This can be ascribed to the growing prevalence of gastrointestinal diseases, colorectal cancer, among others. The patient pool suffering from these diseases has rapidly increased which requires quick and accurate diagnostics, thereby driving the market growth over the next few years.
New York, June 03, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Endoscopy Capsule Market, By Product Type, By Accessories, By Application, By End User, By Company, By Region, Competition Forecast & Opportunities, 2026" - https://www.reportlinker.com/p06089427/?utm_source=GNW
Moreover, supportive government policies and initiatives taken by different governments across the globe are further anticipated to drive the market growth in the next five years. Besides, growing awareness among the patients pertaining to the availability of minimally invasive diagnostic procedures is expected to create lucrative opportunities for market growth over the next few years.
Endoscopy capsules are a miniature form of endoscopy camera, in a form of a pill/capsules.The capsule, upon in-gestation, travels through the gastrointestinal tract and takes images of the entire gastrointestinal tract.
These images are then received by the remote system and displayed on the screen allowing the examiner to analyze the problems and deformities in the tract. This procedure is non-surgical, non-invasive and painless, making it preferable for the patients and the doctors.
Global endoscopy capsule market is segmented by product type, accessories, application, end user, regional distribution, and company.Based on product type, the market is categorized into small bowel, esophageal, and colon.
The small bowel segment is expected to dominate the market with an overall share of 50.15% in 2020 on account of the growing usage of endoscopy capsule in the diagnosis of a wide range of problems of the small bowel including small bowel neoplastic lesions, inflammatory bowel disease, suspected Crohn’s disease, among others.
Based on end user, the endoscopy capsule market is segmented into hospitals & clinics, diagnostic centers and others. Among these, the hospital & clinics segment dominated the overall market with 48.94% share in 2020 owing to the growing number of endoscopy procedures being carried out in hospitals. Additionally, hospitals provide better healthcare and infrastructural services for the diagnosis and treatment of different diseases. Regionally, North America is expected to dominate the overall endoscopy capsule market during the forecast period on account of a large number of patients with intestinal disorders in the region.
Based on accessories, the market can be split into wireless capsule and workstation and receiver.The wireless capsule segment led the market during the forecast period.
This can be ascribed to the growing use of wireless capsules in small intestine and esophagus imaging.Additionally, these capsules are very advanced with inbuilt features such as 360-degree panoramic view, greater battery life, enhanced data storage capability, and easy transmission, among others.
All these factors are expected to drive the segmental growth over the coming years.
Some of the major competitors in the market are Medtronic Plc., Olympus Corporation, Fujifilm Holding Corporation, Boston Scientific Corporation, and Check-Cap Ltd. The companies are focusing on extensive research and development activities to stay competitive in the market. Other competitive strategies include formation of alliances and partnerships.
Years considered for this report:
Historical Years: 2016 – 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 – 2026
Objective of the Study:
• To analyze the historical growth in the market size of the global endoscopy capsule market from 2016 to 2020.
• To estimate and forecast the market size of the global endoscopy capsule market from 2021 to 2026 and growth rate until 2026.
• To classify and forecast the global endoscopy capsule market based on product type, accessories, application, end user, regional distribution, and company.
• To identify dominant region or segment in the global endoscopy capsule market.
• To identify drivers and challenges for the global endoscopy capsule market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global endoscopy capsule market.
• To identify and analyze the profile of leading players operating in the global endoscopy capsule market.
• To identify key sustainable strategies adopted by market players in the global endoscopy capsule market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers, suppliers, and service providers across the country.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst was able to include the manufactures who could not be identified due to the limitations of secondary research. The analyst examined the manufactures, distribution channels and presence of all major players across the country.
The analyst calculated the market size of the global endoscopy capsule market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Manufacturers, end users, and other stakeholders
• Distributers and suppliers of endoscopy capsule products and other stakeholders
• Organizations, forums, and alliances related to endoscopy capsule market
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as vendors, suppliers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global endoscopy capsule market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Global Endoscopy Capsule Market, By Product Type:
o Small Bowel
• Global Endoscopy Capsule Market, By Accessories:
o Wireless Capsule
o Workstation and Receiver
• Global Endoscopy Capsule Market, By Application:
o Obscure Gastrointestinal Bleeding
o Crohn’s Disease
o Small Intestine Tumor
• Global Endoscopy Capsule Market, By End User:
o Hospitals & Clinics
o Diagnostic Centers
• Global Endoscopy Capsule Market, By Region:
o North America
o South America
o Middle East & Africa
Company Profiles: Detailed analysis of the major companies present in the global endoscopy capsule market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five)
Read the full report: https://www.reportlinker.com/p06089427/?utm_source=GNW
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