, Crohn’s, Small Intestine Tumors), and opportunities and forecast 2020-2027

Capsule Endoscopy Market Overview

Capsule endoscopy is a procedure that involves swallowing a small capsule, which is the size of a large vitamin pill. Inside the capsule is a tiny wireless camera that takes pictures as it passes through the small intestine. Images are transmitted to a recording device worn on a belt around waist.
 
Worldwide, the increasing incidence of gastrointestinal diseases is a crucial factor that boosting the growth of the Capsule Endoscopy market. Moreover, the growing demand for non-invasive procedures for the detection of digestive disorders is another key aspect that propels the growth of the market. In addition to this, the ability of capsule endoscopy to detect a variety of digestive problems, including Crohn's disease, small intestine tumors, celiac disease, and obscure gastrointestinal bleeding, among other conditions. This factor further supports the market’s expansion to a large extent.
 
Furthermore, across the world, favorable government initiatives to extend a modern line of treatment and the introduction of technologically advanced diagnostic devices like endoscopes are resulting in the growth of the capsule endoscopy market. In addition, under public healthcare plans, public healthcare departments are providing financial assistance, expertise, and manpower for the establishment of endoscopic testing centers. As a result of such measures, the capsule endoscopy market is growing at a considerable rate in the forthcoming years.
 
Moreover, another significant reason driving the growth of the capsule endoscopy market is technological advancements that have led to the introduction of capsule endoscopes with longer battery life, magnetic and hybrid variants, and Wi-Fi-enabled versions. Additionally, the growing elderly population around the world, as well as the demand for more precise and faster diagnostic instruments, are escalating the growth of the Capsule Endoscopy market.

Covid-19 Impact on Capsule Endoscopy Market
 
In addition, the current Capsule Endoscopy Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the Capsule Endoscopy Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which includes supply shortages, panic buying, and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.

The increasing need for a cure has pushed vaccine research and manufacturers to the limit. In addition to this, panic conditions have already spurred the demand for many healthcare products and services which are discussed in detail in this report. Moreover, the impact of COVID-19 on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report.

Capsule Endoscopy Market Segment Overview



Based on Product, the Small Bowel segment held the largest share in the global Capsule Endoscopy market. This is due to its growing usage in multiple medical conditions such as small bowel neoplastic lesions, inflammatory bowel disease, suspected Crohn’s disease, and obscure GI tract bleeding.  By Accessory, the Wireless Capsule is the largest segment in the market. The increasing usage rate of wireless capsules in the small intestine, esophagus, and colon and the presence of favorable reimbursement policies are some major factors that intensify the growth of the wireless capsule endoscopy market.
 
Capsule Endoscopy Market, By Accessory
 
·       Wireless Capsule
·       Workstation & Recorder
 
Capsule Endoscopy Market, By Product
 
·       Small Bowel
·       Esophageal
·       Colon

Capsule Endoscopy Market, By Application
 
·       OGIB
·       Crohn’s
·       Small Intestine Tumors

Capsule Endoscopy Regional Overview

In terms of region, North America commanded a major share of the market and is predictable to maintain its supremacy over the forecast period. Important factors such as the increasing incidence of gastrointestinal disorders and colorectal cancer are the main factor behind the growth of the capsule endoscopy market in the region. Additionally, favorable reimbursement policies, and the presence of modern healthcare infrastructure, further boost the growth of the market in this region. Similarly, Asia Pacific is anticipated to emerge as a important region in the overall capsule endoscopy market. The increasing awareness for a new line of treatment, considerable rise in healthcare spending owing to economic growth, and improving healthcare infrastructure are some noteworthy factors contributing more to the market’s development in this region.

Capsule Endoscopy Market, By Geography

·       North America (US & Canada)
·       Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
·       Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
·       LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
 
Capsule Endoscopy Market, Key Players

·       Fujifilm Holding Corporation
·       RF System Lab
·       Capso Vision Inc.
·       Given Imaging Ltd.
·       Olympus Corporation
·       Chongqing Jinshan Science & Technology Co.
·       IntroMedic Co. Ltd.