Capsule Endoscopy Market Opportunity Assessment, Market Challenges, Vendor landscape by 2027

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Rising demand for noninvasive screening methods worldwide is likely to deliver substantial growth opportunities to improve Capsule Endoscopy market share for industry players in the near future.

According to The Insight Partners market research titled 'Capsule Endoscopy Market to 2027 - Global Analysis and Forecasts by Product, Application, and End User'. The global capsule endoscopy market is expected to reach US$ 697.29 Mn in 2027 from US$ 368.65 Mn in 2019. The market is projected to grow with a CAGR of 8.3% from 2020-2027. The report provides trends prevailing in the global capsule endoscopy market along with market drivers and restraints.

The global capsule endoscopy market, based on the product, is segmented as capsule endoscopes and components. Capsule endoscopes are further divided into colonic capsule, bowel capsule, and esophageal capsule. Component is further sub segmented into workstation market, image receiver, recorder market and others. In 2019, the capsule endoscopes segment accounted for the largest market share in the global capsule endoscopy market by product. Capsule endoscopes play a vital role in effective and safe diagnosis of gastrointestinal disorders, hence the segment is anticipated to grow at a significant rate during the forecast period.

Major factors boosting the growth of market include increasing gastrointestinal disorders globally and increasing demand of noninvasive screening methods. However, limitation associated with the capsule endoscopy is hampering growth of the market to a certain extent.

The report segments global capsule endoscopy market as follows:

Global Capsule Endoscopy Market - By Product

Capsule Endoscopes

Colonic Capsule
Bowel Capsule
Esophageal Capsule

Components

Workstation Market
Image Receiver
Recorder Market

Others Market

Global Capsule Endoscopy Market - By Application

Obscure Gastrointestinal Bleeding (OGIB)
Crohn’s Disease
Small Bowel Diseases
Other Diseases

Global Capsule Endoscopy Market - By Application

Hospitals
Clinics
Research Centers
Other End Users

The capsule endoscopy market majorly consists of players such as Olympus Corporation, CapsoVision, Medtronic and IntroMedic. Several companies in the market are concentrating on inorganic strategies, such as partnership for enhancing their position in the market. For instance, in June 2018, CapsoVision announced distribution partnership with Pentax Medical. PENTAX Medical will directly sale CapsoCam Plus and CapsoCloud across the U.S. The strategic step was taken by the company with an aim to strengthen its distribution channel in US.