Capsule Endoscopes Diagnostics Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029

The development of capsule endoscopy in 2001 has given gastroenterologists the opportunity to examine the gastrointestinal tract in a non-invasive manner. Capsule endoscopy is a digital healthcare technology that can be utilized to detect gastrointestinal disorders such as gastroparesis, esophageal disease, gastrointestinal bleeding, and colon related diseases, followed by Crohn’s disease and polyposis syndrome. Capsule endoscopy has revolutionized the diagnosis of various parts of the GI system in a very simple manner. Medical professional can gain edge in observing the various parameters of gastrointestinal tract such as temperature, pressure, and pH with the help of capsule endoscopes. Capsule endoscopy is an emerging technology that clutches huge potential in medical diagnostics. The existing wireless capsule endoscopes does not have the ability to treat pathologies related to the gastrointestinal tract. Realizing this, trials are being conducted for exploring direct delivery of the drug to the target pathogens such as ulcers or tumors through capsule endoscopes. A capsule endoscope system consists of wireless video capsule, sensor array or a sensor belt, data recorder, and workstation with the software.

Although there are options are available in the market such as IntelliCap by Philips Electronics, and Enterion capsule by Phaeton Research (these systems are capable of delivering drug up to 1ml to a region in GI tract like colon, ileum, and jejunum), these systems do not deliver drug at the target areas like ulcer or tumors. Recently the FDA approved the first drug Abilify Mycite, which tracks ingestion of medication by the patient and physician can monitor this activity on their phone. The system includes a sensor which transmits the information to a wearable patch.

This study titled ‘Capsule Endoscopes Diagnostics Market - Growth, Future Prospects, and Competitive Analysis, 2021 - 2029’ states a comprehensive analysis offering company executives, investors, industry participants, and developers to take strategic initiatives and verdicts related to the scenarios in the global capsule endoscopes diagnostics market. This report explains and analyzes the major trends dominant in the global capsule endoscopes diagnostics market and the market size and forecast.

This scope of the report comprises segments in form of diseases of gastrointestinal tract and geographical distribution. The segments further are categorized into polyp’s detection, crohn's disease diagnosis, ulcers monitoring, celiac detection, tumors of small intestine, occult gastrointestinal bleeding, and diverticulosis detection, and others. Forecast and market size is performed for the mentioned segments for the duration 2019-2029 alongside CAGRs for the duration 2021-2029.

This report incorporates the geographical distribution into five main regions along with major countries, which are as follows:

• North America
• United States
• Canada
• Europe
• United Kingdom
• Germany
• France
• Italy
• Spain
• Rest of Europe
• Asia Pacific (APAC)
• Japan
• China
• India
• Rest of APAC
• Europe
• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe
• Middle East and Africa (MEA)
• GCC
• Rest of MEA
• Latin America
• Brazil
• Mexico
• Rest of Latin America

The detailed description of above mentioned geographical market is covered for the duration 2019-2029, the report also comprises the CAGRs for the duration 2021-2029, which is further classified on the basis of usage area and at country level market.

An in-depth analysis is done related to the market dynamics such as drivers, restrains, and opportunities are presented in the report, which clarifies the currents trends in the market. Various tools have been used for demonstrating the competitive landscape and potential value of the market. Company profiling is also done for the major players who hold the strong position in the market. Some of the major players in global capsule endoscopes diagnostics market are CapsoVision, Inc., Check-Cap Ltd., Given Imaging Ltd., IntroMedic Co., Ltd., Chongqing Jinshan Science & Technology (Group) Co., Ltd., Olympus Corporation, RF Co., Ltd., Philips Healthcare, Smartpill, Inc., Siemens Healthcare, Stryker Corporation and more.

For the purpose of this study, global capsule endoscopes diagnostics market is studied for their application in following areas:

• Polyps Detection
• Crohn's Disease Diagnosis
• Ulcers Monitoring
• Celiac Detection
• Tumors of small intestine
• Occult Gastrointestinal bleeding
• Diverticulosis Detection
• Others

At present, gastrointestinal diseases are a source of considerable mortality, cost, and morbidity in the United States. According to the National Institute of Diabetes and Digestive and Kidney Disease (NIDDK) statics, 60-70 million people in U.S. are affected by gastrointestinal disease annually. Data from 2004, an estimated 72 million ambulatory center visits, 4.6 million hospitalizations, and 236,000 deaths occurred from gastrointestinal diseases. Capsule endoscopes diagnostics market is strongly supported by technological advancement. Growing life expectancy is also one of the main factors which helps in boosting the capsule endoscopes diagnostics market.

Since its discovery in the year 2000, capsule endoscopes are replacements to ancient endoscopes, with the benefit of non-invasive method to examine the gastrointestinal tract. Increase in the prevalence of diseases related to gastrointestinal tract/digestive system and growth in demand for non-invasive procedures is boosting the growth of capsule endoscopes diagnostics market. Growing healthcare sector and technological advancement are the other drivers for this market.

For the purpose of this study, global capsule endoscopes diagnostics market is studied for their application in following usage areas:

• Hospitals
• Ambulatory Centers
• Private Clinics

Among the considered research areas, capsule endoscopes enjoy the largest application in hospitals followed by ambulatory centers. Higher affordability of hospitals in terms of purchase of capsule endoscopes, advantage of minimal or non-invasive procedure and increase in the number of patients visiting hospitals for diagnosis, treatment and management of GI diseases are the major factors facilitating the adoption of capsule endoscopes in hospitals. It is further expected that due to increasing preference of patients for approaching specialized private clinics for requirements due to faster turnaround times and better treatment outcomes, the demand for capsule endoscopes from private clinics will be higher during the forecast period. Additionally, capsule endoscopy is a new introduction in the endoscopy field, extensive research and study being performed to boost the application of capsule endoscopes.

Geographically, the global capsule endoscopes diagnostics market is cumulative to Europe, Asia Pacific, North America, Middle East and Africa and Middle East & Africa, and Latin America.

In 2020, North America & Europe have accounted for the major share in global capsule endoscopes diagnostics market, tailed by Asia Pacific, due to main driving reasons such as rising prevalence of gastrointestinal diseases and supportive reimbursement policies. According to the estimates of the American Cancer Society, about 50,260 deaths are predicted to be caused in 2021 by colorectal cancer, which is the third leading cause of death in the United States. Capsule endoscopes diagnosis is fully secure and non-invasive, serving the growing demand for non-invasive diagnosis procedures is expected to increase in the near future. During forecast period 2021 - 2029, Asia Pacific is estimated to be the fastest growing region due to key driving factors such as rising prevalence of GI disease in developing countries, increasing awareness associated with early GI disease diagnosis, developing healthcare infrastructure, and mounting demand for the non-invasive procedure.

The detailed regional classification of the global diabetes drugs market is as follows:

• North America (Canada & United States)
• Asia Pacific (India, China, Japan, and Rest of Asia Pacific)
• Europe (France, Italy, Germany, U.K., Spain, and Rest of Europe)
• Latin America (Brazil, Mexico, and Rest of Latin America)
• Middle East and Africa (GCC and Rest of Middle East and Africa)

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