Capsule Endoscopy Market Analysis

Capsule Endoscopy Market Analysis

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Based on products, the capsule endoscopy market is categorized into capsule endoscopes and systems. The capsule endoscopes system is expected to grow at 9.1% CAGR by 2032. This high market growth is owing to several clinical benefits offered by capsule endoscopes in diagnosis and treatment of several chronic ailments. Capsule endoscopes provides a comprehensive visualization of the entire small intestine.
 

Furthermore, technological advancements pertaining to capsule endoscopes such as high image quality, extended battery life and software algorithms have increased the product adoption rate. Capsule endoscopes utilize advanced imaging technologies to capture high-resolution images of the GI tract. These images provide detailed visual information to healthcare professionals for accurate diagnosis and evaluation of conditions such as ulcers, bleeding, tumours, polyps, and inflammatory bowel disease.
 

Based on application, the capsule endoscopy market is divided into obscure gastrointestinal bleeding (OGIB), Crohn’s disease, small intestine tumour and others. Obscure gastrointestinal bleeding (OGIB) is expected to grow reach USD 744.7 million by 2032. This high market share is due increasing prevalence of gastrointestinal bleeding among adult and geriatric population base thereby increasing the adoption of capsule endoscopes.
 

For instance, according to an article published by the American Gastroenterological Association, in 2021, around 311,000 people in the U.S. were estimated to suffer from gastrointestinal bleeding. Capsule endoscopy provides enhanced visualization of the small intestine, which is often the source of OGIB. These devices enable the detection of various lesions and abnormalities that can cause OGIB, such as angiodysplasia, ulcers, tumours, or vascular malformations. Moreover, capsule endoscopy can be used to assess the effectiveness of treatment interventions for OGIB.
 

Based on end-use, the capsule endoscopy market is segmented as hospitals, ambulatory surgical centers, and others. Hospital’s segment held over 48% market share in 2022 and is projected to grow at a robust pace by 2030. This dominant market share is attributed to the increasing use of advanced capsule endoscopy in hospitals, that are projected to increase patient preference for hospitals.
 

Increasing hospitalizations due to medical abnormalities pertaining to gastrointestinal disorders, cancer and other chronic conditions will further augment the market growth. Increasing number of disease screening tests coupled with the availability of highly skilled healthcare professionals are some other attributes that are propelling the growth of the hospitals segment positively. Moreover, the robust healthcare infrastructure and appropriate patient assistance is anticipated to positively impact the segment growth.
 

North America capsule endoscopy marketshare is expected to grow at 8.9% CAGR by 2032. This high market share may be ascribed to a variety of factors, including the presence of significant industry players, an increase in the number of patients suffering from GI disorders, an expanding elderly population, among others. Stomach cancer is one of the leading causes of abdominal pain that leads to capsule endoscopy and is increasingly prevailing among U.S. population.
 

For instance, according to the reports published by the American Cancer Society, in 2021, over 26,000 new stomach cancer patients were reported in the U.S. accounting for more than 11,000 deaths. Moreover, stomach cancer accounts for about 1.5% of all new cancers diagnosed in the U.S. each year. Thus, capsule endoscopy procedures have been significantly rising in the U.S. over the past few years. Presence of prominent market players are engaged in new product development & commercialization leading to overall market growth.