According to IMARC Group latest report titled “Capsule Endoscopy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on capsule endoscopy market analysis. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global capsule endoscopy market size reached US$ 413 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 687 Million by 2027, exhibiting a growth rate (CAGR) of 8.51% during 2022-2027.
Capsule endoscopy is a non-invasive technique used to examine the gastrointestinal tract. It is a vitamin-sized capsule consisting of a small-sized camera. Once the patient swallows the capsule, several images are captured by the tiny camera, which is transmitted to a recorder on the waist belt provided to the patient. It allows physicians to detect infections and abnormalities in the gastrointestinal tract to give provide accurate and better treatment.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
The global market is primarily driven by the rising prevalence of chronic diseases, such as cancer and gastrointestinal diseases. In line with this, changing patients’ preferences toward advanced diagnostics is another growth-inducing factor. Furthermore, rapid advancements in capsule endoscopy technology and hybrid imaging techniques are creating a positive outlook for the market. Apart from this, numerous government initiatives undertaken towards to spread the awareness of capsule endoscopy are positively influencing the market growth. Moreover, rising healthcare expenditure levels are triggering the need for effective diagnostic procedures for cancer. Besides this, benefits provided by capsule endoscopies, such as painless visualization of gastrointestinal tract images, precise diagnosis, and faster results, have increased their adoption. Additionally, the introduction of technologically advanced wireless capsules with enhanced features, such as longer battery life, enhanced data storage capability, Wi-Fi-enabled devices, ergonomic designs, easy transmission, larger frame rate, 360-degree panoramic view, and improved image quality is the other factors strengthening the global demand also contributing to the market.
Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market 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.
- Shangxian Minimal Invasive Inc
Capsule Endoscopy Market Segmentation:
Our report has categorized the market based on region, product, accessory and application.
Breakup by Product:
- Small Bowel
Breakup by Accessory:
- Wireless Capsule
- Workstation and Recorder
Breakup by Application:
- Small Intestine Tumors
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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