Capsule Endoscopy Market Size was valued at USD 0.8 Billion in 2022. The Capsule Endoscopy Market industry is projected to grow from USD 0.86 Billion in 2023 to USD 1.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.40% during the forecast period (2023 - 2032). The increasing prevalence of gastrointestinal illnesses and the growing demand for minimally invasive diagnostic treatments are the key market drivers enhancing the market growth.
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
December 2022 - AnX Robotica Corporation, the developer of NaviCam® Magnetically Controlled Capsule Endoscopy System (MCCE), has announced a cooperation with GastroGPO, which is a Specialty Networks Company.
In August 2022, Medtronic launched GI Genius, a colorectal cancer endoscopy module in India. This system improves visualization during colonoscopy while providing real-time data utilizing artificial intelligence (AI), enabling doctors to detect and cure patients from colorectal cancer.
March 2022 - Scottish health researchers are leading a new USD 6.4 million project on AI-assisted capsule endoscopy in future bowel cancer diagnosis. It is the second-most common cause of death related to this disease, as every year, approximately 1,600 people die from bowel cancer in Scotland alone.
The increased prevalence of gastrointestinal illnesses is driving the market CAGR for capsule endoscopy. Inflammatory bowel disease (IBD), Crohn's disease, and celiac disease are becoming increasingly widespread over the world. IBD affects 0.5% to 1% of the population in affluent countries, according to the World Gastroenterology Organization. Capsule endoscopy is a non-invasive diagnostic method that allows healthcare providers to more efficiently detect and monitor gastrointestinal illnesses. Traditional endoscopy, which involves inserting a long, flexible tube with a camera into the digestive tract, is less intrusive and more comfortable for patients.
As the prevalence of gastrointestinal disorders continues to rise, so will the demand for capsule endoscopy. Capsule endoscopy is a non-invasive, safe diagnostic method that can assist healthcare providers in more correctly and effectively diagnosing and monitoring gastrointestinal illnesses. As a result, the capsule endoscopy market is likely to expand in the approaching years.
Because of advances in capsule endoscopy technology, the capsule endoscopy market is expanding rapidly. Capsule endoscopy is a non-invasive diagnostic method that captures images of the digestive tract with a small, wireless camera. The treatment is used to diagnose Crohn's disease, celiac disease, and gastrointestinal hemorrhage. Advances in capsule endoscopy technology, such as the creation of high-resolution cameras and wireless communication systems, have increased the procedure's precision and efficiency. Furthermore, the development of artificial intelligence and machine learning algorithms has allowed for the analysis of enormous volumes of data generated by capsule endoscopy treatments, enhancing diagnostic accuracy even further. The rising frequency of gastrointestinal illnesses, as well as the growing need for non-invasive diagnostic techniques, is propelling the capsule endoscopy market forward. With further technological improvements, the market is likely to rise as more patients and healthcare providers use capsule endoscopy as a diagnostic tool.
Moreover, the increased demand for point-of-care diagnostics is another driver of the capsule endoscopy industry. Point-of-care testing is a diagnostic testing method that allows healthcare providers to do diagnostic tests at the patient's bedside, clinic, or home. Because of its convenience and speed, this method is becoming increasingly popular. Capsule endoscopy is a sort of point-of-care diagnostics that allows healthcare providers to swiftly and efficiently diagnose and monitor gastrointestinal illnesses. The operation can be done in a clinic or at home, making it a handy choice for individuals who live far away from healthcare facilities or have mobility concerns. The increasing usage of capsule endoscopy in remote and rural locations is an example of expanding demand for point-of-care testing. Patients in many isolated and rural locations have limited access to healthcare services and diagnostic testing. Capsule endoscopy can be conducted in the patient's home, making it a handy choice for patients who live far from healthcare facilities.
Capsule endoscopy is becoming a more popular diagnostic method in India, where many people reside in rural areas. Capsule endoscopy is being used by healthcare practitioners to diagnose and monitor gastrointestinal illnesses in people who reside far from medical facilities. The process is less intrusive and more comfortable for patients than traditional endoscopy, making it a popular choice in isolated and rural settings.
The Capsule Endoscopy Market segmentation, based on Product includes Capsule Endoscopes (Small Bowel, Esophageal, Colon), Systems. In 2022, the capsule endoscopes segment dominated the capsule endoscopy market and accounted for the most revenue share. Furthermore, during the projected period, this segment is expected to increase at the quickest rate. This large share and rate of increase can be attributed to the benefits they bring in the diagnosis or detection of complex health issues such as gastrointestinal illnesses, cancer, Crohn's disease, and other small bowel disorders.
The Capsule Endoscopy Market segmentation, based on Application, includes OGIB (Obscure GI Tract Bleeding), Crohn’s Disease, Small Intestine Tumor and Others. The OGIB (Obscure GI Tract Bleeding) market category is predicted to contribute the most revenue to the market. The segment is growing as a result of the several advantages of this endoscopy in diagnosing and detecting OGIB. Furthermore, benefits such as real-time vision, image capture, examination of the entire small intestine, and accurate and exact results contribute to the use of this endoscope for OGIB. Furthermore, the trend toward employing capsule-based endoscopic screening for OGIB rather to older procedures like double-balloon enteroscopy is assisting the segment's growth.
The Capsule Endoscopy Market segmentation, based on end-user, includes Hospitals, Ambulatory Surgery Centers and Others. The hospitals sector led the capsule endoscopy market and accounted for the largest revenue share. It is related to hospitals' significantly higher acceptance and utilization of capsule endoscopy services and similar endoscopes when compared to other healthcare systems. Furthermore, the government's favourable reimbursement rules are promoting market growth. Furthermore, because hospitals are typically the primary health care system in the majority of countries, the number of screenings performed in hospitals is higher, indicating greater uptake and demand.
Figure1 Capsule Endoscopy Market, by Product, 2022&2032 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Capsule Endoscopy Market area will dominate this market, due to the rise in the frequency of GI illnesses and colorectal cancer. Furthermore, the region's improved healthcare infrastructure will drive the expansion of the capsule endoscopy treatment market during the projection period.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2 CAPSULE ENDOSCOPY MARKET SHARE BY REGION 2022 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Capsule Endoscopy Market accounts for the second-largest market share due to the increasing prevalence of gastrointestinal illnesses and the growing desire for minimally invasive diagnostic treatments. Further, the German Capsule Endoscopy Market held the largest market share, and the UK Capsule Endoscopy Market was the fastest growing market in the European region
The Asia-Pacific Capsule Endoscopy Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the rise in the patient awareness levels. Furthermore, the region's capsule endoscopy treatment market is expected to develop in the next years as healthcare infrastructure and disposable income improve. Moreover, China’s Capsule Endoscopy Market held the largest market share, and the Indian Capsule Endoscopy Market was the fastest growing market in the Asia-Pacific region.
Capsule Endoscopy Key Market Players& Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Capsule Endoscopy Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Capsule Endoscopyindustry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Capsule Endoscopy industry to benefit clients and increase the market sector. In recent years, the Capsule Endoscopy industry has offered some of the most significant advantages to medicine. Major players in the Capsule Endoscopy Market, including Northside Gastroenterology Endoscopy Center, LLC, Chongqing Jinshan Science & Technology Co., and Interscope Inc,and others, are attempting to increase market demand by investing in research and development operations.
Medtronic plc is a medical device firm based in the United States. Because of its 2015 acquisition of Irish-based Covidien, the company's operational and executive offices are in Minneapolis, Minnesota, and its legal headquarters are in Ireland. While it is headquartered in the United States, it has operations in over 150 countries and employs over 90,000 people. It creates and produces healthcare technologies and therapies. In 2020, Medtronic introduced the PillCamTM capsule endoscopy platform, which includes improved imaging capabilities as well as a streamlined workflow to increase diagnostic accuracy and efficiency.
Olympus Corporation is a Japanese optical and reprography product maker. On October 12, 1919, Olympus was founded, initially specializing in microscopes and thermometers. Olympus controls nearly 70% of the endoscope market, which is estimated to be worth $2.5 billion. Its headquarters are in Tokyo, Japan, near Shinjuku. In 2021, The EVIS X1 platform, which comprises a capsule endoscopy device for the diagnosis and monitoring of gastrointestinal illnesses, was announced by Olympus Corporation.
Key Companies in the Capsule Endoscopy market include
Capsule Endoscopy Industry Developments
May 2021, Fujifilm Holdings Corporation announced the release of the ELUXEOTM Endoscopy System, which features a capsule endoscopy system for gastrointestinal disease diagnosis and monitoring.
March 2020, Jabil Inc. subsidiary RF System Lab has introduced the VJ-3 Capsule EndoscopeTM, which has increased imaging capabilities and a compact design for improved diagnostic accuracy and efficiency.
September2021, Given Imaging Ltd., a Medtronic company, has introduced the PillCamTM SB 4, a next-generation capsule endoscopy device for the diagnosis and monitoring of gastrointestinal illnesses. To improve diagnosis accuracy and efficiency, the system includes sophisticated imaging capabilities and a streamlined workflow.
| Report Attribute/Metric | Details |
| Market Size2022 | USD 0.8Billion |
| Market Size 2023 | USD 0.86Billion |
| Market Size2032 | USD 1.6 Billion |
| Compound Annual Growth Rate (CAGR) | 8.40% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Application, End-User and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | RF System lab, AccuRead Endoscopy Inc., Boston Scientific Corporation, Northside Gastroenterology Endoscopy Center, LLC, Chongqing Jinshan Science & Technology Co., and Interscope Inc, |
| Key Market Opportunities | Chronic disease prevalence is rising. |
| Key Market Dynamics | Various techniques employed by major players |
Capsule Endoscopy Market Highlights:
Frequently Asked Questions (FAQ) :
The Capsule Endoscopy Market size was valued at USD 0.8Billion in 2022.
The market is projected to grow at a CAGR of 8.40% during the forecast period, 2023-2032.
North America had the largest share in the market.
The key players in the market are Northside Gastroenterology Endoscopy Center, LLC, Chongqing Jinshan Science & Technology Co., and Interscope Inc,
The capsule category dominated the market in 2022.
The hospitals had the largest share in the market.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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