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Capsule Endoscope and Workstations Market

Market Insights on Capsule Endoscope and Workstations covering sales outlook, demand forecast & up-to-date key trends

Capsule Endoscope and Workstations Market By Component, Application & Region - Forecast 2022 - 2032

Capsule Endoscope and Workstations Market Overview

The global capsule endoscope and workstations market size growing at a CAGR of 16.2% from 2022 to 2032 was valued at US$ 179.9 Mn in 2021 and is projected to reach US$ 605.1 Mn by 2028.

Report Attribute

Details

Estimated Base Year Value (2021)

US$ 179.9 Mn

Anticipated Forecast Value (2028)

US$ 605.1 Mn

Projected Growth Rate (2022-2032)

16.2% CAGR

What are the Key Capsule Endoscope and Workstations Market Trends?

The sales of capsule endoscope and workstations market is expected to be accelerated by the development of Wi-Fi-enabled capsules with longer battery life and improved camera quality to improve capsule endoscopy's diagnostic capabilities.

Thirty five percent of the population suffering ulcers suffer from serious complications and sometimes become life threatening. It is estimated that approximately 500,000 new ulcer cases are detected each year and at a time 5 million people are affected with ulcers in the United States.

Therefore, for the early diagnosis and proper treatment of capsule endoscope and workstations market plays a pivotal role.

Artificial intelligence (AI) is predicted to be one of the key factors in capsule endoscope and workstations market growth. Capsule endoscopy's integration of various technology improvements to increase reading experience, accuracy, and diagnostic capabilities is likely to fuel market expansion.

The demand for capsule endoscope and workstations is projected to rise as more consumers acquire the benefits of painless and minimally invasive (MI) diagnostic methods that do not require anesthesia.

Over the forecast period, many additional variables, such as expanding expenditure capabilities and improvements in the healthcare industry, are estimated to boost the global capsule endoscope and workstations market growth.

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What are the Key Drivers of the Capsule Endoscope and Workstations Market?

Endoscopy is increasingly being utilized to diagnose a variety of serious illnesses, including cancer, orthopedic problems, neurological problems, and acid reflux disease (GERD).

The increased prevalence of target illnesses such as cancer, neurodegenerative, infectious, immunological, metabolic, and cardiovascular diseases is likely to increase the need for endoscopic operations in the approaching years, propelling the capsule endoscope and workstations market further.

Furthermore, the rising global prevalence of gastrointestinal illnesses and colorectal cancer is expected to boost capsule endoscope and workstations market growth.

Moreover, the capsule endoscopy market in Asia Pacific is predicted to increase at a healthy rate throughout the forecast period. This is due to an increased demand for capsule endoscope and workstations in this region for capsule-based endoscopic technology for screening operations.

Owing to its clinically proven effectiveness and superiority over barium x-rays in the diagnosis of Obscure Gastrointestinal Bleeding, the use of capsule endoscopy for the diagnosis of Obscure Gastrointestinal Bleeding is projected to fuel the growth of the worldwide capsule endoscopy market.

Which are the Limitations to the Growth of the Capsule Endoscope and Workstations Market?

High cost of latest technology devices and lack of skilled professionals are the major barriers which affect the growth of capsule endoscope and workstations market.

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Which are the Opportunities Available in the Capsule Endoscope and Workstations Market?

The growing incidence of cancer, quick improvements in healthcare infrastructure, the rapid rise of medical tourism, and the availability of flexible legislation encourage endoscopy equipment manufacturers to expand their operations.

How is the Capsule Endoscope and Workstations Market Segmented?

Depending on geographic regions, global capsule endoscope and workstations market is segmented into seven key regions: North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan, Middle East and Africa. 

North America holds the largest share of the global capsule endoscope and workstations market, followed by Europe and Asia. Increased health care spending, the establishment of endoscopic training centers and increased patient awareness of minimally invasive surgeries have poised countries such as India, China and Japan for market expansion.

Manufacturing enterprises in the Asia Pacific area have flourished from changing economic conditions. Due to low adoption, Latin America and the rest of the globe are likely to account for a modest portion of the market.

The United States is one of the most important markets for endoscopic equipment, which helps the capsule endoscopy sector to thrive. According to the American Cancer Society, colon cancer is expected to be the third highest cause of cancer mortality in the United States.

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Which are the Emerging Capsule Endoscope and Workstations Markets?

Middle Eastern, North African, South American and Pacific countries are likely to witness steady growth through training and investment, while several government initiatives in New Zealand are working to develop an efficient workforce for endoscopy services.

BRICS (Brazil, Russia, India, China, and South Africa) are among the world's fastest-growing economies. In 2020, developing nations will account for roughly one-third of global healthcare spending, according to the World Economic Forum.

Key Players

Some of the key market players in Capsule endoscope and workstation market are: Given Imaging Ltd, Olympus Corporation, Intromedic Co Ltd and Chongqing Jinshan Science & Technology (Group) Co. Ltd.

Report Scope

Report Attribute

Details

Growth Rate

CAGR of 16.2% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

  • Component
  • Application
  • Region

Regions Covered

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific
  • Japan
  • Middle East and Africa

Key Countries Profiled

  • U.S

Frequently Asked Questions

The capsule endoscope and workstations market is anticipated to record 16.2% CAGR during the forecast period.

The projected value of the capsule endoscope and workstations market is around US$ 605.1 Mn by 2026.

North America accounts for the largest capsule endoscope and workstations market share.

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Capsule Endoscope and Workstations Market