Capsule Endoscopes Market - Global Market Size, Share and Demand, 2023
Global capsule endoscopes market is growing with a significant rate due to demand for faster and accurate diagnostic tools, for managing the rising prevalence of gastrointestinal diseases, colorectal cancer, and government initiatives. Moreover, increasing aging population and introduction of technologically advanced capsules such as Wi-Fi enabled capsule and longer battery life capsule are expected to support the capsule endoscopes market to grow in the coming years. Aging increases the risk of gastrointestinal disorders, such as inflammatory bowel disease, CRC, and appendicitis.
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According to the World Health Organization, the population of 60 years and above is expected to rise to 15% in 2050. Peptic ulcers are general in elderly people and are mostly caused due to prolonged usage of H, Pylori infection and non-steroidal anti-inflammatory drugs (NSAIDS). Some of the patients suffering from ulcers have serious complications and sometimes it becomes life threatening for them. This is expected to expand the patient base, resulting in the growth of the capsule endoscopes market. Moreover, the use of hybrid and magnetic capsules to enable enhanced imaging and better control are ongoing research attributes, which is further expected to support the capsule endoscopes market to grow in the coming years.
North America leads the capsule endoscopes market, due to the presence of favorable reimbursement policies, rising prevalence rate of gastrointestinal disorders and colorectal cancer, increasing adoption of minimally invasive capsule endoscopy by patients and advanced healthcare infrastructure in the region. Asia-Pacific is expected to grow with the highest rate in the coming years, due to increasing disposable income, increasing patient awareness levels, presence of untapped opportunities regarding cancer screening and improving healthcare infrastructure.
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Healthcare professionals and patients are shifting from conventional methods, such double balloon enteroscopy to the capsule endoscopes. All this is due to benefits from capsule endoscopes such as a real time image of the entire small intestine, quick and easy diagnosis, providing extensive growth to the capsule endoscopes market in the coming years.
Some of the competitors in the capsule endoscopes market are Olympus Corporation, Capso Vision Inc., Chongqing Jinshan Science & Technology Co., RF System lab, Fujifilm Holding Corporation, Given Imaging Ltd., and IntroMedic Co., Ltd.
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