Global V3 Capsule Endoscopy Market, By Component (Capsule Endoscope, Recorders and Workstation), By Application (Esophageal, Small Bowl Diseases, Colonic) opportunities and forecast 2020-2027
Capsule endoscopy is non-invasive technique which allows the complete inspection of gastrointestinal tract using wireless, disposable device recognised as video capsule, equipped with camera, transmitter, battery, and light source. These capsules capture images in stomach, esophagus, and small intestine that are utilized for diagnosis of various gastrointestinal diseases. The incorporated camera in capsule takes about two pictures every second and battery of capsule lasts for about 8 hours.
According to American Cancer Society (ACS), about 141,000 people were identified with colorectal cancer in U.S. and about 49,000 people died in the year 2011. Furthermore, colorectal cancer is third most commonly identified disease and is the third leading source of deaths in the U.S. Therefore, a large patient base of GI requires adequate diagnosis as well as monitoring. Given Imaging was first company to develop the capsule endoscopy model that was introduced in developed countries in the year 2001. Capsule endoscopy system has developed as effective diagnosis and management technique for the GI diseases such as colorectal cancer, Crohn’s disease, polyposis syndromes, small bowel tumors and obscure gastrointestinal bleeding,.Segment Overview
Growing technological sophistication in the capsule endoscopes, bringing about progressive functionalities such as site-specific medicine release, and biopsy is also expected to be key driver for global capsule endoscopy market during the forecast period. The rising medical devices industry is expected to fund important technological development in the capsule endoscopes in coming years, leading to growing demand from global capsule endoscopy market during the forecast period.Regional Overview
The North America is expected to lead the global market during the forecast period, followed by the Europe, due to growing prevalence of colonic conditions in the areas. The growing expansion of biosimilars and various other drugs for treatment of intestinal conditions are also expected to be major driver for capsule endoscopy market.
Asia Pacific is anticipated to grow at highest rate, led by the China, where healthcare sector has developed rapidly during the last few years.Competitor overview
Key players in the global market include RF Co. Ltd., AccuRead Endoscopy Inc., CapsoVision Inc., Fujifilm Holding Corporation, IntroMedic, Olympus Corporation, Chongqing Jinshan Science & Technology, and Medtronic plc.
Nuffield Health Cardiff Bay Hospital, Cardiff, installed new capsule endoscopy machine, in November 2019.Key Players
- AccuRead Endoscopy Inc.,
- RF Co. Ltd.,
- Fujifilm Holding Corporation,
- CapsoVision Inc.,
- Chongqing Jinshan Science & Technology,
- Olympus Corporation,
- Medtronic plc.
- Capsule Endoscopes
- Small Bowel diseases
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- Rest of LAMEA