According to a new report published by Introspective Market Research, titled, “Capsule Endoscopy System Market by Type, by Product, by Application, by End-User. Global Market Analysis and Forecast, 2024-2032.
Capsule Endoscopy System Market Size Was Valued at USD 428 Million in 2023 and is Projected to Reach USD 698.91 Million by 2032, Growing at a CAGR of 5.6 % From 2024-2032.
A capsule endoscopy system is a non-invasive diagnostic procedure that uses a small wireless camera encapsulated in a pill-shaped capsule to take pictures of the digestive tract. This capsule, about the size of a large vitamin, is equipped with a light source and a high-resolution camera that can send thousands of images per second to a recorder around the waist.
Capsule endoscopy is a non-invasive procedure that requires no incisions or sedation, making it more comfortable and patient-friendly. This allows for a thorough examination of the small intestine, which is often a difficult area to access. Patients can move around during the procedure, which reduces anxiety and increases comfort. Capsule endoscopy is generally considered safe with minimal risk.
The market for capsule endoscopy systems is growing due to their efficiency and patient friendliness. Advances such as 360-degree imaging improve diagnostic accuracy, enable timely detection and early intervention of gastrointestinal disorders, and improve patient outcomes. As medical professionals increasingly adopt this technology, it will continue to change the gastrointestinal diagnostic landscape.
Gastrointestinal diseases such as Crohn's disease, celiac disease, and obscure gastrointestinal bleeding are increasingly common worldwide. Capsule endoscopy, with its non-invasive imaging capabilities, is a valuable diagnostic tool because it allows visualization of the small intestine, a difficult area with traditional endoscopic methods. This makes it a valuable diagnostic tool for gastrointestinal disorders.
Aging populations worldwide are increasing the prevalence of chronic diseases, including gastrointestinal diseases such as colon cancer, diverticulitis, and bleeding. The capsule endoscopy system, with its patient-friendly approach and less discomfort, is particularly attractive to the elderly with multiple co-morbidities. Its ability to detect abnormalities early, enabling timely medical intervention, can improve patient outcomes and reduce the burden of chronic disease on healthcare systems.
Emerging technologies in various industries drive a cycle of continuous improvement and drive economic growth. Companies that adopt these solutions foster innovation ecosystems and boost individual business operations and broader economic growth. Governments and decision-makers recognize the transformative power of technology, which often spurs research and development initiatives. This collaboration between the public and private sectors creates an environment conducive to innovation and promotes economic prosperity.
Global Capsule Endoscopy System Market, Segmentation
Capsule Endoscopy System Market Segmented based on type, Product, Application, and End-users.
End-Users:
Hospitals are the most dominant segment of the healthcare market due to their critical role and continuous integration of innovative technologies. They require advanced medical devices, electronic health records, telemedicine solutions, and diagnostic tools. Focusing on patient care, improving efficiency and accurate diagnoses forces hospitals to invest in technological innovation. Ongoing digital transformation, including artificial intelligence in diagnostics and robotics in surgery, makes hospitals the main beneficiaries of technological advances. As the healthcare industry evolves, hospitals continue to adopt innovative solutions.
Region:
North America is Expected to Dominate the Market Over the Forecast Period
North America is the most dominant market due to its strong technological infrastructure, extensive R&D capacity, and widespread adoption. The region is home to many technology hubs that fuel innovation and attract top talent. Big tech giants and start-ups are advancing the dominance of North America by breaking boundaries. Established healthcare, financial, and information technology sectors also play a key role in maintaining their market position.
North America's market position is due to government support, a favorable regulatory framework, and a culture that values technological innovation. The region's investments in emerging technologies such as artificial intelligence, biotechnology, and renewable energy strengthen its position as a force shaping the future of various industries. That dominance is largely due to its forward-looking approach, an abundance of resources, and a favorable ecosystem.
Some of The Leading/Active Market Players Are-
- CapsoVision (U.S)
- Boston Scientific Corporation (U.S)
- Northside Gastroenterology Endoscopy Center, LLC (U.S.)
- Interscope, Inc. (U.S.)
- AnX Robotica (U.S.)
- Medtronic plc (Ireland)
- IntroMedic Co., Ltd. (South Korea)
- Chongqing Jinshan Science & Technology (Group) Co., Ltd. (China)
- Shangxian Minimal Invasive Inc. (China)
- Fujifilm Holdings Corporation (Japan) and Other Active Players
Key Industry Developments
- In January 2024, Boston Scientific announced an agreement to acquire Axonics. Boston Scientific Corporation announced that it has entered into a definitive agreement to acquire Axonics, a publicly traded medical technology company focused primarily on the development and commercialization of devices for the treatment of urinary tract and gastrointestinal disorders.
- In January 2024, ANX robotica announced FDA approval of Proscan. A Different Ai-Enabled Rationale For Small-Bowl Video Capsule Endoscopy. AnX Robotica, a pioneer in advanced gastrointestinal imaging technologies, is excited to announce the FDA approval of the NaviCam ProScan. Through a rigorous De Novo submission process, the FDA approved ProScan, making it the first AI-assisted reading tool designed to assist small bowel capsule endoscopy examinations in adult patients with capsule endoscopy images obtained for suspected small bowel bleeding.
Key Findings of the Study
- Hospitals are the most dominant segment due to their critical role and continuous integration of innovative technologies to improve patient care and diagnostic accuracy
- An increase in gastrointestinal diseases such as Crohn's disease, celiac disease, and obscure gastrointestinal bleeding is driving the demand for capsules. endoscopic systems.
- North America is expected to dominate the market due to its strong technological infrastructure, extensive research and development capabilities, widespread adoption of new technologies, and supportive regulatory framework.
