We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies. Cookie Policy.

Features Partner Sites Information LinkXpress
Sign In
Advertise with Us
Sekisui Diagnostics UK Ltd.

Medtronic

Medtronic offers medical products and therapies for the treatment of cardiac and vascular diseases, diabetes, and neu... read more Featured Products: More products

Download Mobile App




Global Capsule Endoscopy Market Driven by Demand for Accurate Diagnosis of Gastrointestinal Conditions

By HospiMedica International staff writers
Posted on 06 Sep 2023
Print article
Image: The GI Genius intelligent endoscopy module is the first-to-market, computer-aided polyp detection system powered by AI (Photo courtesy of Medtronic)
Image: The GI Genius intelligent endoscopy module is the first-to-market, computer-aided polyp detection system powered by AI (Photo courtesy of Medtronic)

Capsule endoscopy offers a highly efficient and rapid method for screening various gastrointestinal conditions, including obscure GI tract bleeding (OGIB), Crohn's disease, cancer, and small intestine tumors. Its advantages, such as painless visualization of the gastrointestinal tract, precise diagnosis, and rapid results, have led to increased adoption in recent years. The global capsule endoscopy market was estimated to be around USD 0.50 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 9.6% from 2023 to 2030. This growth will be driven by various factors such as the increasing prevalence of cancer, a growing global geriatric population, rising demand for minimally invasive diagnostic procedures, and the introduction of technologically advanced capsules.

These are the latest findings of Grand View Research (San Francisco, CA, USA)

The advent of technologically advanced wireless capsules with features like longer battery life, enhanced data storage capacity, Wi-Fi connectivity, ergonomic design, easy data transmission, higher frame rates, 360-degree panoramic views, and improved image quality is fueling market growth. The aging population is expected to provide a strong platform for market growth as age increases the risk of gastrointestinal disorders, including inflammatory bowel disease, Crohn's disease, colorectal cancer, and appendicitis. Additionally, the rising prevalence of cancer in both older and younger adults and the increasing adoption of screening tests, including capsule endoscopy, are likely to boost market growth. However, some limitations of capsule endoscopy, such as capsule retention and limited diagnostic use, could hinder market growth.

Based on application, the OGIB segment held the highest revenue share of the global capsule endoscopy market in 2022 due to numerous advantages provided by capsule endoscopy in the diagnosis and detection of OGIB. In addition, benefits such as real-time visualization, image capturing, and analysis of the entire small intestine and reliable and precise results have driven the adoption of capsule endoscopes for OGIB. The rising adoption of capsule-based endoscopy screening for OGIB over conventional methods, such as double-balloon enteroscopy, is further supporting the segment’s growth. On the other hand, the Crohn’s disease segment is expected to register the fastest CAGR during the forecast period due to higher utilization of capsule endoscopes for detecting the disease.

On the basis of end-use, the hospital segment dominated the global capsule endoscopy market in 2022 mainly due to the significantly high adoption and utilization of capsule endoscopy services across hospitals. Additionally, favorable government reimbursement policies are further boosting the segment’s growth as hospitals are generally the primary health systems in most countries. As a result, the number of screenings performed in hospitals is higher, leading to greater product adoption and demand which is boosting the segment’s growth. On the other hand, the ambulatory surgical centers (ASCs)/clinics segment is expected register the fastest CAGR during the forecast period, due to the minimal time needed for capsule endoscopy screening procedures and faster results.

Based on product, the wireless capsule segment dominated the global capsule endoscopy market with the largest revenue share of 75.9% in 2022 and is expected to maintain its leadership position with the fastest CAGR of 9.8% during the forecast period owing to its advantages in diagnosing complex health conditions, such as gastrointestinal disease, cancer, Crohn's disease, and other small bowel diseases. The growing preference among medical professionals for wireless capsule endoscopy to achieve quicker and more efficient diagnosis is expected to further drive the segment’s growth.

Geographically, North America dominated the global capsule endoscopy market with the largest revenue share of 43.6% in 2022 due to the increasing preference for minimally invasive screening procedures, along with the adoption of technologically advanced products and systems in the region. Additionally, improved healthcare infrastructure, growing awareness about early screening of diseases, such as gastrointestinal disorders, cancer, and other chronic conditions, are supporting the growth of the North American capsule endoscopy market. The Asia Pacific capsule endoscopy market is expected to register a lucrative CAGR during the forecast period due to higher demand for capsule-based endoscopic technologies in screening procedures, improving healthcare infrastructure and rising geriatric population in the region.

Related Links:
Grand View Research

Gold Member
POC Blood Gas Analyzer
Stat Profile Prime Plus
Gold Member
STI Test
Vivalytic Sexually Transmitted Infection (STI) Array
Silver Member
Wireless Mobile ECG Recorder
NR-1207-3/NR-1207-E
New
Video Laryngoscope
SH-VL1

Print article

Channels

Surgical Techniques

view channel
Image: Miniaturized electric generators based on hydrogels for use in biomedical devices (Photo courtesy of HKU)

Hydrogel-Based Miniaturized Electric Generators to Power Biomedical Devices

The development of engineered devices that can harvest and convert the mechanical motion of the human body into electricity is essential for powering bioelectronic devices. This mechanoelectrical energy... Read more

Patient Care

view channel
Image: The newly-launched solution can transform operating room scheduling and boost utilization rates (Photo courtesy of Fujitsu)

Surgical Capacity Optimization Solution Helps Hospitals Boost OR Utilization

An innovative solution has the capability to transform surgical capacity utilization by targeting the root cause of surgical block time inefficiencies. Fujitsu Limited’s (Tokyo, Japan) Surgical Capacity... Read more

Health IT

view channel
Image: First ever institution-specific model provides significant performance advantage over current population-derived models (Photo courtesy of Mount Sinai)

Machine Learning Model Improves Mortality Risk Prediction for Cardiac Surgery Patients

Machine learning algorithms have been deployed to create predictive models in various medical fields, with some demonstrating improved outcomes compared to their standard-of-care counterparts.... Read more

Point of Care

view channel
Image: The Quantra Hemostasis System has received US FDA special 510(k) clearance for use with its Quantra QStat Cartridge (Photo courtesy of HemoSonics)

Critical Bleeding Management System to Help Hospitals Further Standardize Viscoelastic Testing

Surgical procedures are often accompanied by significant blood loss and the subsequent high likelihood of the need for allogeneic blood transfusions. These transfusions, while critical, are linked to various... Read more
Copyright © 2000-2024 Globetech Media. All rights reserved.