Endoscopy Capsule Market to grow at a Significant Rate during the Forecast Period
Growing prevalence of chronic
diseases is driving the Global Endoscopy Capsule Market growth in the forecast
period, 2022-2026.
According
to TechSci Research report, “Global Endoscopy Capsule Market By Product Type (Small
Bowel, Esophageal, Colon) By Accessories (Wireless Capsule v/s Workstation and
Receiver) By Endoscope Type (Capsule Cystoscopies v/s Capsule Neuro-Endoscopes)
By Application (OGIB (Obscure Gastrointestinal
Bleeding), Crohn’s Disease, Small Intestine Tumor, Others) By End User
(Hospitals & Clinics, Ambulatory Care Center, Others) By Company, By
Region, Competition Forecast & Opportunities, 2026”,
the global endoscopy capsule market is anticipated for an impressive boost in
the upcoming five year, 2022-2026. The market has shown a consistent growth
with influential CAGR in past five years until 2019. The factors like increasing
geriatric population and their tendency to be infected with gastrointestinal
diseases like CRS, inflammatory bowel disease and appendicitis is supporting
the growth of the global endoscopy capsule market. The pill form of the camera
is completely safe and can be ingested orally. This pill form of the camera
travels the GI tract while clicking picture with its movement. Peristaltic
movement of the tract facilitates the motion of the endoscopic capsule
throughout its passage. The images are then transferred to the monitor via
wireless connection and doctors and examiners can then identify and analyze the
issue. This process allows a completely risk free, non-invasive, and accurate
method of identification and diagnosis of the diseases inside gastro-intestinal
tract.
Due
to the onset of COVID-19 and imposition of complete lockdown to mitigate the
coronavirus, there has been shutdown of many manufacturing units and disruption
in the supply chain resulting in interrupted production and lesser supply of
the endoscopy capsule all around the globe. Also, the economy has been
adversely affected in many countries resulting in the hinderance to the growth
of the endoscopy capsule market. However, after relief from lockdown market is
again going to pick up pace to grow significantly.
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The global endoscopy capsule market is segmented by
product type, accessories, endoscope type, application, end user, regional
distribution, and company. Based on application the market is further
categorized into OGIB (obscure gastrointestinal bleeding), Crohn’s disease,
small intestine tumor, and others. Diagnosis of obscure gastrointestinal
bleeding was conducted by barium X-rays, which was not very effective.
Endoscopy capsule has proved itself to be more effective in the diagnosis of
the disorder. Also, Crohn’s disease and small bowl tumors are efficiently
identified by using the endoscopy capsule method, making the demand grow more rapidly.
Moreover, the process allows a real-time
visualization of the tract making diagnosis easier and faster, thereby
supporting the market growth. Technical advancement in the device development
is anticipated to enhance the chances of its preference for the processes and
thereby boost the global endoscopy capsule market growth.
Some of the major competitors in the market are
Medtronic Plc., Olympus Corporation, Fujifilm Holding Corporation, IntroMedic
Co., Ltd., CapsoVision, Inc., RF System lab (RF Co., Ltd), StatLink Systems,
Chongqing Jinshan Science & Technology (Group) Co. Ltd, Shangxian Minimal
Invasive Inc., Check-Cap Ltd., among others. The companies are focusing on
extensive research and developments activities to stay competitive in the
market. Other competitive strategies include formation of alliances and
partnerships.
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“GI disorders and colorectal cancer
cases are rapidly rising in the North American region. Although the region has
the excellent health care services still the practice of sedentary lifestyle is
influencing the number of patients. Favorable reimbursement plans, new
investments and effective development of advanced technology might help new
players in the market,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Endoscopy Capsule
Market By Product Type (Small Bowel, Esophageal, Colon) By Accessories
(Wireless Capsule v/s Workstation and Receiver) By Endoscope Type (Capsule
Cystoscopies v/s Capsule Neuro-Endoscopes) By Application (OGIB (Obscure
Gastrointestinal Bleeding), Crohn’s Disease, Small Intestine Tumor, Others) By
End User (Hospitals & Clinics, Ambulatory Care Center, Others) By Region,
Competition Forecast & Opportunities, 2026”, has evaluated the future
growth potential of Global Endoscopy capsule and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Endoscopy capsule.
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