Capsule Endoscopy Market – Overview:
Market Research Future (MRFR) has published a research report that foretells expansion of the global capsule endoscopy market with 8.7% CAGR (Compound Annual Growth Rate) between 2018 and 2023.
The key factors that are driving the growth of this market during the forecast period include demand for fast and accurate diagnostic tools, growing geriatric population, and rising occurrences of gastrointestinal diseases. However, the high cost of capsule endoscopy, limited reimbursement, and the risk of capsule retention may hamper the growth of this market.
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Capsule Endoscopy Market – Key Players
The key players in the global capsule endoscopy market include Chongqing Jinshan Science & Technology (Group) Co. Ltd (China), CapsoVision Inc. (USA), Check-Cap Ltd. (Israel), Fujifilm Holding Corporation (Japan), Given Imaging (Israel), IntroMedic Co., Ltd. (South Korea), Olympus Corporation (Japan), and RF System lab (USA).
Capsule Endoscopy Market – Segmentation
The global capsule endoscopy market has been segmented on the basis of application, end user, purpose, type, and region. On the basis of application, the market has been segmented into Crohn’s disease, gastrointestinal bleeding or GIT bleeding, intestine disease, and others. Crohn’s disease is an inflammatory bowel disease (IBD) that causes inflammation of the digestive tract. Based on end users, the market has been segmented into clinics & hospitals, diagnostic centers, and medical research institutes. The purpose-based segmentation segments the market into the investigation, diagnostics, treatment, and others. By types, the market has been segmented into wireless capsule endoscopy and workstation & receiver capsule endoscopy.
Capsule Endoscopy Market – Latest Industry News
• PENTAX Medical, a healthcare industry leader in diagnostic and therapeutic endoscopy solutions, has signed an exclusive distribution agreement with CapsoVision for their CapsoCam Plus® Capsule Endoscopy line of products. 4 JUNE 2018
• The FDA has warned healthcare facilities to avoid using certain endoscope connectors, known as 24-hour multi-patient connectors, due to the potential risk for cross-contamination. These devices are used for connecting the auxiliary water channel of an endoscope to a water source and irrigation system. They are labeled for use with multiple patients over a 24-hour period before they need reprocessing. 18 APR 2018
Capsule Endoscopy Market – Regional Analysis
The regional segmentation of the global capsule endoscopy market segments the market into The Americas (North America & South America), Europe, Asia Pacific, and Middle East & Africa (MEA). Due to government initiatives, increase in inflammatory bowel diseases, increase in the number of colon cancer patients, and technological advancements, the market is rising in this region. Due to technological advancement, North America is a bigger market than South America. In North America, the biggest market comprises of the United States of America (USA) and Canada.
During the forecast period, Europe is expected to be the second largest market. Due to reasons same as the Americas, Western Europe market is bigger than the Eastern Europe market. In this region, the most important country based markets include France, Germany, Italy, Spain, and the United Kingdom (UK), followed by the rest of Western Europe. The market growth in Europe can be attributed to various governments funding and support of the healthcare sector, along with increasing research and development (R & D).
The forecast period predicts Asia-Pacific to be the fastest-growing capsule endoscopy market due to the increasing prevalence of GIT ailments, rising investments in healthcare, rising medical tourism, and R & D by the various governments in the region. In this region, the biggest markets are Australia, China, India, Japan, and South Korea, followed by the rest of the Asia Pacific region. The MEA region is the smallest market due to ignorance of diseases, lack of education, and lack of technical knowledge, less infrastructure development, limited growth in the healthcare sector, political instability, poor medical facilities, and underdeveloped healthcare sector.
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