Global Capsule
Endoscopy Market report delivers future
development strategies, key companies, Possibility of competition, major
challenges analysis. The reports elaborate the expansion rate of the Capsule
Endoscopy market supported the highest company profile analysis. This report
providing an in-depth analysis, market size, and evaluation for the developing
segment among the Capsule Endoscopy market. Capsule Endoscopy Market report
will help you take expert decisions, recognize opportunities, plan effective
professional tactics, plan new schemes, analyse drivers and restraints and give
you a vision on the Capsule Endoscopy Market forecast.
Industry Insights
The global Capsule Endoscopy (CE) market size was valued at USD 454.7
million in 2014 and is expected to grow at a CAGR of 8.7% in coming years. The
market is driven by the factors such as rising incidences of gastrointestinal
(GI) diseases, the presence of supportive government initiatives, demand for
faster and accurate diagnostics tools for colorectal cancer. CE technique gives
pain-free visualization of GI tract images, transmitted through data recorder.
Moreover, the introduction of innovatively advanced capsules having a longer
battery life and Wi-Fi enabled are anticipated to add to the revenue growth.
With aging, the risk of GI disorders increases. Thereby, expanding
worldwide geriatric population is additionally offer with a firm growth
platform. As per the W.H.O, global population base relating to the age group –
65 years and or more is relied upon to ascend from 7% in 2000 to 16% in 2050.
This is anticipated to enhance the patient base hence, augmenting the
development.
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Key Questions Answered
·
What are the sales or revenue produced
by Capsule Endoscopy products beyond all sectors during the forecast
period?
·
What are the key trends in the Capsule
Endoscopy market?
·
What are the leading drivers, limitations,
and probabilities in the industry?
·
Which segment will gain the
highest revenue worldwide and which product segment will expand at the fastest
CAGR during the forecast period?
·
In which region the Capsule
Endoscopy market to project lucrative CAGR during the forecast period?
Product Insights
The market is segmented into colon capsule, esophageal capsule and small
bowel capsule. As of 2014, the largest share was held by small bowel capsule
attributable to its expanding utilization in various multiple conditions such
as obscure GI tract bleeding, inflammatory bowel disease, small bowel
neoplastic lesions and Crohn’s disease. On the other hand, colon capsule
segment is anticipated to exhibit strong development over the forecast period.
According to CDC, each year 608,000 fatalities are caused by colorectal cancer.
Every year more than 14.5 million colonoscopies are performed. Moreover, rising
demand for less invasive diagnosis platform is a key factor assuring the
aforementioned conclusion.
Accessories Insights
In 2014, wireless capsule held the leading position amongst the various
application segments. The expanding utilization rate of wireless capsules in
the colon, esophagus and small intestine and the presence of conducive
reimbursement policies are some major drivers for this segment. Technologically
enhanced capsules with inbuilt components, such as 360-degree panoramic view,
easy transmission, enhanced data storage capability, larger frame rate and
greater battery life are further providing this segment with lucrative growth
opportunities.
Application Insights
Leading application segments in 2014 was oscure gastrointestinal
bleeding (OGIB). As per the research study of the U.S. National Library of
Medicine, CE was found to be more effective as compared to barium X-rays used
for examination of OGIB. This technique is utilized for diagnosis of occult
bleeding in the duodenum and also for the diagnosis of small bowel tumors and
Crohn’s disease. Furthermore, additional advantages such as faster and easier
diagnosis and real-time visualization of the whole small intestine, patients
and healthcare professionals, are moving their inclination from conventional
methods (i.e. double balloon enteroscopy) to CE. This fact is projected to
establish healthy platform for the development of this segment over the
forecast period. Crohn’s disease application market is expected to experience
significant growth because of increasing prevalence this disease together with
adoption of CE technique as preferred diagnosis method.
Regional Insights
The largest regional market in 2014 was North America. Rising incidence
of colorectal cancer & GI disorders combined with enhanced healthcare
infrastructure, presence of conducive reimbursement policies and growing
adoption of invasive capsule endoscopy are a few components estimated to drive
regional market growth. Asia-Pacific market is considered to grow at a highest
growth rate due to rising patient awareness levels, disposable income,
advancing healthcare infrastructure and huge presence of untapped opportunities
pertaining to cancer screening.
Competitive Insights
The global market is characterized by the presence of companies such as
CapsoVision, Chongqing Jinshan Science & Technology (Group) Co., Ltd,
Fujifilm Holding Corporation, Given Imaging, IntroMedic Co., Ltd., Olympus
Corporation and RF System lab. Novel product advancement aimed at augmenting
application base is recognized as one of the most feasible sustainability
policies embraced by the producers of CE devices. Furthermore, the use of
magnetic & hybrid capsules permitting enhanced control and better imaging
are some of the ongoing research elements, expected to spur market growth and
reinforce competition over the future period.
Know
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