Capsule Endoscopy Market by Component (Capsule Endoscope, Work Stations and Recorders), Accessory (Wireless Capsule, Workstations & Recorders), Disease Type (Small Intestine Disorder, Esophageal Disorder, Colonic Disorder) - Global Opportunity Analys

"Market Definition:
The Global Capsule Endoscopy Market size was valued at USD 687.14 million in 2019 and is estimated to garner USD 1,975.68 million by 2030, expanding at a CAGR of 9.2% during the forecast period, from 2020 to 2030.
Capsule endoscopy is a non-invasive diagnostic medical procedure, used for comprehensive examination of gastrointestinal tract, detecting celiac disease, obscure gastrointestinal bleeding, polyps, small intestine tumors, inflammatory bowel diseases, appendicitis, colorectum diseases and other gastrointestinal diseases that weaken the digestive system. Capsule endoscopy system includes a data recorder, sensors, work station and software that are integrated to a wireless video capsule embedded with a battery, camera, transmitter and light source.
The video capsules are similar to pharmaceutical capsules, but are larger in size. Once it is swallowed by the patient, it passes through the gastrointestinal tract, while recording images that are transmitted to a data recording device that is carried by the patient, before disposing it off naturally. The data recording device can also locate the position of the capsule in the gastrointestinal tract. The images collected by the device are processed and used for intervention. Advancements in technologies have enabled the capsules to take biopsies and release medication at the affected spot in the gastrointestinal tract.
Market Dynamics and Trends:
According to the World Health Organization, there were nearly 1.8 million cases of colorectal cancer at globally, in 2018. Besides, cancer being the leading cause of death world-wide, it claimed the lives of 9.6 million in 2018, of which 9.2% i.e. 880,792 deaths resulted due to colorectal cancer. This scenario leads to the high demand for gastrointestinal diagnostic devices and escalation of capsule endoscopy market during the forecast period. Moreover, factors such as higher prevalence of gastrointestinal diseases, increasing geriatric population, development in medical technologies and advancements in healthcare infrastructures are expected to propagate the growth of global capsule endoscopy market. Benefits offered by capsule endoscopy such as ease of diagnostic, minimally-invasive procedures, convenience & comfort to the patients and quick diagnostic results, are propelling the growth of the market. However, high-cost of capsule endoscopy systems, risk associated with the procedure, and lack of skilled professionals are expected to hamper the market. On the other hand, growing demand for fast & accurate diagnostics tools, increasing government initiatives for the development of treatment technologies, and improvements in healthcare infrastructures are creating lucrative opportunities for the global capsule endoscopy market.
Market Segmentations and Scope of the Study:
The capsule endoscopy market is segmented based on component, disease type, and geography. On the basis of component, the market is segregated into capsule endoscope and workstations and recorders. In terms of disease type, the market is divided into small intestine disorder, esophageal disorder, and colonic disorder. On the basis of geography, the market is classified as North America, Europe, Asia-Pacific, and Rest of World (RoW).
Geographical Analysis:
North America is anticipated to dominate the global capsule endoscopy market during the forecast period due to the high prevalence of gastrointestinal diseases, well-established healthcare facility, advancements in product technology, and presence of key market players in the region.
The market in Asia-Pacific is expected to grow during the forecast period due to the presence of a large population, untapped opportunities offered by emerging economies, growing number of mergers and acquisitions in the capsule endoscopy market in this region.

Competitive Landscape

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Key players in the market include Given Imaging, Olympus Corporation, IntroMedic Co., Ltd., Chongqing Jinshan Science & Technology Co., Ltd, Fujifilm Holding Corporation, CapsoVision, and RF System lab.
For instance, in December 2019, Fujifilm acquired Hitachi’s Diagnostic Imaging-related Business, for approximately USD 1.63 billion. This acquisition helped Fujifilm Holding Corporation expand its Healthcare business by reinforcing the value of the latter’s medical equipment with its own image processing, AI technology, and sales strategy from its REiLI brand. The former aims at providing new values and solutions to the global market by leveraging its strong global sales network.
KEY MARKET SEGMENTS:
• Global Capsule Endoscopy System Market - By Component
o Capsule endoscope
o Workstations and Recorders
• Global Capsule Endoscopy System Market - By Disease Type
o Small Intestine Disorder
o Esophageal Disorder
o Colonic Disorder
• Global Capsule Endoscopy System Market - By Geography
o North America
 U.S.
 Canada
 Mexico
o Europe
 UK
 Germany
 France
 Italy
 Rest of Europe
o Asia-Pacific
 China
 India
 Japan
 Australia
 Rest of Asia-Pacific
o RoW
 UAE
 Saudi Arabia
 South Africa
 Brazil
 Remaining Countries
KEY PLAYERS:
• Given Imaging
• Olympus Corporation
• IntroMedic Co., Ltd.
• Chongqing Jinshan Science & Technology Co., Ltd
• Fujifilm Holding Corporation
• CapsoVision
• RF System lab"