Capsule Endoscopy Market Is Projected To Grow Due To Increasing Global Geriatric Population Till 2022: Grand View Research, Inc.
Global Capsule Endoscopy market is expected to reach USD 886.3 million by
2022; according to a new study by Grand View Research, Inc. Increasing
prevalence of colorectal cancer, GI diseases and growing demand for precise and
accurate diagnostic tools are expected to drive the capsule endoscopy market
over the forecast period. According to a report published by the World Cancer
Research Institute, about 54.0% of colorectal cancer cases occurred in
developed countries and the number is expected to grow exponentially over the
decade.
The introduction of technologically advanced features such as WiFi
enabled small bowel capsules featuring longer battery life are further expected
to drive the demand for capsule endoscopy devices. Presence of favorable
government initiatives are expected to play an imperative role in determining
market trends over the forecast period. For instance, initiatives such as the
DCPC’s National Comprehensive Cancer Control Program (NCCCP) in the U.S. aimed
at increasing patient awareness levels pertaining to colorectal cancer
screening is expected to boost usage rates during the forecast period.
Browse full research report on Capsule Endoscopy Market: http://www.grandviewresearch.com/industry-analysis/capsule-endoscopes-market
Further key findings from
the study suggest:
- Wireless capsules dominated the accessory market in
2014 and are also expected to register lucrative growth over the forecast
period. Increasing usage rates of colon, small intestine and esophageal
screening is expected to drive segment growth. In addition, presence of
supportive reimbursement policies and the introduction of technologically
advanced products are expected to serve this market as future growth
opportunities.
- Small bowel endoscopy capsule was the leading product
segment of the market in 2014. These devices find wide applications in
treating diseases such as suspected Crohn’s disease, inflammatory bowel
disease, obscure GI tract bleeding and small bowel neoplastic lesions and
this is expected to serve the segment as a high impact rendering driver.
Increasing prevalence of target diseases is also expected to make
significant contributions towards market growth.
- Capsule endoscopy finds the largest application in
OGIB (Obscure gastrointestinal bleeding) diagnosis owing to, increasing
usage of wireless capsule endoscopes in vascular and inflammatory lesion
diagnoses
- North America was the largest regional capsule
endoscopy market in 2014. The region’s market position is attributed to by
factors such as presence of sophisticated healthcare infrastructure,
supportive reimbursement policies and growing adoption rates of minimally
invasive surgeries.
- Asia Pacific region is anticipated to register rapid
growth over the forecast period owing to, factors such as the presence of
high unmet needs with respect to colorectal screening, rising disposable
income and patient awareness levels and improving healthcare
infrastructure
- Key market players of the capsule endoscopy market
include RF System lab, Olympus Corporation, Chongqing Jinshan Science
& Technology (Group) Co., Given Imaging, Ltd., Fujifilm Holding
Corporation, IntroMedic Co., Ltd and CapsoVision.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/medical-devices
For the purpose of this study, Grand View Research has
segmented the global capsule endoscopy market on the basis of accessory,
product, application and region:
- Global
Capsule Endoscopy Accessories Outlook (Revenue, USD Million, 2012 - 2022)
- Wireless
capsule
- Workstation
and receiver
- Global
Capsule Endoscopy Product Outlook (Revenue, USD Million, 2012 - 2022)
- Small
bowel
- Esophageal
- Colon
- Global
Capsule Endoscopy Application Outlook (Revenue, USD Million, 2012 - 2022)
- OGIB
- Crohn’s
disease
- Small
Intestine tumor
- Others
(Celiac, NSAID reactions)
- Capsule
Endoscopy Regional Outlook (Revenue, USD Million, 2014 - 2022)
- North
America
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia
Pacific
- China
- Japan
- Latin
America
- Mexico
- Brazil
- MEA
- South
Africa
Access Press Release
By Grand View Research: http://www.grandviewresearch.com/press-release/global-capsule-endoscopy-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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