• Stacy Lawlor

Global Colon Capsule Endoscopy Market Size to grow USD 939.5 Mn in 2028, at a CAGR of 8.7%.


The Global Colon Capsule Endoscopy Market Size was valued at USD 465.5 Mn in 2021. The market is projected to grow USD 939.5 Mn in 2028, at a CAGR of 8.7%.

Global Colon Capsule Endoscopy Market Size to grow USD 939.5 Mn in 2028, at a CAGR of 8.7%.

Capsule endoscopy is a treatment that involves taking photographs of the digestive tract with a small wireless camera. A capsule endoscopy camera is contained within a vitamin-sized capsule that is swallowed. The camera in the capsule collects thousands of photographs as it goes through the digestive track and transfers to a recorder wearing on a belt around the waist.

Global Colon Capsule Endoscopy Market Size

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COVID-19 ANALYSIS

The global colon capsule endoscopy market is negatively impacted with the outbreak of COVID-19. During the COVID-19 epidemic, the number of elective procedures conducted was postponed, delayed, cancelled, and reduced, which had a substantial influence on the market. Furthermore, disruptions in the supply chain, as well as shifting laws around surgical interventions and endoscopic screening methods, have hampered the growth of the capsule endoscopy market during the pandemic.


Capsule endoscopies have gained popularity in recent years due to their advantages of painless visualisation of gastrointestinal system pictures, exact diagnosis, and speedier findings. Other factors driving market growth during the forecast period include the introduction of technologically advanced wireless capsules with enhanced features such as longer battery life, enhanced data storage capability, WiFi-enabled devices, ergonomic designs, easy transmission, larger frame rate, 360-degree panoramic view, and improved image quality. Furthermore, the growing popularity of minimally invasive surgical procedures has boosted the use of capsule endoscopic systems and wireless capsules, which are primarily used to detect or diagnose gastrointestinal issues like OGIB (obscure GI tract bleeding), Crohn's disease, cancer, and small intestine tumours. Capsule endoscopy delivers very efficient and rapid results for screening such gastrointestinal diseases, resulting in increased usage and market growth.


Furthermore, medical professionals' capsule endoscopy training has been greatly damaged. For training, several organisations have chosen for e-learning courses. However, once things begin to normalise, the training sessions will most likely return to face-to-face training. Furthermore, the benefits given by capsule endoscopy are expected to drive the market for capsule endoscopy post-pandemic expansion. According to a 2021 cohort analysis of 146 patients (74 COVID-19 positives) published in JAMA Network, video capsule endoscopy was used as the first technique to detect active bleeding more frequently (about 59.5 percent) than the usual endoscopic detection process. As a result, such occurrences indicate that the market is recovering from the pandemic.


The small bowel segment has dominated the market share of the global colon capsule endoscopy market in 2020 owing to the inflammatory bowel illness, Crohn's disease, unexplained GI tract bleeding (OGIB), and small intestinal neoplastic lesions have all seen an increase in their use in diagnosis and screening. Moreover, throughout the projected period, the market for capsule endoscopy is expected to rise due to a growing preference for less intrusive screening techniques. The OGIB held the largest market share in 2020 of the global colon capsule endoscopy market. Increasing disposable income and growing demand of advanced OGIB is creating the demand of the the global colon capsule endoscopy market. The hospitals are dominated the market share in 2020 owing to hospital is significantly have higher adoption and utilization of capsule endoscopy services and endoscopes compared to other healthcare systems. Furthermore, the government's favorable reimbursement rules are driving the market's growth. Furthermore, because hospitals are the primary health care providers in the majority of countries, the number of screenings performed in hospitals is higher, indicating greater uptake and demand.


North America region is dominating the market share of global colon capsule endoscopy market owing to the adoption of technologically upgraded products and systems, as well as a growing desire for minimally intrusive screening treatments. Furthermore, enhanced healthcare infrastructure is a driving force behind market expansion. In addition, increased awareness of early screening for diseases including gastrointestinal disorders, cancer, and other chronic problems is one of the major drivers driving market growth in the area.

Global Colon Capsule Endoscopy Market Size

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However, Asia Pacific region is anticipated to grow over the forecasted years owing to the increased demand in this region for capsule-based endoscopic technology for screening operations. In addition, improving healthcare infrastructure and a growing senior population are two significant drivers driving growth. Furthermore, one of the pioneering aspects responsible for attracting international investments is strong economic development in the region. The presence of large competitors, as well as the rapidly evolving start-up scene, is boosting market growth.


KEY INDUSTRY DEVELOPMENTS:


October 2020- Medtronic announced the partnership with Amazon for home delivery of its capsule endoscope-PillCam Genius. It will enable in increasing its penetration at a global level and enhancing patient comfort and satisfaction.


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