Global Capsule Endoscopy Market to Reach US$ 687 Million by 2027, Impelled by Increasing Prevalence of Gastrointestinal Disorders

December 08, 2022

The latest report by IMARC Group, titled “Capsule Endoscopy Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global capsule endoscopy market size reached US$ 413 Million in 2021. Capsule endoscopy is used to obtain images of the stomach, esophagus, and small intestines. It uses a small capsule-encased camera, which is swallowed and passed through the gastrointestinal (GI) tract without the requirement of anesthesia. It enables the physician to take images of internal organs that are not accessible through conventional imaging solutions. As a result, capsule endoscopy is widely adopted for the diagnosis and treatment of chronic abdominal pain, gastrointestinal cancer, Crohn’s disease, celiac disease, excessive bleeding, and ulcers.

Global Capsule Endoscopy Market Trends:

The market is primarily driven by the growing prevalence of gastrointestinal disorders and colorectal cancer across the globe. In addition, the rising awareness among the masses regarding the availability of painless and minimally invasive (MI) visualization procedures represents another major growth-inducing factor. Besides this, with various technological advancements, such as the development of capsules with longer battery life and Wi-fi compatibility, product manufacturers are developing user-friendly and high-resolution cameras with a 360-degree panoramic view. This, coupled with the rising geriatric population that is more susceptible to various ailments, such as inflammatory bowel disease, Obscure Gastrointestinal Bleeding (OGIB), and appendicitis, is positively influencing the market growth. Looking forward, IMARC Group expects the market value to reach US$ 687 Million by 2027, exhibiting a CAGR of 8.51% during the forecast period (2022-2027).

Market Summary:

  • Based on the product, the market has been categorized into small bowel, esophageal, and colon.
  • On the basis of the accessory, the market has been bifurcated into wireless capsule, and workstation and recorder.
  • Based on the application, the market has been classified into OGIB, Crohn’s, and small intestine tumors.
  • Region-wise, the market has been divided into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has been examined in the report, with some of the key players being Boston Scientific Corporation, CapsoVision Inc., Check Cap Ltd, Fujifilm Holdings Corporation, IntroMedic Co. Ltd, Jinshan Science & Technology (Group) Co. Ltd., Medtronic plc, Olympus Corporation, RF Co. Ltd. and Shangxian Minimal Invasive Inc.
     

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Capsule Endoscopy Market to Reach US$ 687 Million by 2027, Impelled by Increasing Prevalence of Gastrointestinal Disorders
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