Capsule Endoscopy Market Size, Share & Trends Analysis Report By Application (OGIB, Crohn’s Disease, Small Intestine Tumor), By End-use (Hospitals, ASCs/Clinics), By Product, By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global capsule endoscopy market size was estimated at USD 482.8 million in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 9.6% from 2023 to 2030. The increasing prevalence of cancer, growing global geriatric population base, rising demand for minimally invasive diagnostic procedures, and introduction of technologically advanced capsules are the major factors bolstering the market growth. According to the World Cancer Research Fund (WCRF) International in 2020, there were 18.1 million new cancer cases identified globally, 9.3 million of these involved men, while 8.8 million were women. In addition, rising healthcare expenditure levels triggering the need for effective diagnostic procedures for cancer and supportive government initiatives are expected to boost the market growth. Benefits provided by capsule endoscopies, such as painless visualization of gastrointestinal tract images, precise diagnosis, and faster results, have increased their adoption in recent years.

In addition, the introduction of technologically advanced wireless capsules with enhanced features, such as longer battery life, enhanced data storage capability, WiFi-enabled devices, ergonomic designs, easy transmission, larger frame rate, 360-degree panoramic view, and improved image quality is propelling the market growth. The rising geriatric population base is anticipated to provide this market with a strong platform for growth over the coming years. Aging significantly increases the risk of gastrointestinal disorders, such as inflammatory bowel disease, Crohn’s disease, colorectal cancer, and appendicitis. Furthermore, the growing prevalence of cancer in older as well as younger adults in recent years and the increasing adoption of screening tests, including capsule endoscopy for detection is likely to fuel market growth.

According to the statistics provided by Cancer.Net in 2021, it is estimated that around 149,500 adults in the U.S. were diagnosed with colorectal cancer. Such increasing prevalence signifies the growth of the market shortly. The rising adoption of minimally invasive surgical interventions has further propelled the utilization of capsule endoscopic systems and wireless capsules, mainly for the detection or diagnosis of gastrointestinal issues, such as OGIB (obscure GI tract bleeding), Crohn’s disease, cancer, and small intestine tumor. Capsule endoscopy provides highly efficient and fast results concerning screening of such gastrointestinal conditions, thereby boosting the adoption and leading to market growth. Some of the limitations of capsule endoscopy, such as capsule retention and utilization limited to diagnostic purposes, act as hurdles in the growth of the market.

The risk of retention of the capsule may require endoscopic retrieval or rarely surgical resection. For instance, as per a 2017 study published in the Annals of Translational Medicine, capsule retention occurs approximately in 2% of patients undergoing a small bowel capsule endoscopic procedure. This creates an obstacle in the product adoption. However, with technological advancements and better-designed wireless capsules, the retention rate is anticipated to reduce, thereby fueling the market growth. In addition, the COVID-19 pandemic has substantially impacted the market. The postponement, delay, cancellation, and reduction in the number of elective surgeries performed during the COVID-19 pandemic have significantly impacted the market growth. Changing regulations concerning surgical interventions and endoscopic screening procedures, and disruptions in the supply chain were the key factors that hindered the market growth during the pandemic.

Furthermore, capsule endoscopy training for medical professionals has also been impacted drastically. Many institutions opted for e-learning modules for training. However, post-pandemic, the training sessions have been restored to face-to-face training sessions. Moreover, the advantages provided by capsule endoscopy are anticipated to boost the growth of the market. For instance, according to a 2021 cohort study of 146 patients (74 COVID-19 positives) published in JAMA Network, active bleeding was identified more frequently using video capsule endoscopy as the first strategy (around 59.5%), as compared to the traditional endoscopic detection process. Hence, such instances signify the growth of the market post-pandemic.

Application Insights

The obscure GI tract bleeding (OGIB) application segment held the highest revenue share in 2022 due to the numerous advantages provided by capsule endoscopy in the diagnosis and detection of OGIB. In addition, benefits, such as real-time visualization, image capturing, and analysis of the entire small intestine and reliable and precise results help increase the adoption of capsule endoscopes for OGIB. The shift in a trend toward the adoption of capsule-based endoscopy screening for OGIB as compared to conventional methods, such as double-balloon enteroscopy, is further supporting the segment’s growth. The Crohn’s disease segment is anticipated to grow at a substantial rate during the forecast period.

This is due to the increasing utilization of capsule endoscopes for the detection of the disease. Canada has one of the highest incidence rates of IBD, including Crohn’s disease and ulcerative colitis. For instance, according to 2018 statistics provided by Crohn’s and Colitis Canada, around 270,000 people in the country suffer from IBD, out of which, 135,000 people have Crohn’s disease. It is a substantially high number. In addition, the IBD prevalence rate is anticipated to increase by 50% by 2030, with around 400,000 Canadians getting diagnosed with IBD.

End-use Insights

On the basis of end-use, the market has been further categorized into hospitals, ambulatory surgery centers (ASCs)/clinics, and others. The hospital segment dominated the market in 2022. This is attributed to the substantially large adoption and utilization of capsule endoscopy services in hospitals. In addition, favorable reimbursement policies provided by governments are further boosting the growth of this segment. Hospitals are usually the primary health systems in most of the countries.

Hence the number of screenings performed in hospitals is higher, thereby signifying greater product adoption and demand. This is another factor responsible for segment growth. The ASCs/clinics end-use segment is expected to grow at the fastest growth rate over the forecast period. Minimal time required for capsule endoscopy screening procedures and faster results are the key factors supporting the demand for these procedures in ambulatory surgical centers/clinic systems.

Product Insights

On the basis of product, the global market has been further categorized into wireless capsules and systems. The wireless capsule product segment dominated the global market in 2022 and accounted for the largest share of 75.9% of the overall revenue. This segment is expected to grow at the fastest CAGR of 9.8% retaining its leading position throughout the forecast period.

This is attributed to the advantages they offer in diagnosing or detecting complex health conditions, such as gastrointestinal disease, cancer, Crohn's disease, and other small bowel diseases. The increasing preference of medical practitioners and medical professionals to use wireless capsule endoscopy for quicker and more efficient diagnosis is further driving the segment growth.

Regional Insights

North America dominated the market and accounted for the largest revenue share of 43.6% in 2022 due to the rising preference for minimally invasive screening procedures, along with the adoption of technologically enhanced products and systems. In addition, improved healthcare infrastructure in the region is another factor propelling the market growth. Moreover, rising awareness regarding early screening of diseases, such as gastrointestinal disorders, cancer, and other chronic conditions, is one of the prominent factors supporting market growth in the region.

Asia Pacific is expected to exhibit a lucrative CAGR over the forecast period due to the higher demand for capsule-based endoscopic technologies for screening procedures. In addition, improving healthcare infrastructure and rising geriatric population will support the region’s growth. Significant economic development in the region is a major factor responsible for attracting international investments. The presence of major players along with the constantly developing start-up landscape is further supporting market growth.

Key Companies & Market Share Insights

There is significant competition among the market players due to the growing demand for capsule-based endoscopes and endoscopy systems for various screening and diagnostic procedures. In addition, technological advancements in the field of endoscopy by key players are further increasing the competition. Furthermore, strategic alliances with other market players, such as mergers & acquisitions, product launches, and partnerships, and growing R&D in the area of capsule-based endoscopic technologies are some of the initiatives being undertaken by key players to increase their industry shares.

In August 2022, Medtronic launched GI Genius, a colorectal cancer endoscopy module in India. The system offers improved visualization during colonoscopy and provides real-time data using artificial intelligence (AI), empowering doctors to find and cure colorectal cancer. In February 2020, Medtronic announced its partnership with Amazon for home delivery of its capsule endoscope-PillCam Genius. It will help in increasing its penetration at a global level and enhancing patient comfort and satisfaction. Some of the prominent players in the global capsule endoscopy market include:

• Shangxian Minimal Invassive Inc.

• IntroMedic Co.

• MEDTRONIC PLC.

• Fujifilm Holding Corporation

• Olympus Corporation

• Anx Robotica

• Chongqing Jinshan Science and Technology Group Co.

• CapsoVision Inc.

• Check-Cap, RF Systems Lab

• Given Imaging (Medtronic Plc)

• RF System lab

Capsule Endoscopy Market Report Scope

Global Capsule Endoscopy Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global capsule endoscopy market report based on product, application, end-use, and region:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Wireless Capsule

  • Systems

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • OGIB (Obscure GI Tract Bleeding)

  • Crohn’s Disease

  • Small Intestine Tumor

  • Others

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospitals

  • Ambulatory Surgery Centers/Clinics

  • Other End-uses

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East and Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait