Growing prevalence of chronic diseases is driving the Global Endoscopy Capsule Market growth in the forecast period, 2022-2026.
According to TechSci Research report, “Global Endoscopy Capsule Market By Product Type (Small Bowel, Esophageal, Colon) By Accessories (Wireless Capsule v/s Workstation and Receiver) By Endoscope Type (Capsule Cystoscopies v/s Capsule Neuro-Endoscopes) By Application (OGIB (Obscure Gastrointestinal Bleeding), Crohn’s Disease, Small Intestine Tumor, Others) By End User (Hospitals & Clinics, Ambulatory Care Center, Others) By Company, By Region, Competition Forecast & Opportunities, 2026”, the global endoscopy capsule market is anticipated for an impressive boost in the upcoming five year, 2022-2026. The market has shown a consistent growth with influential CAGR in past five years until 2019. The factors like increasing geriatric population and their tendency to be infected with gastrointestinal diseases like CRS, inflammatory bowel disease and appendicitis is supporting the growth of the global endoscopy capsule market. The pill form of the camera is completely safe and can be ingested orally. This pill form of the camera travels the GI tract while clicking picture with its movement. Peristaltic movement of the tract facilitates the motion of the endoscopic capsule throughout its passage. The images are then transferred to the monitor via wireless connection and doctors and examiners can then identify and analyze the issue. This process allows a completely risk free, non-invasive, and accurate method of identification and diagnosis of the diseases inside gastro-intestinal tract.
Due to the onset of COVID-19 and imposition of complete lockdown to mitigate the coronavirus, there has been shutdown of many manufacturing units and disruption in the supply chain resulting in interrupted production and lesser supply of the endoscopy capsule all around the globe. Also, the economy has been adversely affected in many countries resulting in the hinderance to the growth of the endoscopy capsule market. However, after relief from lockdown market is again going to pick up pace to grow significantly.
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The global endoscopy capsule market is segmented by product type, accessories, endoscope type, application, end user, regional distribution, and company. Based on application the market is further categorized into OGIB (obscure gastrointestinal bleeding), Crohn’s disease, small intestine tumor, and others. Diagnosis of obscure gastrointestinal bleeding was conducted by barium X-rays, which was not very effective. Endoscopy capsule has proved itself to be more effective in the diagnosis of the disorder. Also, Crohn’s disease and small bowl tumors are efficiently identified by using the endoscopy capsule method, making the demand grow more rapidly.
Moreover, the process allows a real-time visualization of the tract making diagnosis easier and faster, thereby supporting the market growth. Technical advancement in the device development is anticipated to enhance the chances of its preference for the processes and thereby boost the global endoscopy capsule market growth.
Some of the major competitors in the market are Medtronic Plc., Olympus Corporation, Fujifilm Holding Corporation, IntroMedic Co., Ltd., CapsoVision, Inc., RF System lab (RF Co., Ltd), StatLink Systems, Chongqing Jinshan Science & Technology (Group) Co. Ltd, Shangxian Minimal Invasive Inc., Check-Cap Ltd., among others. The companies are focusing on extensive research and developments activities to stay competitive in the market. Other competitive strategies include formation of alliances and partnerships.
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“GI disorders and colorectal cancer cases are rapidly rising in the North American region. Although the region has the excellent health care services still the practice of sedentary lifestyle is influencing the number of patients. Favorable reimbursement plans, new investments and effective development of advanced technology might help new players in the market,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Endoscopy Capsule Market By Product Type (Small Bowel, Esophageal, Colon) By Accessories (Wireless Capsule v/s Workstation and Receiver) By Endoscope Type (Capsule Cystoscopies v/s Capsule Neuro-Endoscopes) By Application (OGIB (Obscure Gastrointestinal Bleeding), Crohn’s Disease, Small Intestine Tumor, Others) By End User (Hospitals & Clinics, Ambulatory Care Center, Others) By Region, Competition Forecast & Opportunities, 2026”, has evaluated the future growth potential of Global Endoscopy capsule and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Endoscopy capsule.
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