Capsule Endoscopy Market Key Players Analysis 2031
The global capsule endoscopy market is expected to grow from US$ 465.72 million in 2022 to US$ 757.51 million by 2031; it is estimated to grow at a CAGR of 8.4% from 2022 to 2031.
According to The Korean Society of Neurogastroenterology and Motility report, functional gastrointestinal disorders (FGIDs) are a group of gastrointestinal disorders (GI) involving various combinations of chronic or recurrent gastrointestinal (GI) symptoms or biochemical abnormalities. The rising prevalence of gastrointestinal disorders is driving the overall capsule endoscopy market growth. Capsule endoscopy (CE) is also utilized for detecting small-bowel disease obscure gastrointestinal bleeding, celiac disease, Crohn's disease, small-bowel tumors, and other diseases. Functional dyspepsia (FD) and irritable bowel syndrome (IBS) are the most widely recognized FGIDs. Additionally, the demand for capsule endoscopy is high in cases related to the GI tract as capsule endoscopy involves the diagnosis of obscure GI bleeding and chronic iron-deficiency anemia, small bowel tumors, and assessment of treatment outcomes of celiac and Crohn's disease. Also, capsule endoscopy is highly equipped for screening celiac disease (CD). Celiac disease is a serious genetic autoimmune disease that damages the small intestine's villi and interferes with the absorption of nutrients from food. The Beyond Celiac 2022 report states that approximately 1 in 133 Americans, or ~1% of the population, have celiac disease. Additionally, in Finland, the prevalence of the celiac disease is ~1.99% among the total population. Further, capsule endoscopy is highly considered when clinical symptoms are highly suspicious and related to celiac disease. For example, CE modifying the clinical course, particularly in cases with positive serology at the baseline and the capsule endoscopy procedure, is considered safe and useful and plays a critical role in misleading diagnosis for CD. Therefore, the influx of capsule endoscopy for gastrointestinal disorders is expected to fuel the overall market growth during the forecast period.
Technological advancements in capsule endoscopy are supporting the overall market growth. The influx of video capsule endoscopy (VCE) is attributed to the continued technological advancements in imaging. Further, AI-encompassed VCE involves the diagnosis of tumors, gastrointestinal bleeding, Crohn's disease, and celiac disease. Also, advancements in the imaging of VCE involve hardware and software improvements with advancements in components of capsules involving the camera, power source, and transmission unit. Software improvement such as the advent of AI in VCE is expected to expand the reach of VCE in the field of optical biopsy, becoming a clinical reality. Therefore, the advent of technology enhances the overall capsule endoscopy market growth during the forecast period.
Strategic Insights
Regional Overview
North America accounts for the largest share of the capsule endoscopy market, with the US being the major contributor to the market growth. New product approval by the Food & Drug Administration (FDA) is a standalone factor responsible for the significant growth of the overall capsule endoscopy market. For instance, in November 2021, Medtronic announced receiving clearance for “PillCam Small Bowel 3 system” by the FDA intended for a remote endoscopy procedure. The newly launched product offers a telehealth option for direct visualization and monitoring of the small bowel that help detect lesions in the lower endoscope (indicates Crohn's disease, detect obscure bleeding, and other GI disorders). Thus, the aforementioned factors are likely to propel the market growth in North America in the coming years.
Product Insights
Based on product, the capsule endoscopy market is bifurcated into endoscopy capsule and components. The endoscopy capsule segment held a larger share of the market in 2022. The growth of the segment is attributed to the advantages associated with the endoscopy capsule for the diagnosis and detection of complex health conditions involving GI disorders, cancer, Crohn's disease, and other small bowel disorders. Capsule endoscopy can detect Crohn's disease through mucosal inflammation, disease extension, and strictures. Also, capsule endoscopy can detect disease in the terminal ileum with 100% image quality compared to other technologies such as computed tomography (CT) or magnetic resonance heterography. Therefore, capsule endoscopy is highly recommended in patients with known, suspected, or relapsed Crohn's disease. Such lucrative benefits offered by endoscopy capsule intended for complex health conditions such as Crohn’s disease are supporting the segment growth.
Companies operating in the capsule endoscopy market adopt product innovation strategies to meet the evolving demands across the world, allowing them to maintain their brand name in the market.
Capsule Endoscopy Market – Segmentation
Based on product, the capsule endoscopy market is bifurcated into endoscopy capsule and components. The endoscopy capsule segment held a larger share of the market in 2022. Based on formulation, the capsule endoscopy market is bifurcated into tablets and capsules. The capsule segment held a larger share of the market in 2022. Based on application, the capsule endoscopy market is segmented into obscure gastrointestinal bleeding (OGIB), Crohn's disease, small bowel diseases, and other diseases. Based on end user, the market is segmented into hospitals, clinics, research centers, and other end users. The hospitals held the largest share of the market in 2022. Based on geography, the market is primarily segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.
Company Profiles
- RF Co.,Ltd.
- JINSHAN Science & Technology
- SHANGXIAN MINIMAL INVASIVE INC
- CapsoVision
- Check-Cap.
- INTROMEDIC
- Medtronic
- Olympus Corporation
- Anhan Technology (Wuhan) Co., Ltd.
Capsule Endoscopy Market Report Analysis
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CAGR (2023 - 2031)8.40% -
Market Size 2023
US$ 504.84 Million -
Market Size 2031
US$ 962.47 Million
Report Coverage
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Industry landscape and competition analysis & recent developments
- Detailed company profiles
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
Key Players
- RF Co Ltd
- JINSHAN Science Technology
- Shangxian Minimal Invasive Inc
- CapsoVision Inc
- Check Cap
- IntroMedic Co Ltd
- Medtronic
- Olympus Corporation
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
- Endoscopy Capsule and Components
- Tablets and Capsules
- Obscure Gastrointestinal Bleeding
- Crohn
- Hospitals
- Clinics
- Research Centers
- Other End Users
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Capsule Endoscopy Market Report Scope
Report Attribute | Details |
---|---|
Market size in 2023 | US$ 504.84 Million |
Market Size by 2031 | US$ 962.47 Million |
Global CAGR (2023 - 2031) | 8.40% |
Historical Data | 2021-2022 |
Forecast period | 2024-2031 |
Segments Covered |
By Product
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, Formulation, Application, and End Users
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Despite accuracy, speed, safety, high resolutions, non-invasiveness factors such as lack of guided navigation and less battery life are among the major limitations associated with these systems.
The demand for noninvasive screening method for inspection of gastrointestinal tract is expected to grow at a significant pace during the forecast period. Some of the prime factors propelling the growth of the market include increasing prevalence of small bowel diseases and technological advancements in endoscopy are propelling the growth of the market.
Capsule endoscopes are tiny wireless endoscopy systems which are used to capture images of the internal tracts in the body. The endoscope camera fits in the vitamin size capsule and enables to take thousands of images which are then transmitted to the recorder. Capsule endoscopes allows the physicians to take the images of the parts where the traditional endoscope is unable to reach.
The List of Companies - Capsule Endoscopy Market
- RF Co.,Ltd
- JINSHAN Science & Technology
- Shangxian Minimal Invasive Inc.
- CapsoVision, Inc.
- Check-Cap
- IntroMedic Co.,Ltd.
- Medtronic
- Olympus Corporation