Capsule Endoscopy Market Is Expected To Reach USD 1.30 Billion By 2026

According to the current analysis of Reports and Data, the global Capsule Endoscopy market was valued at USD 0.60 Billion in 2018 and is expected to reach USD 1.30 Billion by year 2026, at a CAGR of 9.0 %. The study covers the capsule endoscopy procedure used for the medical examination of various chronic diseases. Endoscopic capsules are available for a variety of endoscopy processes ranging from gastrointestinal tract inspection, respiratory tract inspection, reproductive tract inspection, etc. Modern capsule endoscopy process is disrupting the market by enabled to have a 360-degree view of the medical inspection.

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Rising prevalence of chronic diseases, gastrointestinal infections, peptic ulcers, bowel tumors, abdominal bleeding would result in the growth of the capsule endoscopy market globally. Significant focus of healthcare companies on development of modern technology in capsule endoscopy, availability of public as well private funds for research, and favorable regulatory scenario, are some of the key factors propelling market growth in the industry. However, cost associated in the procedure, availability of other medical examination procedures like ultrasound, global supply chain of the associated equipment, are the major hinderances that would affect the growth of the capsule endoscopy market during 2019-2026.

Further key findings from the report suggest

• • Capsule Endoscopy market is growing at a CAGR of 10.1 % in Asia Pacific followed by North America and Europe, with 9 % and 8.7 % CAGR, respectively. High disease prevalence across the globe is the key factor to accelerate the market growth during forecast period across all regions.
  • Among the various components of this industry, capsule endoscopy takes up the majority market share, which is around 50 %, the rest is accounted by data recording devices and workstations.
  • The global capsule endoscopy equipment market is dominated by established giants. New entrants have a good scope to come up with technical advancements in the existing products however, good sources of funding needed.
  • Ageing population, beyond 65 years of age is expected to rise substantially from the previous decade, which lays down a lucrative opportunity for the market.
  • Asia Pacific is expected to account for the 19.7% of the global capsule endoscopy Developing nations such China, and India are likely to witness high growth for the period.
  • Penetration level of healthcare facilities into the untapped regions across the globe would hinder the growth of the capsule endoscopy market.
  • Rising rate of various chronic diseases like cancer, is going to be one of the most important drivers of the market.

The ongoing pandemic is significantly changing the dynamics of the pharma and healthcare sector. Various countries are facing challenges such as shortage of medicines, vaccines, healthcare devices in hospitals. This is expected to open lucrative growth opportunities for market players in the coming years.

Competitive Landscape:

The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.

Top Companies Profiled in the Report:

Olympus Corporation, RF System Lab, Given Imaging Ltd., Chongqing Jinshan Science & Technology Company, Fujifilm Corporation, Intromedic Co Ltd., CapsoVision Inc.

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Capsule Endoscopy Market Segmentation:

By Product Type (Revenue, USD Million; 2016–2026)

• Colonic capsule
• Bowel capsule
• Esophageal capsule

 By Application Type (Revenue, USD Million; 2016–2026)

• Gastrointestinal tract
• Respiratory tract
• Female reproductive tract
• Ear
• Urinary tract

Regional Outlook:

• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
• Latin America (Brazil, Rest of LATAM)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.

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