Capsule Endoscopy Market: Rapidly Evolving Industry…… COVID-19….



Global capsule endoscopy market is expected to reach USD 886.3 million by 2022; according to a new study by Grand View Research, Inc. Increasing prevalence of colorectal cancer, GI diseases and growing demand for precise and accurate diagnostic tools are expected to drive the capsule endoscopy market over the forecast period. According to a report published by the World Cancer Research Institute, about 54.0% of colorectal cancer cases occurred in developed countries and the number is expected to grow exponentially over the decade. The introduction of technologically advanced features such as WiFi enabled small bowel capsules featuring longer battery life are further expected to drive the demand for capsule endoscopy devices. Presence of favorable government initiatives are expected to play an imperative role in determining market trends over the forecast period. For instance, initiatives such as the DCPC’s National Comprehensive Cancer Control Program (NCCCP) in the U.S. aimed at increasing patient awareness levels pertaining to colorectal cancer screening is expected to boost usage rates during the forecast period.
With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.
Global capsule endoscopy market is expected to experience lucrative growth over the forecast period due to, the rising prevalence of gastrointestinal diseases, colorectal cancer, demand for faster and accurate diagnostics tools, and the presence of supportive government initiatives. Capsule endoscopy provides painless visualization of GI (gastrointestinal) tract images, transmitted via data recorder. Additionally, the introduction of technologically advanced capsules such as longer battery life and WiFi enabled are expected to further drive the growth of the capsule endoscopy market. The global capsule endoscopy market was valued at USD 454.7 million in 2014 and is expected to grow at a CAGR of 8.7% over the forecast period.
Increasing global geriatric population base is further expected to provide this market with a strong growth platform over the next seven years. Aging increases the risk of GI disorders such as CRC, inflammatory bowel disease, and appendicitis. According to the W.H.O, global population base pertaining to the age group – 65 years and above is expected to rise from 7% in 2000 to 16% in 2050. This is expected to significantly improve the patient base, thereby, driving the growth of the capsule endoscopy market.
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The capsule endoscopy market is analyzed by segmenting the market into small bowel capsule, esophageal capsule, and colon capsule. As of 2014, small bowel capsule held the largest market share, owing to its increasing usage in multiple medical conditions such as small bowel neoplastic lesions, inflammatory bowel disease, suspected Crohn’s disease and obscure GI tract bleeding. On the other hand, colon capsule segment is expected to register lucrative market growth over the forecast period. As stated by the CDC, every year colorectal cancer causes nearly 608,000 fatalities globally and over 14.5 million colonoscopies are performed. Additionally, growing demand for less invasive diagnosis platform are some key factors supporting the aforementioned conclusion.  
Further key findings from the study suggest:
·         Wireless capsules dominated the accessory market in 2014 and are also expected to register lucrative growth over the forecast period. Increasing usage rates of colon, small intestine and esophageal screening is expected to drive segment growth. In addition, presence of supportive reimbursement policies and the introduction of technologically advanced products are expected to serve this market as future growth opportunities.
·         Small bowel endoscopy capsule was the leading product segment of the market in 2014. These devices find wide applications in treating diseases such as suspected Crohn’s disease, inflammatory bowel disease, obscure GI tract bleeding and small bowel neoplastic lesions and this is expected to serve the segment as a high impact rendering driver. Increasing prevalence of target diseases is also expected to make significant contributions towards market growth.
·         Capsule endoscopy finds the largest application in OGIB (Obscure gastrointestinal bleeding) diagnosis owing to, increasing usage of wireless capsule endoscopes in vascular and inflammatory lesion diagnoses
·         North America was the largest regional capsule endoscopy market in 2014. The region’s market position is attributed to by factors such as presence of sophisticated healthcare infrastructure, supportive reimbursement policies and growing adoption rates of minimally invasive surgeries.
·         Asia Pacific region is anticipated to register rapid growth over the forecast period owing to, factors such as the presence of high unmet needs with respect to colorectal screening, rising disposable income and patient awareness levels and improving healthcare infrastructure
·         Key market players of the capsule endoscopy market include RF System lab, Olympus Corporation, Chongqing Jinshan Science & Technology (Group) Co., Given Imaging, Ltd., Fujifilm Holding Corporation, IntroMedic Co., Ltd and CapsoVision.
Wireless capsule was the leading application segment of the capsule endoscopy market in 2014. The increasing usage rate of wireless capsules in the small intestine, esophagus and colon and the presence of favorable reimbursement policies are some high impact rendering drivers of the wireless capsule endoscopy market. Technologically advanced capsules with inbuilt features such as 360-degree panoramic view, greater battery life, enhanced data storage capability, easy transmission and larger frame rate are expected to provide the wireless capsule market with lucrative future growth opportunities.
Obscure gastrointestinal bleeding (OGIB) was one of the leading application segments of the capsule endoscopy market in 2014. According to a research study conducted by the U.S. National Library of Medicine, capsule endoscopy was found to be more effective than barium X-rays used for investigation of OGIB. Capsule endoscopy is widely used for diagnosis of occult bleeding in the duodenum as well as the diagnosis of Crohn’s disease and small bowel tumors. Additionally, owing to the advantages attached such as real-time visualization of the entire small intestine and faster & easier diagnosis, healthcare professionals, and patients are shifting their preference from conventional methods such double balloon enteroscopy to capsule endoscopy, which is expected to provide substantial growth platform to this market segment in near future. Crohn’s disease application market being in sync with the OGIB segment is expected to experience growth due to increasing prevalence rate of target disease coupled with adoption as preferred diagnosis method.
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Grand View Research has segmented the global capsule endoscopy market on the basis of accessory, product, application:
Global Capsule Endoscopy Accessories Outlook (Revenue, USD Million, 2012 - 2022)
·         Wireless capsule
·         Workstation and receiver
Global Capsule Endoscopy Product Outlook (Revenue, USD Million, 2012 - 2022)
·         Small bowel
·         Esophageal
·         Colon
Global Capsule Endoscopy Application Outlook (Revenue, USD Million, 2012 - 2022)
·         OGIB
·         Crohn’s disease
·         Small Intestine tumor
·         Others (Celiac, NSAID reactions)
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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