Global Capsule Endoscopy Market: Overview
Capsule endoscopy is a painless,
minimally invasive procedure used for the detection of digestive
disorders. In capsule endoscopy, a pill-sized endoscope is swallowed by
the patient and images of the digestive tract are recorded and later
examined for the diagnosis of various intestinal diseases. Capsule
endoscopies are performed to detect Crohn’s disease, celiac disease,
obscure gastrointestinal bleeding, tumors in the small intestine,
adverse reactions to nonsteroidal anti-inflammatory drugs (NSAID), and
various other conditions that inflict the digestive system. Various
types of capsule endoscopes are used to examine the small bowel,
esophagus, and colon. The primary components of capsule endoscopes are a
camera, a transmitter, batteries, and a light source.
One of the key factors driving the
capsule endoscopy market is the rising incidence of gastrointestinal
diseases. According to the National Institutes of Health, around 60 to
70 million Americans are affected by gastrointestinal diseases each
year. In 2004 alone, an estimated 236,000 deaths, 72 million ambulatory
care visits, and 4.6 million hospitalizations were attributed to
gastrointestinal diseases in the U.S., with the healthcare expenditure
on these diseases pegged at around US$142 bn each year.
Global Capsule Endoscopy Market: Key Trends and Opportunities
The global market for capsule endoscopy
has been witnessing a steady rise in demand owing to a number of
factors, including the presence of supportive government initiatives,
the demand for more accurate and faster diagnostic tools, the rise in
the global geriatric population, and the introduction of technologically
advanced devices such as endoscopes with a longer battery life,
Wi-Fi-enabled capsules, and magnetic and hybrid versions.
The demand for small bowel capsules has
been consistent owing to their rising usage for the detection of medical
conditions such as inflammatory bowel disease, small bowel neoplastic
lesions, obscure gastrointestinal tract bleeding, and Crohn’s disease.
The demand for colon capsules is also anticipated to witness a rise in
the coming years owing to the increasing prevalence of colon cancer. The
demand for less invasive diagnostic procedures in such cases is likely
to push the market for colon capsule endoscopy.
Global Capsule Endoscopy Market: Regional Outlook
There are four main geographical segments
of the global capsule endoscopy market: Europe, North America, Asia
Pacific, and Rest of the World. North America is the clear leader in the
overall capsule endoscopy market and is likely to retain its lead
position through the forecast period. The increasing prevalence of
colorectal cancer and gastrointestinal disorders is one of the key
factors fueling this market. Other major drivers include the presence of
favorable reimbursement policies, the availability of advanced
healthcare infrastructure, and the rising adoption of minimally invasive
endoscopy procedures.
The Asia Pacific capsule endoscopy market
is projected to witness impressive growth in the near future owing to a
surge in patient awareness levels, the rise in disposable income and
healthcare spending, improving healthcare infrastructure, the presence
of untapped opportunities in the area of cancer screening, and the
establishment of several endoscopic training centers. A number of
countries in the Middle East, North Africa, and South America are also
anticipated to experience steady growth owing to the presence of an
efficient workforce, rising investments in personnel training, and
numerous government initiatives.
There are a number of players competing
in the global capsule endoscopy market, the prominent ones being
Fujifilm Holding Corporation, Olympus Corporation, RF System Lab,
Chongqing Jinshan Science & Technology Co., Capso Vision Inc.,
IntroMedic Co., Ltd., and Given Imaging Ltd. These companies have been
adopting several business strategies, such as new product development
and research activities to withstand the intensifying competition in the
capsule endoscopy market.
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