About Endoscopy Capsules
Capsule endoscopy is a procedure which is used to visualize internal images of the digestive tract. It is widely used for colon cancer screening. There is a significant demand for endoscopy capsules over the last few years, owing to the rising number of colon cancer across the world. For instance, as per an article published by the American Cancer Society, in 2018, more than 97,220 new cases of colon cancer were reported. Hence, the rising number of colon cancer across the world and rising aging population is projected to drive the global endoscopy capsules market over the forecast period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia-Pacific |
Unit | Value (USD Million) |
CAGR | 11.8% |
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Analyst at AMA Research estimates that United States and Japan Players will contribute the maximum growth to Global Endoscopy Capsules market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Medtronic PLC (Irelands), Olympus Corporation (Japan), IntroMedic (South Korea), Chongqing Jinshan Science & Technology (China), CapsoVision Inc. (United States), Fujifilm Holding Corporation (Japan), Pentax Medical (Japan), RF Co.Ltd (Japan) and AccuRead Endoscopy Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Steris PLC (Ireland), Check-Cap Ltd (Israel) and Given Imaging.
Segmentation Overview
AMA Research has segmented the market of Global Endoscopy Capsules market by Type (Small Bowel Capsule, Esophageal Capsule and Colon Capsule), Application (Hospitals, Clinics and Medical Institutes) and Region.
On the basis of Type, Small Bowel Capsule are dominating the market in the year 2023On the basis of geography, the market of Endoscopy Capsules has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by Endoscope Type, the sub-segment i.e. Capsule Cystoscopies will boost the Endoscopy Capsules market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Battery Life time of Device, the sub-segment i.e. 6-8 Hours Life will boost the Endoscopy Capsules market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Resolution, the sub-segment i.e. 320 X 320 will boost the Endoscopy Capsules market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Prevalence of Small Intestinal Disorders Worldwide
Market Growth Drivers:
Growing Demand for Endoscopy and Rising Number of Hospitals across the world and Rising Ageing population which has led to Rising in Gastrointestinal Diseases
Challenges:
Highly Cost of Endoscopy Procedures & Equipment and Lack of Skilled Physicians
Restraints:
Issue related to Risks & Complications of Endoscopy Capsule Market
Opportunities:
Growing Healthcare Market in various Emerging Economies such as China, India, Brazil, among others
Market Leaders and their expansionary development strategies
In December 2023, Healthcare technology company Medtronic has expanded its existing partnership with Cosmo Intelligent Medical Devices, to boost AI-powered endoscopy
In October 2023, Medical technology company Olympus has introduced its next-generation EVIS X1 endoscopy system for gastrointestinal (GI) practitioners. The EVIS X1 endoscopy system features Texture and Color Enhancement Imaging technology to enhance image colour and texture during endoscopic screening to increase the visibility of lesions and polyps.
Key Target Audience
Endoscopy Capsules Manufacturer, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.