According to the latest report published by Credence Research, Inc. “Capsule Endoscopes Diagnostics Market – Growth, Future Prospects and Competitive Analysis, 2017-2025,” the global capsule endoscopes diagnostics market was valued at US$ 234 Mn in 2016, and is expected to reach US$ 785 Mn by 2025, expanding at a CAGR of 14.45% from 2017 to 2025.
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Market Insights
Capsule endoscope is an ingestible capsule which measures pH, temperature, and pressure as it passes to the gastrointestinal tract to access GI reaction; they also capture and deliver images of GI tract to the receiver or data belt, which physicians can view on their phone or computer for examination purpose. Physicians can accomplish the monitoring tests for reaction to assess motility disorders like prolonged constipation and gastroparesis.
The patient’s downtime can also be minimized by the use of capsule endoscopy and patients can resume their normal daily activities, while the capsule can collect imaging data. Radiation exposure can also be eradicated by using capsule endoscopes and complete transit profile of the GI tract can be provided with motility test. According to the American Cancer Society, the number of new cases of colorectal cancer cases reported in the U.S. for 2017 are: 95,520 and 39,910 new cases of rectal cancer. The third leading cause of deaths in women in the United States is related to colorectal cancer, and second leading in men. About 50,260 deaths are projected to be caused in 2017 by colorectal cancer. Accordingly, an expansive patient base of gastrointestinal disease needs demand adequate diagnosis and observing. Some factors such as obesity, aging population and their sensitivity in GI tract, and increasing demand for non-invasive procedures will boost the demand for capsule endoscopy in the coming time, which has led to the growth in the capsule endoscopes diagnostics market.
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Furthermore, the global capsule endoscopes diagnostics market is categorized into the polyposis syndrome, Crohn’s disease, ulcers, celiac disease, and tumors of the small intestine, diverticulum and more. Rising incidence of gastrointestinal diseases, better patience consciousness, increasing geriatric population worldwide, technological advancement, and rise in disposable incomes in the emerging countries would further boost the adoption of capsule endoscopes.
Geographically, the global capsule endoscopes diagnostics market is studied for Europe, North America, Latin America, Middle East & Africa, and Asia Pacific. In terms of revenue share, North America currently leads the global market and is expected that the scenario will remain constant during the forecast period. However, the supremacy of North America will be conspicuously challenged by Asia Pacific market. The demand for progressive capsule endoscopy has augmented in Asia Pacific due to growth in the proliferation of healthcare infrastructure, healthcare expenditure, and disposable income. There are great opportunities for market penetration in countries like Mexico, Brazil, Mexico, India, and China to the major companies already having a grip in developed regions.
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