Capsule Endoscopy Market Research Report - Forecast till 2027

Capsule Endoscopy Market: Information by Component (Capsule Endoscopy, Capsule Endoscopy Data Recorder and Capsule Endoscopy Workstations), Endoscope Type (Capsule Cystoscopies and Capsule Neuro-Endoscopes), Product (Small Bowel Capsule, Esophageal Capsule and Colon Capsule), Application (Obscure Gastrointestinal Bleeding (OGIB), Crohn’s Disease and Small Intestine Tumor), End User (Hospitals, Clinics and others) - Forecast till 2027

ID: MRFR/MED/0851-CR | February 2021 | Region: Global | 132 pages         

Capsule Endoscopy Market

Capsule Endoscopy Market accounts for USD 967.4 million and expected to register healthy CAGR 8.8% during the forecast period.

Segmentation

By Component Capsule Endoscopy Capsule Endoscopy Data Recorder Capsule Endoscopy Workstations
By Endoscope Type Capsule Cystoscopies Capsule Neuro-Endoscopes
By Product Small Bowel Capsule Esophageal Capsule Colon Capsule
By Application Obscure Gastrointestinal Bleeding (OGIB) Crohn’s Disease Small Intestine Tumor
By End User Hospitals Clinics others

Key Players

  • Medtronic PLC
  • Olympus Corporation
  • IntroMedic
  • Chongqing Jinshan Science & Technology
  • CapsoVision Inc.
  • Fujifilm Holding Corporation
  • RF Co.Ltd
  • AccuRead Endoscopy

Drivers

  • Increasing small intestinal disorders
  • Increasing geriatric population
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Capsule Endoscopy Market Overview


Capsule Endoscopy market at Global level is a procedure that is used to get visual imaging of the inside area of intestines and other parts of the digestive tract. The reason why the market is getting into heights is that it is used to detect polyps, are there inflammatory bowel diseases, ulcers, and tumors of the intestine, especially the small intestine. The capsule endoscopy market as per the registered forecasted periods is expected to attain a CAGR of 8.8% and is thought to reach USD 967.4 million by 2023.


With the growing world market of capsule endoscopy, there are certain risks and restraints to it such as complications of lack of skilled physicians that do hinder the growth of the market.


COVID 19 Analysis


As for the growing situation of coronavirus which the world is facing every day. The market of the global capsule endoscopy is not at its best. Due to the attention that has been all soaked up by the pandemic. It has caused other diseases and other problems to get suppressed beneath it. Other problems and diseases are now given less heed and importance. Cancer, pneumonia, jaundice, and are also not treated to an extent where they should be. Hence more and more medical issues are developing but not being cured which is steeping down the market of capsule endoscopy.


Market Dynamics


Drivers


The capsule endoscopy market is growing tremendously in the global market due to the increasing small intestinal disorders and increasing geriatric population. The other valid region why the market is growing is due to the new cases of colon cancer that have been reported in America in 2018. Also, the population with the higher number of older people tend to have the propensity of gastrointestinal diseases and hence they need capsule endoscopy. This is why the global market is directly growing bigger in a much positive way.


Opportunities


The capsule endoscopy market is growing tremendously in the global market and hence has various new opportunities to grow and develop. There are many new coming opportunities. For instance, according to the American Cancer Society in 2018, it is thought that about 97,220 new cases of colon cancer were seen and observed. The older population is growing with a higher tendency to get affected with gastrointestinal diseases and will eventually need capsule endoscopy which is most likely to affect the growth of global capsule lenders' copy market in a much broader sense and positive sense.


Restraints


Although the capsule endoscopy market is growing tremendously, that doesn't always mean positively. When there are higher market growth levels, various risks, and complications hinder the growth. One of the reasons which stop the global market from growing is the lack of skilled physicians who constrain the growth of this market.


Value Chain Analysis


The capsule endoscopy market is growing and is benefiting various people as it is used to detect polyps, many other inflammatory bowel diseases that are quite destructive to the abdomen. Other reasons which add value to the growing global market are the detection of ulcers and tumors of the small intestine which are the most prevalent diseases in youngsters as well as old age people. Usually, the reason behind the prevalence of such problems is due to the unhealthy lifestyle that has been adopted.


Capsule Endoscopy Market Size, by End User, 2017 (USD Million)  Capsule Endoscopy Market


Source: MRFR Analysis


Market Segmentation


The capsule endoscopy market has been divided based on the component, type, application, product, and distribution channels.


Based On The Component


The global market has been divided based on the component into the scope capsule and scope data recorder and capsule endoscopy workstations.


Based On The Type


The global market has been divided based on the type that captures cystoscopies and capsule neuro endoscopes.


Based On The Product


The global market has been divided based on the product into small bowel perhaps soon esophageal capsule and colon capsule.


Based On The Application 


The global market has been divided based on the application into obscure gastrointestinal bleeding (OGIB), Crohn's disease, and small intestine tumor. Many new capsule endoscopy manufacturers have come into existence since the year of the industrial era.


Based On The Distribution Channels


The global market has been divided based on the distribution channels into hospitals, clinics, and others. Under the distribution channel, the hospital accounts for the market value of about USD 289.3 million in 2017.


Asia-Pacific Capsule Endoscopy Market Share, by Country, 2017 (%)  Capsule Endoscopy Market


Source: MRFR Analysis


Regional Analysis


The capsule endoscopy industry in the global market has been divided based on the region into the Americas Europe Asia Pacific and the Middle East and Africa. Accounting to the regional analysis Americas is estimated to have dominated the capsule endoscopy market as per the forecasted period. Also, it is attributed that due to the huge presence of patients who are suffering from intestinal diseases and well-developed technology high expenditure on health care and government support for research and development makes America stand higher in the market.


Other factors that boost the presence of America is the topmost capsule endoscopy market size holder is due to the rapid development and also the launch of novel biosimilar drugs that are used for the treatment of diseases.


As for the analysis Europe is thought to be the second-largest capsule endoscopy holder as per the forecasted period. Crohn's disease and ulcerative qualities are the two major factors that are thought to boost the growth of the market in this region. Other factors that support the growth of the market are due to the focus on mergers and acquisitions which moreover support the capsule endoscopy market growth.


The Asia Pacific although stands third in the rank but still is estimated as the fastest-growing market. The reason why it has the fastest-growing market is due to its worst population and also there is a presence of tremendous opportunities where the growth of the market can take place. China accounted for a share of 30.0% in 2017 under the region of Asia Pacific.


Going to the situation and development in Africa, Middle East Africa has the least market shares because of the weak economy and the developmental base.


Competitive Landscape


The capsule endoscopy market key players in the global market who are the prominent ones in the endoscope market share are as follows-



  • Medtronic PLC

  • Olympus Corporation

  • IntroMedic

  • Chongqing Jinshan Science & Technology

  • CapsoVision Inc.

  • Fujifilm Holding Corporation

  • RF Co.Ltd

  • AccuRead Endoscopy


All these prominent major key players in the capsule endoscopy market work operate according to some of these strategies which are innovation, product development, acquisition, and expansion.


Recent Developments



  • The recent capsule endoscopy has four cameras and offers 360-degree panoramic measuring of the small bowel which is the best method to discover this small intestine tumor and all the abdominal dysfunctioning.

  • The capsule endoscopy has made developments and consensus of terminology which is fully digital and multilingual hence is reached out to most people.

  • Also, that has initiated a full review of the broad range of strategic alternatives to enhance all these stockholder's values.

  • Various new capsule endoscopy equipment is being manufactured.


Also, the capsule endoscopy cost is quite affordable due to its good quality of life.



  • The capsule endoscopy system market size, capsule endoscopy system market share, endoscopy workstations, capsule endoscopy companies are the main regions of development in the last few years. Making capsule endoscopy available for the general public.


Report Overview


The capsule endoscopy market research report consists of the following elements:



  • Market Overview

  • COVID 19 Analysis

  • Market Dynamics

  • Value Chain Analysis

  • Market Segmentation

  • Regional Analysis

  • Competitive Landscape

  • Recent Developments


This global market research report consists of the factors that drive and restrict the global market. This report also contains various growth opportunities in the global market during the forecasted period. The impact of COVID 19 on the market is also estimated. The future growth rate in the global market is mentioned.



Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2023: USD 967.4 Million
  • 2027: Significant Value
  •   CAGR   8.82% (2018-2023)
      Base Year   2019
      Forecast Period   2020-2027
      Historical Data   2018
      Forecast Units   Value (USD Million)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Component, Product, Endoscope Type, Application, End User
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Medtronic PLC, Olympus Corporation, IntroMedic, Chongqing Jinshan Science & Technology, CapsoVision Inc., Fujifilm Holding Corporation, RF Co.Ltd, and AccuRead Endoscopy Inc.
      Key Market Opportunities   New product launches and R&D Amongst major key Players
      Key Market Drivers

  • Growing prevalence of small intestinal disorders
  • Increasing geriatric population


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    Frequently Asked Questions (FAQ) :

    Capsule Endoscopy Market is expected to reach a valuation of USD 967.4 million by 2023.

    Capsule Endoscopy Market is expected to exhibit a strong 8.82% CAGR over the forecast period from 2018 to 2023.

    The growing prevalence of disorders related to the small intestine is likely to be the major driver for the market.

    The Americas is the leading regional market for capsule endoscopy.

    Leading players in the capsule endoscopy market include Medtronic, IntroMedic, Olympus, Fujifilm, Chongqing Jinshan Science and Technology, and CapsoVision, among others.

    Global Capsule Endoscopy Market: Competitive Landscape


    The prominent players in the global capsule endoscopy market are Medtronic Plc, Olympus Corporation, IntroMedic, Chongqing Jinshan Science & Technology, Capsovision, Fujifilm Holding Corporation, RF Co.,Ltd, AccuRead Endoscopy Inc., and others


    Medtronic Plc is the holds the largest share for the global capsule endoscopy market in 2017. The firm operates as a global healthcare solutions company dealing in medical technologies, services, and solutions. Medtronic with the acquisition of Covidien has accelerated and advanced its innovations for hospitals, health systems, and healthcare providers.


    Olympus Corporation holds second position in terms of market share in the global Capsule endoscopy market in 2017. The company specializes in the development, production, and distribution of surgical instruments. The company has a product portfolio of more than 2,000 titanium instruments including general instruments, ophthalmic instruments, neurosurgical instruments, thoracic and cardiovascular instruments, microsurgical instruments, and plastic surgery instruments.


    IntroMedic Co., Ltd holds third position in terms of market share in the global Capsule endoscopy market in 2017. The company manufactures and sells medical devices in the field of endoscopy in South Korea. It offers MiroCam, a capsule endoscopy system for the visualization of the intestinal mucosa as a tool to detect the abnormalities of the small intestine. It exports its products to 80 countries in the Americas, Europe, Asia, and the Middle East and Africa.


    Chongqing Jinshan Science & Technology Co. is one of the largest manufacturers and developers of GI medical devices in the world. The company is the second firm in the world to have developed capsule endoscopy. The company has a dedicated research team, and extensive academy corporation mainly focused on developing the finest GI solutions in the market.


    RF Co. Ltd. develops, manufactures, and markets provides a range of innovative systems for visualizing, diagnosing and monitoring purposes. The company operates as a health care provider in the industrial, medical, and dental industry. The company has capsule endoscopes Sayaka for visual examination of the gastrointestinal tract. The company has two subsidiaries mainly RF929 Co., Ltd. and RF America Corporation in the US.


    Medtronic Plc, Olympus Corporation are the major companies for capsule endoscopy operating on a global scale. The lower market share of RF Co.,Ltd, can be attributed to fewer products offering, as compared to Microsurgical Instruments and other major players. Major players such as IntroMedic, Chongqing Jinshan Science & Technology. increase the level of competition in the global capsule endoscopy market, as these companies are expected to expand their product portfolios, with the help of other business units, to increase their market share.


    Intended Audience



    • Endoscopy devices manufacturers and suppliers

    • Capsule endoscope manufacturers and suppliers

    • Medical research laboratories

    • Research and Development (R&D) Companies

    • Market Research and Consulting Service Providers

    • Potential Investors