The Latin America, Middle East and Africa Capsule Endoscopy System Market is expected to witness market growth of 13.9% CAGR during the forecast period (2022-2028).
Capsule endoscopies have gained popularity in recent years due to their advantages of painless visualization of gastrointestinal system pictures, exact diagnosis, and speedier findings. Other factors driving the market growth during the forecast period include the emergence of technologically advanced wireless capsules with additional features such as longer battery life, improved data storage capability, WiFi-enabled devices, easy transmission, ergonomic designs, larger frame rate, 360-degree panoramic view, and improved image quality.
Furthermore, the growing geriatric population is expected to create a significant growth platform for this industry in the approaching years. Inflammatory bowel illness, Crohn's disease, colorectal cancer, and appendicitis are all much more common as people get older. In addition, the rising prevalence of cancer in both older and younger persons in recent years, as well as the growing prevalence of screening tests, such as capsule endoscopy for diagnosis, is expected to drive market growth.
Several Latin American governments are working to improve their healthcare systems. Brazil's healthcare sector has seen significant changes, making it one of the most promising and enticing sectors in the world. The regional market is expected to develop in the next years due to a huge number of gastrointestinal disorders, colorectal cancer cases in Brazil and Mexico, and an increasing elderly population base.
The UAE has made significant investments in the creation of world-class medical facilities with high treatment standards for UAE citizens and visitors from other countries, particularly those from the Middle East and Africa, who travel to the UAE on medical tourist visas. One-third of adults in the UAE are obese, and one out of every five people has diabetes, according to the World Health Organization. These people will demand higher-quality healthcare as the prevalence of lifestyle diseases rises. To satisfy this demand, the government is focusing on improving healthcare infrastructure, which will boost endoscopic device usage throughout the region.
The Brazil market dominated the LAMEA Capsule Endoscopy System Market by Country in 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $23.7 million by 2028. The Argentina market is experiencing a CAGR of 14.5% during (2022 - 2028). Additionally, The UAE market is expected to exhibit a CAGR of 13.6% during (2022 - 2028).
Based on Component, the market is segmented into Capsule Endoscope and Work-stations & Recorders. Based on Disease Type, the market is segmented into Small Intestine Disorder, Esophageal Disorder, and Colonic Disorder. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Fujifilm Holdings Corporation, Medtronic PLC, Olympus Corporation, Check Cap Ltd., CapsoVision, Inc., Chongqing Jinshan Science and Technology Group Co., Ltd., IntroMedic Co., Ltd., RF Systems Lab, Shangxian Minimal Invasive, Inc., and AnX Robotica Corp.
Capsule endoscopies have gained popularity in recent years due to their advantages of painless visualization of gastrointestinal system pictures, exact diagnosis, and speedier findings. Other factors driving the market growth during the forecast period include the emergence of technologically advanced wireless capsules with additional features such as longer battery life, improved data storage capability, WiFi-enabled devices, easy transmission, ergonomic designs, larger frame rate, 360-degree panoramic view, and improved image quality.
Furthermore, the growing geriatric population is expected to create a significant growth platform for this industry in the approaching years. Inflammatory bowel illness, Crohn's disease, colorectal cancer, and appendicitis are all much more common as people get older. In addition, the rising prevalence of cancer in both older and younger persons in recent years, as well as the growing prevalence of screening tests, such as capsule endoscopy for diagnosis, is expected to drive market growth.
Several Latin American governments are working to improve their healthcare systems. Brazil's healthcare sector has seen significant changes, making it one of the most promising and enticing sectors in the world. The regional market is expected to develop in the next years due to a huge number of gastrointestinal disorders, colorectal cancer cases in Brazil and Mexico, and an increasing elderly population base.
The UAE has made significant investments in the creation of world-class medical facilities with high treatment standards for UAE citizens and visitors from other countries, particularly those from the Middle East and Africa, who travel to the UAE on medical tourist visas. One-third of adults in the UAE are obese, and one out of every five people has diabetes, according to the World Health Organization. These people will demand higher-quality healthcare as the prevalence of lifestyle diseases rises. To satisfy this demand, the government is focusing on improving healthcare infrastructure, which will boost endoscopic device usage throughout the region.
The Brazil market dominated the LAMEA Capsule Endoscopy System Market by Country in 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $23.7 million by 2028. The Argentina market is experiencing a CAGR of 14.5% during (2022 - 2028). Additionally, The UAE market is expected to exhibit a CAGR of 13.6% during (2022 - 2028).
Based on Component, the market is segmented into Capsule Endoscope and Work-stations & Recorders. Based on Disease Type, the market is segmented into Small Intestine Disorder, Esophageal Disorder, and Colonic Disorder. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Fujifilm Holdings Corporation, Medtronic PLC, Olympus Corporation, Check Cap Ltd., CapsoVision, Inc., Chongqing Jinshan Science and Technology Group Co., Ltd., IntroMedic Co., Ltd., RF Systems Lab, Shangxian Minimal Invasive, Inc., and AnX Robotica Corp.
Scope of the Study
Market Segments Covered in the Report:
By Component
- Capsule Endoscope
- Work-stations & Recorders
By Disease Type
- Small Intestine Disorder
- Esophageal Disorder
- Colonic Disorder
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Fujifilm Holdings Corporation
- Medtronic PLC
- Olympus Corporation
- Check Cap Ltd.
- CapsoVision, Inc.
- Chongqing Jinshan Science and Technology Group Co., Ltd.
- IntroMedic Co., Ltd.
- RF Systems Lab
- Shangxian Minimal Invasive, Inc.
- AnX Robotica Corp.
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 4. LAMEA Capsule Endoscopy System Market by Component
Chapter 5. LAMEA Capsule Endoscopy System Market by Disease Type
Chapter 6. LAMEA Capsule Endoscopy System Market by Country
Chapter 7. Company Profiles
Companies Mentioned
- Fujifilm Holdings Corporation
- Medtronic PLC
- Olympus Corporation
- Check Cap Ltd.
- CapsoVision, Inc.
- Chongqing Jinshan Science and Technology Group Co., Ltd.
- IntroMedic Co., Ltd.
- RF Systems Lab
- Shangxian Minimal Invasive, Inc.
- AnX Robotica Corp.
Methodology
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