Capsule Endoscopy Market by Global Size, Trends and Research Analysis 2021 - Given Imaging, Olympus Corporation, IntroMedic Co., Ltd.

The Global Capsule Endoscopy Market size was valued at USD 687.14 million in 2019, is predicted an elevation up to USD 1,975.68 million by 2030, with a CAGR of 9.2% from 2020-2030

Capsule endoscopy is a non-invasive, medical diagnostic procedure, utilized for comprehensive examination of gastrointestinal tract, for detecting celiac disease, obscure gastrointestinal bleeding, polyps, small intestine tumors, inflammatory bowel diseases, appendicitis and other gastrointestinal diseases that weaken the digestive system. Capsule endoscopy system comprises of a work station, data recorder, sensors, and software, integrated with a wireless video capsule that is equipped with a camera, transmitter, battery, and a light source.

The video capsules are similar to pharmaceutical capsules, but are larger in size. Once the patient swallows the capsule, it passes through the gastrointestinal tract, recording several images per second, that are transmitted to portable data recording device carried by the patient, and is disposed-off naturally. These data recording devices can locate the position of capsule in gastrointestinal tract. The images processed are used for further intervention. With advancement in technologies, capsule endoscopy is reaching new heights with the development of advanced capsules that are capable of taking biopsies and releasing medication at the affected spot of the entire gastrointestinal tract

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Competitive Landscape :

Comprehensive competitive analysis and profiles of the major market players in the capsule endoscopy market include, Given Imaging, Olympus Corporation, IntroMedic Co., Ltd., Chongqing Jinshan Science & Technology Co., Ltd, Fujifilm Holding Corporation, CapsoVision, RF System lab, and others are provided in the capsule endoscopy market report.

An upsurge in R&D activities and advancement in product technologies along with new product launches by the key players, is leading the healthcare infrastructure to new heights, thereby creating lucrative opportunities in the global capsule endoscopy market.

For instance, in December 2019, Fujifilm Holding Corporation, one of the major market players in the global capsule endoscopy market, announced its acquisition of Hitachi’s Diagnostic Imaging-related Business, with purchase price being approximately 1.63 billion USD. Fujifilm's medical systems branches from its biopharma, medical informatics, regenerative medicine healthcare, X-ray & imaging, endoscopy, mammography, CT, along with in vitro diagnostics and ultrasound technologies. Through this acquisition Fujifilm strategizes to further expand its Healthcare business by reinforcing the value of Hitachi's medical equipment with its own image processing, AI technology, and sales strategy from its REiLI brand. Moreover, the company aims at providing new values and solutions to the global market by leveraging its strong global sales network.

Furthermore, Chongqing Jinshan Science & Technology Co., Ltd, one of the key players in the capsule endoscopy market, introduced its ‘OMOM HD capsule endoscopy technology,’ for the first time in the 2nd World Congress of GI Endoscopy-ENDO2020, held in Rio de Janeiro, Brazil, in March 2020. OMOM HD, the fully-automatic robotic capsule, is a revolutionary artificial intelligence technology, offering highest resolution, enhanced redundancy deletion, recognition of abnormalities, and improved reading efficiency, hence reducing the operational complexities for medical practitioners. OMOM HD aims at providing more details in less time, mainly in real-time monitoring and auto-pairing to strengthen intraoperative monitoring as well as to simplify system preparation.

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Market Segmentations and Scope of the Study:

The capsule endoscopy market share has been analyzed based on product, accessory, application, and geography.

Based on product, the capsule endoscopy market is segmented into small bowel diseases, esophageal, and colonic. Based on accessory, the capsule endoscopy market covers wireless capsule and workstations & recorders. Based on application, the capsule endoscopy market is classified into obscure gastrointestinal bleeding (OGIB), Crohn’s, and small intestine tumors. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis:

North America is anticipated to dominate the global capsule endoscopy market throughout the forecast period, accounting for the highest market share. This is attributed to higher prevalence of gastrointestinal disease in this region, well-established healthcare facilities, advancements in product technology, as well as presence of key market players in this region.

Asia-Pacific is expected to observe a substantial growth in the global capsule endoscopy market throughout the forecast period, growing with the highest CAGR values. This is due to higher population base, untapped opportunities offered by the emerging economies in this region, as well as growing number of mergers and acquisitions in the capsule endoscopy market, among the market players, in this region.

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