Capsule Endoscopy Market To Witness Growth Based On Growing Demand For Precise & Accurate Diagnostic Tools 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.
Global capsule endoscopy market, by product, 2012 - 2022
(USD Million)
Browse full research report on Capsule
Endoscopy Market Analysis:
Further key findings from the report 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.
For more information: http://www.grandviewresearch.com
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