Capsule endoscopy systems market would generate a revenue of $399.7 million by 2020, registering a CAGR of 14.8% during 2015-2020.
Portland, OR, August 13, 2015 –(PR.com)– A new report by Allied Market Research, titled, “World Capsule Endoscopy Systems – Market Opportunity and Forecast, 2014-2020,” the capsule endoscopy systems market would generate a revenue of $399.7 million by 2020, registering a CAGR of 14.8% during 2015-2020. In 2014, wireless disposable capsules segment held around 95% share in the overall market and will continue to dominate the market throughout the forecast period.
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Capsule endoscopy is an advanced non-invasive technique that uses wireless disposable video capsule, workstations and recorders for the diagnosis of gastrointestinal disorders such as peptic ulcers, Crohn’s disease, obscure gastrointestinal bleeding (OGB) among others. The capsule aid in capturing images, which are transmitted to the recorders and analyzed through workstations and software. Capsule endoscopy would gradually replace conventional gastrointestinal monitoring techniques, largely due to the non-invasiveness and convenience. Increasing popularity of varied capsule types such as small bowel, oesophagus and colon, a growing aging population and rising incidences of gastrointestinal disorders, are some of the key factors that would largely drive the market growth. On the other hand, unclear reimbursement policies, stringent regulations and high cost of capsule endoscopy systems, would hamper the market growth.
The small bowel diseases segment accounted for the highest revenue in 2014. This was primarily due to large patient population suffering from small bowel disease and established reimbursement for small bowel capsules.
Key finding of the study
Wireless disposable capsules segment is projected to be the fastest growing segment in global capsule endoscopy systems component market, registering a CAGR of ~15.3% during the forecast period
Within target diseases, Colonic diseases segment is projected to register fastest growth during forecast period
Asia-Pacific region is projected to be the fastest growing capsule endoscopy market, registering a CAGR of 15.5% during 2015-2020
North America and Europe collectively accounted for around 83% of the capsule endoscopy systems market revenue in 2014 and are expected to maintain their lead throughout the forecast period. Large patient base, rising healthcare expenditure and quick adoption of innovative technologies are the key factors responsible for market growth in these regions. Key players profiled in this report includes- Given Imaging Inc., Olympus Corporation, IntroMedic Inc., CapsoVision Inc. and Chongqing Jinshan Science & Technology Group Co. Ltd.
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