The development of capsule endoscopy in 2001 has given gastroenterologists the opportunity to examine the gastrointestinal tract in a non-invasive manner. Capsule endoscopy is a digital healthcare technology that can be utilized to detect gastrointestinal disorders such as gastroparesis, esophageal disease, gastrointestinal bleeding, and colon related diseases, followed by Crohn’s disease and polyposis syndrome. Capsule endoscopy has revolutionized the diagnosis of various parts of the GI system in a very simple manner. Medical professional can gain edge in observing the various parameters of gastrointestinal tract such as temperature, pressure, and pH with the help of capsule endoscopes. Capsule endoscopy is an emerging technology that clutches huge potential in medical diagnostics. The existing wireless capsule endoscopes does not have the ability to treat pathologies related to the gastrointestinal tract. Realizing this, trials are being conducted for exploring direct delivery of the drug to the target pathogens such as ulcers or tumors through capsule endoscopes. A capsule endoscope system consists of wireless video capsule, sensor array or a sensor belt, data recorder, and workstation with the software.

Although there are options are available in the market such as IntelliCap by Philips Electronics, and Enterion capsule by Phaeton Research (these systems are capable of delivering drug up to 1ml to a region in GI tract like colon, ileum, and jejunum), these systems do not deliver drug at the target areas like ulcer or tumors. Recently the FDA approved the first drug Abilify Mycite, which tracks ingestion of medication by the patient and physician can monitor this activity on their phone. The system includes a sensor which transmits the information to a wearable patch.

This study titled ‘Capsule Endoscopes Diagnostics Market - Growth, Future Prospects, and Competitive Analysis, 2021 – 2029’ states a comprehensive analysis offering company executives, investors, industry participants, and developers to take strategic initiatives and verdicts related to the scenarios in the global capsule endoscopes diagnostics market. This report explains and analyzes the major trends dominant in the global capsule endoscopes diagnostics market and the market size and forecast.

This scope of the report comprises segments in form of diseases of gastrointestinal tract and geographical distribution. The segments further are categorized into polyp’s detection, crohn's disease diagnosis, ulcers monitoring, celiac detection, tumors of small intestine, occult gastrointestinal bleeding, and diverticulosis detection, and others. Forecast and market size is performed for the mentioned segments for the duration 2019-2029 alongside CAGRs for the duration 2021-2029.

The detailed description of above mentioned geographical market is covered for the duration 2019-2029, the report also comprises the CAGRs for the duration 2021-2029, which is further classified on the basis of usage area and at country level market.

An in-depth analysis is done related to the market dynamics such as drivers, restrains, and opportunities are presented in the report, which clarifies the currents trends in the market. Various tools have been used for demonstrating the competitive landscape and potential value of the market. Company profiling is also done for the major players who hold the strong position in the market. Some of the major players in global capsule endoscopes diagnostics market are CapsoVision, Inc., Check-Cap Ltd., Given Imaging Ltd., IntroMedic Co., Ltd., Chongqing Jinshan Science & Technology (Group) Co., Ltd., Olympus Corporation, RF Co., Ltd., Philips Healthcare, Smartpill, Inc., Siemens Healthcare, Stryker Corporation and more.

At present, gastrointestinal diseases are a source of considerable mortality, cost, and morbidity in the United States. According to the National Institute of Diabetes and Digestive and Kidney Disease (NIDDK) statics, 60-70 million people in U.S. are affected by gastrointestinal disease annually. Data from 2004, an estimated 72 million ambulatory center visits, 4.6 million hospitalizations, and 236,000 deaths occurred from gastrointestinal diseases. Capsule endoscopes diagnostics market is strongly supported by technological advancement. Growing life expectancy is also one of the main factors which helps in boosting the capsule endoscopes diagnostics market.

Since its discovery in the year 2000, capsule endoscopes are replacements to ancient endoscopes, with the benefit of non-invasive method to examine the gastrointestinal tract. Increase in the prevalence of diseases related to gastrointestinal tract/digestive system and growth in demand for non-invasive procedures is boosting the growth of capsule endoscopes diagnostics market. Growing healthcare sector and technological advancement are the other drivers for this market.

Among the considered research areas, capsule endoscopes enjoy the largest application in hospitals followed by ambulatory centers. Higher affordability of hospitals in terms of purchase of capsule endoscopes, advantage of minimal or non-invasive procedure and increase in the number of patients visiting hospitals for diagnosis, treatment and management of GI diseases are the major factors facilitating the adoption of capsule endoscopes in hospitals. It is further expected that due to increasing preference of patients for approaching specialized private clinics for requirements due to faster turnaround times and better treatment outcomes, the demand for capsule endoscopes from private clinics will be higher during the forecast period. Additionally, capsule endoscopy is a new introduction in the endoscopy field, extensive research and study being performed to boost the application of capsule endoscopes.  

Geographically, the global capsule endoscopes diagnostics market is cumulative to Europe, Asia Pacific, North America, Middle East and Africa and Middle East & Africa, and Latin America.

In 2020, North America & Europe have accounted for the major share in global capsule endoscopes diagnostics market, tailed by Asia Pacific, due to main driving reasons such as rising prevalence of gastrointestinal diseases and supportive reimbursement policies. According to the estimates of the American Cancer Society, about 50,260 deaths are predicted to be caused in 2021 by colorectal cancer, which is the third leading cause of death in the United States. Capsule endoscopes diagnosis is fully secure and non-invasive, serving the growing demand for non-invasive diagnosis procedures is expected to increase in the near future. During forecast period 2021 – 2029, Asia Pacific is estimated to be the fastest growing region due to key driving factors such as rising prevalence of GI disease in developing countries, increasing awareness associated with early GI disease diagnosis, developing healthcare infrastructure, and mounting demand for the non-invasive procedure.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Capsule Endoscopes Diagnostics market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Capsule Endoscopes Diagnostics market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Capsule Endoscopes Diagnostics market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Capsule Endoscopes Diagnostics market?
• Which is the largest regional market for Capsule Endoscopes Diagnostics market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Capsule Endoscopes Diagnostics market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Capsule Endoscopes Diagnostics market worldwide?