Capsule Endoscopy Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Capsule Endoscopy Market covers analysis By Product (Endoscopy Capsule and Components), Formulation (Tablets and Capsules), Application [Obscure Gastrointestinal Bleeding (OGIB), Crohn’s Disease, Small Bowel Diseases, and Other Diseases], and End Users (Hospitals, Clinics, Research Centers, and Other End Users), and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Apr 2024

  • Report Code : TIPRE00006873
  • Category : Medical Device
  • Status : Upcoming
  • No. of Pages : 178
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The global capsule endoscopy market is expected to grow from US$ 465.72 million in 2022 to US$ 757.51 million by 2028; it is estimated to grow at a CAGR of 8.4% from 2022 to 2028.

According to The Korean Society of Neurogastroenterology and Motility report, functional gastrointestinal disorders (FGIDs) are a group of gastrointestinal disorders (GI) involving various combinations of chronic or recurrent gastrointestinal (GI) symptoms or biochemical abnormalities. The rising prevalence of gastrointestinal disorders is driving the overall capsule endoscopy market growth. Capsule endoscopy (CE) is also utilized for detecting small-bowel disease obscure gastrointestinal bleeding, celiac disease, Crohn's disease, small-bowel tumors, and other diseases. Functional dyspepsia (FD) and irritable bowel syndrome (IBS) are the most widely recognized FGIDs. Additionally, the demand for capsule endoscopy is high in cases related to the GI tract as capsule endoscopy involves the diagnosis of obscure GI bleeding and chronic iron-deficiency anemia, small bowel tumors, and assessment of treatment outcomes of celiac and Crohn's disease. Also, capsule endoscopy is highly equipped for screening celiac disease (CD). Celiac disease is a serious genetic autoimmune disease that damages the small intestine's villi and interferes with the absorption of nutrients from food. The Beyond Celiac 2022 report states that approximately 1 in 133 Americans, or ~1% of the population, have celiac disease. Additionally, in Finland, the prevalence of the celiac disease is ~1.99% among the total population. Further, capsule endoscopy is highly considered when clinical symptoms are highly suspicious and related to celiac disease. For example, CE modifying the clinical course, particularly in cases with positive serology at the baseline and the capsule endoscopy procedure, is considered safe and useful and plays a critical role in misleading diagnosis for CD. Therefore, the influx of capsule endoscopy for gastrointestinal disorders is expected to fuel the overall market growth during the forecast period.

Technological advancements in capsule endoscopy are supporting the overall market growth. The influx of video capsule endoscopy (VCE) is attributed to the continued technological advancements in imaging. Further, AI-encompassed VCE involves the diagnosis of tumors, gastrointestinal bleeding, Crohn's disease, and celiac disease. Also, advancements in the imaging of VCE involve hardware and software improvements with advancements in components of capsules involving the camera, power source, and transmission unit. Software improvement such as the advent of AI in VCE is expected to expand the reach of VCE in the field of optical biopsy, becoming a clinical reality. Therefore, the advent of technology enhances the overall capsule endoscopy market growth during the forecast period.

Strategic Insights

Regional Overview

North America accounts for the largest share of the capsule endoscopy market, with the US being the major contributor to the market growth. New product approval by the Food & Drug Administration (FDA) is a standalone factor responsible for the significant growth of the overall capsule endoscopy market. For instance, in November 2021, Medtronic announced receiving clearance for “PillCam Small Bowel 3 system” by the FDA intended for a remote endoscopy procedure. The newly launched product offers a telehealth option for direct visualization and monitoring of the small bowel that help detect lesions in the lower endoscope (indicates Crohn's disease, detect obscure bleeding, and other GI disorders). Thus, the aforementioned factors are likely to propel the market growth in North America in the coming years.

Product Insights

Based on product, the capsule endoscopy market is bifurcated into endoscopy capsule and components. The endoscopy capsule segment held a larger share of the market in 2022. The growth of the segment is attributed to the advantages associated with the endoscopy capsule for the diagnosis and detection of complex health conditions involving GI disorders, cancer, Crohn's disease, and other small bowel disorders. Capsule endoscopy can detect Crohn's disease through mucosal inflammation, disease extension, and strictures. Also, capsule endoscopy can detect disease in the terminal ileum with 100% image quality compared to other technologies such as computed tomography (CT) or magnetic resonance heterography. Therefore, capsule endoscopy is highly recommended in patients with known, suspected, or relapsed Crohn's disease. Such lucrative benefits offered by endoscopy capsule intended for complex health conditions such as Crohn’s disease are supporting the segment growth.

Capsule Endoscopy Market, by Product – 2022 and 2028

Capsule Endoscopy Market, by Product – 2022 and 2028

Companies operating in the capsule endoscopy market adopt product innovation strategies to meet the evolving demands across the world, allowing them to maintain their brand name in the market.

Capsule Endoscopy Market – Segmentation

Based on product, the capsule endoscopy market is bifurcated into endoscopy capsule and components. The endoscopy capsule segment held a larger share of the market in 2022. Based on formulation, the capsule endoscopy market is bifurcated into tablets and capsules. The capsule segment held a larger share of the market in 2022. Based on application, the capsule endoscopy market is segmented into obscure gastrointestinal bleeding (OGIB), Crohn's disease, small bowel diseases, and other diseases. Based on end user, the market is segmented into hospitals, clinics, research centers, and other end users. The hospitals held the largest share of the market in 2022. Based on geography, the market is primarily segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.

Company Profiles

  • RF Co.,Ltd.
  • JINSHAN Science & Technology
  • SHANGXIAN MINIMAL INVASIVE INC
  • CapsoVision
  • Check-Cap.
  • INTROMEDIC
  • Medtronic
  • Olympus Corporation
  • Anhan Technology (Wuhan) Co., Ltd.

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REGIONAL FRAMEWORK
World Geography

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product, Formulation, Application, and End Users

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What is capsule endoscopy?

Capsule endoscopes are tiny wireless endoscopy systems which are used to capture images of the internal tracts in the body. The endoscope camera fits in the vitamin size capsule and enables to take thousands of images which are then transmitted to the recorder. Capsule endoscopes allows the physicians to take the images of the parts where the traditional endoscope is unable to reach.

What are the factors driving the growth of the capsule endoscopy market?

The demand for noninvasive screening method for inspection of gastrointestinal tract is expected to grow at a significant pace during the forecast period. Some of the prime factors propelling the growth of the market include increasing prevalence of small bowel diseases and technological advancements in endoscopy are propelling the growth of the market.

What are the complications associated with the use of capsule endoscopy?

Despite accuracy, speed, safety, high resolutions, non-invasiveness factors such as lack of guided navigation and less battery life are among the major limitations associated with these systems.

The List of Companies - Capsule Endoscopy Market

  1. RF Co.,Ltd
  2. JINSHAN Science & Technology
  3. Shangxian Minimal Invasive Inc.
  4. CapsoVision, Inc.
  5. Check-Cap
  6. IntroMedic Co.,Ltd.
  7. Medtronic
  8. Olympus Corporation

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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