Global Colon Capsule Endoscopy Market Size, Share, and COVID-19 Impact Analysis, By Product (Small Bowel, Esophageal, Colon, Wireless Capsules), By Application (OGIB, Crohn’s Disease, Small Intestine tumor & Others), By End-Use (Hospitals, Ambulatory Surgery Centers & Others), and by Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) Analysis and Forecast 2022-2028

KEY MARKET INSIGHTS

The colon capsule endoscopy market was valued at USD 465.5 Mn in 2021. The market is projected to grow USD 939.5 Mn in 2028, at a CAGR of 8.7%. Capsule endoscopy is a treatment that involves taking photographs of the digestive tract with a small wireless camera. A capsule endoscopy camera is contained within a vitamin-sized capsule that is swallowed. The camera in the capsule collects thousands of photographs as it goes through the digestive tract and transfers to a recorder wearing a belt around the waist. Capsule endoscopy allows doctors to look inside your small intestine, which is difficult to reach with standard endoscopy. Endoscopy is a procedure in which a long, flexible tube with a video camera is sent down your throat or through your rectum. The rising prevalence of cancer, the growing global elderly population, the rising need for less invasive diagnostic methods, and the development of technologically sophisticated capsules are all driving the market forward. Furthermore, rising healthcare expenditure levels are driving the demand for effective cancer diagnostic procedures, as well as supportive government initiatives, which are projected to drive market expansion.

COVID-19 ANALYSIS

The global colon capsule endoscopy market is negatively impacted with the outbreak of COVID-19. During the COVID-19 epidemic, the number of elective procedures conducted was postponed, delayed, cancelled, and reduced, which had a substantial influence on the market. Furthermore, disruptions in the supply chain, as well as shifting laws around surgical interventions and endoscopic screening methods, have hampered the growth of the capsule endoscopy market during the pandemic.

LATEST TREND

Emergence of Colon Capsule Endoscopy in Hospitals

The rising prevalence of cancer, the growing global elderly population, the rising need for less invasive diagnostic methods, and the development of technologically sophisticated capsules are all driving the market forward. Furthermore, rising healthcare expenditure levels are driving the demand for effective cancer diagnostic procedures, as well as supportive government initiatives, which are projected to drive market expansion.

DRIVING FACTORS

Rising Number of Colon Capsule Endoscopy in Hospitals

Because it is the most often utilized topology in switch-mode power supply for small power supply applications, colon capsule endoscopy is becoming more popular in hospitals. Because of its low power losses, switch-mode power supplies have a significant benefit in terms of efficiency. Flyback transformers were previously utilized in CRT OGIBs to offer an uninterrupted power supply from a consistent and stable power source. Flyback transformers provide a consistent power supply, which protects electronic gadgets from harm. As a result, increased colon capsule endoscopy utilization in consumer electronic applications is expected to propel the market forward throughout the forecast period.

Growing Number of Geriatric Population Among the World

The growing elderly population is expected to create a strong growth platform for this industry in the approaching years. Inflammatory bowel illness, Crohn's disease, colorectal cancer, and appendicitis are all much more common as people get older. In addition, the rising prevalence of cancer in both older and younger persons in recent years, as well as the increasing acceptance of screening tests, such as capsule endoscopy for diagnosis, is expected to drive market growth. According to Cancer.Net, roughly 149,500 adults in the United States will be diagnosed with colorectal cancer this year, according to estimates. This rising prevalence portends a rapid expansion of the market.

RESTRAINTS

Concerns Pertaining Power Consumption and Technical Issues May Hinder the Market Growth

High cost of colon capsule endoscopy transformers and sensors is hindering the growth of the global colon capsule endoscopy market. The high power consumption and vulnerable to surface contaminants is limiting the growth of the global colon capsule endoscopy market.

SEGMENTATION

The global colon capsule endoscopy market is segmented by Product (Small Bowel, Esophageal, Colon, Wireless Capsules), By Application (OGIB, Crohn’s Disease, Small Intestine tumor & Others), By End-Use (Hospitals, Ambulatory Surgery Centers & Others) and region. Based on the Product, the market is categorized into small bowel, esophageal, colon, wireless capsules. Based on application, the market is categorized into OGIB, crohn’s disease, small intestine tumor & others. Based on End-Use, the market is categorized into hospitals, ambulatory surgery centers & others. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, South America, Middle East and Africa.

Product Insights

Based on the Product segment, the global colon capsule endoscopy market is categorized into Small Bowel, Esophageal, Colon, and Wireless Capsules. The small bowel segment has dominated the market share of the global colon capsule endoscopy market in 2020 owing to the inflammatory bowel illness, Crohn's disease, unexplained GI tract bleeding (OGIB), and small intestinal neoplastic lesions have all seen an increase in their use in diagnosis and screening. Moreover, throughout the projected period, the market for capsule endoscopy is expected to rise due to a growing preference for less intrusive screening techniques.

Application Insights

Based on the application segment, the global colon capsule endoscopy market is categorized into OGIB, crohn’s disease, small intestine tumor, generators & others. The OGIB held the largest market share in 2020 of the global colon capsule endoscopy market. Increasing disposable income and growing demand of advanced OGIB is creating the demand of the global colon capsule endoscopy market.

The crohn’s disease is anticipated to grow in 2020 of the global colon capsule endoscopy market over the forecasted years owing to multiple benefits of capsule endoscopy in the diagnosis and detection of OGIB Furthermore, advantages such as real-time imaging, image capture, and analysis of the entire small intestine, as well as trustworthy and exact results, are helping to improve capsule endoscope use for OGIB. Furthermore, the shift in trend toward the use of capsule-based endoscopic screening for OGIB as opposed to traditional approaches like double-balloon enteroscopy is boosting the segment's growth.

End-Use Insights

Based on the end-use segment, the global colon capsule endoscopy market is categorized into hospitals, ambulatory surgery centers & others. The hospitals are dominated the market share in 2020 owing to hospital is significantly have higher adoption and utilisation of capsule endoscopy services and endoscopes compared to other healthcare systems. Furthermore, the government's favourable reimbursement rules are driving the market's growth. Furthermore, because hospitals are the primary health care providers in the majority of countries, the number of screenings performed in hospitals is higher, indicating greater uptake and demand.

The ambulatory surgery centers are anticipated to grow in 2020 of the global colon capsule endoscopy market over the forecasted years owing to the demand for capsule endoscopy screening treatments in ambulatory surgical centers/clinics systems is being fueled by the fact that these procedures take less time and produce faster results. It has a positive impact on the market's growth.

REGIONAL INSIGHTS

The global colon capsule endoscopy market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. North America region is dominating the market share of global colon capsule endoscopy market owing to the adoption of technologically upgraded products and systems, as well as a growing desire for minimally intrusive screening treatments. Furthermore, enhanced healthcare infrastructure is a driving force behind market expansion. In addition, increased awareness of early screening for diseases including gastrointestinal disorders, cancer, and other chronic problems is one of the major drivers driving market growth in the area. However, Asia Pacific region is anticipated to grow over the forecasted years owing to the increased demand in this region for capsule-based endoscopic technology for screening operations. In addition, improving healthcare infrastructure and a growing senior population are two significant drivers driving growth. Furthermore, one of the pioneering aspects responsible for attracting international investments is strong economic development in the region. The presence of large competitors, as well as the rapidly evolving start-up scene, is boosting market growth.

KEY INDUSTRY PLAYERS:

• Given Imaging (Medtronic Plc)
• Olympus Corporation
• IntroMedic, Co. Ltd.
• Chongqing Jinshan Science & Technology (Group) Co., Ltd.
• CapsoVision
• RF System lab
• Check-Cap
• Others

KEY INDUSTRY DEVELOPMENTS:

October 2020- Medtronic announced the partnership with Amazon for home delivery of its capsule endoscope-PillCam Genius. It will enable in increasing its penetration at a global level and enhancing patient comfort and satisfaction.

SEGMENTATION

By Product

• Small Bowel
• Esophageal
• Colon
• Wireless Capsules

By Application

• OGIB
• Crohn’s Disease
• Small Intestine tumor
• Others

By End-Use

• Hospitals
• Ambulatory Surgery Centers
• Others

By Region

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy, Spain, Rest of Europe
• Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
• South America- Brazil, Argentina, Colombia, Rest of South America 
• The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa